Incubator Centers for Economic Development – New Business Model

Over the past few months, I’ve been working with a small team to find the perfect solution to create jobs, economic development, and keep America on the cutting edge of future technologies. We, or should I say, wrote a quick business plan and gave it to our team to discuss. The incubation center would have multiple spaces for garage-style innovators and local inventors within a large industrial building or aircraft hangar.

An interesting question that came up was; “If you lease facilities, what kind of businesses would be allowed?” The answer is mostly clean tech, since they are more likely to get funding. Each would be evaluated, some obviously not possible, such as those requiring clean rooms, although Phase V would have such a possible system based on the same basic plan; much more expensive. I’m not interested in Hazmat type things due to the dangers to other participants, although that might be possible for a future Phase V which could include; Nanotechnology, military, etc. program.

Another point was made for a target market; “In a big city that would be attractive as its headquarters,
housed under one roof”, and I said: Yes, precisely. A population of 250,000 or more would be a target, I could also draw from the surrounding areas.

Now, we know that everyone likes alternative energy and energy efficient buildings, so someone on the team asked me this question; “As for real estate, would you build or rent a suitable building?” The original unit would be leased and we would recommend leasing. Save money. But, if a city wanted to go all-in, they could, and that would lead to jobs, LEED buildings, etc. He knows the grand opening, the name of the building, all the public relations and photos. Obama-style.

Next, they asked me; “Innovators, people who look at things differently and find a new or better way of doing things: where do they fit in?” “Garage units” or simulated squares may have only a computer, CADCAM, architectural model, etc., drawings, plans, etc. They would have the environment to stimulate their creative thinking, they would be fine in this program. I expect that for 1/3 of the people.

Besides; the local “Think Tank” would meet in the upper loft break room, proposing ideas, concepts, innovations, new ideas, etc. I’ll probably plant olive trees around the building.

One question was quite interesting about this project; “What kind of people for this area? Do they come together to do what? A certain project or look at the big picture and figure out ways to improve or simplify the model. I’m not sure I fully understand it.” Okay, realize that it’s not just about the space involved, it’s about everything; Innovation Center. It’s the place for all innovators, thinkers, inventors, doers. For all those who are thinkers and want to participate, a meeting place.

Another think tank said something very interesting, an observation; “Universities – sponsor courses in certain areas like entrepreneurship, it would be interesting to run a business model like franchising in a course to teach people how to set it up, what to do, etc.” Well, the director was giving speeches at universities, around the city, really promoting innovation, explaining the program, what they were doing. Interestingly, our local universities have these types of programs.

Here is another point that was raised during the last meeting of minds; “I can see so many spin-off industries that would benefit a lot from this, as a lot of companies have very heavy management.” That’s a good point, actually, and keep in mind that the program would work because of the synergies and behind-the-scenes deals to bring these innovations to market, bought by corporate America, funded by angels, or maybe even venture capitalists. risk. Owning 2% of 4 decent projects a year makes up for the ones that fail. And yes, there will be failures, but knowing and accepting it up front makes it easier, and if those failing inventors reinvent themselves, they can try again or tweak what they have. Yes, the “Spin-Offs” are going to be amazing and will affect EVERY sector of the industry and as the money and capital flows in, so will all the small businesses in the area and the suppliers to all these startups.

One member stated; “Another consideration is whether this would reach all of North America eventually and then to other parts of the world with a central location with just satellites in other countries. I can see how this would “shake up” some governments and other companies.” It very well could in the future, yes indeed this would revolutionize innovation forever. There would be copy companies too. But if innovation is your goal, everyone wins. “Diplomacy is the art of letting other people have their way!”

Regarding economic development, a person from the team pointed out; “Such a lot of expandability and richness and it just occurred to me. In fact, you could have multiple franchises running off the same model but specializing in different areas, I’m not sure if that’s going to work.” Yes I agree. This is how my mind thinks too. Industry associations would love it too. Trade magazines would be everywhere like flies on shit. It would be like a tornado once it got going.

One of the more inclined Internet entrepreneurs in the group asked; “What about an affiliate model that has the product and then has others sell or trade their product while giving them a cut of the profit?” I guess in that sense, you would do whatever works. Any businessman could use any distribution method he wanted. And another comment from her was; “My understanding of a franchise model is that each location should have the same product, the same quality, not a lot of freedom in the way it’s run, am I correct in assuming this?

Generally speaking, but if your product provides “Innovation” then the type of innovation that was provided wouldn’t matter, some franchisees might want to take a hint from China’s cluster city concept and only have innovations for automotive, aerospace, Material sciences, green technology, etc. therefore, they would not be directly competing with each other, but rather working together in a network-centric way. Anyway, yes, I think you’re right.

A question about the franchise model was fascinating; “A type of franchise model, ie McDonald’s, Tim Horton’s, etc… two of the most successful. As it’s a service industry, being in a high traffic area is important, I understand, do you think it doesn’t would be that important?” Well, not unless the franchisee is a city, economic development association, or university. It might as well be in an old hangar on a closed military base, or in an industrial area of ​​a corporate campus somewhere in the back. Once inside, it would be a playground for innovators. Imagine the creative flow.

Several people in the group noticed that; “Once the word gets out, people will be drawn to what you offer and will come to you. Is this what you imagine will happen?” Yes, and it would be important not to sell the franchises until the bugs have been fixed. And there will be challenges and mistakes (read: opportunities) to learn through trial and error, that’s fine.

Please consider all this.