LANSING ECONOMIC AREA PARTNERSHIP

(LEAP)MAY 29, 2014 TOUR OF REGIONAL INCUBATION NETWORK

(TouRIN)

Tour of Greater Lansing Regional Incubation Network

Many thanks to Bob Tresize and his staff at LEAP for inviting me and perhaps 50 other people from the Greater Lansing area to participate in the May 29, 2014 tour of the Greater Lansing Regional Incubation Network!

We all enjoyed it greatly, and learned a lot. One thing is very clear – LEAP is aggressively exploring many ways to make sure that the Greater Lansing area competes effectively for every economic development opportunity and explores every way to assist with business development!

Acknowledgement

Much of the information included in this slide presentation was taken from publications of LEAP, or from information provided by LEAP and RIN staff during the bus tour held on May 29, 2014.

I apologize for any errors in information I made incorporating that information.

The pictures taken during the tour were taken with a cell phone camera, and I regret any poor quality images. LEAP staff were taking pictures during the tour, and I am sure they will share better quality pictures with the public in the near future.

Did you know Lansing has an Incubation Network?

Incubator…

When the LEAP staff sent out their invitation to me and other members of our community to go on an “incubator” field trip or tour in the region, I did not know what to expect…

I grew up in an age when an incubator was used for helping with the growth and development of newly hatched chickens and premature human babies…

I was surprised to find out that in the years since I was in graduate business school and involved in basic economic development work with the old Lansing Economic Development Corporation the concept of an “incubator” for new business had developed. I was only very vaguely aware that there were some such “incubators” existing here in mid-Michigan! And my view of what those incubators might be like before this tour was significantly different from what I saw and learned on the tour.

Definition of “Incubator”

1. (Medicine) med an enclosed transparent boxlike apparatus for housing prematurely born babies under optimum conditions until they are strong enough to survive in the normal environment2. (Biology) a container kept at a constant temperature in which birds' eggs can be artificially hatched or bacterial cultures grown3. a person, animal, or thing that incubates

4. (Commerce) a commercial property, divided into small work units, which provides equipment and support to new businesses

Collins English Dictionary – Complete and Unabridged © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003

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Incubation programs provide entrepreneurs with curriculum, mentorship, and networking opportunities while also helping to foster an ecosystem that is conducive to business growth, while lowering initial overhead costs…

Incubators allow entrepreneurs to share sophisticated resources within a learning environment by interacting with others in their commercial sector.

Definition of a Commercial Incubator and other background information in this presentation is provided by LEAP in their publication on Regional Incubation Network. Additional information available from Quin D. Stinchfield, Business Incubation Manager, LEAP (email quin@purelansing.com)

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Aside from reasonably priced office space, other incubator resource offerings include: Professional Mentors; Entrepreneurial and Collaborative Environment; Networking Events; Licensed Software; Modern Facility Amenities; state of the art conference rooms…

Incubators provide the benefits of collaboration, cost and equipment sharing, and even expertise and consulting sharing for new and exploratory business ventures.

Helping New Businesses take root and develop and grow in a safer, more nurturing environment!

What is the RIN?

The Regional Incubation Network (RIN) is a network of business incubators that are able to connect and coordinate a wider range of community and regional expertise and resources, share specialized services and training, and create operational savings compared with stand-alone incubators.

RIN Leverages Multiple Incubators and Offers a Wide Range of Advantages…

• Advantages include:

• Sharing Solutions and Best Practices

• Cohesive management across the Network

• Public Relations, Marketing and Unified Branding

• Growing Economically Depressed Areas

• Being Part of a Greater Regional Economic Plan

• Economies of Scale

• Referrals and Training

Existing Business Incubators in RIN Include:

• Technolgoy Innovation Center

• The “Hatch”

• The “Runway” (Scheduled to open August 2014)

• Allen Market Place

• Incu-Bake

• The MARC

• NEO Center

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The goal of the RIN is to support and streamline incubation efforts by harnessing entrepreneurial activity and strengthening the regional entrepreneurial eco-system by promoting startup collaboration, education, and creative action.

Business incubation is an important element in economic strategies further promoting innovation and job creation in Greater Lansing. -- LEAP, www.PureLansing.com

The Tour with Pictures

The Tour Stated at the Technology Innocation Center in East Lansing (The “TIC”)

LEAP, MSU, and the Technology Innovation Center were great and patient hosts for about 50 business leaders and interested persons from the Greater Lansing area.

This Michigan Economic Development Corporation cooperative effort is a partnership between the city of East Lansing, City of Lansing, Ingham County and Michigan State University. LEAP administers the program on behalf of the region.

Waiting to get on the bus & networking

Howard with Bob Tresize, Chris SwopeMaking new friends and better friends…

Lots of Friendly, Curious PeopleNot quite knowing what to expect, networking and finding out who was there and their interests in the Regional Incubation Network

Our day tour would start and end hereUnfortunately, my phone camera died before the end of the day so I was unable to capture pictures of the Hatch

Off to the MARC

First Stop, the MARC...

In partnership with Meridian TownshipPart of Meridain Area Business Association

Provides virtual office spaceNew exploratory businesses can meet clients there, low cost rental of conference room and office equipment

Marsha Madle Facilities ManagerPhone (517) 618-1930

Email: marcmeridian@gmail.com

Then on to the Incu-Bake LLC

This Incubator trains owners in food serviceSmall business owners or prospects can come here, learn the ins and outs of restauranting or food service, get trained and qualify for Dept of Ag Food licensing

Has worked with 70 startup entrepreneursEven gets referrals from regulators regarding prospective food service professionals who need training or an environment where they can try out this type of business

We sere served our first lunch here…It had been years since I had rhubarb… I had forgotten it existed and how much I loved it as a kid… The rhubarb brownies were great and are marketed through Horrocks

Third stop - the Allen Market Place

Interesting Food Service IncubatorWas host to a number of farmers market activities and small businesses

Hosted catering businesses

A second lunch for us! Entirely different menus, the second LEAP tour bus had been there ahead of us and left plenty of food

Exploring new food options beyond farmers marketA couple of entrepreneurs had leased a small space in the building and were preparing to sell variety beers

The Runway – Incubator in Development

Under construction downtown LansingAn incubator to encourage the fashion design and manufacture business here in the Lansing area

Scheduled to open August 2014

Will contain design and also retail display spaceThe hope is to attract designers and then get fashion buyers to come to Lansing to see and order product

Will Sell Michigan designs and fashion productsWhen completed it will be the only fashion related incubator in Michigan

Fifth Stop – The Neo Center

Higher end office space for startupsContains office equipment, supplies, conference rooms, technology

Ultra modern redesign of building

Seeking innovative startup ConceptsDiscount office environment

Suitable for meeting clients and collaborating on projects

In Lansing on Center StreetSome successful semi-established businesses

Caters to new business models and stylish tenants

Tour End – Hatch and the “TIC”

Unfortunately no pictures of the Hatch or Tic due to camera exhaustion.

The Hatch is a think tank project from MSU which involves students developing business ideas and trying to make them “work” in a protected, collaborative environment.

MSU will subsidize and provide incentives for students to explore their entrepreneurial projects.

The students may have MSU patent their ideas, or allow students to develop them on their own as a part of an ownership real life business model

And yes, there was an end of tour celebration! <grin>