Post on 18-Jan-2015
description
Jonathon L. Benson, CEO
Christine Langley, COO
Incubation and Outreach ProgramCommunity Connected Campus
WYOMING NEEDS ECONOMIC DIVERSITY
• Wyoming stats– 97,100 square miles– <570,000 people– 5.8 people per square mile
• Populations of Largest Cities– Cheyenne, 60,096– Casper, 55,988– Laramie, 31,312– Gillette, 23,238
Problem: How to encourage the development & growth of entrepreneurial & technology companies
throughout the state.
PROCESS OF FINDING A SOLUTION FOR STATEWIDE IMPACT
• WTBC Laramie - Incubator
• Outreach Advisory Program Throughout Wyoming
• Focus on Entrepreneurial Nodes
- Add Networking Educational Program
•Develop Incubators in Entrepreneurial Nodes
SOLUTION: BUSINESS INCUBATORS
• Laramie
• Casper
• Gillette
• Key Features:
SOLUTION: BUSINESS ADVISORY PROGRAM
Goal: Help Companies Grow Larger & Faster
Advice is tied to Stage of Development:Pre-Venture, Pre-Revenue, Initial
Sales, First Growth
Business Process
SOLUTION:
• Networking Educational Group• Improve climate for entrepreneurial companies & Identify Pre-Venture Companies.• Meet 5x per year
- 90 Minutes; Networking & Program• Chapters in Laramie, Sheridan, Gillette, & Casper
FUNDING & COLLABORATIONLocal Economic
Development GroupsState & National
IMPACT: WTBC LARAMIE
Acquired by:
• Graduate Stats– Average annual revenues: $2 Million - $5 Million– Combined FTE employment: 95+– Average wage: $65,000– Combined footprint in community = 25,000sq ft.
• 2-3 student administrative assistants per incubator
• 2 paid internships per yearLuke Schneider
2007 WTBC InternCEO Medicine Bow Technologies
Weston Welch2007 Entrepreneurship Competition WinnerCEO Pronghorn Tech
SUMMARYProblem:
- How to encourage the development & growth of entrepreneurial & technology companies throughout the state.Solution:
- Business Incubators, Business Advisory Program, e2e Identified by:
- Wyoming Legislature, UW Community, and Local Economic
Development GroupsOriginality / Innovation:
- Business Advisory Program, Strategy of Developing IncubatorsSustainable / Scalable / Replicable:
- Completed 2 Nodes, 3rd Node in Development, 4th Node InterestedBenefits / Impacts:
- New High-Potential Companies, Employment, Revenues, Natural Diversification
Role of WTBC: - Managed & Developed Program with Local Advisory Groups
Student Involvement: - Internships $=& student employment @ WTBC, Wyoming
employment opportunities