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Supporting Entrepreneurs and Start-up Companies
The document outlines the Fort Collins Economic Advisory Commission's efforts to support entrepreneurship and startup companies, highlighting various recognitions and rankings for the city in 2009. It details the city's economic strategies focused on business retention, expansion, and attraction, along with specific initiatives and resources available to entrepreneurs, including the CSU Research Innovation Center and various funding opportunities. Panel discussions during the event aimed to identify challenges and improvements for fostering a supportive environment for entrepreneurs in the region.
Supporting Entrepreneurs and Start-up Companies
- 1. 2009 Business Awards • One of 10 Great Places for Entrepreneurs to Retire: Forbes - June 2009 • Best Places for Businesses and Careers, 2nd; Forbes Magazine March 2009 • Ranked 1st Best Place to Live and Work for Young Professionals (pop. 100,000-200,000): Next Generation Consulting - March 2009 • Ranked 7th Best Midsize Metro in the nation: bizjournals.com - March 2009 • One of Top 20 Places to Thrive: Best Boomer Towns - February 2009 1
- 2. Supporting Entrepreneurs andStart-up Companies in Fort Collins & the Region Sponsored by the City of Fort Collins Economic Advisory Commission Celebrating Global Entrepreneurship Week November 18, 2009 2
- 3. Background • The City of Fort Collins Economic Advisory Commission is the sponsor of the event tonight. • The EAC is interested in learning more about the efforts underway to support entrepreneurship and start up companies. • Ultimately, the EAC will be making a recommendation to the City Council regarding the current level of programs and if additional effort may be needed. • Introduction of EAC members… 3
- 4. Panel Members • Mark Forsyth – Executive Director, Rocky Mountain Innovation Initiative • Mark Wdowik – President and CEO, CSU Management Corporation • Brad Florin – Florin, LTD • Ed VanDyne – CEO, VanDyne Super Turbo Charger • Mike Freeman, City of Fort Collins – Moderator 4
- 5. City’s Economic Strategy • Four key strategies: – Business retention, expansion, incubation and attraction – Be proactive on economic issues – Build partnerships – Diversify the economy 5
- 6. CSU Office of Research – Sponsored Research Office – Manages research Collaborations, partnerships, joint ventures CSU Research Foundation Tech Transfer Office – Technology licensing CSU SuperClusters – Commercialization and venture creation in targeted areas of excellence: CSU Management Corp – Venture finance: CSU Fund I, LLC 6
- 7. Business Innovation Model Pre-Incubation Incubation Retention Expansion Attraction Clean Energy Cluster Larimer Bioscience Cluster N. Colorado Geospatial Cluster 7
- 8. Always Important… Retention Expansion Attraction City of Fort Collins City of Fort Collins City of Fort Collins Downtown Development Downtown Development Fort Collins Chamber Authority Authority Northern Colorado Fort Collins Chamber Fort Collins Chamber Economic Corporation Northern Colorado Northern Colorado Larimer Workforce Center Economic Corporation Economic Corporation State of Colorado/OEDIT Small Business Small Business Development Center Development Center Larimer Workforce Center Larimer Workforce Center State of Colorado/OEDIT State of Colorado/OEDIT 8
- 9. But More FocusNeeded Here… Pre-Incubation Incubation Northern Colorado Rocky Mountain Entrepreneurship Network Innovation Initiative Small Business Development CSU Engines and Energy Center Conversion Lab RMII FastTrac CSU Research Innovation Center SAGE CSU Ventures/Superclusters CSU Ventures/Superclusters CSU Venture Fund I CSURF Technology Transfer Angel Capital Summit Poudre Library Business Research NOCO Angels SAGE 9
- 10. Pre-Incubation • SAGE Program – Advisors Network • Launching Kaufmann Foundation – FastTracs – Rapid business development services • CSU Ventures – SuperClusters – Early alignment of research & development 10
- 11. Business Incubation • Incubation Services: – Rocky Mountain Innovation Initiative (RMII) • Innovation based companies – Colorado State University’s Research Innovation Center (RIC) • Infectious Disease research – Engines and Energy Conversion Lab • Engines efficiency, alternative energy, smartgrid 11
- 12. 30,000 sq feet 3 Stories LEED Gold Solar (PV) Elec. Car Charging 12
- 13. CSU’s Research InnovationCenter • The 72,000-square-foot, $53 million facility will be the latest addition to CSU’s Infectious Disease Research Center. It will be located on the Foothills Campus. The center will provide a hub for university scientists and students to partner with businesses to develop new products to treat and diagnose infectious diseases. 13
- 14. Energy & EnginesConversion Lab • EECL awarded over $20M in research • EECL employs 12 professional research staff, as well as 50 graduate and undergraduate students • The EECL awarded over $55M in funding commitments for spin-off companies employing over 70 professional engineers, managers, and scientists 14
- 15. Targeted Industries • Clean Energy – DEN-ZED initiative • Biotechnology – RMI2 space, Research Innovation Center • Software – GIS focused • Uniquely Fort Collins – Be Local, Shop Fort Collins First • Exploring Water based cluster 15
- 16. Business Financing • Traditionally difficult in Northern Colorado • Efforts underway to improve access to funding… – Regional Venture financing opportunities • NoCoAngels • Northern Colorado Rockies Venture Club • Angel Capital Summit 16
- 17. 9,000 Technology Cluster Employment Trend 1,615 Source: QCEW; CSU Regional Economist 8,000 Source: QCEW; CSU Regional Economist Software Hardware 7,000 1,831 6,473 6,000 5,000 4,000 4,356 3,000 2,000 1,000 0 17 2002 2003 2004 2005 2006 2007 2008
- 18. Clean Energy ClusterEmployment Trend 2,500 Source: QCEW; CSU Regional Economist Source: QCEW; CSU Regional Economist 2,133 2,000 1,923 1,500 1,000 500 0 18 2002 2003 2004 2005 2006 2007 2008
- 19. Bioscience Cluster EmploymentTrend 2,000 Source: QCEW; CSU Regional Economist Source: QCEW; CSU Regional Economist 1,800 1,782 1,600 1,400 1,200 1,000 1,014 800 600 400 200 19 0 2002 2003 2004 2005 2006 2007 2008
- 20. Panel Questions… • What is working well now? • What are our challenges? • Questions from the audience – discussion… • What are the top one or two things that could be implemented to improve our ability to support entrepreneurs and start-up companies? 20
- 21. Closing Mike Freeman, Chief Financial Officer 970.416.2259 mfreeman@fcgov.com www.fcgov.com/business 21