business incubator blueprint: how to open a business incubator and maximize revenue

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Page 1: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 2: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 3: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 4: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 5: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 6: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Who are you serving?

What is your purpose?

What impact do you want to create?

What stakeholder commitments need to be considered?

ESTABLISHING YOUR MISSION

Page 7: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

What do you want your program to be known for?

What are your differentiators?*Equity vs. no equity*Services*Industries

Where do you want to be after 1 year? 5 years? 10 years?

VALUES & GOALS

Page 8: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 9: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Size reflects transitional space but offers expansion capabilities

Flexible and collaborative areas

Sensitive to security and IP concerns

Technological infrastructure to minimize cost for a startup

FROM 30,000 FEET

Page 10: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Technology / software: Office space, server room, modern and collaborative environment

Biotech / medical device:Wet labs, specialty equipment

Clean / renewable energy:Hybrid office and/or lab space; additional light manufacturing

NEEDS BY INDUSTRY

Page 11: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Leveraged existing feasibility studies and needs assessments

Labs equipped with commercial-grade hoods and furniture

Additional specialty bio equipment that can be shared and reused

LABS & EQUIPMENT

Page 12: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

FLOOR PLAN

Page 13: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 14: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Evaluate criteria based on goals and mission:

* Job creation, growth potential * Coachable entrepreneurs * Intellectual property * Alignment with resources * Number of founders * Experience of entrepreneur(s)

Incorporate multiple checkpoints

APPLICATION & SELECTION

Page 15: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Gap analysis | resource alignment

IP analysis | business model validation

Coachable | consistent with mission

All of the above

EIR / Business Counselor

Mentors and Partners

Executive Director

Selection Committee

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Evolves as your program, entrepreneurs and expertise changes

Assist entrepreneurs through process, but allow independent approval

APPLICATION & SELECTION

Page 17: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

RESIDENT CLIENTS

Company-specific roadmap for growth

Monthly, quarterly business counseling

Daily hallway conversations

Access to 40-50 specialized mentors

Discounted 3D printing and design

24/7 access to office and/or wet lab space (at below-market rent)

Partner services (HubSpot, AWS)

Access to investment and partner network

Page 18: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

AFFILIATE CLIENTS

Company-specific roadmap for growth

Monthly, quarterly business counseling

Access to collaborative, cowork space

Access to 40-50 specialized mentors

Discounted 3D printing and design

Partner services (HubSpot, AWS)

Access to investment and partner network

Page 19: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

EDUCATIONAL OPPORTUNITIES

Programming for CLIENTS (economic impact) and the COMMUNITY (public visibility and lead generation)

Leverage skills and expertise of leaders across the globe

Seminars, workshops, retreats, meet-ups, and others

Page 20: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Partnerships with like-minded organizations to host workshops

* State/government * Corporate partners * Entrepreneurial supporters * Meet-up groups

Consider discounted or free access for clients to “external” events

EDUCATIONAL OPPORTUNITIES

Page 21: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

EDUCATIONAL OPPORTUNITIES

Student business incubation program (virtual or physical space)

High school entrepreneurship

* Tie with STEM initiatives * 3D printing and coding * Entrepreneurship primer

Page 22: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

BUSINESS COUNSELING

Core of traditional incubation program

Onsite professionals are vital for daily and weekly needs

Beware of “mixed messages”

Consider different stages of development

Page 23: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Monthly Quarterly

Tactical

Immediate challenges

Status check

Meeting program requirements

Strategic

Goal setting

Overall business traction

Major pivots

BUSINESS COUNSELING

Page 24: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

MENTORSHIP

Support business counselors

2-3 in each major expertise and/or industry:

* Marketing * Manufacturing * Finance * Regulatory | government

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MENTORSHIP

Mutually-beneficial arrangement:

MENTORS build new client relations and increase community exposure

ENTREPRENEURS receive pro bono consulting and discounted services

INCUBATORS gain network of specialized expertise and support

Page 26: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

METRICS TO MEASURE

Clients Incubator

Job creation *FTE *Part-time *Contract *Interns

Revenue

Investment (equity, grants)

Partnerships / Sponsorships

Occupancy rate

PR visibility and social growth

Educational opportunities offered

Page 27: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

COMMUNITY PARTNERSHIPS

HUGE differentiator

Helps create “patchwork” quilt of the entrepreneurial method

Local, national and international opportunities

Helps advance startup ecosystem and incubator positioning

Page 28: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

COMMUNITY PARTNERSHIPS

Economic development: City of Phoenix, Arizona Commerce Authority

Incubators, accelerators, cowork spaces: Seed Spot, CO+HOOTS, AzBIA

Industry-specific: AZBio, Flinn Foundation, Clean Tech Open

Corporate: SRP, Dignity Health

Page 29: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

STRATEGIC PARTNERS AND SERVICES

Discounted services * HubSpot Jumpstart program * Amazon Web Services

Strategic guidance, expertise * MediCoventures * Dan Tyre, HubSpot * Legal firms, Ron Kisicki

Community college resources * Business, entrepreneurship faculty * Operations support (Facilities, IT) * Student internships

Page 30: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

Access to capital investment * VA Angels * Arizona Tech Investors * Desert Angels

Pre-incubate, post-graduate * Selection committee: mentors | incubation leaders | industry experts * Graduation partners: Discovery Triangle

STRATEGIC PARTNERS AND SERVICES

Page 31: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

STRATEGIC PARTNERSHIPS

Small Business Development Center (SBDC)

* Early support and staffing * Dedicated business counselor * Network of business analysts * Additional programming and workshops * Student incubator operations

Learn more:www.slideshare.net/ceigateway/pioneering-partnerships-with-your-local-sbdc

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Page 33: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

STAFFING NEEDS

Strategic vision | partnership development

Client business strategy and development

Day-to-day accountability

Executive Director

Entrepreneur-in-Residence

Business Counselor(s)

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Operations management | reporting

Public visibility | client lead generation

Reception | administrative support

Coordinator

Marketing Specialist

Office Assistant

Support marketing and operationsInterns

Page 35: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

THE BUDGET

Invest in people first and build a great team

Balance your expenses with client receivables and other revenues

Reinvest gains into the program * New positions * New services

Page 36: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

REVENUESEXPENSES

Facilities

Operations

Marketing

Expansion

Program Fees

New revenue streams

Sponsorships

Grants

Page 37: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 38: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

MARKETING SERVICES

Overall brand development

Inbound marketing: content-driven, lead generation

Website: optimize for user, platform for fresh content, mobile-friendly, opportunity to showcase sponsors

Public relations

Page 39: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

MARKETING SERVICES

Client-related services:

Revenue Non-revenue

Video production

Graphic design

Photography

Mentorship

Brand development

Social strategy

Event sponsorships

Page 40: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 41: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

NEW REVENUE STREAMS

3D printing center

Competitive Intelligence Lab

CLIA Lab

Equipment rentals

Page 42: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

STARTUPLABS 3D PRINTING CENTER

Page 43: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

COMPETITIVE INTELLIGENCE LAB

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CLINICAL LABORATORY IMPROVEMENT AMENDMENTS (CLIA) LAB

Page 45: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

SPONSORSHIPS/GRANTS

Value-based (Friends of CEI) vs. Real-estate (conference rooms)

Corporate incubation opportunities

Numerous grants available for ongoing operational expenses and expansion efforts

Page 46: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

ADVISORY BOARD

Vet the strategic direction of incubation program

Source for eventual succession planning

Page 47: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue
Page 48: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

OUR BEST PRACTICES

Your mission is your FOUNDATION that should guide every aspect of your incubator

DESIGN A FACILITY that is flexible and tailored to serve diverse entrepreneurs

Your program is your DIFFERENTIATOR – layer it with multiple services and partners

Page 49: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

OUR BEST PRACTICES

STAY RELEVANT for your entrepreneurs and in the marketplace, but don’t pivot just to make a change

Validate your STRATEGIC DIRECTION regularly with key stakeholders

BE CREATIVE with your staffing, your marketing and new revenue-generating opportunities

Page 50: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

MORE RESOURCES

NATIONAL BUSINESS INCUBATION ASSOCIATION: Best practices for incubator programs and managers | nbia.org

OTHER INCUBATION PROGRAMS: * Reputable * University & Higher Ed models * Community-based

GRANT OPPORTUNITIES: Economic Development Administration | SBA Accelerator Fund | Coleman Foundation

Page 51: Business Incubator Blueprint: How to Open a Business Incubator and Maximize Revenue

LEARN MORE

[email protected]

@mcorcollege | @ceigateway

maricopacorporatecollege.com | ceigateway.com

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