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Home My WebLink About01. UW-Oshkosh Accelerator Presentation �.��'`��`�° ��`��'.�,� �, w.�� . � �c: �#�""�- �, r �::r � ;�°'� �� s��..,a.�z,.,�,+` � `a ..�'°.z g °� �� # 1 Business Success Center -�*�`�j ,,, _.. �1 '�l_.�#..::.:......... �... University of Wisconsin Oshkosh Business Accelerator Program Executive Summary October 2014 Concept. • Defined through a feasibility study conducted by the University of Wisconsin Oshkosh, in partnership with Chamco, Inc. a local economic development organization • Opportunity to create comprehensive accelerator program following TechStars model,targeting specific industries with aviation/aerospace as a focus • Accelerator program support facility to be located at new Aviation Business Park at Wittman Regional Airport in Oshkosh (park projected completion 2015; facility completion 2016) Accelerator Program Background. • Program will follow nationally recognized and highly successful TechStars model o $20,000-30,000 seed financing to support each program participant o Intensive 12 week mentoring period with experienced entrepreneurs, business leaders, investors, mentors o Networking events o Investor pitches to Wisconsin angel funds, including Angels on the Water and Space Angels o Launch Day • Program will provide additional resources to entrepreneurs: shared space, common services, access to service providers and UW Oshkosh faculty and staff • Entrepreneur deliverables o Minimal viable product o Customer validation o Pitch • Two classes annually of 4-6 companies each ■ Aerolnnovate: First Class Spring 2015 RECRUITING ITS FIRST CLASS NOW! ■ Aviation and aerospace focus ■ National draw ■ Launch Day at Aerolnnovate Pitch n Mingle event July 21, 2015, an event held at AirVenture since 2009 ■ Visit http://www.f6s.com/aeroinnovateaccelerator2015 1 o VenturExcel: First Class Fall 2015 ■ Mixed industry class ■ Geographically focused on Northeast Wisconsin ■ Launch Day at program conclusion Objectives of Overall Project—Accelerator Program and Aviation Business Park. • Increase the number of successful start ups in the region • Facilitate the creation of high quality jobs • Diversify the economy by fostering growth in identified industries, with a focus on aviation and aerospace • Improve entrepreneurial ecosystem—attract more businesses, capital and entrepreneurs and students to our state • Provide opportunities for UW Oshkosh facutty and staff to assist new businesses and share knowledge A 2010 economic impact study completed by UW Extension concluded that the planned full sized 200 acre Aviation Business Park has the long term potential to create up to 1000 direct jobs, 600 additional jobs through trickle down economic effect and over$300MM in additional economic activity in the region. If the Accelerator Program had results similar to TechStars, in year four of the program we could expect 24 of the 30 companies graduated from the program to be in operation and employing 200 people. Part of a comprehensive project with significant collaboration and support. o UW Oshkosh to provide critical resources and oversight including ownership of the support facility, operation of accelerator program and faculty and student resources o Winnebago County: financial contribution to land purchase for aviation business park; airport access, infrastructure and facilities o City of Oshkosh: financial contribution to land and infrastructure for aviation business park; creation of TIF to support accelerator facility costs o Economic Development Administration: $2MM Public Works grant to support infrastructure costs in the park o Department of Defense, Office of Economic Adjustment: over$900,000 towards aerospace cluster development and accelerator program planning efforts o Wisconsin Economic Development Corporation: Has pledged financial support 2 12/4/2014 ■ Donated building creates opportunity for incubator ■ SBDC/Chamcofeasibilitystudydonezoiz evaluatestrends and best practices in incubator programs and facilities ■ Recommends developing a UW-Oshkosh led comprehensive business accelerator program • With a support facility either repurposed(donated building)or new facility at proposed Aviation Business Park ■ Fostering business startup and growth in • Aviation and aerospace • Advanced manufacturing • Advanced materials • Information technology • Clean technology 1 12/4/2014 ■ Following nationally recognized and highly successful"TechStars"accelerator model • Intensive mentoring period • Seed financing • Networkingwithinvestors ■ TechStars founded in Boulder,�O in zoo7 • qi7 graduate companies:3��active,49 acquired,46 failed(89%success rate) • Jobscreated:34zz • Foilowonfundinground:nearlyszMMpercompany ■ Chamco led effort underway to foster development of an aerospace business cluster in the region • OshkoshAviation Business Park ■ Angels on the Water is established • Fosters relationship with gener8tor—accelerator program in southern Wisconsin ■ OshkoshTargeted Industries study underway ■ Aerolnnovate building a reputation as the resource for innovators in aviation Aerolnnovate helps aeroinnovators from across the globe who are starting and growing aero-related businesses and bringing related new technologies to the marketpiace. C4HKOSH 2 12/4/2014 � Workshops/Forums ■ InvestorRoundtable ■ Pitch&Ming/e ■ One-on-One Connections ■ Key Partnerships • Sikorskylnnovations � • SpaceAngelsNetwork • RockfordAreaAerospaceNetwork • EAA • DefenseAlliance • CanadianConsulate Gs��KOSii ■ Need to diversify our economy and create jobs ■ Entrepreneurs createjobs:zolo Kauffman Foundation Study ■ "Growyourown"economicdevelopment strategy ■ TechStars accelerator model has proven track record of success ■ Companies such as Johnson Controls,Harley- Davidson and Oshkosh Corporation were once start ups in Wisconsin ■ Third largest population center in the state—no accelerator program ■ University of Wisconsin Oshkosh and Ae rol n novate ■ Aviation Business Park ■ Other unique local resources • Angels on the Water—relationship with gener8tor • EAA�/VittmanRegionalAirport • Business Success Center 3 12/4/2014 ■ iz week intensive mentoring program • �classes a year of r,-6 companies • Fall"general"class;spring Aerolnnovate class ■ $io,000-$30,00o in seed financing(6-g%equity stake) ■ Access to expertise of UW Oshkosh faculty and staff,successful entrepreneurs and business leaders ■ Access to UW Oshkosh student interns ■ Networking events ■ Physical space with support services ■ z5,000 sq ft facility • common area and services • capability to support light manufacturing • high end technology infrestructure ■ House accelerator program,accelerator graduates and other entrepreneurs,service providers to entrepreneurs and potentially corporate"skunk works" ■ UW Oshkosh to provide critical resources and oversight including ownership of the support facility,operation of accelerator program and faculty and student resources ■ Winnebago County:financial contribution to land purchase for aviation business park;airport access, infrastructure and facilities ■ City of Oshkosh:financial contribution to land and infrastructure for aviation business park;creation of TIFto support acceleratorfacility costs ■ GO-EDC?:marketing of accelerator facility and aviation business park;possibly facility management services 4 12/4/2014 ■ Economic DevelopmentAdministration: $zMM Public Works grant to support infrastructure costs in the park ■ Department of Defense,Office of Economic Adjustment: over$i,000,000 towards aerospace cluster development and accelerator pro�ram planning efforts ■ Wisconsin Economic Development Corporation:Has pledged financial support for both program and facility ■ OshkoshTargeted IndustriesStudy recommends fostering growth in aviation, manufacturing and information technology ■ State undertakes efforts to foster growth in aerospace statewide—Wisconsin Aerospace Consortium—UW Oshkosh as lead office ■ Commitmentsfrom EDA, DoD,WEDC,FVTC and gener8tor to help us ■ Odober2oi3-June zoi5:accelerator program planning,facility design work and fundraising ■ Aprilzoi4-Augustzoi5:consultantstudyon aerospace dusterdevelopment ■ Novemberzoi5:Infrastructurefor park put in place ■ SpringzoiS:Aerolnnovateacceleratorclasswith launch at Pitch n Mingle event atAirVenture(held at Wittman Regional Airport);apply for poD implementation grant ■ Fall�oi5:VenturExcel class;apply UW System ED IncentiveGrant ■ Spring zoi6:Begin constructionon supportfacility 5 12/4/2014 Many engaged in working groups:City,County, Chamco,UW Oshkosh,FVTC,Chamber,SBDC, EAA,Wittman Regional Airport tenants and always looking for more... Working Groups ■ ChamcoAviation DevelopmentCommittee (afterJanuary i will be transferred to GO-EDC) ■ Accelerator Resource Procurement ■ Accelerator Program ■ Accelerator Facility ■ Long term strategy to help businesses create jobs and diversify the economy • UW Extension Economic Impact Study • TechStars results ■ Continue to build entrepreneurial ecosystem of NEW—create self-sustaining"evergreen" program ■ Provide knowledge sharing opportunities for UW Oshkosh faculty and students ■ Attract more capital,entrepreneurs,faculty, students and businesses to our region and state 6 'e...,�4%��t �# �,m��,y°"..g ,�,...-� �5� �`3 ��'�� 8usiness Success Center ..•�.�� :..:::_� _._ .........__ _._ �,�. University of Wisconsin Oshkosh Business Accelerator Program Executive Summary October 2014 Concept. • Defined through a feasibility study conducted by the University of Wisconsin Oshkosh, in partnership with Chamco, Inc. a local economic development organization • Opportunity to create comprehensive accelerator program following TechStars model,targeting specific industries with aviation/aerospace as a focus • Accelerator program support facility to be located at new Aviation Business Park at Wittman Regional Airport in Oshkosh (park projected completion 2015; facility completion 2016) Accelerator Program Background. • Program will follow nationally recognized and highly successful TechStars model o $20,000-30,000 seed financing to support each program participant o Intensive 12 week mentoring period with experienced entrepreneurs, business leaders, investors, mentors o Networking events o Investor pitches to Wisconsin angel funds, including Angels on the Water and Space Angels o Launch Day • Program will provide additional resources to entrepreneurs: shared space, common services, access to service providers and UW Oshkosh faculty and staff • Entrepreneur deliverables o Minimal viable product o Customer validation o Pitch • Two classes annually of 4-6 companies each ■ Aerolnnovate: First Class Spring 2015 RECRUITING ITS FIRST CLASS NOW! ■ Aviation and aerospace focus ■ National draw ■ Launch Day at Aerolnnovate Pitch n Mingle event July 21, 2015, an event held at AirVenture since 2009 ■ Visit http://www.f6s.com/aeroinnovateaccelerator2015 1 o VenturExcel: First Class Fall 2015 ■ Mixed industry class ■ Geographically focused on Northeast Wisconsin ■ Launch Day at program conclusion Objectives of Overall Project—Accelerator Program and Aviation Business Park. • Increase the number of successful start ups in the region • Facilitate the creation of high quality jobs • Diversify the economy by fostering growth in identified industries, with a focus on aviation and aerospace • Improve entrepreneurial ecosystem—attract more businesses, capital and entrepreneurs and students to our state • Provide opportunities for UW Oshkosh faculty and staff to assist new businesses and share knowledge A 2010 economic impact study completed by UW Extension concluded that the planned full sized 200 acre Aviation Business Park has the long term potential to create up to 1000 direct jobs, 600 additional jobs through trickle down economic effect and over$300MM in additional economic activity in the region. If the Accelerator Program had results similar to TechStars, in year four of the program we could expect 24 of the 30 companies graduated from the program to be in operation and employing 200 people. Part of a comprehensive project with significant collaboration and support. o UW Oshkosh to provide critical resources and oversight including ownership of the support facility, operation of accelerator program and faculty and student resources o Winnebago County: financial contribution to land purchase for aviation business park; airport access, infrastructure and facilities o City of Oshkosh: financial contribution to land and infrastructure for aviation business park; creation of TIF to support accelerator facility costs o Economic Development Administration: $2MM Public Works grant to support infrastructure costs in the park o Department of Defense, Office of Economic Adjustment: over$900,000 towards aerospace cluster development and accelerator program planning efforts o Wisconsin Economic Development Corporation: Has pledged financial support 2