Welcome to the
KEWEENAW
WHAT ARE BUSINESS INCUBATORS?
Business incubators are defined as multi-tenant facilities with on-site
management that deliver an array of entrepreneurial services targeted to
support the maturation and success of start-ups.
In addition, MTEC SmartZone extends services and resources
throughout the entire Upper Peninsula region.
Only 44% of start-ups are still in business after
5 years. HOWEVER, 87% of all graduates from
business incubators are still in business.
Source: National Business Incubators Association
MIND SET
VS.
SKILL SET
WHO IS MEDC?
Michigan Economic Development Corporation
MTEC SmartZone is designated by the State to administer funding from the
Michigan Strategic Fund for marketing, business attraction and retention and
coordinate statewide Economic Development Administration programs.
• Business attraction and acceleration
• Economic gardening
• Entrepreneurship
• Strategic partnerships
• Talent enhancement
• Urban and community development
WHAT IS
A SMARTZONE?
Network of 15 SmartZones in Michigan,
created by the MEDC out of legislation.
SmartZones are a Network —an
innovative, statewide, technology
business acceleration strategy to build
entrepreneurial talent and infrastructure.
WHO IS MTEC SMARTZONE?
• Business incubator and accelerator for technology companies
• 501-C3 Organization since 2003
• Network of 15 SmartZones in Michigan, created by the MEDC out of legislation
• MISSION: JOB CREATION through the commercialization of technology anchored
by research universities.
• Diverse Income Support: Funded through direct contributions, revenue from
investments, restricted contributions from grants, revenue from other sources,
program services revenue/ rent grants, local tax capture
MTEC SMARTZONE SUCCESSES
• 4 Incubator Locations
• 19 Start-Up Companies
• 2 F-100 Companies
• 3 Graduates
• 250+ Technology Jobs Created
• 12 Patent Filings, 2 Foreign
• Entrepreneur Support Center in 6 months:
60 Entrepreneurs, 30 LLCs created
8 Technology Companies
• Michigan’s 50 Companies to Watch Award – 2011, 2010, 2008, 2007, 2005
FOUR LOCATIONS
Powerhouse
•
•
•
•
•
15,000 sq. feet
Includes one floor lab space
High-current four phase power
GE Aviation
Back-up generator
Lakeshore Center
• 60,000 sq. feet
• High-Tech Conference Room
• Easily removable walls to
accommodate growth
• Back-up generator
• Dematic
Jutila Center
• 14,000 sq. feet
• High-Tech Conference Room
• Back-up generator
ATDC
• 27,000 sq. feet
• High-Tech Conference Room
• Back-up generator
SUPPORT SERVICES
PRE-SEED LOANS
& FINANCING
ACCOUNTING
ASSISTANCE
BUSINESS
COUNSELING
MARKETING
SERVICES
BUSINESS
NETWORKING
GREAT SPACE
LEGAL SERVICES
PATENT ASSISTANCE
GREAT SPACE
HD VIDEO
CONFERENCING
FINANCING
TRADE SHOW
MATERIALS
LARGE FORMAT
PRINTER
HIGH SPEED
INTERNET
TELEPHONE
SYSTEMS
OFFICE
EQUIPMENT
WHAT IS A BUSINESS?
We’re not finding jobs- we’re creating wealth in the community!
Owner
Business
Generates own
momentum & growth
COMMUNITY
WEALTH
Customer
Team
THE PERFECT CLIENT
SUCCESSFUL ENTREPRENEURS HAVE/ ARE
• COACHABLE and listens
• UNIQUE IDEA, product or service that is a trade-secret or IP
• LARGE ENOUGH MARKET to support sales and growth
• Willing to build a TEAM (employees, friends, sub-contractors, colleague)
• PASSION which could also mean tenacity and stamina
• Ability to MANAGE RISK
• ADDS VALUE
• Ability to spot an OPPORTUNITY
BUILDING ON THE SUCCESS
Companies
Start
ATTRACTION
EXPANSION/ GROWTH
START-UPS
Survive
JOBS
Companies
JOBS
Companies
JOBS
2012
10
2
6
2013
10
2
6
31 JOBS CREATED SINCE JANUARY - 400% above goal
1
15
1
15
2014
10
3
8
2
30
1
20
2015
10
4
10
2
35
1
25
2016
10
5
12
2
40
1
25
2017
12
5
14
2
40
1
25
2018
12
6
15
3
50
1
25
2019
15
6
15
3
60
1
25
2020
18
7
15
4
70
1
25
2021
20
10
120 Jobs
15
4
80
420 Jobs
1
750 JOBS
25
210 Jobs
Thank You