introduction to the ucfbip - dr. thomas o'neal7 sessions of 3 hours ending with client...

UCFBIP’s Incubation ProcessUCFBIP’s Incubation Process

Introduction to the UCFBIP

March 2, 2011

UCFBIP’s Incubation ProcessUCFBIP’s Incubation Process

UCFBIP

UCFBIP’s Mission Statement:

…. A University driven community partnership dedicated to providing early stage companies with the enabling tools, education, training, and infrastructure necessary to create financially stable,

high growth enterprises

UCFBIP’s Incubation Process

Being a part of UCFof

– UCF 2nd‐largest in the nation 56,000+ students

– $140 M+ in Research Expenditures

– UCF and the Central Florida Research Park

influence 45,000+ jobs

•Combined economic impact $3.5B+


UCF Ranked 3rd in 2010 Patent Power


Big Picture Goals• It’s all about Economic Development• Expand high impact industries• Engage universities in the community• Facilitate tech transfer, collaboration, and economic development

• Provide practitioner based business training, coaching, and mentoring support to:– growth potential start‐ups– university spin‐offs– existing companies, restarting– existing company with new project/product– SBIR / STTR start‐ups


Funding for Labs

Technology and Graduates

Company

Incubation

Product

Research Park

Jobs

Taxes

World Class Researchers/Faculty

Incubators position in the economic pyramid


Economic & Community Benefits

• Approximately 20 to 25 start‐up companies enroll in the UCFBIP/year < 5 client companies drop out of the UCFBIP/year (either voluntarily or they fail to continue meeting the requirements of the program).

• On average, clients remain in the incubator between 1‐3 years

before they are considered “ready” to graduate.

Source: REAL ESTATE RESEARCH CONSULTANTS, INC. report, Sept. 2009


Economic & Community BenefitsReturn on Investment studies:

• In total, UCFBIP has facilitated the creation of over 1,600 jobsin the region (based upon the multiplier assumptions embodied within RIMS II). – These 1,653 jobs are responsible for more than $70,012,000

in earnings and nearly $200,000,000 in total annual economic output.

• For 2009, the UCFBIP will generate > $4.5 million in public revenues within Orange and Seminole counties, representing a return of $5.25 for every $1.00 invested by local governments



UCFBIP FY2010 Stats

FY2010: July 1, 2009 – June 30, 2010

– Admitted 45 new clients to the UCFBIP

– 2 clients licensed UCF technology

– Graduated 8 clients


Economic & Community Benefits

• In a normal economic climate, 8‐10 companies graduate/year

from the UCFBIP

• According to surveys of graduate companies, at least 55 grants

totaling more than $33 million in SBIR/STTR funding have been

awarded to client and graduate companies of the UCF

incubators. Additionally > $50 million from other federal and

state grants that support on‐going technology development.


UCFBIP’s Incubation Process11

Tom O’Neal –

Executive Director

Rafael Caamano

Site Manager, Kissimmee

Gordon Hogan –Director,Site Manager – Photonics & Sanford

Incubator

UCFBIP Management Team

Melissa Wasserman

Site Manager, Orlando

James Spencer

Site Manager, Leesburg

Carol Ann Dykes

Site Manager, Research Park

Esther Vargas‐Davis

Site Manager, Winter Springs

Henriette Schoen

Prog. Dev. Manager ORC

Jim Bowie

Site Manager, St Cloud


Facts about IncubationSmart 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


… do foolish things and act impulsively.

They often don’t know any better.

Startup companies are prone to …


Startup Graduation

•The direction the company is headed is more important

than how it’ll get there.

•It’s a messy business

An Unknown Path to Success


•A startup’s needs are greatest at its inception.

•Successfully managed companies grow up and require

less help from incubator management.

Company’s Needs Decrease as It Grows


Highlights about UCFBIP• Opened in December, 1999, as the UCF Technology Incubator.

• The Incubator Program received in 2004 the National Business Incubation Association Yearly award as best incubator in the USA/world

Recent

• Opened St. Cloud site April 28, 2010

• Expansion of the Sanford site with 1,950 Sq. Feet ‐ Opening June 10, 2010

• Facilities in total cover +133,650 sq. feet

• Opening incubator in Volusia County ‐ the Daytona Airport Incubator inSummer 2011


Companies currently serving as of today 93Companies graduated 54, 49 still in RegionCompanies assisted in total >160Jobs created > 1600Average salary $60,000Investment raised $190 MGenerated revenue > $500MPatents held by UCFBIP clients >286Copyrights held by UCFBIP clients >75Trademarks held by UCFBIP clients >47Trade secrets held by UCFBIP clients >64

Current results from the UCFBIP Clients


• Marketing• Sales• Distribution• Financial• Technical• IP• Cash• Management• Manufacturing• Contacts

Focus

Tactics

Strategy

Connectivity

New Client

Identify and strengthen the weak spots

Add Value

Graduate companies poised for success

Incubator staff

Community political support

Technical expertise

Business expertise

Networking

Regional professional service providers

University resources

• Marketing• Sales• Distribution• Financial• Technical• IP• Cash• Management• Manufacturing• Contacts

What does the UCFBIP do?


• Flexible lease• On‐site business coaching and mentoring• Shared resources

– Reception, conference rooms, business library, high speed internet access, work/break rooms, office equipment

• Become a part of the UCFBIP Network• Close proximity to UCF professors and the UCF Campus/Expertise

• Access to interns and graduate student support• Access to community leaders and an exceptional advisory board

Services UCFBIP Provide


Incubation Programs webpage ‐ www.incubator.ucf.edu

Clients get visibility here on frontpage

Application for clients and partners for the UCFBIP here

Events listed: • UCFBIP,• Community • UCF


The Incubator’s Overriding Goal

The incubator should principally be guiding and assisting

your client companies, not running their business or doing

things they can do for themselves.

The incubator’s central goal should be helping startup

companies to become more self‐sufficient and financially

viable.


The primary responsibility is to help the

client companies become successful

Daily manage the actual facility

Help the clients with their upcoming questions

Assist them with business connections/network

Introduce them to all the advantages of

being part of the UCFBIP

The Site Managers Role


Site Manager –Carol Ann Dykes

$23/sq. feet

Central Florida Research ParkRene AyalaAdministrative

Assistant

Roy McCaw

Facilities Manager

Jessey Schmidt

Client Administrator


UCF Business Incubator – Daytona Airport

Premier Funding source

Site Manager – TBD

Daytona Airport – Opening Summer 2011


UCF Business Incubator –Kissimmee

Program Assistant –

Pamela Turlington

Kissimmee

Site Manager –Rafael Caamano


UCF Business Incubator – Leesburg

Site Manager – James Spencer

Leesburg

Program Assistant‐Theresa Davis


Formerly the Orlando Business Development Center/District 2 –Now named the UCF Business Incubator ‐ Orlando

Orlando

Site Manager –Melissa Wasserman

Maria Rodriguez‐Facilities Scheduler


UCF Business Incubator ‐ Photonics

Site Manager – Gordon Hogan

Photonics UCF Campus


UCF Business Incubator ‐ Sanford

Sanford

Site Manager –Gordon Hogan

Program Assistant –Peggy Allen


Brothers Manufacturing Group

UCF Business Incubator ‐ Sanford9 Current Clients

http://www.youtube.com/watch?v=J1VbH4Y3LNE&feature=player_embedded

http://www.youtube.com/watch?v=-h4CaBd7Afc&feature=related


UCF Business Incubator – St. Cloud

Site Manager

Jim Bowie

St. Cloud

Program Assistant

Jessica Filter


UCF Business Incubator ‐Winter Springs

Site Manager –

Esther Vargas‐Davis

Winter Springs

Interim Program Assistant –Marcia Montes


UCFBIP Total Sq. Feet CoveredSite Name Sq. FeetResearch Park 56,000Leesburg 4,000Orlando 6,000Photonics 21,000Sanford 5,850St. Cloud 14,000Winter Springs 10,800Kissimmee 8,000Daytona Airport 8,000

Total 133,650


How to join the UCFBIP• Participation and satisfactory passing of

UCFBIP’s Certificate in Entrepreneurship called“Excellence in Entrepreneurship” 7 sessions of 3 hours ending with client presentations.

• Formal application– Application– Interview– Require a business plan– Usually require full time commitment

• When accepted to the program – to be considered an active client in our program, it is required that the client attend

6 educational sessions/workshops pr. year


Incubation Programs webpage ‐ www.incubator.ucf.edu


The official UCFBIP Requirements


UCFBIP facilities in following counties

UCF’s service area: + =11 counties

UCFBIP’s current service area: 5 counties =


LocalGovernment‐ Development

Board

Center for Entrepreneurship

and Innovation (CEI)

IndustryLeaders

DisneyEntrepreneur

Center

Entrepreneurship in Central FloridaEntrepreneurship in Central Florida

UniversityResearch &

Commercialization

IncubationProgram

VentureLab

DisneyEntrepreneur

Center

Programs and Partnerships


Innovation Support Infrastructure OfferedCenter for Entrepreneurship & Innovation (CEI)

UCF Venture Lab (VL)

Technology Transfer office (TTO)

GrowFL

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.


Central Florida Entrepreneurial Environment

1998

Corporate Community

Education

Local Community Partners

New technology

Management talentNew Startups & Spinoffs

Partnerships

StudentsFaculty

Large corporations, government agencies

Local Government

Economic Development organizations

Community colleges

Service providers

Entrepreneurs

Workforce

Central Florida Research Park

SBDC


Central Florida Entrepreneurial EcosystemToday

Corporate Community

Education•UCF, Rollins College•Valencia, Full Sail and others

Central Florida Research Park

Local Community Partners

New technology

Management talentNew Startups & Spinoffs

Partnerships

StudentsFaculty

Large corporations, government agencies Center for

Entrepreneurship & Innovation

Sponsored research

UCF Venture Lab

University Economic Development

Investment funds (angel, seed, mezzanine)

Local Government

Economic Development organizations

Community colleges

Florida High Tech Corridor

Community‐based startups

UCF spinouts

Disney Entrepreneur Center

SBDC

Technology transferService providers

Angel investors

Education, counseling

Entrepreneurs

Workforce

Incubator and Venture Lab Graduates

Center for Economic Competitiveness

GrowFL

What Clientsbecome a part of by joining the UCFBIP


Take Aways

• It’s a community effort

– With a lot of Funding Partners

• Work together to figure out the big picture

• Manage expectations

• Find the “right type” to be site manager

• Need to continually educate and inform the

community


UCFBIP Funding Partnerships


Take Aways about the UCFBIP model

• Incubation is an Economic Development Investment tool

• Requires long term funding commitment ‐min. 3‐5 years

• Companies normally require 3‐5 years to create jobs

• The UCFBIP/the individual incubator will never be self‐sustaining


More info

• About UCFBIP – UCF TV “Zenith” features a client company “Mydea Technologies” and the new UCFBIP COO, Gordon Hogan and the Incubation Program

– http://www.youtube.com/watch?v=sLVMvVUSG2E&NR=1

Mydea Technologies is a specialist in

rapid prototyping services and design

introduction to the ucfbip - dr. thomas o'neal7 sessions of 3 hours ending with client...

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