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UEDA 2015 Annual Summit - 9/29 - Meetups, Money, and Measures: Building a Better Environment for Entrepreneurs

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Universities are often known in their communities as neutral conveners. Convening a group of resource organizations that support entrepreneurs can provide needed information to develop an entrepreneurial ecosystem. This session explores a variety of ways that universities can interact with business development landscapes; identify strengths and weaknesses; and fill gaps. Combining research and outreach, the session explores data collection, analysis, and actions that can build better environments for entrepreneurial success.
Ron Cox, Associate Dean, College of Engineering and Director, Center for Industrial Research and Service (CIRAS) Iowa State University
Genna M. Hurd, Co-Investigator, KU University Center, Institute for Policy & Social Research (IPSR)
Maria Meyers, Network Builder, KCSourceLink/U.S. SourceLink

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UEDA 2015 Annual Summit - 9/29 - Meetups, Money, and Measures: Building a Better Environment for Entrepreneurs

  1. 1. Meetups, Money and Measures Building a better environment for entrepreneurs Case Study: KU University Center Kansas Regional Data Portal
  2. 2. KU University Center KU Center for Entrepreneurship, School of Business and the Institute for Policy & Social Research (IPSR) Five Innovative & Unique Efforts 1. RedTire 2. E3 3. Jayhawk Consulting 4. KU Catalyst - Student Business Accelerator 5. Kansas Regional Data Portal
  3. 3. Kansas Regional Data Portal http://ipsr.ku.edu/BIDC/region.php • Developed in consultation with KARDO • Purpose: to assist with data collection & analysis for the CEDS • Builds on data collection efforts already taking place at IPSR, such as the Kansas Statistical Abstract and the Kansas Data Archive • Provides quick, at-a-glance summaries
  4. 4. Demographics
  5. 5. Housing
  6. 6. Business & Industry
  7. 7. Healthcare
  8. 8. Quality of Life
  9. 9. Infrastructure
  10. 10. Natural Resources
  11. 11. Contact Info http://ipsr.ku.edu/KUforKS/ Genna Hurd Associate Researcher IPSR, KU 785-864-4618 ghurd@ku.edu Xan Wedel Senior Research Data Engineer IPSR, KU 785-864-9111 xan@ku.edu http://www.ipsr.ku.edu/BIDC/region.php
  12. 12. Meetups, Money and Measures Building a Better Environment for Entrepreneurs Iowa State University, Ron Cox
  13. 13. DATA MEETUPS MONEY MEASURES time Start-ups Existing Entrepreneurism Entrepreneurial Ecosystem Process
  14. 14. Data
  15. 15. 0 20 40 60 80 100 120 140 160 180 200 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 $000sperJob Machinery Manufacturing: Real GDP Per Job U.S. Iowa
  16. 16. Employed Percentage of the Working-Age Population
  17. 17. Agriculture machinery Construction machinery Specialty industrial and commercial machinery Engine, turbine, and power transmission equipment Other general purpose machinery - 0.2 0.4 0.6 0.8 1.0 1.2 1.4 1.6 - 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0 18.0 Average Annual Pay Ratio: Iowa/U.S. Employment Specialization Index: Industry % of Iowa Total Employment/Industry % of U.S. Total Employment Iowa Machinery Manufacturing Industry Productivity x Specialization Arrows show direction of change in ratios over time Period 1: 2004-2008 average Period 2: 2009-2013 average Bubble sizes reflect Iowa industry size in jobs
  18. 18. Meetups
  19. 19. Innovation Iowa USA Strategies Products Processes Business Models Technology 1- CIRAS Tools 2- Technology Sessions 3- Project Creation 4- Action Plans 5- Networking/Lab tours IDEAS:
  20. 20. 2- Technology Sessions • CAD Modeling and Simulation • 3D Printing • Industrial Automation • Machine Based Data Analytics and Internet Connectivity
  21. 21. Money
  22. 22. CIRAS Funding Company Funding Private Investment
  23. 23. Measures
  24. 24. Early ‘Bullet’ • CIRAS’ Economic Development Administration University Center Program (EDAUCP) focuses on growing small businesses by coaching them on how to develop and commercialize innovative new products, processes, services or business models. This program has delivered $2.4 million in monetary impact over the past year and has created or retained 24 additional jobs in the plastics and machinery manufacturing industries. • Consistent measurement process between EDAUCP, MEP, and PTAP. • Data used for Feds, Board of Regents, marketing, …
  25. 25. Contact Ron Cox Associate Dean for Corporate Engagement, College of Engineering Director, Center for Industrial Research and Service (CIRAS) Co-Lead EDA University Center Program Iowa State University Email: rcox@iastate.edu Cell: 515-460-1123
  26. 26. Meetups, Money and Measures Building a better environment for entrepreneurs Case Study: KCSourceLink
  27. 27. • Social Media • Referral sPromote • Commu nity • Partner Meetin gs Engage • Hotline • Facilitat ed discussi ons Listen • Identify and Report Gaps Respond • Progra ms to fill gaps Collaborate Finding gaps
  28. 28. What do funders look for? • A strong problem statement •Datathat supports it • A feasible solution •Partners • Match • Return on investment, often based on jobs, starts, debt/equity investment and sales increases
  29. 29. Filling the Gaps 2003 Network of Service Providers 2004 Entreprene urs 2009 Researche rs 2012 Corporati ons 2013 Fully engaged communi ty 2015 We Create Capital and Ecosyste m Measure s
  30. 30. What to: Measure?
  31. 31. Measures Network Access web visits hotline calls Resource Navigator searches Network Strength partners calendar events satisfaction survey results Network Reach friends and followers sources of traffic
  32. 32. Who is using the ecosystem
  33. 33. Gap Partners Collabor ative Funding Program Results Measuring a Successful Collaboratio n 46 proof-of-concept projects 23 new companies $17.7 million follow- on funding 181 new jobs created, nearly $5.5 million in total salaries $7 million in total sales 18 patent applications 4 successful exits …in two years Proof of Concept Funds 15 $2.1 Million
  34. 34. Connectivity of KC regionional entrepreneurial ecosystem, survey by KCSourceLink, June 2015. Connectedness Fusing the ecosystem
  35. 35. Density Density of companies who hired their first employee in the Kansas City region Q4 2013, Q1-Q3 2014
  36. 36. Loan Capital
  37. 37. Equity Capital Equity Capital
  38. 38. Where is the capital going?
  39. 39. Talent
  40. 40. Measure growth Create central hub Make them visible Identify Assets The Resource Navigator® WebPlate Now! Hotline Biz-Trakker® Building Entrepreneurial Community
  41. 41. Contact Maria Meyers meyersme@umkc.edu 816-235-6112 www.WeCreateKC.com

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