Program overview of the Coachella Valley Innovation Hub (CViHub). The CViHub is a business incubator for companies in the renewable energy and enabling technology fields. CViHub is hosted by the cities of Palm Springs, Cathedral City and Desert Hot Springs. CViHub is operated by the Coachella Valley Economic Partnership (CVEP).
2. CViHub Staff
Joe Wallace: Managing Director
•MS Engineering , Ph.D Coursework Completed
•30 Years Experience (Business and Public Sector)
•12 Start-Ups
•50+ Private Clients
Kyle Wagner: Assistant Director
•MBA & SBDC (50/50)
3. CViHub Mission
“Attract, Inspire, & Assist Renewable Energy and
Enabling Tech Businesses for the Coachella Valley”
• Start-Up Protocol
• Continuous Improvement & Sanity Checks
• Capital Formation
• Emergence Planning and Execution
• Intellectual Property Protection
•Practical Advice to Create Wealth & Employment
Opportunities
4. CViHub Resources
• CVEP (Coachella Valley Economic Partnership)
• SBDC
• SBA
• Angel Investment Networks
• Financial Institutions
• Venture Capital Firms
• University Partnerships (UCR, CSU, COD)
•Municipal Partners
• Cities of Palm Springs, Desert Hot Springs, and Cathedral City
• Federal Lab Consortium PIA (Future)
•NREL, CalTech, Stanford, Argonne, Sandia, etc.
7. The Numbers Game
• 90% of business is not iHub Material
• 20% of Applicants get appointment with
private investors
• 15% of those get funding
• 50% of those fail within 5 years
• 40% Survive but remain small < $1M
• 10% have a Significant Liquidity Event
• 4% Become Home Runs
8. Becoming a Winner
• Rigorous Acceptance Criteria
• Frequent Progress Reviews
• Maintain High Credibility with Investors
• Accelerate both Failures and Successes
• Attract Over 100 Investment Quality
Businesses to the CViHub
9. Current Business Clients
• Five On-Site Client Businesses
• Four Virtual Clients
•3 Applications Submitted, 4 Expected
•Industry Sectors include:
•Energy Generation, Storage & Management
•Electric Vehicles
•Cloud Computing
•Energy Savings
• Seismic Warning Devices
10. 5 Most Mature Current iHub Clients
5 Year Projections
• Revenue: > $3 Billion
• EBITDA: > $350 Million
• Employment: > 2,800
• Collective Valuation: $3.5 Billion
•Seeking Collectively $17.5 Million
Success Depends on Money, Talent, Execution,
Free Markets, and Competitive Ability
11. Future Goals
• Develop Mentor Network
• Necessary Business Professionals
• Acceleration Park
• Entrepreneur Friendly Terms
• Expand Municipal Support
•Diversify Coachella Valley Economy
• Wealth and Job Creation
