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Innovation Center Realtors Presentation 9 28 16

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Innovation Center Realtors Presentation 9 28 16

  1. 1. 11 Presented by Jennifer Simon September 28, 2016
  2. 2. Outline • Mission • Defining Incubators • Pillars of the Innovation Center • Economic Impact and businesses affected • How can we work together? 2
  3. 3. 3 Mission We assist technology-based companies in developing wealth and jobs by providing strategic business assistance, facilities, networking and training Established in 1983
  4. 4. Defining Incubation An organization designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services that could include physical space, capital, coaching, common services, and networking connections. From Entrepreneur Magazine. 4
  5. 5. Innovation Center Process 1. Discuss idea with Client Liaison 2. Work with Client Liaison to put together an application 3. The Associate Director and Director meet directly with the applicant to lay out expectations, ask thorough questions and determine if the company is a good fit. Lease and service agreements are signed 4. Company moves in and starts receiving services 5. Total time for incubation is 5 years. The lease is a graduated one. While we start companies out below market, we raise their lease amounts each year to approach market 5
  6. 6. 6 We’re more than a building More than a real estate play
  7. 7. Four Pillars of the IC •Business Assistance •Training •Networking •Facilities 7
  8. 8. Business Assistance • Executives in Residence/IC EIR • Mentors • SBDC • Procurement Technical Assistance Center • Business Remixed-Economic Development • Monthly/Quarterly Meetings with IC Clients 8
  9. 9. Training • BOSS • Procurement • Monthly Lunch and Learns • Center for Entrepreneurship – training within all Colleges including Fine Arts • Other SBDC training 9
  10. 10. Networking • The HUB • Entrepreneurship & Technology Mixers • Client Networking Luncheons • CEO Roundtables • Founders Forum 10
  11. 11. Core Facilities • Biotechnology Research & Development -- $1million equipment investment • Digital Media Incubator • Prototyping Center – 3D Printer • 33 Offices • 6 Wet Labs 11
  12. 12. 2015 Economic Impact 12 • Total Effect (combined impact) • 176 jobs • $7.2 million in compensation • Business income exceeding $33.5 million • State and Local taxes $837K
  13. 13. 2015 Types of Businesses Impacted • Construction • Manufacturing • Retail • Accommodations & food services • Health & social services • Administrative & Waste Services • Information • Professional/Scientific • Government 13
  14. 14. 2014 Economic Impact 14 Total Effect (combined impact): • 139.8 jobs • $5.5 million in compensation • Business Income exceeding $3.7 million* • State and Local taxes $457k • *Due to a glitch in the software, our companies produced over $22 million in revenue alone.
  15. 15. 15 Graduation: Ecolibrium Solar
  16. 16. 16 Our Future Plans Regional Innovation Network • 28 counties • Makerspaces to incubators • Traveling business coaches • Traveling engineering and design services • Equipment • Facilities • Local Expertise
  17. 17. How can the IC and realtors work together? • Conference Room Availability • Referrals back and forth • Market pricing research • Graduation preparation • Building graduation space 17
  18. 18. 1818 Questions?

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