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ENet: Entrepreneur Development & Incubation Strategies Summary

Learn about ENet's programs to promote entrepreneurship through support services, assessment tools, and community involvement. Discover how various communities are enhancing job creation and investment through effective incubation strategies.

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ENet: Entrepreneur Development & Incubation Strategies Summary

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  1. Office of Planning & Budget NESPAL, June 19, 2002

  2. Georgia Institute of Technology • Advanced Technology Development Center (ATDC) 1980 • Incubators in Atlanta (10th St. & GCATT) • Middle Georgia Tech. Dev. Center in Warner Robbins • Economic Development Institute • Regional Office Network • Center for Economic Development Services (CEDS) • Georgia Rural Economic Development Center

  3. Job Creation Alternative • Heavy emphasis on recruitment • Recent help for existing industry • Most communities drop the ball when it comes to entrepreneurs

  4. ENet Established To Assist Communities

  5. ENet Provides Structure and Methods • Entrepreneur Development Programs • Business Incubation Strategy

  6. Entrepreneur Development Programs • Build awareness • Build support infrastructure • Research and help implement new initiatives

  7. Community Entrepreneur Assistance • How do you create the culture that promotes the development of entrepreneurs? • What are the standards? • How can you assess community entrepreneur readiness?

  8. Entrepreneur Hierarchy of Needs

  9. Entrepreneur Readiness Assessment (ERA) • Recently developed by ENet and GREDC • Examines: • Existing entrepreneur environment • Entrepreneur assistance • Financial resources • Potential entrepreneur development opportunities • Blueprint for future community activity • See handout

  10. Entrepreneur Readiness Assessment • Tattnall County • Beta site • ERA needed everywhere • Few communities that will now be considered “entrepreneur ready” • See handout for summary of Tattnall report

  11. Involve leadership Build community awareness & support Build local resources Network with existing service providers Start new programs: Entrepreneur support teams Mentors Youth programs Angel funding networks Incubator “without walls” Incubator ENet Can Help

  12. Entrepreneur Development Efforts • Cherokee County • Toombs/Montgomery Counties • GREDC & ENet • Coffee County • Hall County • Discussions with several more • Everyone receptive

  13. Toombs/Montgomery Counties

  14. Toombs/Montgomery CountiesEntrepreneur Support Team Mission Statement • The Toombs-Montgomery Entrepreneur Support Team is committed to promoting and supporting entrepreneur development to create and retain high quality jobs and investment in the Toombs-Montgomery County area. Program supported by GREDC and ENet

  15. Incubation Strategies • Educate • Investigate feasibility • Plan program • Funding • Help with facility • Operations • Ongoing evaluations

  16. Understanding Incubation • Key is services not facility • Setting realistic expectations • Realistic financial projections • Marketing • Understanding operations

  17. Community Incubator Readiness Assessment • Tool developed by EDI • Is the community ready for an incubator feasibility study? • Helps to educate community • Community is scored to show their readiness • Blueprint for further action

  18. Incubation Efforts • Americus/Sumter County • Columbus • Savannah Technology Effort • Dooly/Crisp Counties Empowerment Zone • Tift County NESPAL “Technology Development Center”

  19. Incubator Facilities • Staffed incubators can serve region entrepreneur development needs • NESPAL TDC in Tifton first model • ATDC ENet will staff and manage

  20. Statewide Momentum Building • Many players, little awareness & coordination • More talk about entrepreneur development • Communities frustrated by expense and lack of results with traditional economic development

  21. Collaborative Efforts • ENet Advisory Council • National Business Incubation Association • Center for Rural Entrepreneurship

  22. ENet Advisory Council • To promote entrepreneur development efforts in Georgia • Inform, coordinate and innovate • Inclusive group with quarterly meetings

  23. Numerous communities UGA UGA- SBDC Several Tech colleges GT EDI ATDC OneGeorgia DTAE DCA DITT EDA Georgia EMC GEDA Anyone interested! How about OPB? ENet Advisory Council Members

  24. Georgia Economic Developers Association • Entrepreneur Development Task Force established • Recent report to GEDA Board • “entrepreneur effort is greatly needed, especially in rural areas”

  25. National Collaboration

  26. National Business Incubation Association • International Conference In Toronto, Canada • Presented on “Building your Community’s Entrepreneur Infrastructure”

  27. Dinah Adkins, President NBIA • “more focus on services… it’s not the facility” • “need better integration into community”

  28. Upcoming Opportunities:

  29. ATDC- ENet Summary • More agencies/communities interested • Provide communities with a structure and methods • ENet Advisory Council - collaboration • Several promising pilot programs underway, both for entrepreneur development and incubation

  30. Help Spread the Gospel! • Entrepreneurs Work!

  31. Office of Planning & Budget NESPAL, June 19, 2002

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