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Ten Year Celebration 2004 to 2014 A Brief History of Inventrek Michael O’Hair, Ed.D. Jan Hendrix. October 2, 2014. 2000. 2001. 2002. 2003. 2004. 2005. 2006+. Our Journey Began. Launch. Grow. Assess. Plan. Operate. Conceptualize. Demonstrate. 2001. 2000. 2002. 2003. 2004.

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Presentation Transcript
slide2
Ten Year Celebration 2004 to 2014

A Brief History of Inventrek

Michael O’Hair, Ed.D.

Jan Hendrix

October 2, 2014

our journey began
2000

2001

2002

2003

2004

2005

2006+

Our Journey Began . . .

Launch

Grow

Assess

Plan

Operate

Conceptualize

Demonstrate

the january 2000 challenge
2001

2000

2002

2003

2004

2005

2006+

The January 2000 Challenge
  • January Partners in Education Meeting
    • Kevin Clancey, new General Director HR Delphi Electronics, told us, based on a recent trip to California, that Kokomo should have a “High Tech” incubator
    • Following the meeting, I discussed the idea with Greg Aaron, Director of Development for the City of Kokomo
  • Our next step was to visit the Purdue Technology Center at the Purdue Research Park
assess
2001

2000

2002

2003

2004

2005

2006+

Assess
  • On January 13, 2000, a successful first visit was made to the Purdue Technology Center. Ruth Person, Chancellor of IUK, and Charlie Sparks, President of the KHCD, Todd Moser, Chamber President joined Greg and I on the first visit to the Purdue Technology Center
  • April 21, Purdue announced Statewide Partnership
  • In June KHDC formed first Local Focus Groups and July 1, Greg Aaron becomes President of KHDC
  • KHDC BOD authorized Task Force on August 11
    • Executive Committee
    • Facilities and Finance Committee
    • Technology Committee
assess1
2001

2000

2002

2003

2004

2005

2006+

Assess
  • August 14, 2000, the Kokomo Technology Summit was held in cooperation with the Indiana Technology Partnership (ITP)--Mayor Jim Trobaugh, Scott Jones (ITP), Michael O’Hair (Purdue), Senator Steve Johnson, and Matt McKillip (Momentum)
  • North Central Indiana Entrepreneurship & Technology Conference held at IU Kokomo
initial task force decisions
2001

2000

2002

2003

2004

2005

2006+

Initial Task Force Decisions
  • The incubator would be called the Kokomo Technology Center patterned after the Purdue Technology Center.
  • The Kokomo Technology Center would be referred to as a “technology driven” incubator instead of “high tech” – definition not clear.
  • The Technology Committee was charged with identifying the core technologies of our local “technology driven” companies. We got full cooperation.
  • We quickly recognized that this venture was an entrepreneurial experience like any new start-up.
community
2001

2000

2002

2003

2004

2005

2006+

Community
  • On September 2000, a full bus load of community leaders toured the Purdue Technology Center at the Purdue Research Park
purdue technology center gateways program
Purdue Technology CenterGateways Program
  • Purdue Gateways Program
    • Assist University researchers in commercialization of intellectual property
    • Establish sound business plans
    • Proven model for the commercial “launching” of new firms with innovative products, processes or services
  • Gateways staff provided value support to the Kokomo Technology Center
conceptualize
2001

2000

2002

2003

2004

2005

2006+

Conceptualize

February 2001, Assessment of Interest, Potential, & Resources presented to the KHDC BOD

  • Findings
    • Kokomo Niche
    • 1500 Patents since 1975
  • Recommendations
    • Support Purdue Initiative
    • Develop Financing
    • Join National Business Incubator Association
    • Create Website
    • Prepare Feasibility Study
slide11
2001

2000

2002

2003

2004

2005

2006+

Plan
  • SBC/Ameritech $25,000 grant
  • Pittsburgh Gateway Consulted
  • Report Outcomes
    • Kokomo’s Potential
    • Benefits of Incubator
    • Demonstration Projects

April 2002, Feasibility Analysis Report

slide12
2001

2000

2002

2003

2004

2005

2006+

Plan

September, 2002 Business & Financial Plan

  • Facility Financial Plan
  • Potential Services
  • Human Resources
  • Demonstration Budget
demonstrate
2001

2000

2002

2003

2004

2005

2006+

Demonstrate
  • Memorandum of Understanding---Purdue
  • Federal Funding proposal—Indiana, Purdue, KHDC
  • Virtual Incubator (An incubator without walls)
  • Mentoring Team Established
  • Research Venture Capital and Angel Investors
  • Research Potential Sites
  • Secure Funding—City, County, KHDC, USDA
    • Initial gift of $200,000 from the City of Kokomo—Thank you Mayor Trobaugh
demonstrate1
2001

2000

2002

2003

2004

2005

2006+

Demonstrate
  • October 3, 2003, Delphi Electronics donation agreement signed
  • Secure Anchor Tenant – Ivy Tech Health Sciences
  • November 13, 2003, dedication of the Firmin Street facility—Cold Building
  • November 17, 2003, Jan Hendrix hired as General Manager
2004 launch
2001

2000

2002

2003

2004

2005

2006+

2004 Launch

Our mission is to…

focus on long-term economic growth for Kokomo and Howard County by creating new high-tech companies and supporting the development of new technologies for our existing companies.

operate initial strategy
2001

2000

2002

2003

2004

2005

2006+

Operate--Initial Strategy
operate key functions
2001

2000

2002

2003

2004

2005

2006+

Operate--Key Functions
kokomo technology center ktc changes name
Kokomo Technology Center (KTC) Changes Name

In an October 2004 press release, the Kokomo Technology Center announced it had changed it’s name to:

The new name was derived from the word “invent,” which means to produce or contrive by the use of ingenuity or imagination, and “trek” because it takes startup companies on a journey that is sometimes difficult, and unities the two to reflect the mission and vision of the corporation.

facilities
2001

2000

2002

2003

2004

2005

2006+

Facilities
  • Facility Rehabilitation:
  • Lobby
  • ADA Restrooms
  • Shared Conference Facilities
  • Equipment Room
  • Access Control & Security
  • Signage
  • Build-outs
  • Roof
  • Main Entrance
  • SOP:
  • Lease Agreements
  • Building Policies
  • Rate Schedules
promotion
Let’s Get Crackin’

2001

2000

2002

2003

2004

2005

2006+

Promotion
  • Strategic Objectives
    • Increase Awareness
    • Generate Leads
    • Build Key Relationships
  • Positioning & Identity Development
  • Promotional Activities
    • Interactive Web Site
    • E-Marketing
    • Brochure
    • Publicity
    • Magazine Advertisement
    • Networking Events
  • Funding
    • Community Foundation
    • Cinergy
organizational development 2004
February 2004 KHDC Board appointed Inventrek Board of Directors

July 2004, Technology Park Certification approved

Angel Network

Mentor Network

Purdue Gateways Assistance

2001

2000

2002

2003

2004

2005

2006+

OrganizationalDevelopment 2004
proposed service delivery
2001

2000

2002

2003

2004

2005

2006+

Proposed Service Delivery
slide23
2001

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2006+

Grow
slide24
2001

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Grow
slide25
2001

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Grow
slide26
2001

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2006+

Grow
slide27
2001

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2006+

Grow
slide28
2001

2000

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2006+

Grow
slide29
2001

2000

2002

2003

2004

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2006+

Grow
slide30
2001

2000

2002

2003

2004

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2006+

Grow
slide31
2001

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2006+

Grow
slide32
2001

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2006+

Grow
slide33
2001

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2006+

Grow
contributors
Acoustic Supply

Alternative Action

AndyMark

Beck’s Hybrids

Benchmark Mechanical

Brad Howe Ford

Bucheri McCarty & Metz

Button Chrysler Dodge Jeep

Central Indiana Corporate Partnership

City of Kokomo

Comfort Keepers

Community First

Community Foundation of Howard Cty

Community Howard Regional Health

Coca Cola – Kokomo

Dr. Tim & Dana Davis

Delphi

Duke Energy

Dimensions

Eastern Howard School Corporation

First Farmer’s Bank & Trust

Foresite

Fortune Companies

Frontline Logic

Greater Kokomo Economic Development Alliance

GM

Hayes Bros.

Haynes International

Hearn Construction

Howard County

Humphrey Printing

Huston Electric Teletec Communications

IBEW

Indiana American Water Company

Indiana University Kokomo

Ivy Tech Community College

J & J Electric

Kokomo Howard Cty Development Corp

Kokomo School Corporation

Kinder Sign

Kokomo Sanitary Pottery

Kokomo Perspective

Kokomo Tribune

Liberty Financial

Lorentson Manufacturing

Lowe’s of Kokomo

McGogonical

Merrell Bros.

Mid-America Beverage

Momentum, Inc.

Moonlight Mold & Machine

My Favorite Muffin & Bagel

Northwestern School Corporation

Pastarrific

Nick Pate Insurance & Financial Services

Prince/Alexander

Purdue University

R. D. Filip

Reed Contracting Company

Regions Insurance

Rite Quality Office Supply

Russell McIntrye Hilligoss & Welke

St.Joseph Hospital

Salin Bank

SBC

Schmidt Law Office

Shearer Business Solutions

SignPro

Signs Express

Dr. Charles Simons

Small Business Administration

Smith Financial

State of Indiana

Stephens Machine

Synergy Integration

Taylor School Corporation

Tbi

The Wyman Group

Urban Enterprise Association

U.S. Department of Agriculture

U.S. Postal Service

Western School Corporation

Contributors
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