The document provides an overview of small business development focusing on technology-led initiatives, emphasizing the role of economic developers and the importance of support systems such as business incubation. It highlights the Dublin Entrepreneurial Center's objectives, successes, and various initiatives aimed at fostering entrepreneurship within the community. Key points include the need for collaboration among practitioners and resources, as well as the significance of economic clusters in supporting small business growth.

1. Small Business Development & ProgramsTechnology-Led Development

2. Overview & AgendaSmall Business & Entrepreneurs

3. Elements of Support

4. Small Business Incubation

5. Economic Developer Roles

6. Technology-Led Development

7. Technology Commercialization

8. Example: Dublin Entrepreneurial Center2

9. Small Business & EntrepreneursEconomies are driven by small businesses4,000 and 7Large businesses get the attentionNew business generationWho’s in the garage today?Where are businesses located?Focal points…

10. Small Business & EntrepreneursUnemployed talent poolDifficult replacing prior position and salaryStarting a small business helps displaced workers to get back into the economy. Job for 1Many would never have considered starting their own business otherwiseHave corporate know how, lack start-up insight

11. Small Business & EntrepreneursCharacteristicsInnovative, nimble, non-descriptStrong community tiesResource scarcityCapital, knowledge, time, experience, accessLikely to falter and failGenerate wealth slowlyNeed support

12. Elements of SupportTechnical assistanceBusiness Plan, Grant Apps, Staff Development, marketing and product development, improve design and process, bookkeepingProviding business spaceAffordable, flexible terms, easy termination, resourcesFinancial assistancePreparation, connecting

13. Small Business IncubationEntrepreneurial centers, accelerators & incubators – Oh my!What is incubation?Place, rent levels, termsExpertiseShared support servicesNetworking and connection opportunitiesTimelines…

14. Small Business IncubationPractitioner ObjectivesCluster focus – technology, bioscience etc.Economic diversificationRevitalizationOthers?What does your community need?

15. Cluster Based Economic DevelopmentThe Columbus Region is recognized for the following clusters:Transportation/Logistics, Business & Professional Services, Financial Services, Advanced Manufacturing, Automotive, Personalized Healthcare, Tourism, Arts & EntertainmentGovernmentThe talent and the support structure, related to these clusters, help small business growthSoftware & Support Firms, Network of financial institutions and VCs, a Major Research University, and 120,000 local college students

16. Economic Developer Roles What should practitioners’ role be?Technical assistance?Financial assistance/access?Marketing?Expertise?Who in the room…Political fortitude

17. Economic Developer RolesSource: Business Model Generation, page 247 by Alexander Osterwalder and Yves Pigneu

18. Economic Developer RolesPartner!Practitioners can’t be everything to all peopleNeed for collaborators to fill in gapsCreate an environment where it all can come together, easy access

19. Economic Developer Roles Set the conditionsMarshal resourcesConnections, connections, connectionsPlacePurposeSelf organizing groupsThink periphery (get out of the way)

20. Economic Developer RolesResourcesCentralOhioEntreprenuers.orgNBIA www.nbia.orgCommunity Capitalism by Daniel Gross and Heather SmithEntrepreneurial Signature ProgramsSmall Business Development CentersSCORELocal entrepreneurs, business leadersBankers, lawyers, accountants

21. Technology-Led DevelopmentThird Frontier ProgramOhio Tech Angels – 2nd largest in AmericaTechStart: $22.5 million venture development programCoached 1,153 startups over five yearsInvested 16.4M in 93 technology startupsRaised $338M for funded/incubated

22. Technology-Led DevelopmentTechColumbusAward winning technology incubator750+ members – communities, businesses and individualsThe nation’s only non-profit IT testing lab and data center15 county regionSatellite community entrepreneurial centers

23. City of DublinTechColumbus partnershipDemographicsEconomic Development Team3 City employees, 7 consultantsDEC Team3 City employees, 4 entrepreneurial contractorsKey initiativesSetting conditions

24. City of Dublin

25. Dublin Entrepreneurial Center

26. Dublin Entrepreneurial Center

27. Dublin Entrepreneurial CenterNot an Incubator??Economic Development Team initiative45,000 square feet – 4 floorsApril 2009 - Grand opening (95% empty!)2009 Goals – Brand Facility, Flexible Space, Establish Programming & Resources22 companies by end of 2009

28. Dublin Entrepreneurial CenterApril 2010 – 1 year anniversary2010 Goals – Continue ‘09 GoalsPlus expand to 2nd Floor, develop Green IntegratorGreen Integrator – 12 green companies2010: 200+ events & 3,000+ attendeesEntrepreneur Camp – Dublin Apprentice1st Quarter 2011: 53 companies

29. Dublin Entrepreneurial Center