Rocket Hatch 2014 Annual Report

Building a dynamic North Alabama economy fueled by a vibrant and diverse startup community

ANNUAL REPORT � 2014

� © Rocket Hatch, 2015

2 Rocket Hatch Community Accelerator

www.rockethatch.org


www.rockethatch.org

GETTING STARTED

� Rocket Hatch started at the beginning of 2014 as an idea of a group of

entrepreneurial individuals with

backgrounds in creative, social and tech

startups. We saw the need for a support

community for entrepreneurs that

wanted to focus their efforts in the commercial space, leveraging modern

technologies and business frameworks

to launch new companies that could

create value locally while selling globally.

� Many of us had seen first hand the

startup movement taking hold around the world and transforming it rapidly. We

understood that starting a business in

2014 was way different than just a decade

ago. First the internet, then the cloud and

now mobile technologies had changed

everything, and we knew we wanted to join in, but we did not want to leave our

home, Huntsville.

� We knew Huntsville had all the critical elements to be a thriving startup

ecosystem. However, disruptive

commercial startups were not common

and if they existed were disconnected to

the local scene.

� In April of 2014 we decided to change that by supporting the first Weekend

Startup competition in town. In May, we

incorporated Rocket Hatch as a 501(c)(3)

non-profit with the mission to unleash the

untapped entrepreneurial potential of

North Alabama through an open, inclusive and collaborative startup

community. Only 8 months later we could

not be more proud of what our emerging

startup community has accomplished

and the role we have played as a

catalyst. This success pushes us to continue with this mission.

Will you join us in this effort?

Mission Rocket Hatch Community Accelerator

www.rockethatch.org

� To unleash the untapped entrepreneurial potential of

North Alabama through an open, inclusive and

collaborative startup community.

THE ROCKET HATCH MISSION

4 4 Rocket Hatch Community Accelerator

www.rockethatch.org

� A diverse population grows in the Huntsville metro, creating economic opportunity and transforming our culture.

Why?


www.rockethatch.org

CHANGING DEMOGRAPHICS DEMAND A NEW APPROACH

Total Population Huntsville Metro

683,871

Graduated College 44.2%

20-35 y/o 139,464 Double Income No Kids

35-45 y/o 90,602 Double Income With Kids

45-55 y/o 109,992 Mid-Life Executive & Spouses Returning to Work

Population In Prime Entrepreneurial Age

339,988

If only 10%+ of Potential Entrepreneurs Succeed the economic impact is huge

Small Businesses 3,399 x $1M = $3.3B

Medium Businesses 339 x $10M = $3.3B

High Growth Businesses 33 x $1ooM = $3.3B

10%* = Potential Entrepreneurs

33,998 LINK: GLOBAL ENTREPRENEURSHIP MONITOR

REPORT, BABSON COLLEGE * LOWE MILL ARTS & ENTERTAINMENT LARGEST PRIVATE ART CENTER IN THE US

Combined Economic Potential

$10B


www.rockethatch.org

COMMUNITY: THE SUSTAINABLE ACCELERATOR � It all ends and starts with the community. To become sustainable, the community itself needs to organically transform in the accelerator. This means our efforts have to focus just as much on cultural change and values as on training and mentorship.


www.rockethatch.org

A FRESH APPROACH FOR HUNTSVILLE

� The best way to achieve sustainable startup acceleration is to nurture the

community that is already here. Like the

internet, our community should be a

diverse network with multiple nodes and

engines so that a single failure cannot

bring down what we have achieved.

� Currently, there are glimpses of the new

startup community we want to develop,

but it is fragmented and disconnected.

Entrepreneurs, mentors, angels and other

key players exist but are hard to find.

� Our established business community has done well thanks to Research &

Development for the Department of

Defense and NASA leaving untapped our

potential for commercial, creative and

tech startups.

Grassroots Entrepreneurs Think Locally, Act Locally.

� In the past several decades, because of immigration and population growth, an

untapped pool of talent and resources

has been accumulating. This talent pool

includes young professionals who grew

up in the region, highly educated stay-at-

home spouses, and experienced executives ready to start their own

businesses. Our target community wishes

to engage in new and creative forms of

entrepreneurship that can make our

economy more diverse and resilient, our

community more interesting and inspiring, and improve our quality of life.

� We believe there is an opportunity for

great growth in areas that have not been

traditionally our strong suit, but that have

great economic potential in a post-

industrial age.

� We are creating a new kind of startup ecosystem that is supportive of risk-

taking and embraces the pioneers, the

big thinkers, the adventurous and the

bold.

� Market oriented entrepreneurship

requires a lean approach based on customer development instead of

product development. Products must

address market problems and business

models must leverage the digital

economy.

� Creativity needs diversity and trust so ideas can be safely discussed and rapidly

executed. Open communications are

critical to achieve the speed of

implementation required to compete

globally in a post-industrial world.

Vision Rocket Hatch Community Accelerator

www.rockethatch.org


www.rockethatch.org

� Community Values

� Hatchers come from the community

we support and exemplify the

culture we are striving to create. Our culture comes from our core values:

+ Collaboration

+ Trust

+ Open communication + Encouragement

+  Inclusiveness

+ Risk-taking + Fail forward

Rocket Hatch as the startup

community we nurture is a

“do-acracy” where what Hatchers do supersedes what they have or who

they know, what or where they

studied or worked.

Hatchers are always looking to grow

themselves, their business, their

team and their community.


www.rockethatch.org

“Thanks to Rocket Hatch, there is some very good new energy. I was pleased to meet many of the players and I will be happy to support you on other events —thanks for all this help to our community!

Peggy Sammon Serial Entrepreneur | CEO GeneCapture


www.rockethatch.org

FROM IDEA TO STARTUP

� ONLINE

Social media is both a marketing tool and a virtual venue for our startup community

connecting people, places, ideas and events. We dig deep and wide into the local and

regional entrepreneur networks online.

ONLINE, EVENTS and CO.STARTERS programs create complementary cycles that help new entrepreneurs engage, connect and learn as they progress in their journey to create new startups. The cycles are designed to create a community of mentors that give back once they become successful entrepreneurs.

� EVENTS

� Rocket Hatch both supports and hosts entrepreneurship events in the region. Our

goal is to help develop multiple groups and venues that support a tightly connected

startup community.

� BOOTCAMPS+COMMUNITY

� Launching new startups needs community support. Our community helps entrepreneurs

through peer-to-peer interactions, support groups and organized programs such as

CO..STARTERS which helps move from idea to startup in 9 weeks.

Method

Entrepreneur Startup

ONLINE BOOTCAMPS COMMUNITY

O N B O A R D I N G G R O W T H

Engage

Learn

Launch

Accelerate

EVENTS

Connect


www.rockethatch.org

INCLUSIVE, LEAN & SMART

� Rocket Hatch is a startup

We follow the process we are

asking our startups to follow

� Inclusive

� An acceleration network:

We are engaging with all players in the community.

Always looking to partner and

collaborate, our partners

include: entrepreneurs,

investors, mentors, incubators,

government, universities, and nearby communities.

� Players:

To spawn innovation, our

communities need to interact.

Scientists and artists,

engineers and physicians,

technicians and bankers, artisans and lawyers,

educators and public servants,

government and private

–all are welcome.

� Lean

� As agile as our startups:

We are a bootstrapped accelerator. We have spent

our time doing customer

development, understanding

the problems faced by our

local entrepreneurs and

stakeholders (our funders and sponsors).

� It’s not about the building:

Social capital comes first. We

operate virtually utilizing

existing infrastructure and

spending our resources in

activities that create lasting value: Engagement,

Connection, Learning,

Launching, and Accelerating.

The fancy building can wait.

Method

� Smart

� Strategic Partnerships:

We have established relationships with key startup

communities in our region and

beyond.

� We are licensing and adapting

proven programs, creating

new ones only when we see a market opportunity.

� Our local partnerships provide

us with physical locations,

infrastructure, funding, and

sponsorships.

� Our community network

provides volunteers, speakers, mentors, facilitators, services,

infrastructure and funding.


www.rockethatch.org

2014 YEAR IN REVIEW

� Engaging � Launching

� Accelerating

� Highlights of our quest to build an open, inclusive and collaborative startup community in North Alabama.

� Connecting � Learning


www.rockethatch.org

WHAT WE DID

ENGAGEMENT

CONNECTION

LEARNING

LAUNCHING

Social Media Public Relations

25+ Articles and Stories in the media 800 Facebook Likes 584 Twitter Followers

Sip+Hatch Friday Hatches

Candid Conversations

13 Events 804 Attendees

CO.STARTERS Facilitators Training Cohort 1

200+ Attendees 15 Startups Showcased Will This Fly?

Impact


www.rockethatch.org

In less than a year, Rocket Hatch reached out to a diverse community of leaders, entrepreneurs, mentors, investors and stakeholders looking to create

and open, inclusive and dynamic startup ecosystem.


www.rockethatch.org

1 Cohort

CO.STARTERS

C O M M U N I T Y M E T R I C S

1,400+ Total Community

767 Interested

521 Engaged

73 Volunteers

38 Mentors

800 584

Followers

41% Women

25-34 Median Age

13 Rocket Hatch

EVENTS

804 Attendees

24+ From other

communities

$

23 Sponsors

22 Partners

+ Geo-Energy Huntsville

+ HSV Open Tech Coffee

+ Rocket City Launch

Community

Events

Supported

38

December 31st,, 2014

Impact


www.rockethatch.org

Rocket Hatch events inspired and brought together an eclectic mix of engineers, designers, artists, entrepreneurs, inventors, investors. Our goal is to generate excitement but also forward momentum for our startup community.


www.rockethatch.org

A NEW CONVERSATION HAS EMERGED

� 25+ stories, interviews and blogs on local and regional

media and TV


www.rockethatch.org

“There is a lot of momentum right now for startups in Huntsville. I think Rocket Hatch is a major reason for that. The Sip ‘n Hatch events, Will This Fly? and other programs they are hosting are getting people working together.

Harrison Diamond Business Relations Office, Office of the Mayor City of Huntsville


www.rockethatch.org

H A R D M E T R I C S

60+ startups Served

39

December 31st,, 2014

Impact

Assessed&

Promoted&

Educated&

Hatched&

19

9

5


www.rockethatch.org

CO.STARTERS

� Rocket Hatch licensed CO.STARTERS, a proven 9-week program from the Company Lab in Chattanooga that teaches entrepreneurs to examine assumptions and turn business ideas into action using lean business modeling methods in a simple and intuitive way with the help of a supportive community.

� As part of this effort we engaged and educated a select group of experienced entrepreneurs to serve as mentors and facilitators using the CO.STARTERS curriculum and approach.

� Our goal in 2015 is to develop further the mentorship culture around the program providing additional opportunities to engage, connect and activate local mentors and entrepreneurs.


www.rockethatch.org

“I learned so much more with my CO.STARTERS cohorts than I did at college; and I have a business degree. I got the support I needed as I was getting ready to open my studio and was introduced to the North Alabama Revolving Loan which provided the initial funding I needed to get started.

Teri Hartmann CO.STARTERS Graduate Owner Designbyhart


www.rockethatch.org

“It was clear from the quality of the materials that the CO.STARTERS applicant provided that she had a good understanding of her business. She was able to respond quickly and articulate key business metrics such as competition and market potential.

Mary Ellen Judah Executive Direct0r North Alabama Revolving Loan Fund


www.rockethatch.org

“We asked Rocket Hatch to help us organize a one-time meeting of local food entrepreneurs, and they said, “No.” Instead, they helped us have a Food Hatch - three meetings that culminated with a big event centered around local food businesses. And we’re still meeting, still making connections, and still supporting and collaborating with other business owners. It was exactly the kick-start that we needed.

Caitlin Lyon & Michelle Novosel Co-founders Pizzelle’s Confections & Food Hatch Huntsville


www.rockethatch.org

A celebration of the diversity of the creative and entrepreneurial spirit in North Alabama. Will This Fly? provided a platform for local innovators to pitch their ideas.

Finalists got the stage to tell investors,

mentors, and potential partners why their concept is awesome.

This fast-paced pitch event was the first moment in the limelight for new startup ideas around the Greater Huntsville Area.

INNOVATION & ENTREPRENEURSHIP

SHOWCASE


www.rockethatch.org

“Will This Fly? was –hands down, one of the best events I've been to in Huntsville. Can't wait for next year!

Keithe Baggett Entrepreneur | Co-founder Thread


www.rockethatch.org

“We made several key connections from the competition. This includes some potential partners as well as our IP attorney. Startup companies need local advisers and there is no better way to find them than at a competition where you are surrounded by like minded people.

Paul Gradl Will This Fly? Competition Winner Co-founder Weld-3D


www.rockethatch.org

� How Was This Even Possible?


www.rockethatch.org Rocket Hatch Team

We are passionate local entrepreneurs and innovators who represent the primary segments of the local demographics we are trying to engage. Like our community, we love North Alabama and want to see flourish a uniquely local startup ecosystem that is rooted in our traditional strengths but moves us forward to in the post-industrial economy.

THE ROCKET HATCH TEAM

� Tarra Anzalone Co-founder &

Board Member

� Drew Chapman Board Member

� Brad Garland Board Member

� Ben Jarrell Board Member

� Antonio Montoya Founder &

Executive Director

� Ana Aristizabal Co-founder &

Operations Director


www.rockethatch.org

� Jeff Goode Engineering

� David Cochran Finance, Valuations

� Karen Wynne Sustainable Farming

� David Nuttall Art, Design, Software

� Craig Kerstiens SaaS, Product,

Marketing

� Eric Grigorian Manufacturing,

Operations

Rocket Hatch Team

We have established a network of experienced business leaders who are willing to commit their time to help up-and-coming entrepreneurs in their difficult journey. We are proud to have assembled a truly impressive and diverse support community that provides insight, counsel and connections. Below are just a few of the members of our mentor community.

OUR MENTORS

� Timo Sandritter Organizational Development

� Bryan Powell Design, Education,

Software

� Bob Locklear Angel Investing, IP

� Rich Ortiz Marketing & Advertising


www.rockethatch.org

Rocket Hatch true power comes from its committed volunteers that share our vision and want to build an entrepreneurial community that can stand side by

side to any other, anywhere in the world.

JOIN US IN INVESTING IN OUR STARTUP COMMUNITY

www.rockethatch.org

Rocket Hatch 2014 Annual Report

Small Business & Entrepreneurship

Transcript of Rocket Hatch 2014 Annual Report