UCF Business Incubation Program A CASE STUDY OF THE ENTREPRENEURSHIP ECOSYSTEM Tarek Salah, Nile University , Center for Innovation & Competitiveness Arab Science & Technology Foundation PM, Egypt, [email protected]IAMOT2009, Orlando, Florida, 5-9 April 2009
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IAMOT2009 UCFBIP Entrepreneurship Ecosystem case study-ed01
University of Central Florida Business Incubation Program Case Study.
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UCF Business Incubation Program
A CASE STUDY OF THE ENTREPRENEURSHIP ECOSYSTEM
Tarek Salah, Nile University , Center for Innovati on & Competi ti venessArab Science & Technology Foundati on PM,
UCF Office of Research and Commercialization (ORC)
UCF Venture Lab (VL)
Disney Entrepreneur Center (DEC)
The UCFBIP Entrepreneurship Ecosystem Interactions
S&T Policy Implications to support the Entrepreneurship Ecosystem.
RESEARCH INTRODUCTION
Growing interest to grow business incubators in the Arab World.
Business incubators viewed as key economic development tools.
Key research points: How effective are these systems? What supporting environment should be there? How this should affect S&T Policy development within developing
countries to apply these systems effectively to achieve their anticipated objectives?
Task: Study the UCF Business Incubation Program aiming to understand the
whole Entrepreneurship Ecosystem around that program influenced by the National Innovation System.
RESEARCH METHODOLOGY
Field Research at UCF: Attending some of the daily meetings at UCFBIP, visiting incubator sites and partners sites, investigating websites, interviewing key persons and presenting the work to all for validation.
Persons interviewed:1. Dr. Tom O’Neal, UCFBIP Director & UCF VP for Research2. Gordon Hogan, Business Development Executive & Manager of 2 sites
(Photonics & Downtown Orlando)3. Carol An Dykes, Technology Incubator Site Manager4. Esther Vargas Davis, Seminole County Incubator Site Manager5. Dr. Cameron Ford, Center of Entrepreneurship and Innovation (CEI) at COBA,
UCF6. Kirstie Chadwick, Venture Lab Director & Coach7. Jerry Ross, Executive Director, Disney Entrepreneur Center (DEC)8. Dr. Yasser Hosni, UCF Industrial Engineering and Management Systems.
Orientation about UCF Technology Centers and facilities9. Rene Ayala, Administrative Assistant at UCF Technology Incubator site.10.Managers of some incubated companies and graduated ones from the UCFBIP.
Seminole County
City of Winter Springs
UCF BUSINESS INCUBATION PROGRAM
The UCF incubation program is sponsored and managed through a collaborative partnership between:
UCF
Orange County
The City of Orlando
Florida High Tech Corridor Council
UCF BUSINESS
INCUBATION PROGRAM
MissionA University-driven community partnership providing early stage companies with the enabling tools, training and infrastructure to
create financially stable high growth enterprises
SINCE ITS FOUNDING IN 1999, THE UCFBIP HAS HELPED MORE THAN
100 EMERGING COMPANIES, CREATE OVER $500 MILLION IN ANNUAL REVENUE AND MORE THAN 900 NEW JOBS WITH AN AVERAGE SALARY OF $59,000.
NAMED THE TECHNOLOGY INCUBATOR OF THE YEAR IN 2004. RECENTLY NAMED AMONG TOP 10
IN THE US.
SUSTAINABILITY MODEL
Funding from key stakeholders for economic development & diversification, technology commercialization, and Generating high-growth companies that create high wage jobs and pay taxes to the government.
Having stakeholders embrace this mission, funding could be secured for as long as successful companies graduate and sustain.
No equity sharing in startups after graduation.
The rent paid by clients only covers half the rent of buildings.
UCF BUSINESS INCUBATION PROGRAM (UCFBIP) –KEY PARTNERS
UCFBIP
SBDC: UCF Small Business Development Center
DEC: Disney Entrepreneur Center
ORC: UCF Office of Research & Commercialization
COBA: College of Business Administration
VL: UCF Orange County Venture Lab
COP: College of Optics and Photonics
AeA FC: American Electronics Association Florida Council
iLLC: Inflexion LLC Venture Capital
UCF BUSINESS INCUBATION PROGRAM – FACILITIES
With 5 existing locations the Incubator consists of over 80,000 square feet
4. Downtown Orlando Technology and High
Growth Firms1. The technology
incubator at Research Park + Bennet Complex
Building
2. Photonics Incubator at CREOL on UCF
Campus
3. Seminole Country/Winter
Springs incubator
5. Orlando Business Development
Center, District 2 Incubator
UCF BUSINESS INCUBATION PROGRAM – Services List
Office Supplies/Services Furniture
Telecommunication
Government Contracting
Insurance
Business Counseling
Finanical Institutions
Media
Real Estate/Housing
Human Resources
Marketing/PR/Websites
Funding Sources
Legal Services
Finanical Services
0 2 4 6 8 10 12 14 16 18
3
7
8
9
10
10
10
11
12
15
16
17
18
UCF BUSINESS INCUBATION PROGRAM – Process and Key Performance Indicators
# of companies admitted into the incubator
# of graduating companies
# of jobs created
Pay Level to Jobs created
Annual Revenue for all companies
Equity Angel/VC investments in graduating companies
UCF ORC DEPARTMENTS
INCUBATION PROGRAM RELATION WITH ORC
Sponsored Programs
Venture Lab
Technology Transfer
Incubation Program
Compliance
Research Foundation
Centers & Institutes
UCF Office of Research &
Commercialization
Highly interacts with all Other components …
UCF VENTURE LAB
Students from COBA
and CEI work as
interns in VL
DISNEY ENTREPRENEUR CENTER
Mission:The Disney Entrepreneur Center is a unique public-private partnership dedicated to the development, growth and success of small businesses.
SERVICE PROVIDERS @ DEC
Through a cooperative effort of a diverse group of business support organizations, the Disney Entrepreneur Center offers professional business assistance, quality educational programming, and access to practical industry expertise.
DETAILED SERVICES @ DEC
Offices @DEC
Premises
A shop mall for entrepreneurs
THE SCORE FOUNDATION
ENTREPRENEURSHIP ECOSYSTEM INTERACTIONS
SCORE
UCFDEC
COBACEI
SBDC
ORCTTOVLUCFBI
PResearchers
Tech Centers/
Labs
Funding Programs Gov. Support Organizations
ENTREPRENEURSHIP ECOSYSTEM INTERACTIONS 1. Researchers apply for the Incubator (Tech)
SCORE
UCFDEC
COBACEI
SBDC
ORCTTO
VLUCFB
IP Researchers
Tech Centers/
Labs
Funding ProgramsGov. Support Organizations
General Training
ENTREPRENEURSHIP ECOSYSTEM INTERACTIONS 2. Startups in the Incubator
SCORE
UCFDEC
COBACEI
SBDC
ORCTTO
VLUCFB
IP Researchers
Tech Centers/
Labs
Funding ProgramsGov. Support Organizations
Partners in Business Support
Services/VCs/AeA
ENTREPRENEURSHIP ECOSYSTEM INTERACTIONS 3. Community Entrepreneurs (Non-Tech)
SCORE
UCFDEC
COBACEI
SBDC
ORCTTO
VLUCFB
IP Researchers
Tech Centers/
Labs
Community
Entrepreneurs
(Non-Tech)
Funding ProgramsGov. Support Organizations
Community
Entrepreneurs
(Non-Tech)
ENTREPRENEURSHIP ECOSYSTEM INTERACTIONS 4. Community Entrepreneurs (Technology)
SCORE
UCFDEC
COBACEI
SBDC
ORCTTO
VLUCFB
IP Researchers
Tech Centers/
Labs
Community
Entrepreneurs
(Technology)
Funding ProgramsGov. Support Organizations
A WHOLE SME BUSINESS SUPPORT NATIONAL STRATEGY
A whole SME Business Support Ecosystem (Nation Strategy) is needed to effectively advance the economy through SMEs.
Incubators must integrate with other components within a National Innovation Management System to be used as one of the economic development strategy tools.
If support services are not market-driven and focused on their customer’s needs (the SME needs) they are likely to be irrelevant and unlikely to achieve meaningful outcomes.
Scope of S&T Policy
Priorities
S&T POLICY TO FOSTER THE ENTREPRENEURSHIP ECOSYSTEM
High Quality Research
UniversitiesMature
VC/Angel Fund Industry/Fundin
g Bodies
Technology / Research Park
Incubation Programs
Business Support Centers
Entrepreneurship / Innovation
Support Programs
Business Parks /
Clusters
SOCIETAL
MODEL
• Production capabilities & facilities• Resources existent in the country• Market maturity and diversity• Financing structures• Business types and SME challenges
•The scientific capability in terms of number of scientists, research entities & discoveries.•The national innovation system•The educational system quality•The supportive environment to technology
• Entrepreneurship spirit• Level of trust with gov. programs• Business ethics• Transparency rank of the society• Synergy degree between programs
• Executive and legislative system• Judiciary system
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THE NATIONAL INNOVATION SYSTEM (NIS)A TRIPLE HELIX ONLY!
The nation should have a national science base in research universities, which are contributing significantly to international progress in science and engineering research and are producing research doctorates in science and engineering. This is the ‘Science Base' for the NIS.
The nation should have an internationally competitive set of industries, exporting products and/or services competitive in the global market. This is “High-Tech Industry Base” for the NIS.
The nation should have government agencies which provide research funding to universities and industries for progress in science and technology -- at standards of international frontiers of science and technology. This is “Government Policies Base” for the NIS.
High-Tech Industry
Government S&T Policy
Research UniversitiesNG
Os
NGOs with mission to support Innovation and entrepreneurship play a very important catalyst role in building up the whole ecosystem
Thanks
Tarek Salah, Nile University RA, EGYMOT President,Arab Science & Technology Foundati on PM,