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Technology opportunities in hampton roads (kaszubowski ), nasa technology days, 5 15-15


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Presentation given at NASA Langley Research Center (LaRC) Technology Days (5/15/15). The topic of the discussion was how we can take better advantage of the assets in our region to promote high-growth ventures.

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Technology opportunities in hampton roads (kaszubowski ), nasa technology days, 5 15-15

  1. 1. Opportunities in Hampton Roads Some thoughts on clusters, connections, & collaborations… Marty Kaszubowski Executive Director Center for Enterprise Innovation Old Dominion University
  2. 2. Themes 1. Hampton Roads is an increasingly attractive location for innovative companies to start and grow 2. The region is responding with both formal and informal programs, top-down and bottom-up 3. We need smart people from all around the region to step up and start something new
  3. 3. Small Business “Drives the Economy!!!!”
  4. 4. “New” beats small and large every time … Kaufmann Foundation: “… it is clear that new and young companies, and the entrepreneurs that create them, are the engines of job creation and eventual economic recovery.“ “… 1980-2005, nearly all net job creation in the United States occurred in firms less than five years old.” Kaufmann makes a clear case that it is a firm’s age, not its size, that is the driver of job creation – this has many implications, particularly for policymakers who are focusing on small business as the answer to a dire employment situation.
  5. 5. Small Business “Drives the Economy!!!!”
  6. 6. NEW Businesses “Drive the Economy!!!!”
  7. 7. But not all startups are the same! There are six distinct types of “NewVenture”: 1. Small business 2. Lifestyle business 3. Scalable startup 4. Buyable startup 5. Social entrepreneur 6. Spin-out company
  8. 8. A Startup Is aTemporary Organization Designed to Search for a Repeatable and Scalable Business Model • Failure is an integral part of the search for the repeatable Business Model • No Business Plan survives first contact with customers • Startups demand comfort with chaos and uncertainty • Startups require access to a supportive community and relevant services Per Steve Blank, et al
  9. 9. So … What Do NewVentures Need? Access to stage-appropriate capital Access to networks of people & institutions to help them gain access to the above … Access to talent & technologies Access to professional advice, counsel, mentoring, & services
  10. 10. An entrepreneurial ecosystem includes:  Idea generators, which can be company, university, and federal research center staff as well as individuals and small teams working outside of any formal organization;  Entrepreneursturning ideas into new ventures that, first, explore the market to determine specific customer needs and preferences and, eventually, turn a repeatable business model into a growing enterprise;  Experienced managementthat understands growth and expansion and can help new ventures “scale up” in a professional and measured way;  Mentors who have experience working with new and growing ventures and are willing to pass it on in exchange for little compensation other than the satisfaction of knowing they helped a new venture succeed;  Risk- and stage-appropriate funding sources that cover the range of small, to mid-size, to larger capital needs and explicitly address the different TYPES of capital (e.g., equity versus debt) needed by new ventures seeking to exercise uncertain markets;  Customers, especially mature local companies that agree to serve as “early adopters” for local ventures experimenting with new products or services;  Suppliers willing to work with new ventures testing uncertain business models; and  Commercial Partners, willing to offer expertise, facilities, and (usually) non-cash resources that can enable a new venture to test products or services in exchange for an opportunity to participate in the growth of the new market.
  11. 11. Developing an entrepreneurial ecosystem does not happen overnight. It requires a culture of idea generation, experimentation, commercialization, success and failure. Cities and their private sectors stakeholders can help by creating “safe places,” networks, and programs for local entrepreneurs to:  Generate ideas  Learn & share knowledge  Recruit mentors, experts, and capital  Experiment with their products, services and technologies.
  12. 12. The region is investing heavily in the development of our local entrepreneurial skills. Focused on entrepreneurship as a set of skills that can be applied across professions, markets, and technologies. Investing in both in formal and informal programs: Formal programs include funded incubators, accelerators, co- working spaces, mentoring programs, “Entrepreneur in Residence,” business plan contests,” venture funds, etc. Informal programs include entrepreneurship clubs, expanded networking events, “Startup meetups,” speaker series, on-going “celebration” of entrepreneurship successes.
  13. 13. Re-Invent Hampton Roads  A leadership initiative of the Hampton Roads Community Foundation  Four Study Groups:  Civic Leadership  Workforce Development  Industry Clusters  Entrepreneurship (
  14. 14. What is an Industry Cluster? Researchers Practitioners Customers Where does your organization fit?
  15. 15. 15 Wants • One “place”: • to coordinate current efforts • for resource matchmaking • to efficiently connect with qualified people • without being “sold things” • Quality data connection – Business services’ reviews • “Bring the online offline” Hurdles • Current initiatives very disconnected • City infighting • “Not the easiest place to build a business” • Regional perception Features • Consolidated list of events • Profiles – add credibility • Communication between mentors and entrepreneurs • Startup resources and information • Rich original content
  16. 16. Mentor Founder Enthusiast Characteristics • In one of the various stages of starting a business. • May read “how-to-be-an- entrepreneur” • Faces challenges around scale and capital. • Looking for advice. Needs • Connection with a qualified mentor on a specific topic to help grow their business. • Access to qualified resources and events • Connections with other local founders Characteristics • Likes reading entrepreneur magazines and blogs to see what’s new • Has startup ideas, but has not taken the leap to starting a business. • Attends startup/tech meetups. Needs • A list of local startup/tech events that provide insight into other local entrepreneurial efforts. • Connection with entrepreneurs and mentors for guidance and inspiration in moving forward with business ideas. Characteristics • Successful entrepreneur or business leader with expertise in their area. • Has time to give back to local founders • Takes an interest in developing the local business landscape Needs • A platform to be connected with a qualified founder that will not waste their time. • Information detailing current events in the area.
  17. 17. Clusters & Entrepreneurship – Initial Conditions Industry Clusters Entrepreneurship Challenges  Cyber Security  Advanced Manufacturing  Unmanned systems  Bio-Sciences  Coastal Energy  Military  Tourism  Port & Maritime  Modeling & Simulation  Access to capital  Coordination of existing & planned venture support programs  Access to cluster-specific advice & counsel  Networks of like-minded entrepreneurs  Suppliers & customer connections
  18. 18. Clusters & Entrepreneurship -- Programs Industry Clusters Entrepreneurship Programs  Cluster “upgrade” programs 1.Better connecting & collaborating 2.Common measurement, benchmarking & monitoring 3.Creating an innovation focus 4.Access to capital  Revised/updated Economic Development models  757Angels  E64 Project  Mentoring/matching tools & events
  19. 19. Related “Grass Roots” efforts Industry Clusters, Econ. Dev. Entrepreneurship Programs  NorfolkConnected  VBConnected  HamptonRoadsInnovations  VB App  UBED HR  Re-Invent HR, Phase II  1000Four  Hatch, PTI, HU Incubator, Franklin Incubator, Historic Triangle Incubator  1M Cups  Startup Meetup(s)  StartNorfolk, StartPeninsula  ICE757  UnWINEd  Strome Center Open House  Tidewater Analytics
  20. 20. Shameless Pitch for ODU’s Center for Enterprise Innovation… Industry Clusters, Econ. Dev. Entrepreneurship Programs  Government Contractor “transition” program  Social Entrepreneurship programs  SBIR/STTR support  Data Analysis and Market Assessment  Procurement Assistance Center  Product prototyping  Veteran’s Business Outreach Center  Women’s Business Center  Technology Applications Center  Launch Hampton Roads (partnership with Opportunity, Inc.)  Announcements to come …
  21. 21. Related “Grass Roots” Programs Innovation & Collaboration Entrepreneurship  HamptonRoadsInnovations  NorfolkConnected  VBConnected  UBED HR  Incubator Managers  Unmanned Systems Group  1000Four  Propel  Launch Hampton Roads  Veterans Business Outreach Center  Women’s Business Center  Procurement Assistance Center  Technology Applications Center  Hatch, PTI, HU Incubator, Historic Triangle Incubator, Franklin Incubator 1. Hampton Roads = innovative companies & commercialization of research 2. The region is responding 3. Step up and start something new!
  22. 22. Questions?
  23. 23. Zero-Sum v. Non-Zero-Sum Market Share  Market Creation “Coopetition”  Collaboration Low-uncertainty  High-uncertainty Eliminate Risk  Manage Risk Specialization Teamwork Execution  Experimentation
  24. 24. In an Innovative, “Non-Zero-Sum” Culture:  People share a faith in the culture of innovation and entrepreneurship.  Everyone is open to meeting anyone in this community.  Everyone understands that, as part of the community, they will often receive valuable help from others for free or at a very low cost.  They agree to “pay forward” whatever positive benefits they receive.  They give trust to others before expecting to receive trust in return.  They treat everyone fairly. We will take advantage of no one.  They bring people together, as none of them are as smart as all of them...  They understand that mistakes and failure are acceptable ways of testing new ideas.  They learn from others, and help nurture learning in others.  Each person is a role model for everyone else.