MUs Economic Development Cabinet

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MUs Economic DevelopmentCabinet February 19,
2008
Economic Developer Fingertip Resources By Steve
Wyatt, J.D.Statewide Program DirectorBusiness
Development
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Is Entrepreneurship in Your Economic Development
Strategy?
Source National Center for Small Communities,
Small Community Quarterly, Fall 2003
Entrepreneurs often fall between the cracks.
Source A Governors Guide to Strengthening
Entrepreneurship Policy, 2004
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Is Entrepreneurship in Your Economic Development
Strategy?
Source National Center for Small Communities,
Small Community Quarterly, Fall 2003
Entrepreneurs often fall between the cracks.
Source A Governors Guide to Strengthening
Entrepreneurship Policy, 2004
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Where is the Innovation?

• High-tech small business generate five times more
  patents per RD dollar than large businesses.1
• SBIR-funded companies are about 20 times more
  productive than universities in generating
  patents per federal dollar.2
• Small businesses with less than 20 employees have
  generated more than 80 percent of all net new
  jobs during the past 14 years.3

1 Source Ann Eskesen, President, IDI,
http//www.inknowvation.com/, from her invited
presentation at the Tibbetts Awards, Sept 2006,
Washington, DC. Original source Rembrandts in
the Attic Unlocking the Hidden Value of Patents.
Kevin G. Rivette and David Kline, Harvard
Business School Press 2000.
2 Source Ann Eskesen, President, IDI, from
her proprietary SBIR database, the most extensive
in the world. The IDI database shows consistency
in the SBIR vs university patent productivity
over the history of the SBIR program.
3 Source Office of Advocacy, U.S. Small
Business Administration, from data provided by
the U.S. Bureau of the Census, Statistics of U.S.
Business
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NGA Best Practices

• Integrate Entrepreneurship into State Economic
  Development Efforts
• Use the Education System to Nurture and Encourage
  Future Entrepreneurs
• Incubate Entrepreneurial Companies
• Invest in Diverse Sources of Risk Capital for the
  States Entrepreneurs and Growth Companies
• Get out of the Way through Regulatory and
  Reform and Streamlining

A Governors Guide to Strengthening State
Entrepreneurship Policy. 2004
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Resources Supporting the Entrepreneurial Pipeline
Innovation Discovery
Seed Investment Stage
Venture
Angel
Successful Starts
Resources
Expertise
Facilities
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Innovation DiscoveryCommercialization Path - SBIR
Intellectual Property Management Fund 15,000
University Research Expertise
Government Sales
Forgivable Bridge Loan 50,000
Application Phase 0 5,000
Application Phase 1 75,000
Application Phase 2 750,000
Phase 3
Economic Outcomes Jobs, Sales, Tax Revenues
Concept Developed
Commercial-ization
Proto-type Developed
Application Phase 1 75,000
Business Industry
Angel Venture Investors
Application Phase 1 75,000
Small Business Development Centers, MO FAST,
Innovation Centers, Procurement Assistance Centers
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Innovation/Discovery

• Source
• Universities Tech Transfer Offices
• Corporations, R D Efforts
• Small Business Innovators
• Individual Innovators Researchers

Connection Challenge
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Research Alliance of Missouri

• OUR MISSION
• To increased research productivity and technology
  innovation.
• To increased collaborative between the academic
  and business sectors.
• To provide greater access of Missouri businesses
  to university derived technologies.

University of Missouri Representative Mike
Nichols, Vice President for Economic
Development321 University HallColumbia, MO
65211573-882-6726
RAM currently consists of 12 universities, whose
chief research officers and technology transfer
officers serve as representatives to RAM. The
Missouri Technology Corporation, the
Missouri Department of Economic Development, and
the Department of Higher Education participate as
ex-officio non-voting members of the Research
Alliance.
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Innovation/Discovery Connectors

• Source
• Missouri SourceLink
• Small Business Development Centers (SBDC)
• SBDC Fast Initiative
• Innovation Centers
• Missouri Enterprise
• Procurement Assistance Centers

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Small business technical assistance in
management, marketing and finance.

• Training and Education 15,000 Attendees
• Business Counseling in management, marketing
  and finance 3,000 Clients
• Products and Services
• Key partnerships

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The Missouri Extension Business Development
Program
Truman State University
Northwest Missouri State University
Holt County Extension Center
NMSU Chillicothe
Macon County Extension Office
NMSU St. Joseph
Monroe County Extension Center
Clay County Extension Center
Audrain County Extension Center
UMKC
MU
UMSL
Kansas City
St. Louis
Cassy County Extension Center
Columbia
St. Charles County Extension Center St. Louis
County Extension Center
Programs associated with locations identified
include
Cole County Extension Center
University of Central Missouri
Phelps County Extension
Camden County Extension Center
UMR
Missouri Southern State University
Madison County Extension Center
Springfield
Cape Girardeau County Extension Center
Missouri State University
Southeast Missouri State University
Greene County Extension Center
MSU West Plains
Howell County Extension Center
Taney County Extension Center
Locations - 2007
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Technical assistance for high-technology and
high-growth companies SBIR/STTR assistance.

• Agency identification and evaluation
• Proposal preparation and support
• Commercialization planning
• Strategic and business planning
• Marketing and financing assistance

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Missouri Innovation Centers

• Offer a wide range of management and technical
  assistance to businesses
• Knowledgeable on up-to-date innovations to help
  businesses increase profits
• Assist entrepreneurs with developing business
  models, financing, space, marketing, networking
  and research

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Missouri Innovation Center -- Columbia

• Stimulating technology entrepreneurship
• Opportunity assessment (the technology, the
  market and the management team)
• Planning, financing and accomplishing research
  and development
• Developing the business plan and securing startup
  funding and growth capital
• Incubating the ventures that result (mentoring
  and physically accommodating).

Missouri Innovation Center Dr. Jake Halliday,
Executive Director University of
Missouri-Columbia 419 Cornell Hall Columbia, MO
65211 [phone] hallidayja_at_missouri.edu
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Missouri EnterpriseBusiness Assistance Center
Rolla

• Core Capabilities
• Start up incubation
• Tech Transfer
• Product development

Contact information Missouri Enterprise Rick
Prugh, Executive Director 800 W. 14th
Street Rolla, MO 65401 [phone] rprugh_at_miss
ourienterprise.org
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The Center for Emerging Technologies St. Louis

• Where breakthrough ideas become reality.
• The Center for Emerging Technologies (CET)
  provides the specialized facilities,
  knowledgeable support services, entrepreneur
  training programs, and access to capital needed
  to establish and develop next generation medical
  and other advanced technology companies. 

Center for Emerging Technologies Marcia Mellitz,
Executive Director 4041 Forest Park Avenue St.
Louis, MO 63108 [phone] mmellitz_at_emergingt
ech.org
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Missouri Research Corporation Cape Girardeau, MO

• The Missouri Research Corporation (MRC) operates
  under the auspices of Southeast Missouri State
  University. The MRC established the Southeast
  Innovation Center to develop, grow and retain new
  businesses that will increase the number and
  quality of jobs in the region. 

Missouri Research Center Dennis Roedemeier,
Executive Director Southeast Missouri State
University One University Plaza Cape Girardeau,
MO 63701 [phone] droedemeier_at_semo.edu
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Joplin, MO

• Professional services include    
• Access to professional servicesPersonalized
  supportManagement reviewBusiness review Local
  Networking opportunities Missouri Innovation
  Support Special programs

Newman Business and Technology Innovation
Center Steve Russell, Executive Director 320 E.
4th Street Joplin, MO 64801 (417)
624-4150 srussell_at_joplin.com
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KC SourceLink Kansas City, MO
KCSourceLink connects a network of more than 140
resource providers in the Kansas City region that
offer business -building services for small
business success. The mission is to help small
business grow and prosper in the Kansas City
region by providing business owners easy access
to needed services.
Maria Meyers, Executive Director Institute for
Entrepreneurship and Innovation University of
Missouri-Kansas City 5100 Rockhill Road Kansas
City, MO 64110-2499 [phone] meyersm_at_kcsour
celink.com
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• The Jordan Valley Innovation Center is comprised
  of three individual operating centers  The
  Center for Applied Science and Engineering
  (CASE), the Center for Biomedical and Life
  Sciences (CBLS), and a Missouri innovation
  center, as designated by the State of Missouri. 
  Springfield Innovation, Inc. is the non-profit
  entity designated to operate the innovation
  center. 

Springfield Innovation, Inc. Allen D. Kunkel,
CEcD Associate Vice President for Economic
Development Chief Operations Officer,
Springfield Innovation, Inc. Missouri State
University  524 N. Boonville Springfield, MO
65806  Phone [phone] AllenKunkel_at_MissouriS
tate.edu
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Missouri Rural Enterprise and Innovation Center
Truman State University, Kirksville

• The mission of the innovation center will include
  but will not be limited to serving as a
  creative economic development agency focused on
  the needs of rural communities and rural business
  enterprises across the state of Missouri with
  particular emphasis on the northern half of the
  state.

Missouri Rural Enterprise and Innovation
Center Dr. Michael McManis Truman State
University 100 East Normal Kirksville, MO
63501-4221 [phone] mmcmanis_at_truman.edu
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The Institute for Entrepreneurial Studies and
Development

• The Institute provides educational programs and
  services in technology and business skills for
  entrepreneur and small businesses. Experts
  located both on and off-campus provide
  consulting, training and research assistance as
  needs are identified. 

Institute for Entrepreneurial Studies and
Development Wesley Savage, Director Central
Missouri State University Dockery Suite
101 Warrensburg, MO 64093 (660)
543-4663 savage_at_cmsu1.cmsu.edu
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Helping sell to federal, state, and local
government agencies.

• Research and find bidding opportunities.
• Help evaluate the opportunity.
• Assist with bidder registrations and
  certifications.
• Help in bid preparation and submission.
• Help with execution of contract.

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Missouri Enterprise

• Operates the NIST Manufacturing Extension
  Program since 1994
• Help small and medium sized manufacturers
  achieve significant cost reductions
• Help small and medium sized manufacturers
  develop ideas for growth

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Questions?