supporting entrepreneurs and start-up companies
TRANSCRIPT
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2009 Business Awards• One of 10 Great Places for Entrepreneurs to Retire: Forbes -
June 2009 • Best Places for Businesses and Careers, 2nd; Forbes Magazine
March 2009• Ranked 1st Best Place to Live and Work for Young
Professionals (pop. 100,000-200,000): Next Generation Consulting - March 2009
• Ranked 7th Best Midsize Metro in the nation: bizjournals.com -March 2009
• One of Top 20 Places to Thrive: Best Boomer Towns - February 2009
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Supporting Entrepreneurs and Start-up Companies in Fort Collins & the Region
Sponsored by the City of Fort Collins Economic Advisory Commission
Celebrating Global Entrepreneurship WeekNovember 18, 2009
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Background
• The City of Fort Collins Economic Advisory Commission is the sponsor of the event tonight.
• The EAC is interested in learning more about the efforts underway to support entrepreneurship and start up companies.
• Ultimately, the EAC will be making a recommendation to the City Council regarding the current level of programs and if additional effort may be needed.
• Introduction of EAC members…
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Panel Members
• Mark Forsyth – Executive Director, Rocky Mountain Innovation Initiative
• Mark Wdowik – President and CEO, CSU Management Corporation
• Brad Florin – Florin, LTD• Ed VanDyne – CEO, VanDyne Super Turbo Charger
• Mike Freeman, City of Fort Collins – Moderator
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City’s Economic Strategy
• Four key strategies:– Business retention, expansion, incubation and
attraction– Be proactive on economic issues– Build partnerships– Diversify the economy
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CSU Office of ResearchCSU Office of Research– Sponsored Research Office
– Manages research Collaborations, partnerships, joint ventures
CSU Research Foundation Tech Transfer OfficeCSU Research Foundation Tech Transfer Office– Technology licensing
CSU SuperClustersCSU SuperClusters– Commercialization and venture creation in targeted areas of excellence:
CSU Management CorpCSU Management Corp– Venture finance: CSU Fund I, LLC
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Business Innovation Model
Pre-Incubation Incubation Retention Expansion Attraction
Clean Energy Cluster Larimer Bioscience Cluster N. Colorado Geospatial Cluster
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Retention
City of Fort Collins
Downtown Development Authority
Fort Collins Chamber
Northern Colorado Economic Corporation
Small Business Development Center
Larimer Workforce Center
State of Colorado/OEDIT
Expansion
City of Fort Collins
Downtown Development Authority
Fort Collins Chamber
Northern Colorado Economic Corporation
Small Business Development Center
Larimer Workforce Center
State of Colorado/OEDIT
Attraction
City of Fort Collins
Fort Collins Chamber
Northern Colorado Economic Corporation
Larimer Workforce Center
State of Colorado/OEDIT
Always Important…
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Pre-Incubation
Northern Colorado Entrepreneurship Network
Small Business Development Center
RMII FastTrac
SAGE
CSU Ventures/Superclusters
CSURF Technology Transfer
Poudre Library Business Research
Incubation
Rocky Mountain Innovation Initiative
CSU Engines and Energy Conversion Lab
CSU Research Innovation Center
CSU Ventures/Superclusters
CSU Venture Fund I
Angel Capital Summit
NOCO Angels
SAGE
But More Focus Needed Here…
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Pre-Incubation
• SAGE Program– Advisors Network
• Launching Kaufmann Foundation – FastTracs– Rapid business development services
• CSU Ventures – SuperClusters– Early alignment of research & development
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Business Incubation
• Incubation Services:– Rocky Mountain Innovation Initiative (RMII)
• Innovation based companies– Colorado State University’s Research Innovation
Center (RIC) • Infectious Disease research
– Engines and Energy Conversion Lab• Engines efficiency, alternative energy,
smartgrid
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30,000 sq feet3 StoriesLEED GoldSolar (PV)Elec. Car Charging
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CSU’s Research Innovation Center• The 72,000-square-foot, $53 million facility will be the
latest addition to CSU’s Infectious Disease Research Center. It will be located on the Foothills Campus. The center will provide a hub for university scientists and students to partner with businesses to develop new products to treat and diagnose infectious diseases.
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Energy & Engines Conversion Lab• EECL awarded over $20M in research• EECL employs 12 professional research staff, as well
as 50 graduate and undergraduate students• The EECL awarded over $55M in funding
commitments for spin-off companies employing over 70 professional engineers, managers, and scientists
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Targeted Industries
• Clean Energy– DEN-ZED initiative
• Biotechnology– RMI2 space, Research Innovation Center
• Software– GIS focused
• Uniquely Fort Collins– Be Local, Shop Fort Collins First
• Exploring Water based cluster
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Business Financing
• Traditionally difficult in Northern Colorado• Efforts underway to improve access to funding…
– Regional Venture financing opportunities• NoCoAngels• Northern Colorado Rockies Venture Club• Angel Capital Summit
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Source: QCEW; CSU Regional Economist
Technology Cluster Employment Trend
4,356
6,4731,831
1,615
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
2002 2003 2004 2005 2006 2007 2008
SoftwareHardware
Source: QCEW; CSU Regional Economist
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Source: QCEW; CSU Regional Economist
Clean Energy Cluster Employment Trend
2,133
1,923
0
500
1,000
1,500
2,000
2,500
2002 2003 2004 2005 2006 2007 2008
Source: QCEW; CSU Regional Economist
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Source: QCEW; CSU Regional Economist
Bioscience Cluster Employment Trend
1,014
1,782
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2002 2003 2004 2005 2006 2007 2008
Source: QCEW; CSU Regional Economist
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Panel Questions…• What is working well now?• What are our challenges?
• Questions from the audience – discussion…
• What are the top one or two things that could be implemented to improve our ability to support entrepreneurs and start-up companies?
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Closing
Mike Freeman, Chief Financial Officer970.416.2259 [email protected]
www.fcgov.com/business