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EDA Entrepreneurship Programming to Support Small Business Development in Illinois
Laura Frerichs, Director of EnterpriseWorks at the Research Park at the University of Illinois Urbana Champaign
Marissa Siero, EDA Project Coordinator & CEO of IntelliWheels
Wednesday May 17th, 2017
WLaura Frerichs, Director of the Research Park at the University of Illinois Urbana-Champaign
Marissa Siero, Project Coordinator the Research Park at the University of Illinois Urbana-Champaign
Welcome
• Entrepreneurial Landscape • EnterpriseWorks Technology Incubator• Illinois University Incubator Network • EDA University Center at EnterpriseWorks
Incubation & Entrepreneur Spaces
There are a proliferation of incubation and entrepreneurial space serving startups and small businesses.
NBIA categorizes incubators by the following five incubator types: • Academic institutions • Non-profit development corporations• For-profit property development ventures• Venture capital firms with space for portfolio companies• Combination of these
There are different ways to utilize these spaces based on the clients you serve and resources you have to support programming and real estate.
Incubator Types: Student Incubators
Student Incubators and Entrepreneurial dorms• Space for enrolled students to work on startup ideation, prototype products, and launch new
companies• Mentors, educational programs, weekend hackathons, competitions
Incubator Types: Biotech and Lab Space
Biotech and Lab Space Incubators for faculty and students commercializing research• Wet lab facilities for biotech, chemical sciences, engineering startups• Shared lab space: autoclave, centrifuges, lab ovens, - 80⁰ freezer, microscopes • Fume hoods, bio-safety cabinets, lab benches, glassware
Health, Technology and InnovationChicago Technology Park
Incubator Types: Maker Space
Maker Space for product prototyping, machining new devices, light manufacturing• 3D printing and additive manufacturing• Maker tools: saws, drill presses, lathes, circuit boards, laser cutting, machining, soldering and
welding equipment, sewing, microcomputers
Incubator Types: Tech and Co-Working Space
Digital Media, Software, IT companies, and early stage new virtual offices • Co-working space allows membership at a shared office space without dedicated offices• Shared conference rooms, amenities, mentoring services• Allows reduced early stage costs and learning environment with many peer companies• Estimated that 10,000 coworking spaces opened in 2016
Accelerator Programs
A startup accelerator program has the following 5 characteristics:1. A fixed-term, typically 3-6 months with working space included2. A seed investment in the startup, typically $100K and some equity
taken in the company3. A competitive application process for a cohort-based program4. Includes mentorship and educational components with a plethora of
networking opportunities, with both peer ventures and mentors, who might be successful entrepreneurs, program graduates, venture capitalists, angel investors, and corporate executives.
5. Culminates in a public pitch event or demo day
The number of American accelerators increased an average of 50 percent each year between 2008 and 2014, reaching 170 programs in 2014 and holding steady.
Accelerating growth: Startup accelerator programs in the United StatesBrookings Institution, February 17, 2016
University Location for Startups
Besides attracting high-achieving individuals, universities house students from multidisciplinary backgrounds and provide a means for such individuals to easily interact with each other due to proximity.
Universities are stepping up efforts to create “spinouts,” or business startups born from some of the cutting-edge research of their students or faculty.
EnterpriseWorks is a 43,000 sq ft startup business incubator in the Research Park for early stage tech firms. It is operated by the University of Illinois. Up to date it has successfully incubated more than 250 startups.
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Founders: Over half of our current client companies were founded by UIUC faculty members. 93% of our clients have founders affiliated with the university.
65%
2%
17%
9%7%
FacultyUI StaffUI StudentUI AlumniExternal
EnterpriseWorks Incubator
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6 67
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Energy Hardware AgTech Chemistry/Materials
Bio/Med Tech Software
EnterpriseWorks Client Technology Areas
Frequently Asked Questions about EnterpriseWorks
• 93% of incubator clients are affiliated with the university • The incubator graduates approximately 1/3 of its tenants annually • 11 graduates from the incubator are currently located in the
Research Park• Companies stay at EnterpriseWorks for 3-5 years (average)
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Incubator Graduate Locations
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2016 Startup Teams from UIUC
Significant cross-campus participation among startups in programs: 121 unique teams in at least one program entrepreneurship program
Entrepreneurship Program at UIUC 2016 Startup Participants
EnterpriseWorks 2016 Startup Tenants 58 active leases in 2016, 18 new in 2016
New UIUC OTM FY16 Startup Licenses 8 startups licenses
IPOC Proof-of-Concept Awards & Faculty Entrepreneur Fellows:
12 teams supported with funding
NSF I-Corps 2016 Teams at UIUC 34 teams participated in 2016
Cozad New Venture Competition 2016 120 student startups competed, 19 finalists, 13 awardees with prizes
IVenture Accelerator 2016 12 startups located at Research Park as summer cohort
I-Start Awards 16 active startups teams supported in 2016
AWARE Awarded Teams 2016 8 teams awarded
Illinois Ventures Portfolio Companies 13 active investments in UIUC startups
Venture Capital Raised by EnterpriseWorks
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Brookings Institute in 2015, March 6, 2015New names crack the top 20: Boulder; Ann Arbor, Mich.; Champaign-Urbana, Ill
EnterpriseWorks clients VC rounds in 2016:Agrible $4,100,000.00 Aptimmune Biologics $2,420,000.00 Cast21 $100,000.00 Inprentus $485,000.00 Prenosis $1,565,030.00 Reconstruct Inc. $850,000.00 Veriflow Systems $8,181,002.00
SBIR/STTR Awards at EnterpriseWorks
• Free SBIR/STTR Grant Consulting for Faculty/Students, private consultants through EnterpriseWorks provide technical assistance and training workshops
• Total Number Awards in State of Illinois in 2016: 98• Total from Research Park in 2016: 15• Champaign-Urbana awards: 27 (all local awards are
EnterpriseWorks graduates) 28% of total awards in Illinois
Soil DiagnosticsRithmioInnSight TechnologyPhotoniCareRational CyPhyAutonomic MaterialsAg-SensusCU Aerospace
OceanComm AE MachinesPetronics GlucosentientIllinoisRocstar Editekk Eden Park Illumination Starfire Industries
Entrepreneurs-in-Residence (EIR)
James Janega Chicago Ideas Week, Slalom, previously Chicago Tribune
Blue Sky Innovation
Tim HoerrSerra Ventures, Gameday
Sports, CPA, Valuation expert
Dennis BeardSerra Ventures & Open Prairie
Ventures, UI Business Adj. Faculty - Finance
Jed TaylorTEC, JLT Consulting and
Pattern Insight, Siebel Scholar
EIRs are local and regional experienced tech entrepreneurs who have commercialized technology, hired by the Research Park to consult startups
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Alan SingletonSingleton Law Firm, tech startups and IP
Lori PattersonPixo and CEO, former Accenture consultant
Craig VodnikCleverbridge Founder and VP Operations, Hyde Park Angels
Harlee SorkinMentor Management &
Common Place, Traco Labs Founder
Karin O’ConnorPerimeter Advisors, Hyde Park Angels
Rob SchultzSerra Ventures, ShareThis, Clearstream, Adrenaline,
Caterva, Spinlight, 640 Labs
Edwin MooreConsultant at BioPhia
Consulting, former Baxter scientist
Designer-in-Residence
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Dr. Deana McDonagh, Professor of the Industrial Design Program in the School of Art + Design as a Designer-in-Residence.
She, along with her students, assist University of Illinois inventors and entrepreneurs to incorporate product design in their technology development to help improve user experiences and performance of products to meet customer needs.
Intro to Customer Discovery: NSF I-CORPS
Stand in front of Class and
describe Business Model
Receive critical feedback from teaching team and
peers
Education from
teaching team
Validate hypothesis
with industry
Update business model
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University of Illinois is one of 63 US sites in NSF I-Corps
121 teams, launched in 2013, teams raised $26 Million
• UIUC is one of the leaders of the newly announced NSF Midwest I-Corps Node, along with University of Michigan and Purdue University.
• UIUC has the most teams from Illinois, $1 Million awarded to teams, and UIC is #3 with $309K. UofC is #2 with $547, Northwestern is #4 with $300K.
• AgCorps was hosted at the Research Park in June Team = Faculty + grad student + mentor
AWARE (Accelerating Women And underRepresented Entrepreneurs) offers resources and an enhanced infrastructure that make the current entrepreneurial ecosystem more accessible to all.
• Dedicated entrepreneur-in-residence familiar with the needs of underrepresented groups
• Small proof-of-concept grants for teams• Targeted mentorship, training and networking
opportunities
Karin O’Connor, EnterpriseWorks EIR
AWARE is a partnership between the College of Engineering, EnterpriseWorks and OTM, and is funded by the National Science Foundation.
Pilot program through NSF, first university location.
NSF AWARE Program for Women & Diversity
I-Start Program: Seed Accelerator Funds
• I-Start program helps support and launch new companies from the University of Illinois with professional services to move research toward commercialization.
• No equity is taken in the companies. • It is a matching award program that provides 80% of startup professional
service costs in the first year of a business. – Legal Services– Business Planning– SBIR Assistance– Financial and Payroll Services– Optional additional services: prototyping, branding,
immigration assistance, regulatory planning, crowdfunding • Startups are accepted on a competitive basis. • 61 companies have been accepted
– 44 SBIR/STTR awards to those companies– $78.7 Million in venture capital funding – 215:1 leveraged funding from EnterpriseWorks investment– 77% of companies moved into the incubator, 9 have graduated
Student Shared Services Program
• EnterpriseWorks student service team program to help entrepreneurs in the Research Park with project needs.
• Projects examples include: Market research, presentation development, business plan assistance, beginning a website presence, logo development, public relations assistance, user interface design, and lab setup service.
• All free for incubator clients.• There were 45 Shared Services projects in FY14
completed by 15 student interns: 18 websites, 13 logos, 11 marketing projects, 2 business reviews.
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EnterpriseWorks Incubator Space
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Offices LabsFurnished office from 130-600 SF Labs available with casework, fume
hood, plumbing, gas, shelving.
Commons Area Coworking Space
Shared Lab Equipment
• Deionized water system• pH/mV/°C meters• Autoclave(s)• Glassware Washer• Analytical Scale• -80° C Laboratory Freezer• Isotemp Lab Refrigerators• Water baths• Ice Maker• Dry Ice mill• Dry Ice box • Savant SpeedVac concentrator• Rotary evaporator• Flow hood(s)• Reflow Oven• Thermo Box Furnace• Soldering Iron• Drill Press • MakerBot 3D Printer, Replicator 2X
Shimadzu VP series High Performance Liquid Chromatograph
Shimadzu Gas Chromatograph Waters micromass Quattro Micro LC-MS
with Alliance 2695 separation unit Waters micromass Q-TOF mass
spectrometer Bio Tek absorbance plate reader Cary 3E UV-Vis spectrophotometer with
temperature controller Gel documentation and imaging system Sorvall RC-5B Plus centrifuge Eppendorf benchtop refrigerated
centrifuge Eppendorf microcentrifuges New Brunswick G-25 incubator shaker PCR-Thermal cyclers (gradient) Track Pole Stand stereo Microscope
System
Access Campus Labs, Equipment, StoresCompanies can gain access to University of Illinois laboratory equipment and facilities by entering into Facilities Use Agreement and/or Technical Testing Agreements with the University
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Incubator clients are eligible to have indirect cost recovery rates waived, making facilities more affordable
Procurement available through the University for lab supplies at reduced
rates.
IVenture Accelerator Program
• Launched in Summer 2015, Illinois iVenture Accelerator allows top student startup teams to spend the summer on campus with the time and support they need build prototypes, create a value proposition, test demand, research the competitive landscape, validate market size, progress in developing their startup ventures.
• $2,500 stipend per Fellow and up to $10,000 in seed funding per startup• Mentors, workshops, and competition for additional funding• Co-working space at Research Park designed to maximize productive
collisions between Fellows and the broader community• 36 students and 13 startup companies
– 24 majors and minors represented
• Engaging with Chicago startup ecosystem: visits to 1871, Chicago Innovation Exchange, Matter, Chicago TechWeek
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Program 150 Events Annually
Social Interest Groups RecruitingFire at Five Prototyping Fair Career FairPi Day, May the Fourth Corporate Directors CS EventsTable Tennis Tournament Women in Tech RP Open HouseOutside at Research Park CEO Roundtables Quad Day
EducationData Science User GroupStartUp CaféSBIR Workshops
ConferencesBig Data SummitShare the VisionAgTech SummitPygmalion Hackathon
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EDA: Enabling Support Across Illinois
The University of Illinois, through Enterprise Works at the Research Park, is assisting incubators and the entrepreneurial ecosystems associated with higher education in 10 counties in Illinois, representing distressed regions in need of economic development assistance.
• Additional Higher Education Incubators in these counties my be added to the network.
Institutions and other incubators south of I-80 may join the EDA University Center Small Business Assistance Program. http://go.illinois.edu/SmallBusinessHelp
University Incubators in Illinois
Many universities and colleges in Illinois have entrepreneurial programs, courses, and support resources. However, the following universities have dedicated startup incubators:• Northwestern: The Garage• IIT: University Technology Park Incubator• Northern Illinois University: Eiger Lab• Bradley: Peoria Next• University of Chicago: Polsky Center• University of Illinois at Chicago: HTI• SIU Carbondale: Research Park• University of Illinois at Springfield: iSPI• University of Illinois at Urbana-Champaign: EnterpriseWorksAdditionally, there are universities seeking to start new incubator and innovation spaces throughout Illinois.
Supported by the:
Economic Adjustment Assistance Grant
Economic Development Administration
The University of Illinois, through EnterpriseWorks at the Research Park, is assisting incubators and the entrepreneurial ecosystems associated with higher education in Illinois.
IUIN; Illinois University incubator networkThrough the IUIN, Enterprise Works will be fulfilling the following efforts:
1. Incubator assistance, sharing of resources, collection of best practices2. Ambassador visits3. Direct small business assistance services 4. Creation of a web portal to showcase the incubators5. White-label training templates for incubators in the network6. Referral of clients to the I-Corps program for training7. Development of incubator profiles, summaries about the higher education
incubator programs completed by UIUC Urban Planning which can be used as a reference guide
8. Incubator network conference to share best practices 9. Creation of the Illinois Alumni Mentor Network for university incubator
companies10. Startup showcase of higher education incubator startups from the participants,
invite investors and alumni participants
Sharing of Best Practices
Incubator assistance, sharing of resources, collection of best practices, exchange of information, ambassador visits:
• Conduct ambassador visits to each location
• Provides insight on best practices in working with entrepreneurs, as well as incubator management
• Review topics such as; operations, events, programming, marketing, and financials, as well as CRM tools, benchmarking, grant application development
Technical Assistance
Technical Assistance for university incubators and higher education incubator startups
• Business and technical assistance provided by University of Illinois students to support and encourage business growth
• Market research• Logo design• Website development
• SBIR resource provided to support incubator clients• Onsite free workshops at other universities• Free SBIR consultation with professional
experts
• Referral of clients to the NSF I-Corps program for training and micro-grants from Sites program.
Illinois Higher Education Incubator Website
Creation of a IUIN Website to showcase the incubators to provide additional communication tools;
• Profiles of the University incubators in Illinois • Repository for sample documents to share best
practices• Training Templates providing operational guidance for
incubators • News feed to support marketing and advocacy efforts• Contact information to enhance communication
between incubators, allow for referrals, identify and share regional knowledge or skillsets.
• Links to tenant directories, potential search of all university incubator tenants in Illinois
Illinois Higher Education Incubator Summit
Annual Illinois University Incubator Network Conference:
• Share best practices, presentations from higher education programs in entrepreneurship and incubation from across Illinois
• Network with peers and partners • Panels, keynote speakers, and hands on
workshops to promote ongoing dialogue and problem solving.
• Set priorities for shared resources and assistance for the network.
Chicago, Illini CenterJune 21, 2017
University Startup Showcase & Network
Annual Startup Showcase of higher education incubator startup clients
• Investors
• Alumni
• Government and Industry Participants
• Highlight startups from across incubators, successful funding rounds, SBIR awards, corporate partnerships
Creation of the Illinois Alumni Mentor Network for university incubator companies
EDA University Center Overview
The University of Illinois, through Enterprise Works at the University of Illinois Research Park, is assisting downstate IL small business (south of I-80) with technical assistance services to encourage business growth.
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
What is the EDA University Center?
• The EDA University Center Grant supports small businesses located south of I-80.
• Communities seeking assistance in planning and developing entrepreneurship programs.
• Provides business and technical assistance provided by University of Illinois students.
• Entrepreneur in Residence resource to support incubator clients.
• Supports SBDC, PTAC, ITC, or higher education incubator clients
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
EDA University Center Supported Services
• Business and technical assistance provided by University of Illinois students to support and encourage business growth.
• Project proposals will be run through a competitive selection process. Business and technical assistance will be provided based on fit and availability.
• All proposals must be submitted with or by a referral partner. Priority will be given to companies focusing on physical products or technical solutions.
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
Step 1: Entrepreneurs / small business owners located south of I-80 meet with their local entrepreneurship partners such as the; SBDC, EDC, SBA, PTAC, ITCs, Higher Ed. Incubators, University of Illinois Extension Offices.
Step 2: Entrepreneurs / small business owners and their referral partner complete the University of Illinois EDA University Center Small Business Assistance Application online and submit to EnterpriseWorks.
Step 3: Enterprise Works will receive and review all applications. The project scope will be reviewed and University of Illinois student(s) will be matched with applicants based on availability and fit.
Step 4: University of Illinois student(s) will work with the entrepreneurs and small business owners to complete the requested business assistance to support business growth. All projects will have a hand-off at final completion.
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
How to Access the University of Illinois EDA University Center Small Business Assistance Program ?
All requests for services will come from referrals from partners including incubators, SBDC programs, PTAC offices, ITCs, or higher education entrepreneurial programs.
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
University of Illinois EDA University Center Project Examples:
• Market research based on journals, publications, patents, and competitive business intelligence.
• International market research
• Business plan review and editing (will not write business plans)
• Logo development
• Pitch presentation development and review based on business plan
• Graphics or formatting assistance for business presentation
• Website development; "brochure-like" format, can not be the product for the company, no on-going maintenance will be provided, all domain registration and hosting fees are at the company's expense.
• Packaging design assistance
• Trade show booth or point-of-sale product display design assistance
• Graphics assistance for marketing materials (content must already be created)
• Basic social media and online marketing strategy (i.e. use of Google AdWords, Facebook ads)
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
University of Illinois EDA University Center Request Form
University of Illinois EDA University Center Request Form can be found at: http://go.illinois.edu/SmallBusinessHelp
Application Guidelines:• Please submit one request at a time.• Projects are short term with specific deliverables and a clear scope.• Projects must have a referral source; SBA, SBDC, PTAC, U of I Extension
Office, Higher Ed. Incubator.• Projects for physical product companies or technology companies will be
given priority.
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
University of Illinois EDA University Center Expectations
• The University of Illinois EDA University Center program provides quality services at no cost to the entrepreneur, startup, or small business.
• The services will be completed by University of Illinois undergraduate or graduate students.
• All projects are expected to be completed within a 30 day window.
• The quality of the services provided are expected to meet the expectations of the Enterprise Works staff and the entrepreneur.
• The completed work will be at or above the level of an entry level employee in the expected field.
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign
Additional Information
• The link to the Shared Services Application can be found: http://go.illinois.edu/SmallBusinessHelp
• University of Illinois Urbana – Champaign Enterprise Works at Research Park
EDA University Center can be sent to: Marissa Siero
EDA University CenterEnterpriseWorks at Research Park
University of Illinois at Urbana-Champaign