Establishing an Entrepreneurial Climate at the University of Arkansas ASEE Annual Conference, 26...

Establishing an Entrepreneurial Climate at the University of Arkansas

ASEE Annual Conference, 26 June 2001Albuquerque, New Mexico

Ken Vickers [email protected] Salamo [email protected] Loewer [email protected] Ahlen [email protected]

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 2Ack

now

ledg

emen

ts• National Science Foundation

• Partnership for Innovation (PFI)• Integrative Graduate Education and Research

Training (IGERT)• Materials Research Science and Engineering

Center (MRSEC)• Experimental Program to Stimulate Competitive

Research (EPSCoR)

• Department of Education• Fund for Improvement of Post Secondary

Education (FIPSE)

• Arkansas Science and Technology Authority• University of Arkansas

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 3Age

nda1. Elements of Entrepreneurial Climate

2. Entrepreneurial path

3. Innovation Incubator Attributes

4. Innovation Incubator Client Selection

5. Competing for major companies

• Educational opportunities

• Quality of Life discussions

• Business climate in NW Arkansas

• State base financial incentives

• Climate for startup support industry

• Infrastructure and labor force

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 4Impr

ovem

ent o

f E

ntre

pren

euria

l Cul

ture

Five elements contributing to improvement

1. Establishment of Technology Business Incubator (Genesis at Engineering Research Center)

2. Establishment of centers of coordinated research activities (HiDEC, MRSEC C-SPIN, CSTAR, etc)

3. Establishment of entrepreneurial elements in degree program (MGMT 5383 Entrepreneurship of Technology – microEP Graduate Program)

4. Establishment of research linkages with businesses (Innovation Incubator, Space Photonics, etc)

5. Demonstration of the will to compete for major high technology players

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 5Res

earc

h C

omm

erci

aliz

atio

n P

roce

ss a

t U o

f AArkansas Small Business Researchand Individual Inventors

Company Formation

Genesis Technology Incubator

NSF PFI Innovation Incubator

Successful Technology Startup Company

microEPGrad Program

Research on Campus

Genesis Technology Incubator

NSF PFI Innovation Incubator

Technology Park Client

(entrepreneurial technical degrees)

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 6Attr

ibut

es o

f the

U o

f A

Inno

vatio

n In

cuba

tor

(I^2

)1. Dedicated full time director from industry

(funded by NSF PFI and Dept of Ed FIPSE)

2. Funding for 12 month graduate students reporting to the I^2 Director (NSF PFI)

3. $10k voucher for I^2 proof of concept research client expenditures on campus (NSF PFI)

4. Administrative support through entrepreneurial programs (microEP and NSF IGERT)

5. I^2 client selection process run by stakeholder board

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 7Inno

vatio

n In

cuba

tor

Clie

nt

Sel

ectio

n P

roce

ss

Four IdeasPer YearReceiveVouchers

Pro

ject

Sel

ecti

on

Idea 1

Idea 2

Idea n

I2 Board of DirectorsSets Selection Criteria

I2 Selection PanelReviews Ideas

AS

TA

Bus

ines

s N

etw

ork

I2 InnovationTable

Open Discussion

HiDEC Processing

MBE Lab

Research Thesis

Analytical Tests

Faculty Research

CommercializationSupport

Genesis

ACTT

I2 Faculty

Business Admin

SBIR

ASTA

Idea Passes Proof of Concept

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 8Com

petin

g fo

r M

ajor

T

echn

olog

y In

dust

ry S

ites

Partnership between

1. University of Arkansas (education)

2. City of Fayetteville (Quality of Life)

3. NWA Region (business climate)

4. State of Arkansas (financial incentives)

5. All (support industry entrepreneurism)

6. All (infrastructure and labor force)

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 9Pro

mot

ing

the

Uni

vers

ity o

f A

rkan

sas

as R

esou

rce

• Its liberal arts and land-grant mission: teaching, research, and service

• Research and scholarship - based teaching and learning

• Public service and service based learning

• Diversity – Faculty, students, and staff

• Seeking excellence• Partnering with leading

companies for mutual benefit

A nationally competitive, student-centered research university serving Arkansas and the World

26 June 2001


mot

ing

Fay

ette

ville

Q

ualit

y of

Life

• Walton Arts Center • Concerts• theater productions• art exhibits

• Dickson Street • Food• Shopping• Nightlife

• The Square• Farmers Market• Springfest• Autumnfest• Lights of the Ozarks

A Historic City with a Wealth of Opportunity and Character

26 June 2001


mot

ing

NW

A R

egio

n -

Reg

iona

l Key

Fac

ilitie

sWal-Mart Headquarters

J.B. Hunt Headquarters

NWA Regional Airport-XNA

Tyson Foods Headquarters

1. Research & Tech Park

University of Arkansas

4. Marinoni site

2. Greenwood site

3. Jordan site

5. Cummings site

Drake Field

26 June 2001


mot

ing

NW

A In

dust

ry -

G

over

nmen

t Par

tner

ship

s • Northwest Arkansas is home to an entrepreneurial spirit

epitomized by the emergence of:• Wal-Mart, the world’s largest retailer• Tyson, the leading producer of poultry and food

products in the world• J.B. Hunt Trucking, a leading trucking and logistics

innovator in the United States

• Corporate growth has been managed in partnership with community governments to retain high quality of life

• The Northwest Arkansas Council leads regional strategic planning to assure both future economic growth and continued quality of life in the region

• The regional business community would welcome another international business segment to NWA

26 June 2001


mot

ing

Fin

anci

al

Ince

ntiv

es P

acka

ge• Arkansas Economic Development Act

• Arkansas Corporate Income Tax Credits up to 100% of the total amount of the project investment, negotiated each year in accordance with wage schedule.

• 100% refund if average hourly rate exceeds $21.11.• Subject to terms of financial agreement executed prior

to construction.• Sales and Use Tax Refunds on building materials and

on all taxable purchases of machinery and equipment during the period specified by financial agreement (5.125% rate).

• Using company supplied estimates of expenditures, refunds of (proprietary information removed from this location).

Incentive Package: Option 1

26 June 2001


mot

ing

an E

stab

lishe

d P

ath

for

Tec

h S

tart

ups

• Campus research in HiDEC and Physics

• Innovation Incubator• Tech Transfer Office• Genesis Technology

Business Incubator• Technology Business

Park clients for ERC• Major Industry as

research partners• Capitalization through

local and state initiatives• University/City/State

partnerships for success

Research as the State’sEconomic Engine

26 June 2001


mot

ing

Labo

r F

orce

S

tabi

lity

in F

ayet

tevi

lleRecruitment Through• Alumni Interest

• Trained in industry• Interested in home

• Current graduates• All regional schools

Retention Through• History and Tradition

• Senior Walk• Ozark lifestyle• Museums and societies

• Progress into Future• Town Center• Large town shopping• Patio on the Square

• Proactive Education• FHS AP success• NSF centers at UA• Regional partnerships

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 16In C

oncl

usio

nDeveloping new entrepreneurial cultures

• Dedicated and passionate leaders

• Education of the residents in the culture

• Opportunities to put ideas into action

• Support of governmental bodies

• Extra support of early role models

• Good linkages between all partners

• Belief that success is the expected outcome, not the unusual event

26 June 2001

Ken Vickers - University of Arkansas - ASEE Annual Conference 17Bac

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26 June 2001


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26 June 2001


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26 June 2001


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Site

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