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49-10 Resolution
RECORD OF RESOLUTIONS Resolution No. 49 -10 Passed , �0 A RESOLUTION AUTHORIZING THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH TECHCOLUMBUS WHEREAS, Dublin's dynamic local economy is the direct result of an entrepreneurial spirit; and WHEREAS, the City of Dublin recognizes that in addition to its efforts to retain, expand and attract business, the City must also "set the conditions" for "job creation "; and WHEREAS, the City of Dublin must facilitate entrepreneurship in order to increase the level of entrepreneurial activity and improve the chances of establishing successful technology enterprises by honing their skills and providing access to necessary tools, technical and financial resources, and by working proactively to enhance the local entrepreneurial environment; and WHEREAS, it is the goal of the City of Dublin to accelerate the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services in order to produce successful companies that will be financially viable, freestanding and create quality jobs for the region; and WHEREAS, the City of Dublin and TechColumbus have jointly pursued an Entrepreneurial Signature Program (ESP) grant from the State of Ohio to increase and assist technology -based entrepreneurial commercialization initiatives by providing a funding match of one dollar to every one dollar set aside by the City of Dublin over a two year period; and WHEREAS, TechColumbus is a membership led, non - profit organization of technology based companies in the Central Ohio region and is the only organization that fully qualifies as an applicant for ESP in the Central Ohio region and is the "Lead Applicant" for the 15 county region; and WHEREAS, TechColumbus is uniquely qualified and staffed to provide those services needed to support technology -based entrepreneurial initiatives and support services; and WHEREAS, the City of Dublin and TechColumbus desire to enter into an Agreement memorializing the responsibilities and commitments of each party to efficiently and effectively execute the successful grant of ESP monies. NOW, TIAREFORE, BE IT RESOLVED by the Council of the City of Dublin, State of Ohio, of the elected members concurring that: Section 1 . The City Manager is hereby authorized to extend its existing Agreement with TechColumbus. Section 2. The City commits to a total of $200,000 per year for the years 2011 and 2012 concurrent with the City's fiscal years. Section 3. This Resolution shall take effect upon passage, in accordance with Section 4.04(a) of the Revised Charter. Passed this jkda day of Q(�i�j}��� 2010. Mayor - Pr ing Officer Attest: Cl rk of Council CITY OF DUBLIN- Office of the City Manager 5200 Emerald Parkway • Dublin, OH 43017 -1090 Phone: 614- 410 -4400 • Fax: 614 - 410 -4490 To: Members of City Council From: Marsha Grigsby, Interim City Manager ':' i 8 J y G Date: October 7, 2010 Initiated By: Dana L. McDaniel, Deputy City Manager /Director of Economic Development Re: Resolution 49 -10 — TechColumbus Agreement Summary Attached for your consideration is Resolution 49 -10, authorizing the City Manager to enter into an agreement with TechColumbus. If approved, this Resolution would authorize the City Manager to extend the City's contract with TechColumbus and continue its commitment for ongoing funding to support the region's Entrepreneurial Signature Program (ESP), now called "TechStart." Background To date, the City of Dublin has invested $750,000 ($250,000 per year for three years, 2007 -2009) of its original commitment. In conjunction with this commitment, the City of Dublin and TechColumbus executed an Agreement for services supportive to new technology and business creation. In 2009, the City of Dublin committed an additional $150,000 ($50,000 in 2009, 2010 and 2011) towards the region's TechStart programs. Council may recall that ESP funds are made available through a grant from the Ohio Department of Development's Third Frontier program (ODOD) to regional agencies such as TechColumbus. In May 2010, Ohio voters overwhelmingly renewed the Third Frontier grant program. TechColumbus is in the process of seeking financial commitments from the region's corporations, governments, institutions and Ohio Tech Angel Fund to seek matching ESP funds from ODOD /Third Frontier for 2011 and 2012. Per the attached letter from TechColumbus, they are "developing a framework for the next generation of the Central Ohio ESP with the goal of reaching more companies, generating more jobs and nurturing our current portfolio of companies to maturity. The State of Ohio has increased the level of funding for these initiatives but has also raised the local match requirement from 50 cents of local match per dollar of State tyrant to $1 of local match per dollar of State grant To keep pace and expand our regional efforts, TechColumbus must be able to raise additional matching dollars from the community." According to Dr. Stephen Buser, Professor Emeritus of Finance at OSU, Dublin's $900,000 investment in ESP has resulted in $2.6 million of investment from ESP, and those companies have raised an additional $9.517 million of other capital. Dr. Buser also concluded that funded companies have generated a 5% direct return to Dublin in the form of payroll tax receipts (see attached letter). TechColumbus has asked the City of Dublin to consider a commitment of $500,000 per year for five years beginning in FY2011. Business creation is one of several key economic development strategies employed by the City of Dublin. As Council is aware, the City's efforts and results to date regarding business creation have Res. 49 -10 — TechColumbus Agreement October 7, 2010 Page 2 surpassed our expectations. The centerpiece of this effort is the Dublin Entrepreneurial Center (DEC), its programs, associated activities and companies located in and interacting with the DEC. Attached is a Dublin TechStart Update provided by Rick Coplin of TechColumbus. Mr. Coplin maintains an office at the DEC and is engaged in TechStart activities in and around Dublin as a result of our 2007 Agreement with TechColumbus. Council is generally aware of the great successes the City has had at the DEC. The DEC is an award - winning place and program. On Tuesday, September 28, 2010, the City of Dublin received an award from the International Economic Development Council naming the DEC best in entrepreneurship. This is the first national award the DEC has received. In 2009, the DEC was named by the Ohio Economic Development Association as the "best innovation in Ohio economic development ". Internationally, the DEC has been cited by the Intelligent Community Forum as a forward thinking concept among communities - globally. Such awards and recognition validate that the City /DEC are on the right path and are cutting edge when it comes to new company creation efforts. The City of Dublin could not have achieved such distinction and would not be experiencing such success with new and evolving companies at the DEC and elsewhere in Dublin without great partners such as TechColumbus and the ESP program. Staff desires to extend the existing Agreement with TechColumbus for two years (2011 and 2012) and extend its financial commitment to the ESP /TechStart program. TechColumbus services will continue to include: • Providing one experienced staff member focused on Dublin (more staffing will be provided if deal flow is significant) and housed at TechColumbus expense at the DEC. • Facilitate and promote networks among entrepreneurial/technology start-ups. • Assess the potential and legitimacy of start-up companies /ideas. • Market and communicate to promote services and funding. • Provide access to funding/capital (Tech Angel, VC, ESP funds & Small Business Loans). • Provide access to "entrepreneur(s) -in- residence." • Provide access to entrepreneurial training. • Provide and support training programs in Dublin. • Generate "deal flow" as a result of the resources and activities listed above. Staff recommends Council commit to TechColumbus $200,000 in 2011 ($50,000 previous commitment and $150,000 new commitment) and $200,000 in 2012. This commitment will support the City's new business creation efforts and support the region's overall effort to obtain funding from ODOD /Third Frontier program. TechColumbus is actively seeking commitments from other local governments throughout Central Ohio. As a result of Dublin's leadership, TechColumbus now has an example of how local government business creation efforts, partnership with TechColumbus and the Third Frontier program can deliver results. Recommendation Staff recommends Council approval of Resolution 49 -10, authorizing the City Manager to extend the City's existing Agreement with TechColumbus and provide $200,000 per year for the years 2011 and 2012. Staff will include the $200,000 in the 2011 operating budget, which Council will be reviewing in the coming weeks. However, TechColumbus must submit its application on behalf of the region by the end of October and is seeking Dublin's commitment. Please address any questions to Dana McDaniel. September 15, 20 110 M r. Dana McDa1r11ieC Deputy City Manager, Development, Transportation and Utilities 5800 Shier -REngs Road DubHn, Ohio 43026-1236 RE© C R'V of EEIbHn Zcon®mak Empz d of the Cent j °nll Chl*o IEEtrr epic eneui E'2R 1pirog tm RequUe 'qt fair confir ued SUPP®rr°tt Dear Mr. McDam ie1 Four yearns ago, the Cky of Dublin steppt -,d forward to support TechCo lumbus successful bid - t® crcattiv the Central Ohio Entrepreneurial Slgnatu�e Program (ESP). Joining with 181oca11 goveminentts, corporations, and instkuti®ns and the Oho Te(I -I Anne <s, Dublin's support helpe d TecchColumbus raise $7.5 rniflion iln locca� matching doHars to secure $ � 5 mi11 ion from the State of Ohio's ThD*rd lFronlier l nitlati ved TecchWumbus I<aunched the combined $22.5 miNion cenlra� Ohio ESP in 2007 and has sIlnce secured over $20 m i l ion hii additional investment from pubHc and pr i vate sourclesa The success of the Central Ohio ESP ("'TechSta:rf') has far exceeded expectations, resulting in new com panEes,, new jobs and a growing return ®n 11nvesttment to the State and ouir partners, and uding the City of Dublin. In May, Ohl *® voters approved a b0oll issue authorizing a $700 million expansion of Ohio's Third Frontier with 62% of the vote, and �n FirankHn County by a rema °kab e 72% of tie v®tt . This expi°ess�'®n of strong local support undei°scores the *lmpaci of the Third Frontier eneQ°aIl y, and the growing grassi°®ots entrepreneurRW movement ]in DubHn that has been fl°uee ed by the TechStartt Il rogi= and ®then re. <atted .Dublin Ilnifiati'veso As we look ahead t® the next phase of TccchSttarl, we recognii.ze the Haul t® communicate the program's return on 11nvestmmcnt t® our key stakcclh W -..mso Sin(�e• February 2007, DubHn has rout ;steel (ccomm itle ) $900,000 in matching funds lln the Central Ohio ESP, and the iretu n to the clit izeyls of DubHn has been rcmamll aNe, as Mdicated by the fo llowing data: lln order to better understand the fina='a] return of the TechStazrt Program to our puN is sector partners, TechcColumbus retained tiro Stephen Buser, Professor Emeritus of Finance at OSU, to conduct a impact study for the City of Dublin, vvht'ch 'is attached for your review. Based on the $900,030 investment by IC ubHn tc date, the program has directly provided $2.6 million of i nvestments to Dublin -based companics (a 2a911XI leverage) and those companies have raised another $9.6D7 rniHion of other capital (a 10.7X )leverage;). IFinaHy, the study shows that the assisted and funded companies, through payroll tax, receipts, are generating a. 5% direct return for the City of Dublin, even though the program is stHI In its ealrHest stages, As we imolement the next generation of TechStart., TcchCCoDumb as and Dublin will continue our unique partnership to bring more high tech jobsand growth to Da. Mn. As the deaf flow continues to increase, we can anticipate a hDgher Deve� of events and trainDng classes at the DEC and ellsewhen in DubHn. The TechStart program wIlllll a(so continue to support the SBDCC, the provi*&,r of many cf these c Durscs. The continuation of the program will continue to support DuMn's economic deveDopment and work force devellolprnent efforts), expansion into the remainder of the, DEC, and leverage the joint rellationslariip among Dublin, 0 and TechCollumbusa As building the entrelpreneuriall ecosystem also includes non tecchnoDcgy startups, and entrelpreneur iall education, Tech Start wiH continue to support the Dublin Apprentice program and the SBDC, which 1providcs startup consulting for non -f . com panaes. TechCoium bus 1s now de vellolping a framework 1 �r the next generata ®n ®f the Central Ohio ESP wRth the goa.11 of reaching more ccompam.Des, generatRng; more jobs and nurturing our current portfolio of companies to maturity. The State of Ohio has increased the Dever of Funding for these initiatives but has also ra ised the local match requii - e ment °obi 50 cents of local match per dollar o State b to 0 91 ® {{�� lo . m Q ochpe n dollar o State r��_a To ke..ep pace and expa our regional efforts, II TC�?O �{hl /f - e't. II n n M^I'1 IV1 n R IYb n�iY� A 1 d1 S Iii AT d'l1 �1 t4. 4�15� s4 aS� r1 .lr lA .ry 4T Ali e"� n {�n .rl. nos. a�. � rvtirn irn,r.ry I'm n rv[. oT- � rT II es ,w.ra iF nv,r'c. �v[M1 t�IVl1 .T vt� ,s1. nt�Ai e1.[�.�[� n n.ve� e�sr o ytSbillll�.«y1llUlllllI11L1�1�.11� llllllUbL U(Z dI UUU L U aillllbQ�;Z 0IUURLRUHaJ llii al(L ;UUM8 UURfaR-`j HUM MU UU)1111llLlllUMLY. TechCollumbus, as the head of the Centrall Ohio effort, is seelkling to obtain match commitments T - ors our existing and future ESP partners and stakeholders based on a five year hoflzon. This Monger tern plan w .H allow the communRy to he more competitive in the State grant process,, and provide predo ctabillity for our partners. Based on the extraordinary resu is obtained durLng the first three years of the TechStart program I n Dubtin, we request the city consider a commitment of $500,000 per year for the fve years heginn'ng in IFY2311. This investment will help ensure the continuation of the TechStart program �n DuNin, which wiH bring even more high paying f:echnollogy jobs to our community. Thank you for your continued support and consideration. Slncere� Ted Ford Prcsdent/CEO Attachment: DT. Steve Buser Letter to Ted Ford, DuNin Events Dublin Events B L I I9- Mar -00 Dubli DEC Open Hou (Rock Co lon) DfEC�DuN 26- Mar -00 D Jell Rick Do lin DEC[Oubi I 3 -M( -09 Dublin /Muirfield Mer Muirfieid C 1 3 - AUg - 09 Ideas to Deals Rick Cepf in with 3"'BDC DfEC IDubl 21 Oct - 09 Ideas to Deals Dick, Co in with "::) -- D[ECIDu i 28 0c -t - 09 Ideas to Deals R ,.k CO with IS BDQ DECD /DuU 19-Nov-09 When to Jump Worksho p at the DEC DISC /Dub[ 20 Nov - 09 Dublin Br e akfa st with Card CoHe1ta, CEO of CEOs for Cities Rack Co lin Dublin 20 V 0 TAL 11 -FE b -I 0 Dud'lln Entrepreneurial t®L lr Dublin I S- MW -1 0 Dubiin [ Enure reneuroa0 Center tOUr DuNin 23- Mvvl.ar -10 Dublin Civic Mentors PFog Dublin r-10 DEC JeHy ® D EC /Dub[ r - 22 -A !r -•I0 D In C lamber after Ho DE Recepflon I DECIDUN DLECI "Dubi D EC One Year Annivers y Cek2. - 29-Jun-10 Met woth John Boas wOth ( :)No IWes�yn to discuss the DEC DECIDubl 13 - Jul -1 0 TNrd Frontie Grant Wring Seminar Frandnl D -4 -Jun-10 viemoria0 Tournaments M uirfleldll 13 -Jukl0 Dublin Apprentice DEC /Dubl 27 -JuM ® DubHn A �renfte DfEC/Dubf 29 -Jul -10 Dublin Applrentoce DEC IDubl 30- Jul -10 Dublin Apprentice Open Mouse DfEC /Dubl 2 0-Sep-10 Dublin Premier Event- Cheryl Herbert I DEC /Dubi 2010 7COV AL __ September 113, 20 110 Ted Ford President & CEO TechColumbus 1275 Kinnear Road C o lumbus Ohio, 43212 Dear Mr. Ford: You have engag�,-d1 me as an independent consu.>ltanto My Parma assig=ent is to review met hodl®llogR*es for the collection and evaluation of data for assessments ®f the econom .c impact for vaHous fors ®f entrepreneurial support activities that T .C®.l�.m has provided, and continues to prov'de ���° lb��inesses �� various geographic areas i centr(al Ohio. This 'is may initial report for the portion of my inwstigation that addresses the isq.; .e of the tax-based rat um for the City ty of DuNin, Ohio As R amp sure you are awar�-, lit can be difficult to properly evaluate the perfomianc e of Rn organization, such as Tee hC olumbus, which plays a var - 'ale ty of roles within an overall program for regional economic d evee oprr ent. I very. Wit= the issue of econornic inipact is focused morp, narrowly on the issue of the a.m outnt ®f tax, revenue generated in relation t® public investment, the issue of performance cari be complicated. For example, an organization such as TtchCollumbus might routinely provide effective and essentia. assistance to a variety ®f young companies that uftimatte ly become successful. Yet tax rt - wen es are typically not generated at aH, let done enk�,-ratedl at significant levels, during early stages of econom c development. Accordingly, at any pailicullar point in fim e, the Revell of tax revenues generated) by companies that a given supporting organization has vi®rked with is highly sensitive t® the d evee opraenta.l< rn�x of those companicso Additional complications arise when the study 's focused on a. relatively small) geogm� hic area, such as DubHn, which R's part of a larger rrietr opolitan area. For example, as s rr2ari.�c�dl ��II��, hC Tec olum1bus has already had a. significant impact on inr ...ome tax r(Ivenues generated) by payroll of new busi essinl. that arZ located wIlhin the formal boundaries of Dublin. However, Tec hCol embus has cake® had a sub - tantial impact on business development in areas within a reasonable commuting distance from Dublin. Accordingly, it is not unreasonable to assume that in addition t® pay growth within fts f D)rmal boundaries the City of Dulbhn Rs also benefiting from business development in adjacent areas to the extent that such now workers clhcose t® Alva �'n and/o to support r2. sales within the formal boundaries of Dublin. Unfortunately, as is typically the case, it is difficult to estimate the magnitude ®f such a bone-fits. As a result, 'n this r_port I am only able t® provide a eery rough indication of the additional tax :revenue the City of Dub11>ln 'is receiving by virtue of broader efforts by TechColumbuso D(,;spine such grra.lnfica6ons, and dc.spi_fte the. potential for legitimate differe of opinion regarding interpretations of data on regional economic impact, as discussed below it would nevertheless appear to be the case ttiat that tax -based return is already significant in lunation t.o funds the city has invested through TechColumbuso it also appears that th�lre is realistic hope for signifi grovdh in the tax -based ra te of return on the in7�estrnent by the City or Dublin,, With respect to the amount or such investment in support or TechColt mbus initiatives, it is .my understanding that the City of Dublin has committed resources in the amount of $900 of which $950,000 has been provided to date. It is also my understanding that ` c chColumbus has developed resources from others sources in order to leverage the public investment by Dublin in order to provide grants to 3 2 companies that are located in the City of Dublin in a combined amount greater than $2.6 million, or roughly three tines the public funding provided by Dublin. lin. In addition, Teclh Columbus has prowidcd various forms or support to assist t: e 12 I,)ublin fused companies raise capital in excess of $9.6 million, or more than I I tknes the amount of public investment by the City of 1I ubilno W ith respect to tax revenues that Dublm_ currently earns on its mvesttrnent, one Most recently completed surveys indicate that despite the relatively brief time span for development efforts to date, the combined annual payroll of the 12 r ubRin- lased companies has already reached a le , .vel of IS2.2 million. Based on an income tax rate ofd 25®, the current level ofpaymil 1s prodcirig $44,000 in annual income tax revenue for th( City of Dublin. While this amount off° - tax revenue may seem relatively modest, it corresponds to an annual rate of' re - turn. in excess of 5% on the investment of public funds by DubHna I have not yet had the opportunity -to formally evaluate either: a) the developmental ml_x of the 4 businesses, or h) the current trend irn tax revenues. Nevertheless, based on considerations noted below, it is my opinion that it is reasonable to assume that the m( asur°e of tax -based return for Dublin will reach more impn°essive ]levels in the reiativeiy near future .ro _ t h e o 11 ^ . In o 11 I - Tr . 11 Yl I to support of the potential for grow to in tax- based return, � note mat ciuring a crrttiew period of development for the companies :relevant for this r°epOR1 the US economy suffered its most severe recession in decades. The subsequent economic recovery has been modest at best. During such difficuf t economic times, it is typically the case that new ccornptanies tend to struggle even more than seasoned companies. In particuRar, the fa: hire rate is greater for new companies during recessions, and even for new cornpanie�, that ultimately succeed, the path of development it typically longer and more difficult during difficult economic times such as the US has endured for the past several years. Given the general context of ° the US economy, R regard it as especially significant that or:.ly 7 of the 12 companies - that have recelVed assistance from `ICechColumb s have been able to progress to a point where. they are ,generating any revenue at all© Moreover, 2 companies account for more than 90% of - the combined payroll for all 12 of the Dublin- b used companies. Accordingly, if even I or 2 of the re.maining companies manage t® suc cecd at a level anywhere close tG the bevel of whatt are currently the top 2 pt rrfo niin companies, the impact ®n payroll growth and related measures of economic development would be substantial As additional perspective for the general issue of tax -based return, I note that the estimate of 5% for the current annual value of the tai based return is Emitted to what ec on ®mist <,, rc , fer to as the "direct effect" of the investment m r e ionat economic development. `IC he . term, direct affect,, refers to econ®mIe performance that 's generated by the subject businesses themselves. In addition t® direcl effbets, economists fi°equcntly estimate additional effects that are termed, "indirect effects" and "induced effects",, respect�velyo The term, indirect effect, refers to additional economic benefit that's generated t® the ex,.tent that assisted companies purchase parts, supplies and/or services from other businesses that also operate within the region. I� or example, if any Dublin - based company that `IC°echColumbus has assisted purchases services from a vendor that happens to be located 'n Dublin, then any required incre4ase in payroll f®ir the company pany providin�-; the service will generate additional income tax for the Dublin. The tc rni Rnduc(t�d effect, refers to purchases ®f additional goods and services by tiiLployees who earn wages at either the direct or indirect, stages of economic (113 e.nto In studies ®f regional economic development that are more comprehensive than my current assignment, acono =sts often conclude that the sung ®f :indircecc t and induced benefit of a given I orna, such as tax revonues, is ttypicaHy as Marge, if n ®t larger, than the direct effect. Accordingly, a comprehensive measure ®f tax - based re um could be twice as larger, ®r even larger, than the conservadve value of 5% reportte& above. Yet even if one were to assign zero we. - light to the potential for lndLrectt ci induc �d beneflts It is may opinion a to — br-Mc d return of 5% is a promising indlcatlon of pottentiahy stronger performance by var tue of: a) the relative age of the companies Rm.volved, and b) the current condition of the US economy. y. In closing I note that the program is still in its early stages, and I hope to be able to supplement this preliminary report In the near firLure as more c ®mrnpames are funded by TechColum bus and as some of the existing companies t® develop. Report Submitted by, Stlyphen A. Buser ]Professor EmeHtus at The Ohio State UniversIlt), ial_� E777 SC=) (Q� G� �J Q %'IV LM 0) E E (A- 7ZZr" TECHC" B US1 ACCELERATWG' THE OF TECHNOLOGY Throu June 2ni0: The Cot of Dubl n has onvested $7509000 n the TachCo0umbus partnersNp. Compar6es in DuMn have bellnefitted throu TechCoaumbuz.-) Investriments (RCF5 TechGenesos, et((-..) $2,918,506 Investment (0 -TA F, &de CaTs and Other) 8 , 9 872 929 Other Grant or Debt Fnancon (Inch. GOLF)- 1 9 910 7 00® Sales Reve nU EI.S' 38557 70W $17 Est"Mated tax revenw-.l.S;.- $1631048 (Based on job creed n and p& data at 2% Income tax rate) i4 The DuMn TechCo�ui'-nbus partnersNp continues to produce resuOts ® BE)' DuMun lb,�aasd zampan'ms are currert0 en wpth or hav(s rec=2'0Wed assostance throu TechColumbus. ActoveD en cornpanoes represent 37 fuH �ohamoth an aw(wn. g e azD&T (Df $59,703. 2010 Hi to date. • One compan receoved foHow on ONo Tech Al Fund 11 onvestment $100000 p0us the compan rece'Wed $150,000 onvestrnent -from TachCo0umbus' Co-onvestment Fund on top of $850,000 pr8V"K)USJ from TechCo[jmbus and OTAF sources. * One receove�d comm'Itment for fun6n for up to $500,000 from TechCo�umbus' Pre Seed Fund H. * One compan g raduated from TechCo0umbus' 14N'Met pro and os be to seH prod uct/servk,-les bcaH and natbnafl and ha(.,:-P rl"=_'cent� moved onto the Dubfin Entrepreneuroa� D.--aniter. Table of CoMeMs Dublin En�irspFsneurW Canters Pa 3 - 6 The Dublin Apprentoca Pa 5 DuIbHn Cen�eir Tenant Companies Pa 6 = 12 Media Covera of the Bubfln - YachCoiurnbus Partnership F a I g 8�,) 13 5 Appends An Mu ed as Covera of the DubNn ApprenUce Event Al�endee List Pa Is - 24 AppendoK B: Dubfln Entrepreneuftr Center Annoversar Attendees Dub in TechQ�L&�I Overview -- Jul 2009 Pa 0 2 [Oulbflu'n Entrepreneurial Center The place where ideas, innovation and business thrive The City of DubHn and TechCo�umbus entered into an agrEh.8ment for entrepreneuriaU ass stance on Augus�r of 2007. Sonde that time, the City has 'Mested $750,00)0 'in the par nersh'O and this has resdted on direct investment, grant assistance and increased S--;apes for Dublin based companies in the amount of $17,250,296 through Jane of 2010. 0n addition, with TechCo9umbus personneG stationed on [iDubHn, 68 companies have received coaching and mentoring ��eu'vuoes and business plan assistance and other servicez to he0p them grow their businesses. T eohC�o�umbus assistance can to dl reot�y tfraCed to an onorea. >e of 37 jobs with average salaries of $59,703. The most vosiUe aspect of the DubHn- TechC oa um us re0ationshup is the DubHn EntrepreuReuria� c] " .'ei Ater, �ooated on the center of DubHn's �nnovatoon Corridor. The Dublin [Entrepreneu ria0 Center (The DEC) entered its sophomore year with an Api 2010 open house oeDebrat'Mg the first arn� versary of operations ApproAmate�y 400 attended. �n the span of just a year and 'into the summeF, T�;e DEC lS becoming the center of entrepreneuroa activity " in the City of Dublin and surroun6ng communities. There are approxumate�y 20 events each month at The DIES: representing a cross section of entreprenea.urua0 tray ring ant 0oHabcoratoon. The DECD Team works to identify and engcag : subject matter experts to provide a broad range of 'Mformatocn entrep� eneurs need to be suooessfuL Each month, The DEC hog ds cc-wA o.rhing "JsHy" daa� s where entrepreneurs are encouraged to work, network and collaborate at The DEC. These o3c ur on the 2 and 3rd Thursday of each month and indu le an array of training classes such as business tax �awv, .using Microsoft Out�cok effect'Mily, marketing and sees effectiveness, motivation, horinglfuring emp[,) E -es etc. cede a month, The DEC offers free DegaO oonsuOtatoons pra)vo(�ed by a 0ocaa lawyer and fi - ee p ubHc relations oonsdfing. The JeOHe,) type ca Hy drav/v 30 or rnore ondi\\ oduaa s, at feast ha0f of whom are not tenants. The DubHn BW3s restaurant provides 0unch at no .ost as pqq , :t of its marketing programs. The TC,chGoOumlbuz office on The DEC is regdar]y our rise for meetings with startups and entrepreneurs our coaching and mentor'ong sessions, business plan revk'llws, business p�annong and other meetings. A few companies have he0d board anal /or pDannong meetings in TechOo0umbus' offloe. The 0 usonass DD evedopmeM Center (SBDC) ho�ds offices hours every IEridc - ly on the TechCo� umbus office on the 4 floor of The DEC, meetang vv'�th two to four entrepreneurs :o discuss business 'ideas and pans, performance objectives, personne0 matters etc. Jn addition, the SBDC regu�aiiy hoods lasses at The DECD such as "Biz Starts Now", Ddeas to Dea�s s Seeing" and others, These dalsses are designed to augment oonsdtong sessions with SBDC dD ents and a - e open to anyone %/ho registers. The Amer can Mu @TksUn ssoc as oun Cen�raa oht® Chapter hoods a monthDy Socia0 Media Speoua� Dntere.st Group meet"Ing at The DEC on the first Wednc , TypicaHy 25 or more attend. Dublin Tech ,ar� &fermn'rcmaw .... oJJdl ,..°-19 Page � 3 The DEG hosted a contin of Chinese g overnment officials from Yichan V000in Asssil�s OpeiraUon Co., Ltd. (Hubei provMcep. The g roup ✓isif.ed The DEC Cis part of their trip to DuNin and vve!,e interested in Dearnin about, entre support structures for entrepreneurs and srnail business cand seein how an entrepreneuria0 center operates. It is expected that other dele w'0 visit The DEC throu 2010 and 201 The Japan-America Societ of Central Ohio (JASCO) re hobs seminars at The DEC in both En and J21panese. Dubh Tec . - —a Oviarv,"Havv, — Ju� 20®9 Pa l 4 7h This su nmer, the DEC hosted the ina�.uguural "Va N( n Apperc�n,� ce — an entrrepu^eneuu"oai camp for rniddle school.(; students initiated by the Dublin [Economic Development Department, and designed, organized and Arun by the DuNl n Recreation Department with assistance from Get -U- Connected, Social Boomerang and TEChColurnbus. For three weeks in Mealy, 24 rnid(fle s chool students met at The DEC eacli day and were immersed in networking training and activities, field trips, seminars. Each of the company visits and rnost of the p resentations had challenges 77 where the student had to help the company with solvirjg a challenge or compete among themselves in teams. ThE, student formed six teams to develop their own companies as part of - their camp experience. Teams developed concepts, business oards, marketing plans (and financial projections then presented their compar&.s at the end of the program in a "Shark Tank" experience that incl jded local DubNn and TechCol umbus entrepreneurs as judges. Teams v&fere judged on marketing, message, sales, market assessment etc. The companies included in field trips and offering business related challenges to the students incladed: An cg aawanf uirs SysNms - RenewaNe resources eels © Brand Thunder — 'investor presentations and tthink ng on your feet ID C zc embus Zoo and Safarra GaN Course - Business of ccnBervation © oC0 -- Marketing © OFEL A� y - Students attended a DEC co- working event cattended by about 60 adults tc, network, explain their business ideas and eval uate who might be helpful resources to their busihesse -. �n %Aghh T — Surviving and thriving through adversity OCLC -- Innovation and Gobalization WAo Lazar - Manufacturing • parroo Dnc . (Makers of Sarbasol slaving products) - Man u uring /marketting • oocW Boomerang — Networking, Social Media, Web guidelines, business cards etc. © 7azhCosumbus Incubator — Students toured the incubattar to learn about technology companies. © 7om Co on °a -- Sales projections and profits 0 Voe7o d Fvon� - Branding, logo design and marketing The DuNin Apprentice cWm�nated in the Shark Tank presentations and the winners were ann :) unced at the open House on Friday afternoon where the students ha1J posters and products on land to explain their c(( .)meanies and their field trip experiences. Please see. n ppandoK A (p 13 -15) for an article from Tins Weed DuN n about the campers' experiences. Dubh TechStart overview Jua y 2009 Page 0 5 dk OWN Dub Hun C Mrepreneurial Center 7snaMs The DEC.' is home to a diverse g roup of tenants runnin the g amut from no-tech to hi Several tenants have provided seminars and edjc4ational content for The DEC this y ear. The tenants are -_R ke e%; -F^e%n nc, ^; X 1 m ^ % 11 ".N r k ' -F ^ -F \\ a # k e% nn n reN A e% ; r-% e-,i �% n n n ; r� en, r- n % n n ; -� �% '-�' ') e- k) %,U U r_; 0 11 L U 0 L 0 0l= �,U 0 0 C U U 0 In L 9 V �= 9 V. �,1U0 U 0 L.-P L_ %-,,, (M L, L 0 V I L 0 �= C3 U V �—, U 0 0 Q3 � �J 0 VVI 0 U U 0 U 0 a 0 C; U U 0U 0 �,11J U U,;.:) 0 N U C; O'S VV U L Li 0 C;CzCO H other and/or providin exper��ise to help vi nth businelss challen marketin g rowth etc. Below i.$) a list of most of the curl -ent tenants. 3LF) Adwoz(ore) prcvides patent strate and transaction services for technolo driven or Con 2cL Ton Suite: 409 al7ebsKe- http-//www.31padvisors.com Emplo 1 AppHed En Solutions provides en support services specializin in product and s desi that spans concept inception to deliver of comrnefdaHzeaNe products for academic, commercial and militar Applied Un Solutions, LLC �t ®m ...... VffabsKa- http-/ivAivw.applieden Sums 405 Contact- Dave (:'A,.9za Emp�n I AvKae - VKaflt 101isMhU]n provides a new and better alternative to soft drinks and plain Mottled water: Purified water with 45 m of natural caffeine. Tastes like If purified water. av a e Goon�act: Brian anal Mefis's'a Pit,zer SuKes-. 212 - 219 WebsKe: http-./iv�.prfw.avitae45.com ErnpO n I Center for InnovaUve Fsod 7echnaQa ( CFT ) at EISC lnc., one of the State of Ohio's seven EdisonTE2111chnolo Centers, assists food and a in stren thei., compE:titiveness b developin and adaptin emer technolo and best practices. A Contact: Stephanie Smith C I F T Suite- 404 TtPabsKe: http-//www.cift.eisc.org FmpDo I DubNn Tecn6tart Gv6c_.Y — Juh, _�. Pa l 6 00airoon & AmFF ca Qorpvirat on is a Honda suppHer car of sound s audio4suai devices and navi on s' lzlrv UP � Con acts; Ed Root and Pau0 Tanneh'[ Sufi: 301 WabsKa- http-/iv�fw.c0arion.cc)in/us/en/'top.htmU Emp0a 3 G0ub Z 7u2wn offers on -home tutorin for aH subjects K-12 inc�udon ACT/SAT test prep and sfrud sklHs. *fto Tutcrin 64r*'VC9$ Contact: Mchc-:ie0 Brothers Suo s- 402 TftbsKs: http-//'w�/A\iw.ciubztutorin [Empka 1 Coo Chem MarnaVws Fms s j.s a refir in technoDo compan that produces a new hi performance g reen ffesei fuel'. EcoChern is workin with the "Dit of DuNin and DubHn Cit schooDo:3 to test and eva uate its product in a cont,,-ofled environment. The compan expects to use resu0ts of the tests to vaHdate product effectiveness and be market entr Contact: Josh Koch Suite: 208 WabsKe: N/A F=mp�o 3 aData Mu 2ppon Solutions LLC os an ED services compan providin = Mappin Trainin Production Suppoit, DmpOementaticn in Automotive, SDuppi C% Chain, Lo Healthcare and Financ,iai industries Can�act . Lakshman Sandepo, SuKe- 2000 -2 vac bzKe- http-//vmvw.edai.-amappin Em I Ewo�wad Ener SoM� onz Inc. provides ccmmercia0 customers with H and contro0 solutions to reduc�=_Ih ener use whiDe improvin the H environment. E V 0 L V F_ L Can�actz- Zack Grffin and Adam Partee SuKes- 207 & 2 2 % U[YebsKs- http-/,Ivn/liw.evoivedF:,s.com FmpQo 2 DuNn Tech&art o %n rv'uew — Jud 20®9 Pa 0 7 Gsf-U-Cannac�p,((,] is a compan speciaNzin in connectin cNents to the products, services and irfluentia0 peoo0e needed for business g rowth. 400 Get-U- Contact- Chat F reute0 Connected _QvF�=- zLin WsbsKs- http-.// Emplo I GREENPa Business Director is the 09 to" pubfication for adi that is g reen in the Columbus Re incUudin "how to" artic0es and business listin GREENPa ousiness directu,�� Contact: Chat F.reute0 SuKe- 209 WebsKe.- N/A Emp c N/A �cnChamp is a compan focused on or the worOd throu e -mail sand m�zk-inn fo on fo onr�itnntzi �=rini'oe-s�f�nnc fnr %Af�nHnu§ c FRUi n h � i a 7 U U U %.4 U 1. U U UPI U %.A U U U kti.A 0 U 1`., tL U I ,(J a U %.01 U (64 & , 2a U U %,'.A kL.] W U U .W U %..a U W U 0 a U � v U ...0 U V- U "-d L'.d U U h, # . ION Contact: And Guerrera SuRe- 2C WebsRe-.: http-://www.ion,-Iham ErnpOc 1 KaNn Morah2km(:aVcoca is a tier 1 supplier for Honda of Amei-ica Manufacturin pr oddin g HVAC systems and en e such as En Contro0 rovi i weU as en manffo0ds. Units or ECU's, ass Contact- Ed Rana SuKe 302 WambsKe; http-://www.keihin.com Fmninv►p-c• A Me ra CD En LLC ic_; an eiectrica0, HVAC and p0umbin en consWtin firm with a mission statement of "En a Greener Tomorrow Tddc-�y. U9 0 engineering CoMac2, Michae0,.'.>ow &iKss: 20372041"21357206 WalbsKe: http,//metrocdengineering.com Fmp o 9 DuNin Teci&aft Overvew - JW 2009 Pa � 8 MoMsgpc dKl ons has develcped a revoMionary platform which allows, venues and brands to create media ri�.h interaQ ®tive, location - Lased experience3 for mobile devices. �E©IT 10N E Contact lvV ark GiEcinski Suft: 2012 Tfths te; http ://moLilexpeditions.coM1' Employees; 2 Mete woTk Lo&, provides "Technology As A Service" to small business canal non - profits giving them the ability to LeconlE more product"Ne, and more effi(, -.lent while allowing them to focus on their core business. .c,©uc Contest; Andrew Moon Suite* 414 Wehsete: http: / /www.networklogix.com Emp0oyaes: 3 The DNo FusQ Cant CoaJK on 'Is a un tE�d group of industry, academic, Vesearch entities and government leadErs working collectively to strengthen Ohio's fuel cell industry and to accelerate the transifoa rnation of Ohio to global leadersh, p in fuel . call technology. r CC OHIO FUEL CELL Contacts. Pat Valente and Georpne Flusna k C O A L I T I O N SuKs: 413 �r��Ic bzKe: http:// wwvAv. fuelcellcc�rridor .c /mc,lpage.do? sitePageld =105 145 Emp0oyess 2 OKoam Marlkatong 7echnoDog is an :interactive marketing agency ifocu -ing on website devek)pment, search marketinc;l campaigns and social media integration. COX iem Contacts: BiHy Fischer and Ci - vstal 01ig Sa Ke 416 WeC sKe: http : / /vnw\i.oxiem.cor.i FmpOoyees: 2 Resource 100 L7D. serves business and government and Brings an integrated systems approach to help transform waste into resources. uesouace LTD Contact Mike Long SuKe, 209 DubHn TezlchStLa, OveMeuv — JWy 2009 Flap 0 9 FRFM EnaNed cMions is a global provider of unique business solution.3 that are focused on optimizing operations, reducing expenses and improving business pi using radio frequenoV identification or RFD. ( YRESQ ) F2FMD Enabled Solutions Suite: 412 Website: http : / /www.rfidenabledsolutions.com Employees; 3 Salvato & Ass dilates specializes in assisting entrepreneurs and companies in taking ideas and products from concept to commercialization, with particular expertise in the planning, execution and analysis of startups. 0 S alvato & Associates i it ■ Con - �ac : Jack Salvato Suite: 20OF Website http G' vnAv.saly- �toandassociates.com/ Employees: 1 SocW Boomerang is an interactive agency using social media, strategy, web, technology and marketing to create and execute a branded digital presencce. *> SOCIAL BOOMFIR N Contact: Sande E anquera Suite: 418 VOebsKa http //�vviwv.sociQilbocmerang.com Employees 2 plus contr- actors Socous prcvides (. :omprehensive software solutions and seniices that help companies cornj)E.te more successfully in today's economy and leverage te&nology to accelerate their growth and profitability. Contact: Jeff Geis ;ler Suite Soo �An7sbsKe: http : /ivvn//ww.sociaisl Emp�oyaas for ..al) Spam is setting the standard for component and solar -paneP mounting systems in the green energy market. Contact: fiat PreFton Suite: 201 ebsite: http / /w�,✓w.sparkpro(luction.com/ Employees 2 ©ubDon Tech "t � � 15 v� el v �-. � q 2CO9 Page 0 1 SpaUaJ S Mud o specializes in sustainable desi and architect -We for commercial and residentiaI projects. SPA-MAL SYN6R CcMact- Meera Parthasarath St Ka- 2®3 WshsKs- N/A Empaa I 710 Ensir Mv ana Solutions �s an ener and li consuffin compan with manufacturer connections to provide aftrdabIe ener savin solutions for a variet of c0ients3inc0udlln federaO, state and rni Ftar inst(-Ciflat'bns. Contac s- Geor Te and David Dou 7 SuKs- 202 NM bs'ute-. http-.//td-ems.com/ Emplo 4 7schCa�umbus runs a vvodd-cIass technoDo business incubator and ,/,'\\forks with entrepreneurs and investors to develop and Daunch technoIo stmt -up companies, asvve] as g row y oun g co, -npanies that %viH provide the jobs of tomorrow. r ( T0 1)) CMC0LU1, _ ')S Contact: Rick CopIin Suite-. 411 Websft- http-//www.techcoiu�-r�bus.or Emplo 1 (in DubHn) 7ampss Nee woFkJn LLC specializes in criticaI technoIo assessment and desi Our architects are sub matter experts with broad undustr experience in the areas of network 'Mfrastructure, virtuaIization , and IT securit Contact: In F eids SuKs- 224 WNslbsft- http-.1/wv\\fw.tempestrietworkin Emp0o 4 The Lam Office of ST M. G`MffKh� U-C assists entrepreneurs in aH .(,:-)I,a of business, from an idea, and pIannin throu startup, maturit and saI a-. or as y our compan outside g ener'aI coun�_13E�I- Contact-. Br M. Griffith, J.D. Su ft. 4C-1 Websj2e: http- / /bryan /xzcgd Emplo 1 Dublin Tack tart Overw'enAv — h Pi 2009 Pa 0 I I The Ufa Writer captures, records and documents an individuan's Hfe storif experience usin the patented The Life Writer ( TM ) ffe writin and recordin S" .1 stem. Contact- Marc DEVincent. suft. 4®3 WabsKe- http-/,Im,,,vw.theDi-.-ewrii.er.com Em& 2 7 ppin Point RenewaNa [EnsT provides a set of so0ar and efficienc technob to meet aH (-,.ustomer needs re of size or industr sector. t a m 7 ?PING POINT Contacts- Eric Zimmer and Darin Hadin Suite- 222 TYebsite: http"//www.tipener Emplo 2 TOTAI qIFJ/li R M AA '�(cz q nnn�,-� dfinn r-nmnPn%i of fh �H rlvnpm�ncz PvnPrIcz cznpn"� n Pfi71n A U U U W U �U U a U U U [ ,e 16N U U U U U � a %Wj %.Aj j U U Oyu U U U U n %..dl %.' ff B t6 .a ..a V a \�.o \".W U %W4 U 0 If;.— u u U w in Automotive and Motor Racin Aerod as weH as spedaHzin in support and trainin in the use of the open source CF® code OpenFOAM. T07AL SO C'l Contact- Ra Leto Suite- 415 T\Sebsite" Empl 4 W�wod Front is an inte di a proddin websites, interactive marketin brandin and strate ,� VIVID FRONT Contact- Andrew Spott SuKre.- 4®6 WebsKe- htto-h VAJAW. V i v i d fro n t. co m U Emplo 4 DubNn TechjL'a� I &v j Aew — JW 2009 Pa 0 12