Business Incubation Tom O Neal September 16, 2010
Welcome from UCFBIP Management Team Tom O Neal Executive Director Gordon Hogan Director of Operations, Business Development Manager Site Manager - Photonics Incubator Henriette Schoen Carol Ann Dykes Esther Vargas-Davis Jim Bowie Melissa Wasserman James Spencer Rafael Caamano Program Dev. Coordinator & Site Manager, Research Park Site Manager, Winter Springs Site Manager, St Cloud Site Manager, Orlando Site Manager, Leesburg Point of Contact, Sanford 2
Big picture goals Expand high tech industry Engage the community Facilitate tech transfer Collaboration Economic development in the society
US: LAB TO MARKET ECO OMIC PYRAMID FAU 10/1/2002 jmc Taxes Jobs Research Park Product Incubation Company Technology and Graduates Funding for Labs World Class Researchers/Faculty
Intro to Incubation Smart place to start: Increase chances of success 87 % of incubator graduates still in business 5 years later (NBIA survey) Home grown companies 84 % of graduates stay in the community they were incubated in (NBIA survey) Good investment for you and your company Low cost per job generates more tax revenue than it costs
Intro to UCFBIP The UCF Business Incubation Program opened in December, 1999, as the UCF Technology Incubator. The Program now consists of seven facilities at six locations in Greater Orlando Facilities in total cover 125,000 sq. feet The Program is a partnership between UCF and the local government / community.
UCFBIP Mission Statement UCFBIP - MISSION STATEMENT: A University-driven community partnership providing early stage companies with the enabling tools, training and infrastructure to create financially stable high growth enterprises.
Current results from the UCFBIP Clients Companies currently serving >90 Companies graduated 42, 38 still in Region Companies assisted in total >140 Jobs created > 1600 Average salary $60,000 Investment raised $190 M Generated revenue > $500M Patents held by UCFBIP clients >286 Copyrights held by UCFBIP clients >75 Trademarks held by UCFBIP clients >47 Trade secrets held by UCFBIP clients >64
Economic & CommunityBenefits Return on Investment studies: In total, UCFBIP has facilitated the creation of over 1,600 jobs in the region These 1,653 jobs are responsible for more than $70,012,000 in earningsand nearly $200,000,000 in total annual economic output. For 2009, the UCFBIP will generate > $4.5 million in public revenueswithin Orange and Seminole counties, representing a return of $5.25 for every $1.00 invested by local governments Source: REAL ESTATE RESEARCH CONSULTANTS, INC. report, Sept. 2009
An Unknown Path to Success Startup Graduation The direction the company is headed is more important than how it ll get there. It s a messy business 10
Company s Needs Decrease as It Grows A startup s needs are greatest at its inception. Successfully managed companies grow up and require less help from incubator management. 11
Excellence in Entrepreneurship Getting into the program Get to know the client and the business Learn how the client interact with others Better understanding of what help the client need Find out whether the client is coachable Listen to the client and learn more
What does the UCFBIP do? New Client Identify and strengthen the weak spots Add Value Graduate companies poised for success Marketing Sales Distribution Financial Technical IP Cash Management Manufacturing Contacts Incubator staff Community political support Technical expertise Business expertise Networking Regional professional service providers University resources Focus Tactics Strategy Connectivity Marketing Sales Distribution Financial Technical IP Cash Management Manufacturing Contacts
Services UCFBIP Provide Adaptable space, flexible leases Flexible lease On-site business coaching and mentoring Entrepreneurship curriculum, seminars Access to community leaders and an exceptional advisory board Shared resources Reception, conference rooms, business library, high speed internet access, work/break rooms, office equipment Networking, Connection to UCF technology, expertise and the UCF Campus Access to interns and graduate student support
Programs and Partnerships Industry Leaders Disney Entrepreneur Center Incubation Program Local Government -Development Board Entrepreneurship in Central Florida Center for University Entrepreneurship Research & and Innovation (CEI) Commercialization Venture Lab
Central Florida Entrepreneurial Environment 1998 Large corporations, government agencies Central Florida Research Park Students faculty SBDC Local Community Partners Economic Development organizations Local Government Entrepreneurs UCF Community colleges New technology Service providers Management talent New Startups & Spinoffs Workforce Partnerships Corporate Community
Central Florida Entrepreneurial Ecosystem Today Large corporations, government agencies Central Florida Research Park Incubator and Venture Lab Graduates New technology Management talent Students faculty Sponsored research Investment funds (angel, seed, mezzanine) New Startups & Spinoffs SBDC Center for Entrepreneurship & Innovation Disney Entrepreneur Center Center for Economic Competitiveness Education, counseling UCF Technology transfer Florida High Tech Corridor University Economic Development UCF spinouts UCF Venture Lab Communitybased startups Local Community Partners Service providers Economic Development organizations Local Government Entrepreneurs Angel investors Community colleges Workforce Partnerships Corporate Community UCF Technology Incubator
Innovation Support Infrastructure Offered Center for Entrepreneurship & Innovation (CEI) UCF Venture Lab(VL) Technology Transfer office (TTO) UCF Office of Research & Commercialization(ORC) UCF Business Incubation Program (UCFBIP) Central Florida Research Park (CFRP) Small Business Development Center (SBDC) National Collegiate Inventors & Innovators Alliance (NCIIA) Disney Entrepreneur Center (DEC) Florida High Tech Corridor Council (FHTCC) Metro Orlando Economic Development Commission (Metro EDC) Orlando Inc.
Questions? /Contact info: More info: www.incubator.ucf.edu or the Director s: Tom O Neal or Gordon Hogan UCF Business Incubation Program oneal@mail.ucf.edu 407882-1120 bizdev@mail.ucf.edu 407882-1577