Priorities: Airport Expansion / National Airport System (NAS) Restriction Population Growth Re-start of Provincial Nominee Program (on hold since September 2013), equitable provincial immigration caps, ability to hire international students under federal summer student program, promotion of Startup Visa Program (SUV) Entrepreneurial Services Delivery Model-Subway Export Igniter (accelerator) Cybersecurity Initiative Investment Attraction Lifestyle & Business Climate arts, culture & wellness Future Workforce Development (education & training) Youth Engagement / Career Development Innovation District & Digital Product Development Living Lab Vision 2020 Deliverables / Accomplishments: Effective Economic Development Model & Strong Economic Development Ecosystem Measuring Success ROI Attracting Investment & Business Growth Attracting & Retaining Talent (Population Growth) Supporting Sector Growth & High Value Industry Supporting Startups Building the Brand & Marketing Municipal Partners: Vision 2020 Community Report Card June 8, 2016 40 Crowther Lane, Suite 100, Knowledge Park, Fredericton, NB, E3C 0J1 506.444.4686 info@ignitefredericton.com www.ignitefredericton.com
Effective Economic Development Model & Strong Economic Development Ecosystem Ignite Fredericton, the catalyst community economic development agency and steward of Vision 2020, has evolved through the integration of operations with Planet Hatch & Knowledge Park. Through a fully integrated team, the results are an effective and accountable economic development model focussed on: Mission: Fuelling Entrepreneurs for Economic Growth! Vision: Startup (entrepreneur) Capital of Canada Core Functions: Ignite Fredericton www.ignitefredericton.com Economic Development Catalyst Agency Export Readiness, Sector Expansion & Growth Investment Attraction Stakeholder Collaboration & Partnerships Population Growth (immigration, student retention, repatriation) Marketing, Communications & Promotions Planet Hatch www.planethatch.com New Brunswick s Flagship Business Accelerator Startup Services (free/confidential business advice, programs/ funding, business tools) Business Acceleration Programs (Start, Build, Launch) Coaching & Mentoring Services Community & Startup Events Collaboration Space Knowledge Park www.knowledgepark.ca New Brunswick s Only Technology & Research Park Clustering Environment for Knowledge-based Companies Digital Infrastructure Leasing & Facilities Operations The economic development ecosystem has also been further strengthened through strategic alignment and inter-governmental and agency partnerships. Most importantly being the co-location of partners, which has created a single point of contact to access entrepreneurial support and services. A one-stop-shop was a key recommendation of Fredericton s first economic development strategy, Vision 2000, in 1992! (see facing page). 3 4
Entrepreneurial Support Talent Attraction & Retention Strategic Initiatives, Infrastructure, and Partnerships Start Grow Locate Immigration, hosting, follow-up and aftercare Immigration, retention, and repatriation Strategic alignment Collaboration Strong ecosystem Diversification Clustering Strategic value-add solutions Report Card 2015/2016 VISION 2020 IGNITE FREDERICTON & PLANET HATCH 2015 156 direct jobs 60 indirect jobs 33 startups 3 investment attractions 1,150 coaching & mentoring hours $639K SEED Capital loans managed 15 events with 455+ participants PLANET HATCH 2016 (YTD) 6 companies Spring LAUNCH cohort 2016 (YTD) 254 direct jobs 96 indirect jobs 22 startups 918 coaching & mentoring hours $845K SEED Capital loans managed 9 companies in collaborative space 2015 114 exploratory visitors 355 potential immigrants 770 landed immigrants 9% PROVINCIAL NOMINEE PROGRAM ON HOLD SINCE SEPT. 2013 Events and Programs/ Strategic Initiatives KIRA & Innovation Week celebrating success Choose Fredericton talent pool Arts Link entrepreneurial support 2016 (YTD) 2 exploratory visitors 5 potential immigrants 6 SUV applications L.I.P. Local Immigration Partnership [LAUNCH Mar. 21, 2016] Natural Resource Task Force [LAUNCH May 5, 2015] Startup Task Force 37 companies 800+ direct jobs Companies from Knowledge Park occupy 75K sqft Fredericton commercial market demand 5 of 6 East Coast Startup Canada Awards #7 ranking fdi magazine #1 ranking KPMG 2016 report 5 6 Awards $184K NOI 2016(YTD) $145M GDP impact KNOWLEDGE PARK $50M knowledge-based asset infrastructure For every $1 invested, Knowledge Park generates $2.10 in property tax 82% employees with degree or diploma 49% are UNB educated
Measuring Success ROI The results speak for themselves with the creation of 55 new startups and 410 new jobs since January 1, 2015. The Vision 2020 Report Card (previous page) provides a snapshot of key performance indicators. Let s take a closer look in terms of the actual economic impact on New Brunswick with a 21 month return on investment (ROI) over the last two years of Ignite Fredericton s SEED loan companies and Planet Hatch accelerated companies. City of Fredericton ROI: 245 Jobs (319 indirect) 86% Success Rate $26.9 M/Y GDP $2.3 M/Y NB Tax/Y $290 K/Y Property Tax to Stakeholders $13.2 M/Y Consumption $3.2 M/Y = 18 New Homes $1.1 M/Y Utilities & Home Services $720 K/Y Recreation = 50 K Movies $1.2 M/Y Food = 35 K Restaurant Meals $3.6 M/Y Transportation = 123 New Vehicles Based on research by Tacit Elements New Maryland ROI: $1 investment in Ignite = $1.35 returned in annual property taxes 9 jobs = $5,387 returned in property taxes 7% of jobs created in Fredericton are held by New Maryland residents Oromocto ROI: $1 investment in Ignite = $2.60 of consumer spending in the town 1 new job = $1,157 returned in annual property taxes 2.4 jobs = $2,780 returned in taxes Attracting Investment & Business Growth Investment Attraction Strategy During the summer of 2015, through the federal Invest Canada Community Initiatives (ICCI) funding program, Ignite hired a consultant to conduct a research analysis which included: an investment attraction strategy, geographic targets, asset mapping based on existing cluster development, a comparative matrix (comparing Fredericton to 16 jurisdictions), identification of growth sectors and value propositions i.e.: Innovation District Low Operating Costs & Taxes Talent Pipeline & Retention Telecom/Digital Infrastructure Strategic Location & Access Sphere of Influence (access to key decision makers) Growth Sectors These four sectors and several sub-sectors are poised for exponential growth. Biotechnology Engineering ICT Natural Resources Investment Attraction Tool-Kit The research analysis was foundational to the development of collateral, investment attraction tool-kit, which includes a search engine optimized website, sector profiles, a community profile, blog content, slide deck, and Siemens case study describing the Digital Product Development Living Lab model (see page 9). Investment Attraction & Growth Specialist In the Fall of 2015 through increased municipal funding contributions, Ignite Fredericton was able to hire an Investment Attraction & Growth Specialist, Adam Peabody. Adam works closely with all stakeholders such as ONB and UNB in an effort to attract new businesses to the Fredericton Region. He also works with growth stage companies looking to expand and export. As such, Ignite will be launching an export accelerator in January 2017 (see page 9). Fredericton Business Ambassador Program Renewal Founded as a first of its kind in Canada in 2002 and modelled by other communities, the Fredericton Business Ambassador Team grew to 720 people. In 2013, the program was paused due to the secondment of the program coordinator to manage Vision 2020. Later this year, Ignite will host a Fredericton Ambassador reunion to ignite the flame, and reinvigorate the program with a lead generation and business focus. 7 8
Fredericton s Product Development Living Lab Multi-sector product development opportunities Innovative companies whose success depends on keeping ahead of the curve in product development see the value and opportunities in Fredericton and its Living Lab Product Development ecosystem which includes: In-market global leadership in diverse sectors High value, world leading research expertise An innovative and entrepreneurial culture A deep talent pool Advanced digital infrastructure A right-sized market testing arena that s readily accessible A repeatable and scalable experience Turn on a dime access to decision makers and stakeholders Opportunity Utilizing the Siemens Smart Grid project as a case study, there is opportunity to target the product development needs of large global corporations using the attributes of our regional market (talent, research capacity, digital infrastructure, etc.) across all four priority growth sectors. Attracting & Retaining Talent (Population Growth) Ignite Fredericton houses the City of Fredericton funded position of Population & Growth Specialist (formerly known as the Immigration Coordinator). Julia Ramirez leads efforts focused on: Immigration: o Attraction Host, follow-up, intercept and refer during settlement o Retention Newcomer integration and aftercare (see LIPF below) Student Retention (see Choose Fredericton below) Repatriation Liaising with GNB on targeted missions and efforts Workforce Retention Various efforts to attract/retain skilled professionals & retirees Refugees Liaising with the Multicultural Association with respect to settlement and workforce readiness Startup Visa Planet Hatch is the only provincial accelerator to offer the new federal Startup Visa Program directed at attracting and retaining international student entrepreneurial talent. Local Immigration Partnership of Fredericton (LIPF) Ignite secured over $120K in federal funding to develop a strategy and implement the Local Immigration Partnership of Fredericton initiative focused on newcomer integration and retention. As part of this project, LIPF Council was formed, a newcomer services map developed (https://ignitefredericton.com/en/lip), and Adriana Rivas was hired as support under the guidance of Julia Ramirez. Business Growth & Export It is critical for our long-term success that we support our local market companies to grow and expand their services, products and markets. Ignite Fredericton is providing export growth support through counselling services to companies that are in expansion mode through export. As the local market subject matter experts, Ignite prioritizes opportunities that can leverage OpportunitiesNB, Atlantic Canada Opportunity Agency (ACOA) programs and the planned export accelerator program (Export Igniter). Choose Fredericton Choose Fredericton is an ongoing campaign as part of student/talent retention efforts. It encompasses various communications using social media, and advertising, as well as an annual event designed to network the students with the business community to create awareness about local career opportunities. Export Igniter Through an acceleration cohort model, to be launched January 2017, export-ready companies will participate in a 12 week program that delivers comprehensive service, programming, mentorship and resources to help them become operationally ready for export and develop a market entry strategy. Through the strategic partnership with UNB, undergraduate students will have access to the program and work in teams with companies to assist in developing their market entry strategy while gaining experiential learning opportunities. 9 10
Supporting Sector Growth & High Value Industry Vision 2020 proposed the following high value industries: ICT, engineering, education & research, arts & culture, aerospace & defence, tourism, natural resource development, social entrepreneurship, and boomer services & support. As outlined in the section titled Attracting Investment, Ignite developed an FDI strategy focused on the growth potential of four sectors as outlined in the Sector Profiles for: Information/Communications Technology [cybersecurity, big data, geomatics/gps/avionics] Natural Resources [oil & gas, mining, forestry, agri-technology] Biotechnology Engineering Ignite has also formed a number of task forces, developed strategic initiatives, and formed partnerships to drive sector growth. Some highlights include: Arts & Culture Ignite is a strategic partner of Culture Connect, and is working with the arts & cultural community to promote entrepreneurship. A vibrant arts & cultural community is an integral element with respect to the attraction and retention of people and businesses. Ignite has established a cultural corner in its monthly newsletter, and promotes the importance of this industry across channels including the Choose Fredericton campaign. Ignite has also developed an asset map of the ecosystem. Education & Research With UNB producing over 75% of the province s university related research, the fourth highest university education populations in the country, and being home to four universities and seven colleges education and research is an important asset with respect to investment attraction and business growth. Ignite has packaged these assets as part of the Innovation District (see page 15) and its Digital Product Development Living Lab (see page 9). Tourism Fredericton Tourism leads the community tourism development efforts reporting an all-time high of $241.5 million in economic impact during 2015, up from 3.7% over 2014. Natural Resource Development With over $7 billion in projected investment in major, provincial natural resource projects, Ignite formed its Natural Resource Task Force, chaired by Andrew Steeves, to maximize opportunities with respect to responsible development. It was launched May 2015 with 70 people in attendance and great news coverage. Natural Resource Relevance Fredericton Region $600M Nat-Res GDP 5K Nat-Res Employed $4B GDP 50K Employed Natural Resource Sector $3.9B GDP 30K Employed Provincial $32B GDP 354K Employed Task Force Focus ADVOCACY WORKFORCE READINESS BUSINESS DEVELOPMENT Balanced Conversation Collaboration Information & Communications Supply Chain Investment Growth Innovation & Export Labour Market Skill development Over $50M invested more than 300 jobs already 5000+ potential jobs 11 12
Supporting Startups Startup Task Force There are numerous organizations in the economic development ecosystem, helping startups commercialize their ideas into game-changing products and services, and driving our Startup Capital vision. One of the key drivers that has strengthened the entrepreneurial ecosystem was the formation of the Startup Task Force, Chaired by Rivers Corbett. CONNECTIVITY Creating a cohesive startup ecosystem COLLABORATION Working strategically with stakeholders to identify opportunities to collaborate and avoid duplication COMMUNICATION Sharing information internally and externally Planet Hatch has expanded its programming to include a broader intake model to include all startups. We offer programs such as an Idea Lab, a themed entrepreneur in residence program, and Office Hours for professional services. Most importantly, we have partnered with the UNB Faculty of Business Administration to run the Activator Program, in collaboration with the center, enabling experiential learning for students and entrepreneurs. Karen Murdock has been seconded as the Chief Program Officer for Planet Hatch, working with Mike Mazerolle, Business Startup Specialist and Lisa Kinney, Entrepreneurial Services Coordinator. Working through the Startup Task Force, service offerings have been aligned with the various stages of business (ideation, validation, growth, maturity) using a Subway analogy. The concept is that no matter where the entrepreneur gets off the subway, they can access entrepreneurial support, and all stakeholders can help them navigate the ecosystem. Partners Knowledge Park, New Brunswick s only technology and research park, is a clustering environment for knowledge-based companies. Managed by Wade Harrington, Accounting & Operations, the park is home to 37 companies and over 800 employees generating an annual GDP impact of $145 million. Knowledge Park is a for-profit organization, which re-invests revenue back into economic development. Knowledge Park was the key driver in the creation of Planet Hatch. The Park is a member of the national Association of University Research Parks (AURP), currently chaired by Knowledge Park CEO, Larry Shaw. Knowledge Park is located within the heart of the Innovation District (see page 15), which is a two kilometre radius encompassing over 60 R&D organizations including the University of New Brunswick, which outputs over 75% of the province s university-related research. 13 14
The Innovation District Building the Brand & Marketing The marketing unit of Ignite Fredericton is led by Laurie Guthrie, Economic Development & Marketing Specialist, working with Tahlia Ferlatte, Marketing & Communications Coordinator and Ian LeBlanc, Business Intelligence Coordinator. Following the 2014 re-branding of Ignite Fredericton, and development of various collateral and tools like the website, marketing and promotional efforts have focussed on the brand integration of Ignite Fredericton, Planet Hatch and Knowledge Park. Efforts are also focussed on building the Fredericton brand, including increased brand equity as a smart city, as well as celebrating local successes. Integrated Marketing & Communications Plan (ongoing activities) Advertising plan (digital, traditional, outdoor (buses & shelters), radio, etc. Promotional Videos - http://ignitefredericton.com/en/videos-andpublications (available in five languages) Monthly Newsletters - http://ignitefredericton.com/en/newsletterarchives Business Profile Series - https://ignitefredericton.com/en/businessprofile-series (celebrating and profiling local businesses/clients) Newcomers Guide (available in English, French, Arabic) Social Media Plan Composition (including analytic framework and management of 13 social media channels) Investment Attraction Tool-kit Development Impressive Earned Media (including a 16 page feature in Progress Magazine and publication of an innovation focussed monthly column in the Daily Gleaner) BRE Survey (terms of reference/project initiation) CRM (initiation/implementation) Awards & Recognitions Placed #1 for most cost-competitive place to do business in 2016 KPM Competitive Alternatives Study Spearheaded a full slate of nominations for the Startup Canada Awards, in collaboration with UNB and Startup Fredericton, and won five of nine awards for the Atlantic division Ranked among the 2015/16 Top 10 - fdi *American Cities of the Future in three categories for populations under 100,000 (micro) (*American refers to North, South & Central Americas) Pitched Fredericton for Progress Media s Innovation in Practice Awards, and placed among eight finalists this May 2015 Communication Plans Development and implementation of marketing/communication plans for the Natural Resource Development Task Force, Startup Task Force, Choose Fredericton Campaign, New Brunswick Innovation Week, Export Igniter, Ambassador Program Renewal. Advocacy Immigration, airport expansion/nas, Sisson mine, Energy East Pipeline, Arts NB, Canadian Cybersecurity Institute, natural gas Event Highlights Sept 10th Business-After-Hours & Simptek Announcement Celebrating the second year anniversary of Planet Hatch, and hosting a news conference for Simptek to announce NB Power pilot project (early adopter). Sept 24th Choose Fredericton (student/business mixer) Connecting post-secondary students from seven educational institutions with local employers. Oct 15th Startup Awards News Conference / Announcement Announcing/celebrating Fredericton s achievement in sweeping 5 awards. Planet Hatch Events - Hosting numerous startup related events and strategically participating in events like East Coast Startup Week, PropelICT Demo Day, etc. May 3-5th New Brunswick Innovation Week / KIRA Delivering three days of innovation focussed content targeting youth, research and business, concluding with the 18th annual KIRA Awards. Last but not least, the team would not be complete without the dedication and support of our Office Manager, Wendy Gallant, and our Client Services Assistant, Michelle Hull, who keep the office running smoothly. We would also like to thank the many volunteers, interns, and summer students who continually give their time to our organization. 15 16