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Michael's notes from the UP conference call: 02.20.14
My email: m@ec.co

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  1. 1. BUILDING PARTNERSHIPS ENGAGING BUSINESS & THE STARTUP COMMUNITY Michael Burcham President & CEO The Nashville Entrepreneur Center 615.400.7662 m@ec.co
  2. 2. THE INNOVATION ECONOMY IS CHANGING THE RULES & THE GAME The innovation economy is literally sweeping away all the old rules of building communities. Entire industries are already being transformed (publishing, music, news) and others are in a significant state of change (retail, healthcare, manufacturing).
  3. 3. CULTIVATING AN ENTREPRENEURIAL MINDSET Whether you work for a 10-person company, a giant multinational corporation, a not-for-profit, government agency or any type of organization in between to seize the new opportunities and meet the challenges of today’s market we need to think and act like we’re running a startup.
  4. 4. DEVELOPING AN ENTREPRENEURIAL MINDSET Your Aspirations Your Assets Define your organization’s competitive advantage by combining 3 puzzle pieces: The Market Realities
  5. 5. KEY PARTNERSHIP INITIATIVES AT THE EC Partners | Businesses Who Support the Idea We have worked to create a public & private partnership with businesses who impact our community, our students and our alumni. - We have over 100 business partners engaged in startup activity What worked? - Providing business partners with the opportunity to help design programming and establish areas for new business development
  6. 6. HIGHLIGHTS OF BUSINESS PARTNERSHIPS • • • • • • • • • • • • Mentoring Program Skunkwerx Accelerator Catalyst | Small Biz Reboot Mayor & Chamber | Corporate Relocations & Engagement Foundations | Social Enterprise Accelerator Schools | Online Curriculum for Entrepreneurial Mindset Community | Screening of New Concepts & Ideas Legal Firms | Fixed Fee Legal Structures for Startups Accounting | Fixed Fee GAAP Accounting Workshops | Creativity & Innovation, Thinking Like a CEO, Presentation Skills Corporate Memberships to EC for Events, Programming Entrepreneurs Hall of Fame & NEXT Awards
  7. 7. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 1. Align Your Shared Vision for Success You must engage in Intentional Conversation about what you wish to accomplish. What worked for Us? - Businesses become the 1st Customers of our startups. Partners see new businesses as a form of new product development - We agreed on key metrics for success for our initiative.
  8. 8. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 2. Do Something for the Business Community Every business is trying to infuse Entrepreneurial Thinking into the workplace. What worked for Us? - Build your Mentoring Program in partnership with businesses. - Create an outsourced Skunkworks service for the business community.
  9. 9. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 3. Connect Startups to Large Businesses Large businesses offer problem list or opportunities for new concepts. What worked for Us? - Build seed funds: Opportunities for large business to invest in ideas that solve their problems. - Take the startups to the businesses to share what’s possible.
  10. 10. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 4. Leverage Community Resources to Secure Your Opportunities In Nashville, we have focused our startup | entrepreneurial efforts around the categories that represent both our large businesses and our investment community
  11. 11. 5 KEY STEPS IN BUILDING BUSINESS PARTNERSHIPS 5. Organize | Create your “Front Door” We established the Nashville Entrepreneur Center as the city’s “Front Door” for entrepreneurship What worked? - We host (in conjunction with the Mayor’s office and the Chamber) visiting corporations looking to relocate to Nashville. - We have engaged Civic Groups and Civic Leaders in all our community and programming endeavors.
  12. 12. SAMPLE | SPRINT PROCESS OVERVIEW Project Foundation Mon Objective: – Define and validate customer and business model and hypotheses Deliverables: – – Execution Blueprint Process Design Tue Wed Thu Objective: – Build and refine future state customer journey map and requirements Fri Objective: – Deliverables: – Refined customer and business model assumptions Customer and business model assumptions (IdeaFrameTM) – Customer profiles and needs analysis Future state customer journey map and prototypes – Future state operations requirements and process flows Final Deliverables: – Future state customer journey map – Project execution blueprint Operational constraint analysis – Develop and articulate highlevel execution blueprint
  13. 13. Most Business Strategies and their Business Models are “off” by 10 Degrees … so we teach small businesses how to improve their business models.
  14. 14. THE OPERATIONS OUR CORE PROGRAMMING Resources - Concept screening Mentoring - Business model training Entrepreneur Tool Kits Training - Expertise in Verticals Community - Connect startups to high impact entrepreneurs Advisory Group Development - Advocacy Capital Partners “office hours” - Measurement - - Education Gathering Place - Pitch Competition Celebrate deals community building) - Co-working space Partner with capital firms - Earned access - Investor database - Demo Day – Showcases Virtual Boards
  15. 15. The Entrepreneur Center opened in June, 2010 as a Private | Public Partnership to Create Economic Growth
  16. 16. Over the past 44 months we have screened over 2,000 startup ideas from entrepreneurs all over the United States.
  17. 17. Each year, we launch 50 New Companies in our community
  18. 18. Focus Areas are Healthcare, Digital Media, Social Enterprise and Technology
  19. 19. Every Day, Over 150 Individuals are working in our space to start new businesses
  20. 20. Nashville Celebrates our Entrepreneurs Hall of Fame and Award Show with Big Business