THE COMMUNITY COLLEGE S ROLE IN BUSINESS INCUBATION

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Calvin Wheeler
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1 THE COMMUNITY COLLEGE S ROLE IN BUSINESS INCUBATION

4 MAKE RELATIONSHIP PRODUCTIVE ANTICIPATE THE CONSTRAINTS CAPITALIZE ON THE SUCCESSES

5 THE INCUBATION INDUSTRY 1958 IN BATAVIA, NY 1500 U.S. INCUBATORS 5000 WORLDWIDE

6 ENTREPRENEURISM ENTREPRENEURSHIP

7 BUSINESS INCUBATION ADDS SKILLS TO THE MINDSET ELIMINATES CONSTRAINTS TO THE PROCESS

8 SELF SUPPORTING VS. SELF SUFFICIENT

9 SUPPORT COMES FROM ACADEMIA LOCAL GOVERNMENTS ECONOMIC DEVELOPMENT INDUSTRY

10 IN % U.S. INCUBATORS SPONSORED BY ACADEMIC INSTITUTION 2006 NBIA STATE OF THE INDUSTRY STUDY

11 2011 SURVEY OF 300 INCUBATORS 26% UNIVERSITY AFFILIATION 8% COMMUNITY COLLEGE AFFILIATION 2011 NBIA MEMBERSHIP SURVEY

12 SUPPORT OF THE INCUBATION PROCESS BY ACADEMIA MAY BE INCREASING

13 TRENDS HIGH TECH / BIO SCIENCE STUDENT RURAL MIXED USE

14 NBIA CONFERENCE CONTENT TOP GRADUATE AWARD REGIONAL/RURAL EDC PROGRAMS

15 MIXED USE INCUBATORS AND COMMUNITY COLLEGES OFTEN SHARE THE SAME GEOGRAPHY

16 WHY NOT SHARE THE RESOURCES TO FOCUS ON THE SAME OBJECTIVES

17 THE WIN-WIN COMBINATION INCUBATOR STAFF CAN OFFER REAL WORLD BUSINESS EXPERIENCE

18 THE WIN-WIN COMBINATION COMMUNITY COLLEGES CAN PROVIDE FINANCIAL SUPPORT, TRAINING AND MENTORING RESOURCES

19 RURAL INCUBATION AND HIGHER EDUCATION IS AN INTERNATIONAL PHENOMENON MALDOVA

20 SMALL BUSINESS DEVELOPMENT CENTERS

21 ONE STOP SHOPPING INCUBATOR SBDC SCORE CONTINUING EDUCATION WORKFORCE TRAINING

22 THERE CAN BE ISSUES

23 LEGAL LIABILITY UNRELATED BUSINESS INCOME

24 OPERATIONAL CONSTRAINTS

25 INCUBATORS NEED TO OPERATE AT THE SPEED OF BUSINESS

26 EDUCATIONAL INSTITUTIONS HAVE POLICIES PROCEDURES AND REPORTING STRUCTURES UNIQUE TO THE ACADEMIC ENVIRONMENT

27 CHANGES TO FACILITIES PURCHASING PRESS RELEASES ALCOHOL/FOOD POLICY BUSINESS MENTALITY SCHEDULE

28 COMMUNITY INVOLVEMENT

29 SPONSORSHIP ADVISORY BOARD COMPETITION

30 METRICS

31 THERE IS ONE INDUSTRY STANDARD FOR EVALUATING AN INCUBATOR RESULT

32 GRADUATE SUSTAINABILITY

33 GOAL 80% + SUSTAINABLE FIVE YEARS AFTER GRADUATION

34 SECONDARY GOALS IMPROVE ABILITY TO SUCCEED IMPROVE QUALITY OF LIFE GOOD FOR COMMUNITY OKLAHOMA TECH COLLEGE

35 SBDC METRICS JOBS CASH INFUSION

36 1 ST GRADUATE OF R 3 BI 1.2 MILLION CASH 20 NEW PRIMARY JOBS 18 MONTHS AFTER GRADUATION

37 HOW DOES YOUR INSTITUTION MEASURE RESULTS?

38 THE METRICS ISSUE IS UNIVERSAL

39 FOR SUCCESS REALISTIC ATTAINABLE MUTUAL

40 COMMUNICATION ISSUES PRIVACY CONFIDENTIALITY TELEPHONE INTERNET SECURITY

41 PLAN FOR THE ISSUES RESOLVE EARLY

42 ADVANTAGE COLLEGE FOCUS ON COMMON COMMUNITY

43 ADVANTAGE COLLEGE REPUTATION CREDIBILITY SOUTHEAST CC SAN JUAN COLLEGE

44 ADVANTAGE COLLEGE SHARING RESOURCES TYLER JC SOUTHEAST CC

45 ADVANTAGE COLLEGE FINANCIAL SUPPORT NO FUND RAISING NO RENT MANAGEABLE OPERATING COST

46 ADVANTAGE COLLEGE COOPERATIVE PROGRAMS Asheville-Buncombe Technical Community College Gateway Community College

47 ADVANTAGE COLLEGE COOPERATIVE PROGRAMS Center for Innovation and Entrepreneurship Project Based Learning Student Workers Interns Mentors

48 ADVANTAGE COLLEGE COOPERATIVE PROGRAMS Business Plan Competitions Student Entrepreneurial Clubs Student Business Incubation

49 ADVANTAGE COLLEGE COOPERATIVE PROGRAMS Certificate in Entrepreneurship

50 A COMMUNITY COLLEGE BUSINESS INCUBATION ALLIANCE CAN BE THE BEST OF SEVERAL WORLDS MARK OLCHEFSKE, NORTH IOWA AREA COMMUNITY COLLEGE

51 TO MAKE THE MOST OF THE RELATIONSHIP: ADDRESS THE ISSUES AGREE ON THE METRICS SET UP COOPERATIVE PROGRAMS

52 SUCCESSFUL PROGRAMS HAVE INNOVATION & CREATIVITY

53 Minnesota State Community & Technical College s Business & Entrepreneurial Services (BES)

54 Ms. Beth Pridday Executive Director

55 Beth Pridday, Executive Director

56 THE HIVE [an innovative incubator marketing agency co-op supported by Business & Entrepreneurial Services that offers collaboration for creative and marketing professionals in an agency-like setting].

57 Why THE HIVE at M State? Vision Statement M State will be a regionally recognized organization focused on and partnering for innovation, learning, and your future.

58 Our Formula 1) Creating a culture of innovation and success & entrepreneurial spirit. 2) Strengthening new and nearly new business through professional development. 3) Developing strong training services for entrepreneurs. 4) Continue to build collaborations throughout our region.

59 Having an office in our co-op marketing agency means: Inspired creativity they work around and with other creative, like-minded individuals. Opportunity for professional networking and referrals where they can collaborate, learn and grow with others. They are a part of an agency community and have professional, private space to meet with clients.

60 What are we looking for? Applicants suited for a marketing agency co-op: Marketing Advertising Public Relations Specialist Photographer Web Designer Graphic Designer Writer Grant Writer Illustrator Videographer

61 What does THE HIVE have to offer? Opportunity to grow a creative business in an affordable collaborative incubator atmosphere. Direct referrals from BES staff. Access to instant clients that are growing businesses in the 53incubator offices in 5 locations (Detroit Lakes, Frazee, Perham, New York Mills, and Hawley) A referral system that allows you to quickly build their business.

62 Amenities of THE HIVE Hi-Speed internet (including WiFi). Access to conference room with Skype & conference call capabilities. Professional office furniture (desk, file cabinet, office chair, and client chair). Use of M State classrooms for trainings & education. Break Room amenities such as fridge, microwave & coffee pot. Professional reception area.

63 Fees & Referral Agreement $100 monthly rent (flat/monthly charge on all office spaces) $50 sign fee (one time charge for a logo name on our outside sign) Incubator tenants get preferred services. 15% of all referred services & clients from BES

64 Referral Agreement

65 Referral Card

66 Early Results 25 referrals to THE HIVE tenants to-date from BES staff. More than $3000 in business transactions have been completed to-date by THE HIVE tenants. 5 of 6 offices in THE HIVE have been occupied since opening in May All HIVE tenants have participated in workshops and trainings offered by BES on a voluntary basis.

67 THE HIVE Ribbon Cutting

68 THE HIVE Offices

69 THE HIVE Signs

70 THE HIVE Tenants

THE HIVE Incubator Tenants Right Hook Kelly Schiffner Suite 92 Custom graphic design & creation of: logos, business cards, letterhead & envelopes, business forms, Brochures, posters, product

71 THE HIVE Incubator Tenants Right Hook Kelly Schiffner Suite 92 Custom graphic design & creation of: logos, business cards, letterhead & envelopes, business forms, Brochures, posters, product catalogs, invitations, announcements, banners, cards, menus and more. I chose THE HIVE because I wanted to be in an office environment with other entrepreneurs & small business owners and to build my client base with the referral program. Being part of THE HIVE has introduced me to a network of other local business owners and has helped me get my name out there. -Kelly Schiffner Right Hook

THE HIVE Incubator Tenants WriteWords Jackie Jenson Suite 93 Providing creative writing solutions for the business of life. Make the write impression with your words.

72 THE HIVE Incubator Tenants WriteWords Jackie Jenson Suite 93 Providing creative writing solutions for the business of life. Make the write impression with your words. The HIVE has been a great place to get connected, get valuable business insight from people who have faced similar situations and simply get going! With a variety of like-minded businesses, the atmosphere motivates tenants to keep moving their businesses forward while helping them to establish a firm foundation for future growth. -Jackie Jenson, WriteWords

73 THE HIVE Incubator Tenants DataWag.com Gabe Frobenius Suite 94 Mobile Web and App Solutions Database Desktop Websites Consulting DATAWAG.COM

THE HIVE Incubator Tenants Creative Marketing Solutions Carmen McCullough Suite 95 Helping small businesses, organizations, and creative entrepreneurs identify & reach their ideal customers.

74 THE HIVE Incubator Tenants Creative Marketing Solutions Carmen McCullough Suite 95 Helping small businesses, organizations, and creative entrepreneurs identify & reach their ideal customers. Initially I considered moving my marketing consulting business to THE Hive at M State because of the professional environment and proximity to like-minded, creative types. The high-speed internet service, access to meeting rooms, and the fully-furnished office were just icing on the cake. I enjoy working with the new clients I have met based on referrals from the Business & Entrepreneurial Services team and I look forward to helping them grow their businesses with solid yet innovative marketing initiatives. - Carmen McCullough - Creative Marketing Solutions

Successful Collaboration DETROIT LAKES, Minn. Jackie Jenson and Megan Hagel know that good things can happen when creative people work together.

75 Successful Collaboration DETROIT LAKES, Minn. Jackie Jenson and Megan Hagel know that good things can happen when creative people work together. The collaboration of the two women, currently tenants in the Business & Entrepreneurial Services Center on the campus of Minnesota State Community and Technical College in Detroit Lakes, resulted in Soggy Leaves, a children s book that s scheduled for publication this fall. It s been so beneficial, just being able to bounce ideas off the other tenants and Erika (Johnson, BES incubator manager) and Beth (Pridday, BES executive director), Hagel said. The greatest thing about being in the incubator is being around other entrepreneurs. It s so motivating.

76 Contact Us Beth Pridday, Executive Director Business & Entrepreneurial Services THE HIVE 900 Hwy 34 E Detroit Lakes MN beth.pridday@minnesota.edu

THE ENTREPRENEURIAL PUZZLE CONNECTING THE DOTS - EXTERNALLY AND INTERNALLY NACCE 2014 PRESENTATION COVER SHEET

THE ENTREPRENEURIAL PUZZLE CONNECTING THE DOTS - EXTERNALLY AND INTERNALLY NACCE 2014 PRESENTATION COVER SHEET Marilyn McDonald Strategic Business Development Officer Asheville-Buncombe Technical Community