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2010 Successes 2011 Opportunities Washtenaw Workforce Investment Board July 8, 2011

2010 Successes 2011 Opportunities Washtenaw Workforce Investment Board July 8, 2011. Mission Statement. “SPARK” will be the driving force in establishing the greater Ann Arbor region as a desired place for business expansion and location ...by identifying and

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2010 Successes 2011 Opportunities Washtenaw Workforce Investment Board July 8, 2011

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  1. 2010 Successes 2011 OpportunitiesWashtenaw Workforce Investment BoardJuly 8, 2011

  2. Mission Statement “SPARK” will be the driving force in establishing the greater Ann Arbor region as a desired place for business expansion and location...by identifying and meeting the needs of business at every stage, from those that are established to those working to successfully commercialize innovations.

  3. Guiding Principles • Attract and retain high-value, knowledge-intensive, diverse workers • Innovation in products, services and delivery • Ann Arbor USA (brand entire region) • Proactive versus reactive • “Open Source Economic Development” • Statewide Collaboration/Partnerships

  4. Public – Private partnership among academia, business, government and not-for-profit organizations Governed by a dynamic board, executive committee and officers Led by superior caliber employees, consultants and volunteers To be funded by all members of the partnership Organization 3

  5. Organization Ann Arbor SPARK Existing Business Innovation (Start-ups) Business Retention and Expansion Attraction Business Acceleration Michigan Pre-Seed Capital Fund MLSIC Wet Incubator • Marketing and PR • Events • Talent Enhancement • Entrepreneurial Education • Research and Business Info. • Incentive Preparation SPARK Central Incubator SPARK East Incubator Microloan Funds

  6. Vital Cycle of Success A VITAL COMMUNITY Increased Prosperity,Opportunity which encourages which helpscreate AGROWING ECONOMY enables… Revenue Growth for City

  7. Outward-Oriented Industries Drive Rest of the Economy

  8. a Community Success Factors Shaped By Our Public-Private Partnership

  9. Targeted Industry Sectors Focus on a finite set of emerging technologies or industry sectors • Advanced Automotive Manufacturing and Materials • Aerospace Engineering and Manufacturing • Cleantech • Homeland Security and Defense • IT / Software • Life Sciences • Optics / Measurement • Printing and Publishing 11

  10. Looking Forward: Strategic Plan Broadened Regional Economic Development Effort • Comprehensive package of assets and resources • Definable metropolitan image, clear message • Private sector appeal • Breaks down barriers to increased collaboration • Positive narrative for the region 19

  11. SPARK Roles and Responsibilities • Visible leadership in attraction • Grow the business attraction and retention effort • Scale and amplify acceleration and startup support • Continue to emphasize talent

  12. Talent Portfolio • ETCS Grant for Talent is $130K for 2011 • Talent Enhancement- Focused on retaining and attracting high-value talent within Michigan • Job Portal – Ann Arbor SPARK initiated and currently being scaled to the state level • Hot Shots – Monthly Job Fair for Top Talent • Communications – job seekers (weekly), employers (monthly), college connections (quarterly) • Entrepreneurial Education • Shifting Gears – Ann Arbor SPARK initiated and currently being scaled to the state level – bi-annual • Mingle & Match – quarterly • Boot Camp – quarterly • Start Your Own Business – monthly

  13. Talent Portfolio

  14. 2010 SPARK Success • 42 company growth projects creating: • $151 million in new investment commitments • 1,425 new jobs • Assisted 62 innovation start-ups • Awarded 12 pre-seed investments and 30 microloans • Nurturing 60 incubator tenants • Assisted 400 companies with 1,300 job postings

  15. Ann Arbor Region ROI 2006 – 2010 YTD Results • 176 project successes - $1.25 billion new investment commitments • 10,474 new jobs and 6,236 jobs retained • Assisted 278 innovation start-ups • 54 Pre-Seed investments in 52 companies ($225k/company average) • 48 Microloans in 46 companies ($39k/company average) • 177 tenants in three regional incubators • Leveraged community investments to over $34 million – through Federal and State grants, equipment donation to MIED, foundations and other sources • Assisted 1,401 companies with 4,105 job postings • Assisted 4,300+ job seekers with employment searches

  16. Discussion

  17. Entrepreneurial Success Story Compendia Biosciences • Formed in 2005 • Technologies developed by University of Michigan professors • Bioinformatics-molecular oncology tools, data, and analysis software • Attended Entrepreneurs Boot Camp 2005 • SPARK provided $49,000 consulting services; business development, marketing • SPARK Talent team helped recruit CEO and technology manager • Revenue 2009 ~$X million • Received $3.7 million in grants and $3.6 million equity investments including $250,000 from the MI Pre-Seed Fund • Current employment - 26 • Office located in downtown Ann Arbor (SmartZone) • Won 2007 “Innovation Company of Year” award from Michigan Business Review

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