Innovation Center Realtors Presentation 9 28 16

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Presented by Jennifer SimonSeptember 28, 2016

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Outline• Mission• Defining Incubators• Pillars of the Innovation Center• Economic Impact and businesses

affected• How can we work together?

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MissionWe assist technology-based

companies in developing wealth and jobs by providing strategic business assistance, facilities,

networking and training

Established in 1983

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Defining IncubationAn organization designed to accelerate the growth and success of entrepreneurial companies through an array of business support resources and services that could include physical space, capital, coaching, common services, and networking connections.

From Entrepreneur Magazine.

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Innovation Center Process1. Discuss idea with Client Liaison

2. Work with Client Liaison to put together an application

3. The Associate Director and Director meet directly with the applicant to lay out expectations, ask thorough questions and determine if the company is a good fit. Lease and service agreements are signed

4. Company moves in and starts receiving services5. Total time for incubation is 5 years. The lease is

a graduated one. While we start companies out below market, we raise their lease amounts each year to approach market

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We’re more than a building

More than a real estate play

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Four Pillars of the IC•Business Assistance•Training•Networking•Facilities

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Business Assistance• Executives in Residence/IC EIR• Mentors• SBDC• Procurement Technical Assistance

Center• Business Remixed-Economic

Development • Monthly/Quarterly Meetings with

IC Clients

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Training•BOSS•Procurement•Monthly Lunch and Learns •Center for Entrepreneurship –

training within all Colleges including Fine Arts

•Other SBDC training

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Networking• The HUB• Entrepreneurship & Technology

Mixers• Client Networking Luncheons• CEO Roundtables• Founders Forum

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Core Facilities• Biotechnology Research &

Development -- $1million equipment investment

• Digital Media Incubator• Prototyping Center – 3D Printer• 33 Offices • 6 Wet Labs

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2015 Economic Impact

• Total Effect (combined impact)• 176 jobs• $7.2 million in compensation• Business income exceeding

$33.5 million• State and Local taxes $837K

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2015 Types of Businesses Impacted

• Construction• Manufacturing• Retail• Accommodations & food services• Health & social services• Administrative & Waste Services• Information• Professional/Scientific• Government

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2014 Economic ImpactTotal Effect (combined impact):• 139.8 jobs• $5.5 million in compensation• Business Income exceeding $3.7

million*• State and Local taxes $457k

• *Due to a glitch in the software, our companies produced over $22 million in revenue alone.

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Graduation: Ecolibrium Solar

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Our Future PlansRegional Innovation Network• 28 counties• Makerspaces to incubators• Traveling business coaches• Traveling engineering and design

services• Equipment• Facilities• Local Expertise

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How can the IC and realtors work

together?• Conference Room Availability

• Referrals back and forth• Market pricing research• Graduation preparation• Building graduation space

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Questions?