Call Girls Zirakpurđ§ Book Nowđą7837612180 đđCall Girl Service In Zirakpur No A...
Â
Is Incubation a Winning Strategy?
1. Is Incubation a Winning Strategy?
Evansville Entrepreneurship Sub-committee
December 16, 2015
Craig Kettleson
2. Craigâs Economic Development and
Incubation Experience
⢠27 Years in Economic Development
⢠Specific Incubation Experience
â Wisconsin Department of Development â CBED Program
â Wisconsin Business Incubation Association
â NBIA Certified Incubation Manager
â Two Feasibility Studies: Superior and Phillips
â Portage Enterprise Center
3. Entrepreneurship and Economic
Development: Some Context
⢠Economic Development a 3 Legged Stool: Entrepreneurship, BRE,
Attraction
⢠Ewing Marion Kauffman Foundation Study
â New businesses account for nearly all net new job creation and almost
20% of gross job creation in the US economy
⢠Entrepreneurship is Becoming and Important Rural ED Strategy
⢠Business Incubation in State and Region
â State: 35 Total Incubation and Kitchen Facilities (WBIA)
â Region:
⢠17 Total Incubation and Kitchen Facilities (50% of State Total)
⢠32 I&E Spaces
4. Is Incubation a Winning Strategy?
Key Concepts (Takeaways)
⢠Capital Costs of Business Incubation
â $3.0M for 30,000 sf Facility ($100 psf)
â Portage Enterprise Center: $1.8M for 30,000 sf ($60 psf)
â Janesville Innovation Center: $3.0M for 22,000 sf ($136 psf)
⢠Operational Costs
â $500,000 Annually
⢠Incubation is a Process (or Program) vs. Space
â âStarting a company is like throwing yourself off a cliff and assembling an
airplane on the way downâ Reid Hoffman, LinkedIN co-founder
5. Is Incubation a Winning Strategy?
Key Concepts (Takeaways)
⢠Incubators are Businesses
⢠Success is Based Upon Sound Business Planning and Execution
â Good Market Research; Facility Responsive to the Market
â Provide a Value Proposition to Tenants
⢠Flexible Space vs. Below Market Rent (Process vs. Space)
⢠Mentorship
⢠Networking
⢠Technical Assistance
â Take Risks Around Plans for Each Tenant
â Strong Management and Well Qualified Service Providers
â Financial Plan to Break Even (ideally within 2-3 years)
6. Options for Evansville
⢠Traditional Incubation
⢠Virtual Incubation (Independent or as an Affiliate)
⢠Satellite Facility (maybe of the JIC)
⢠Co-working Space
⢠Hacker or Makerspace
⢠Other Options??