This presentation was given as part of a two-day course for Economic Development Professionals sponsored by the Ohio Economic Development Association and focuses on entrepreneurial approaches to economic development and highlights the success we are having with the Dublin Entrepreneurial Center.

1. Small Business Development & ProgramsTechnology-Led Development

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 & Entrepreneurs Economies are driven by small businesses 4,000 and 7 Large businesses get the attention New business generation Who’s in the garage today? Where are businesses located? Focal points…

10. Small Business & Entrepreneurs Unemployed talent pool Difficult replacing prior position and salary Starting a small business helps displaced workers to get back into the economy. Job for 1 Many would never have considered starting their own business otherwise Have corporate know how, lack start-up insight

11. Small Business & Entrepreneurs Characteristics Innovative, nimble, non-descript Strong community ties Resource scarcity Capital, knowledge, time, experience, access Likely to falter and fail Generate wealth slowly Need support

12. Elements of Support Technical assistance Business Plan, Grant Apps, Staff Development, marketing and product development, improve design and process, bookkeeping Providing business space Affordable, flexible terms, easy termination, resources Financial assistance Preparation, connecting

13. Small Business Incubation Entrepreneurial centers, accelerators & incubators – Oh my! What is incubation? Place, rent levels, terms Expertise Shared support services Networking and connection opportunities Timelines…

14. Small Business Incubation Practitioner Objectives Cluster focus – technology, bioscience etc. Economic diversification Revitalization Others? What does your community need?

15. Cluster Based Economic Development The Columbus Region is recognized for the following clusters: Transportation/Logistics, Business & Professional Services, Financial Services, Advanced Manufacturing, Automotive, Personalized Healthcare, Tourism, Arts & Entertainment Government The talent and the support structure, related to these clusters, help small business growth Software & 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 Roles Source: Business Model Generation, page 247 by Alexander Osterwalder and Yves Pigneu

18. Economic Developer Roles Partner! Practitioners can’t be everything to all people Need for collaborators to fill in gaps Create an environment where it all can come together, easy access

19. Economic Developer Roles Set the conditions Marshal resources Connections, connections, connections Place Purpose Self organizing groups Think periphery (get out of the way)

20. Economic Developer Roles Resources CentralOhioEntreprenuers.org NBIA www.nbia.org Community Capitalism by Daniel Gross and Heather Smith Entrepreneurial Signature Programs Small Business Development Centers SCORE Local entrepreneurs, business leaders Bankers, lawyers, accountants

21. Technology-Led Development Third Frontier Program Ohio Tech Angels – 2nd largest in America TechStart: $22.5 million venture development program Coached 1,153 startups over five years Invested 16.4M in 93 technology startups Raised $338M for funded/incubated

22. Technology-Led Development TechColumbus Award winning technology incubator 750+ members – communities, businesses and individuals The nation’s only non-profit IT testing lab and data center 15 county region Satellite community entrepreneurial centers

23. City of Dublin TechColumbus partnership Demographics Economic Development Team 3 City employees, 7 consultants DEC Team 3 City employees, 4 entrepreneurial contractors Key initiatives Setting conditions

24. City of Dublin

25. Dublin Entrepreneurial Center

26. Dublin Entrepreneurial Center

27. Dublin Entrepreneurial Center Not an Incubator?? Economic Development Team initiative 45,000 square feet – 4 floors April 2009 - Grand opening (95% empty!) 2009 Goals – Brand Facility, Flexible Space, Establish Programming & Resources 22 companies by end of 2009

28. Dublin Entrepreneurial Center April 2010 – 1 year anniversary 2010 Goals – Continue ‘09 Goals Plus expand to 2nd Floor, develop Green Integrator Green Integrator – 12 green companies 2010: 200+ events & 3,000+ attendees Entrepreneur Camp – Dublin Apprentice 1st Quarter 2011: 53 companies

29. Dublin Entrepreneurial Center

30. Dublin Entrepreneurial Center

31. Dublin Entrepreneurial Center How? Think, plan, and speak forward Deliver Team “We” accomplishes more than “I” No room for egos or agendas Flexibility Market the audacious & exceed expectations

32. Dublin Entrepreneurial Center Why is it successful? Setting the conditions Vision and direction Hands-off leadership Committed team Self-organizing groups Diversity – Talent Rich “Arms wide open”

33. Dublin Entrepreneurial Center What is important? Company success On-site expertise Community Collaborators SBDC, CIFT, ALT, JASCO, TechLife Ohio, BW3’s, Worley Law, Possitivity, Huntington Bank, Sunny Street Café, Vivid Front High Speed Air, Commercial One Realty Education and networking Branding

34. Dublin Entrepreneurial Center What is being planned for 2011? Global Economic Development Center Expansion to 1st floor Leveraging international demographics Identifying resources, Collaborators, external groups Hosting initial events beginning in April Expansion of Entrepreneur Camp Café? The Sky is the Limit

35. Thank You Rick Coplin Venture Development Director TechColumbus Email: rcoplin@techcolumbus.org LinkedIn: www.linkedin.com/in/rickcoplin Twitter: www.twitter.com/RickCoplin Blog: MidWestTechBiz http://rickcoplin.blogspot.com www.techcolumbus.org www.DECinDublin.com Chaz Freutel Owner Get-U-Connected GreenVenturePartners Email: chaz@get-u-connected.com LinkedIn: www.linkedin.com/in/chazfreutel www.Get-U-Connected.comwww.DECinDublin.com