EEC Welcomes Uniscrap PBC

In January, the Emerging Enterprise Center(EEC) welcomed UNISCRAP PBC to the International Soft Landings Program. UNISCRAP, founded in August 2014, is a Public Benefit Corporation, headquartered in Delaware.  They currently operate in both the US and Europe. The core activities of UNISCRAP PBC focus on the Resource Management Industry and the sourcing of recyclable resources, to develop investment that creates Social, Environmental, Financial and Industrial Impact.

Panagiotis Kollas, CEO and Founder of Uniscrap, is responsible for the company strategy, leading the Business Strategy Office and the Finance Strategy Board. He establishes partnerships with other recycling corporations as well as suppliers and clients spearheading efforts for business development. Panagiotis also formulates the international partnerships roadmap for the Social and Environmental Impact that UNISCRAP PBC. is committed to.

Panagiotis, has strong experience on international business and trade by working in Greek and international organizations and by setting up startup companies in UK, US and Greece. He has a degree in Economics from University of Piraeus, Greece as well as a masters’ degree in International Business from University of Wollongong in Dubai, UAE. Panagiotis gained further insights on environmental topics when attending the Extension School of Harvard University.

Public Benefit Corporations (PBC) are relatively new. In July 2013, Governor Markell signed into law a new type of public benefit corporation. As defined in General Corporation Law (Title 8, Chapter 1 of the Delaware Code), a PBC is a for-profit corporation intended to produce a public benefit and operate in a responsible and sustainable manner. The PBC is to be managed in a manner that balances stockholders’ pecuniary interests, the best interests of those materially affected by the corporation’s conduct and the public benefit for which the PBC is formed.

PKollas_Office

According to Kollas, “In UNISCRAP we believe that the generation for public benefit is a MUST for affecting positively the sustainability of our work. We give emphasis on the Global Goals of United Nations.”  Uniscrap divides the public benefit in four (4) categories:

  • Social Impact level: UNISCRAP has developed the roadmap for working with organizations, and foundations in Delaware, in order to generate measurable impact on the sectors of education, entrepreneurism, and tapping into the cultural approach to environmental sustainability.
  • Environmental Impact level: Through their activities Uniscrap aims to affect the carbon dioxide emissions to satisfy international agreements, such as the recent Paris agreement for Climate.
  • Financial Impact level: Plans are to generate financial income from activities to guarantee the financial sustainability of the company, and to impact the community through taxes and wages for our employees. Last but not least, the profits will give emphasis to the Industrial Impact through innovation and technology generation.
  •  Industrial Impact level: Partnerships will be the emphasis for the industrial impact, through the quality of the materials being used, as well the satisfaction of the production needs of the partners. Uniscrap will work to develop the best solutions for business challenges of resource management and recycling, addressing challenges such as production infrastructures, logistics needs, quality control etc. On this front also, they will give strong emphasis on the smart innovation and technology development to multiply the effect and the sustainability of the community

Frank DeSantis, Program Director for the EEC said, “I am so pleased that we were introduced to Panagiotis Kollas and Uniscrap by Andrea Tinianow’s team at the Delaware Department of State, as part of their Global Delaware initiative. Our International Soft Landings Program is designed to help foreign companies that are looking to establish a presence in US markets. We provide support and services that allow them to open an office, learn the business culture, and make the contacts they need, while they determine where in Delaware they want to permanently locate.”

The Emerging Enterprise Center has worked with two other companies in The International Soft Landings program. One of them, originally known as Idea Italia, now operating as Delaware is Good for Business (DIGFB), brought the “Treasures and Tales of the Guardia di Finanza, Italy’s Art Recovery Team”, an interesting and interactive art exhibit, to the Grand Opera House in Wilmington in the Fall of 2014.

Uniscrap has an ambitious, global vision, that is rooted in a very practical approach, utilizing current industry resources and technology to develop relationships that will create funding and revenues that will finance future innovations and revenue streams.  Currently, Panagiotis and his team are actively pursuing a variety of partnerships and sourcing agreements. In Europe, Uniscrap has established a partnership with FCC Environment on the Sourcing of Recyclable Resources (Alternative Fuels & Materials), and  are working with the following materials: Tire scrap, Biomass (wood chip), Plastics, Metals and solid Recovery Fuel as well as Paper. At the moment they are working to supply Alternative Fuels to the Greek Cement Plants Industry.

Here in United States, UNISCRAP PBC is seeking to work with the government of Delaware, and participating on the Organics Task Force Committee, for designing and developing a solution for recovery the Organics Waste materials from the Poultry Industry and producing bi-products such as biogas, power and organic fertilizer. UNISCRAP has also established a partnership with North East Recycling Council organization.

In addition to the International Soft Landings Program, The Emerging Enterprise Center has a other incubation programs designed to assist start-up companies, including both a resident program for members who need office space, and a virtual program for members who want all of the benefits of support, access to resources and advice, without the need for space. Check it out at www.EECincubator.com. For more information, contact Frank DeSantis @ desantisf@ncccc.com.

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Comcast Business: Innovations 4 Entrepreneurs 2016 Contest!

How would you invest $30,000 in Technology?

Comcast Business: B4B is once again presenting Innovations 4 Entrepreneurs 2016 Contest!

In 2014 entreDonovan was one of the 6 National Winners!

This year it could be you!

This competition is open to Business owners that are within the Comcast Business service area and have less than 50 employees. Franchises are not eligible.

Submit your entry STARTING February 2, 2016 at CBCOMMUNITY.COMCAST.COM/I4E

Deadline: March 12, 2016

See the flyer below for more details!

Read More about the Comcast Business Innovations 4 Entrepreneurs Contest

11 Private Grants for Women & Small-Business Entrepreneurs

Private grants for women and Small-Business Entrepreneurs

Grants for women entrepreneurs and Small-Business Entrepreneurs:

  1. The Eileen Fisher Women-Owned Business Grant Program: Five grants are awarded annually. The businesses must be 100 percent women-owned and have founding principles of social consciousness, sustainability and innovation, plus be ready to move to the next phase of development. In 2014, the program awarded $125,000 in grants.
  2. Huggies Brand — Mom Inspired Grants: The grant awards up to $15,000 to advance the development of innovative products inspired by the joys of motherhood. The awardees also receive resources to further develop their products and startup businesses.
  3. FedEx Think Bigger — Small Business Grant Program: Applicants are encouraged to share their visions to receive a portion of the $75,000 awarded in grants. Part of the judging involves the general public voting for the finalists, so participants may promote their businesses while garnering votes.
  4. Idea Café Small Business Grant: The Idea Café is a free gateway that hosts different grants on its site. Its current grant is the 16th Small Business Cash Grant, which awards one $1,000 grand prize to a business with the most innovative idea.
  5. InnovateHER: 2015 Innovating for Women Business Challenge: This business challenge is sponsored by the Small Business Administration (SBA) Office of Women’s Business Ownership. The challenge awards three winners $30,000 in prize money for businesses that have an impact on the lives of women. However, be aware of the recent fraud news around the SBA.
  6. Chase Google — Mission Main Street Project: Chase and Google have partnered to award $3 million in grants. In 2014, recipients were awarded $150,000 to help take their businesses to the next level. Recipients also received a trip to Google headquarters, a Google Chromebook laptop and a $2,000 coupon toward a market research study with Google Consumer Surveys.
  7. Small Business Innovation Research(SBIR): Eleven different federal agencies participate in this awards-based program, which incentivizes and enables small businesses to explore their technological potential.
  8. Small Business Technology Transfer Program (STTR): The STTR program reserves a specific percentage of federal research and development funding to provide funding opportunities in research and development.
  9. Women Veteran Entrepreneur Corp (WVEC) Small Business Competition: This competition, organized by Capitol One and Count Me In for Women’s Economic Independence, allows participants to present two-minute pitches for a chance to participate in a nine-month business accelerator program.
  10. Wal-Mart Women’s Economic Empowerment Initiative (WEE): As part of a huge Wal-Mart initiative, sourcing opportunities for U.S. and international companies will increase to $40 billion over five years.
  11. Zions Bank — Smart Women Smart Money: This Utah-based bank’s grant annually awards $3,000 across six different categories, including business.

Costco Wholesale to be official breakfast sponsor for all business education events for 2016

Emerging Enterprise Center Announces Costco Wholesale as official breakfast sponsor for all business education events for 2016 at the EEC

15 business education events have been scheduled so far for 2016. More to Come.

New Castle, DE, January 2016:  The Emerging Enterprise Center (EEC) has officially announced that Costco Wholesale will be the sole breakfast sponsor for all business education workshops in 2016. One of the key missions of the EEC is to help businesses develop business skills to tackle not only the nuts and bolts aspects of running a business but also marketing, networking, and sales skills so that they can grow. Frank DeSantis, Program Director of the EEC, says “We are excited to have Costco as a sponsor for the breakfasts at our business education events. They have a longstanding commitment to the communities in which they serve, and have been a great resource for alot of the products that small businesses need on a daily basis.”

Costco Wholesale has been a member of the New Castle County Chamber of Commerce (affiliated with the EEC) since 2004 and sponsored many events but never has taken on series this large with the Chamber. “We are absolutely excited to be a part of the EEC business education programs. It is not only a great marketing benefit for Costco but we are also providing a service to our local businesses and the EEC, by helping keep their minds and bodies fueled,” says Cheryl Strootman from Costco Wholesale.

With this new sponsorship, the EEC can provide one more benefit to its businesses for attending the business education workshops.

The Emerging Enterprise Center wants you to join us for Educational Workshops and Networking! Find a workshop for you and your business at www.eecincubator.com. Register today at www.eecincubator.com. Contact Frank DeSantis at desantisf@ncccc.com or 302-737-4343 for more information on the Emerging Enterprise Center and its many programs that assist businesses in the community.

 

Costco Wholesale:

The number one warehouse club offering a wide array of the highest-quality products available from around the world.  We offer our members an unconditional guarantee of satisfaction on every item we sell.   Costco Wholesale’s mission is to Obey the law, Take care of our members, Take care of our employees, Respect our suppliers. If we do these four things throughout our organization, then we will achieve our ultimate goal, which is to Reward our shareholders.

 

Emerging Enterprise Center:

To serve businesses by offering a comprehensive program of assistance to early stage firms that develop into thriving businesses, by providing Support, Access & Advice. The incubator program helps nurture the entrepreneurial spirit while promoting economic development in New Castle County by providing affordable office space and business services, access to all of the training and networking resources of the New Castle County Chamber of Commerce, plus on-site professional advice, mentoring and a network of professional advisors.

What is SCORE and How Can it Help Me?

A group of longtime business gurus is building on something they may not even realize — the old idiom that “the best things in life are free.”

At least, that’s the feedback on the free business advice, expertise and know-how the 50 or so members of SCORE’s Delaware Chapter are dispensing to business operators seeking to survive and thrive in a realm where most simply don’t.

Once called the Service Corps of Retired Executives, the local cadre now is composed of the retired, semiretired and those not even close to thinking about retirement.

SCORE took root in 1952 with a handful of DuPont retirees looking for a way to give back to the community, said Frank DeSantis, a volunteer for SCORE, former executive vice president and program manager for the Emerging Enterprise Center at the New Castle County Chamber of Commerce.

And so they did, sharing their hard-earned lessons to those looking for a bit of guidance.

Today, SCORE is offered in New Castle, Kent and Sussex counties, having helped start 126 businesses and assisted 254 clients grow revenue to the tune of $44.6 million in 2012.

Think of it as an unofficial board of directors — innovative thinkers — for startups looking to get a venture out of the chute or existing businesses in need of a strategy audit.

Still, what may come as a surprise is that the early advice to some is simply: Don’t do it.

“The majority of people we talk to, in effect, we talk out of going into business because they’re just not suited to start a business,” DeSantis said.

Small businesses traditionally fail at a rate of 56 percent in the first four years, making free business coaches all the more appealing and, in many cases, a lifeline.

“We help them make that decision fast before they waste time and money in something they are just not cut out to do,” DeSantis said. “Do you want someone to waste five or six years of their life and all of their life savings to find out they would be better off working for someone else?”

The nonprofit has grown nationally into an outfit with 11,000 volunteers in 334 chapters in 50 states logging more than 1,158,220 hours in 2012. Nationally, SCORE has helped start 37,954 businesses, created 82,206 jobs and aided 50,791 clients.

And all of this comes free to SCORE beneficiaries, be they an entrepreneur with a dream worth embracing or abandoning or a business owner in need of objective advice or a new direction.

“We’re probably the best-kept secret in Delaware,” said Bob O’Brien, SCORE president, on a recent stop to Mercantile Press, a 129-year-old fourth-generation printing operation in Wilmington.

Even a company with that heritage turned to SCORE in 2009. It was the height of the recession, and Coleman “Corky” Bye III knew he had to refocus company priorities as the print industry continued to struggle.

“We decided to move into a different type of printing labels, multifold labels, much like in herbicides, expanded content labels,” Bye said of the company that has manufactured such labels for numerous pharmaceutical companies. “It was all in my head, but to get it down on paper, that’s another thing. Bob (O’Brien) helped in getting my thoughts down and concise so we could communicate it to others.”

It isn’t unusual for a small business owner to develop a myopic view, a love affair with the business itself, making it challenging to step back and look beyond the day, the week, the month of operation and into the future.

That’s where O’Brien stepped in with an objective view, setting forth a strategy with Bye with growth spelled out clearly on the agenda.

“He’s not here to commiserate,” Bye said. “When you have someone who comes in and takes a genuine interest in your business and says ‘I’m here to help,’ you now have to be accountable. It behooves me to go through the exercises like homework. I have someone to hold me accountable.”

Under O’Brien’s deft hand, Bye has taken a brick-and-mortar shop on Bellevue Avenue, established by his two great uncles in 1884 and later run by his father, now 83, to new heights.

For his work at Mercantile Press, the oldest printing company in Delaware, Bye has been named Small Business Administration‘s Small Business Person of the Year. The honor brought a special visit last month by Sen. Tom Carper, D-Del., offering congratulations.

“Coleman wanted to have growth with the business, but since all the financial resources had virtually been shut off, he was having trouble (for the first time) getting financing to grow the business and he needed some new equipment,” O’Brien recalled. “So I helped him look at ways in which he could free up his time so he could focus on strategy for growth.”

Giving existing employees a little more authority went a long way.

“That freed up his time and that’s one of the things that SCORE mentors typically do, working with small business owners to help them figure out how they can work on their business rather than in their business,” O’Brien said. “With Coleman, I worked with him on the strategic plan, started to get it implemented and then he went off on his own. Now that he’s getting some growth underway we will be working together again to figure out how to market this growth.”

The so-called informal board of directors approach has also been of great benefit to Sue Bowlby and her son, Don, of Corexcel, a Wilmington company that provides training materials, employee assessments and online courses in business skills and health care.

Bowlby bought the business in 1997 when it brought in about $100,000 in revenue, offering in-person training classes. Since then, the company has redirected its focus to online offerings, adapting to changes in digital demand and landscape. In 2012, the company reached $1.2 million in revenue.

For much of that, a noticeably choked up Bowlby thanks her SCORE mentors, including DeSantis and Steve DeVeber.

“We were maybe a year old when we first started meeting with them,” Bowlby recalled. “I always laughed because they always asked me questions I didn’t want to have to answer.”

The coaches assessed Corexcel’s marketing, pricing and business plan, Bowlby said, and developed strategies to improve it all.

“They understand our trends, our products, our history,” she said. “They’ve seen us almost broke and kind of propped me up when things were not going well. They really have been a very big part (of Corexcel’s success).”

SCORE is actively seeking volunteer mentors. To learn more, visit www.scoredelaware.org

The Emerging Enterprise Center Introduces Growth Wheel® Program with Funding by TD Bank, Through the TD Charitable Foundation

The Emerging Enterprise Center introduces Growth Wheel, a visual toolbox for decision-making and action planning for start-up and growth companies. “We are excited to be able to make the Growth Wheel tool available to our EEC companies, as part of their counseling in the incubation program,” says Frank DeSantis, Program Manager, EEC, “and also to the entire small business community, through workshops in our Business Education Program.”

Entrepreneurs learn pretty quickly that having a great idea, a great product or service, and perhaps some great customers are only a small part of the puzzle when starting a business. To be successful, a business owner needs to develop a lot of different skills and this can be somewhat overwhelming.

The Emerging Enterprise Center provides a comprehensive incubation program, in a nurturing environment for early stage businesses. “Support, Access to Resources and Advice” has always been the commitment that the EEC makes to the start-up companies in the incubator program.  This approach has enabled the EEC to focus on the individual needs of each of its start-up companies so they could concentrate on growing their business, developing business skills and graduating from the program with a scalable business model.

Business Counseling

Growth Wheel was designed around the observation that all businesses – in all industries and life stages – have four lasting challenges in common: They must create an attractive Business Concept, build a strong Organization behind it, develop lasting Client Relations, and do so while maintaining profitable Operations. Within each of those four quadrants are 5 Focus Areas, as indicated below, that contain the business skills necessary to implement a successful strategy.

According to Frank DeSantis, “Growth Wheel is the perfect tool for us to use with our EEC start-up companies. It helps our companies focus, set an agenda, make decisions and take action!” The process starts with a self-assessment by the entrepreneur, which gives them a 360 degree perspective on their capabilities within each focus area. It will provide structure and a framework with which to develop business skills.

Business Education

Besides being a valuable tool used in the individual counseling of companies in the EEC, Growth Wheel will become an integral part of the overall 2016 Business Education Program that the Emerging Enterprise Centers presents. In addition to the longstanding series; Finding Your Next Customer and Business Fundamentals, 2016 will include a 5 session Growth Wheel Series, starting in January 2016 with an Overview and Briefing, followed by a quarterly workshop from a focus area from one of the four quadrants.

The Emerging Enterprise Center offers several types of Business Incubation Programs: Residential incubation, which includes affordable office space; Virtual incubation, for those not requiring office space; International Soft-Landings and a Pre-Incubation program for those serious, but not quite ready to commit. To find out more about the Emerging Enterprise Center, its Business Incubation or Business Education Programs, contact Frank DeSantis, Program Manager at desantisf@ncccc.com, 302-294-2056 or visit us on the web at www.EECincubator.com.

Either Ride the Wave, or Watch as it Passes by

There’s a storm brewing in the business community. It’s building around technology, and Delaware just may be in the forefront. Delaware Innovation Week held last week, encompassed 20+ events across Wilmington and New Castle County. It brought together entrepreneurs, technologists, civic leaders and investors.

Two years ago, at the Economic Development Council Luncheon, presented by the New Castle County Chamber of Commerce, the keynote speaker was Steven Rosenbaum, Entrepreneur-at-Large for New York City. What resonated with me was him saying that it was “no longer just around biotech or medtech.

Traditional industries were being disrupted by technology. It was becoming “Industrytech”, like financetech and manufacturingtech. We’re already familiar with disruptive technologies. Companies like Uber, Airbnb, Amazon, LinkedIn, eTrade, Turbo Tax, and Expedia have revolutionized entire industries. These are frictionless business models, where technologies are used to identify and resolve inefficient processes in every industry. DeliveryCircle® , a Delaware start-up has done this for small package delivery; matching drivers, consumers and merchants in a fast, easy, seamless transaction. Soon, every company will be a software company.

Fast forward to today in Delaware. Established incubators, the Emerging Enterprise Center and Delaware Technology Park have been joined by the CoinLoft and 1313 Innovation, giving start-ups and entrepreneurs, different types of work spaces.

Zipcode, an intense 12 week program that trains people how to code was launched with the support of private companies like JP Morgan Chase, Capitol One and Chatham Financial. Techies have been getting together at Tech Mashups, and Global StartUp Weekends, to exchange ideas and build a community. Technically Media came to Delaware. Technical.ly grows local technology communities by connecting organizations and people through news, events and services.

Delaware Innovation Week ran November 13th -20th. There were events built around major tracks: Business, Civic, Creative, Dev (Development) and Media, plus events that companies and organizations staged that were incorporated into those tracks. Two specific events demonstrated why Delaware has become a Storm Chaser in this technology tsunami. At Technical.ly Delaware’s Stakeholder Luncheon, 40 people gathered to discuss the state of the tech community in Delaware. Someone commented, “it was a long way from the days when the same tech people sat around telling each other over and over again that something needed to be done”. You had Jeff Flynn from the City of Wilmington, the NCC Chamber of Commerce, along with graphic designers, developers, bankers, coders, and entrepreneurs sharing ideas, accomplishments, challenges and goals. It was a picture of diversity not typically seen in either a techie group, or in the boardroom. The 2015 Innovation Awards was another example. There were typical “tech-type” companies recognized,  but two were not typical; #HugACop, a viral campaign by the Newark Police Department and Delaware Libraries, for extending STEM & 3D Printing literacy to its branches.

Delawareans, coming together, can do amazing things. What I saw at Delaware Innovation Week makes me believe that our community can harness the storm’s energy and be the model for the new technology age that’s coming. Come join us!

 

By Frank DeSantis.

Frank J. DeSants, Program Director for the Emerging Enterprise Center, a business incubator that helps start-ups focus their efforts on driving business growth, developing business skills, and creating a scalable and sustainable business model, by providing support, access to resources and advice, in a nurturing environment.

It takes a village and 1 million cups

We’ve all heard the phrase, “It takes a village to raise a child.” The Emerging Enterprise Center (EEC) was born because of the belief by the New Castle County Chamber of Commerce (NCCCC) that the same philosophy applies to the success of new businesses. Creating a nurturing environment in which early stage businesses could grow, develop and succeed was part of the vision in establishing the EEC. But the NCCCC also recognized the need to nurture the entrepreneurial eco-system by engaging and leveraging the great work done by a variety of organizations in place to support small businesses.

The EEC has grown from a NCCCC Venture, a key initiative of the Economic Development Council (EDC), to one that has continued to produce solid results. The EDC is a partnership between the New Castle County Government, Private Businesses and the New Castle County Chamber of Commerce. In a little over 5 years, the EEC has worked with 21 companies. Five companies have graduated the program, including 2 this year. Over a two year period, 2011-2012, EEC companies generated $13 Million in Revenues and employed 33 people. Two new companies have just been accepted to the EEC in 2013.

These results don’t happen alone. Both the Chamber and the EEC has actively reached out to the entrepreneurial community to partner on efforts to create awareness among small businesses and budding entrepreneurs and let them know that they are not alone; there are resources available to help them.

Here are just a couple of the things that have been done in this past year.

Swim with the Sharks Video Pitch Competition: Introduced as part of the revamped NCCCC Annual Dinner, early stage entrepreneurs were invited to submit a 3 minute video pitch about their business with the winner getting a cash prize to invest in their growth.  Twenty one videos were submitted.  The students in the Entrepreneurial Program at Delaware Technical Community College assisted in the logistics of the program.

New Castle is Open for Business: A monthly Open House event, where small businesses could come and get their questions answered was started in April. Originally 12 organizations, including the Small Business Administration, Delaware Economic Development Office (DEDO), the Cities of Wilmington, Newark and New Castle County, and small business non-profit organizations came together to be available to small business and to share information amongst themselves. Since the first meeting, Delaware Technical Community College and the State’s Office of Supplier Diversity have joined the group. The partnership endeavors to reach the most number of small business owners by rotating the location of these Open Houses between Wilmington, Newark and New Castle. Attendance has grown each month.

Now, the next big thing ……

1 Million Cups™, a program created by Kauffman Labs for Enterprise Creation to engage, educate and connect entrepreneurs, launched today, in Wilmington, Del., on November 6, 2013. Wilmington is the newest location – and the 21st nationwide – to host the weekly gathering that is building startup communities over cups of coffee and conversation across the country. 1 Million Cups began in April 2012 in Kansas City, the hometown of its founding organization, the Ewing Marion Kauffman Foundation. Kauffman Labs is a program of the Kauffman Foundation. 

The 1 Million Cups model is consistent in every market. Every Wednesday Morning, in each city, two early-stage startups present their companies to a diverse audience of mentors, advisers and other entrepreneurs. Each founder presents for six minutes and then fields audience questions for another 20 minutes. The program is run entirely by local entrepreneurs who serve as community organizers.

Entrepreneurs, innovators and interested community members from New Castle County and the surrounding region will meet at 7:30 a.m. each Wednesday at the Southeast Building Conference Center on Delaware Technical Community College’s Wilmington Campus located between 3rd and Orange street, Wilmington, DE. The first week’s presenters will be Rope It Golf, LLC, a golf startup that manufactures and distributes a revolutionary practice device, and Penguin Ads, an advertising startup utilizing an outdoor medium.

Come join our entrepreneurial village, any Wednesday, for a cup of coffee, networking and to hear about two great startups in our local community.

 

‘SHARK’ TEACHES BUSINESS GROUP

‘SHARK’ TEACHES BUSINESS GROUP

TV’s Daymond John shares advice at dinner

 Wilmington News Journal, March 19,2013

By Wade Malcolm

‘SHARK’ TEACHES BUSINESS GROUP
Daymond John (left) of the ABC show ‘Shark Tank’ listens as Marc Nagaswami (right) explains the business model for his company Penguin Ads at the New Castle County Chamber of Commerce dinner Monday in Newark. KYLE GRANTHAM/THE NEWS JOURNAL

NEWARK — Entrepreneur and fashion mogul Daymond John had some honest advice for people looking to run their own business.

“Being a boss is this,” John said. “Your employees don’t like you. Your family doesn’t think you’re doing enough at home. You share the success with everyone, and the failure is yours alone.”

 That might sound like John, the featured speaker at the annual dinner of the New Castle County Chamber of Commerce, has a grim assessment of entrepreneurship. But that would be far from the truth. John could think of no better way to make a living than working for yourself, as long as you pour your energy into something you love.

“It takes courage to be an entrepreneur and start your own business, but does it take more courage to be in the hands of someone else and they might cut you after 20 years?” John said in an interview before the event. “So which one would you like? To be in charge of your own destiny or someone else?”

 John’s words rang particularly true on a day when the state learned one of its largest employers, drug maker AstraZeneca, would eliminate 1,200 positions.

 The theme of this year’s event, the 21st annual for the chamber, was innovation of entrepreneurship.

 Since it formed its Emerging Enterprise Center five years ago, the chamber’s leadership has focused in-creasing efforts on making the county a nurturing place for entrepreneurs.

The sobering news about AstraZeneca served as a reminder why Delaware can’t rely too heavily on big employers and needs to help homegrown businesses flourish, said Bob Chadwick, executive vice president of the chamber.

 “Everybody is always asking, ‘What’s the next big thing in Delaware?‘ We think it’s going to be a lot of little things,“ Chadwick said.

 “We’ve been blessed for a lot of years with really big employers, but some of those companies have started to contract a little. We think it’s a perfect time to focus on entrepreneurship.”

 The chamber picked a guest speaker to fit that focus. In addition to creating a whole new segment of the fashion industry – urban apparel – John made a small business he started in his mother’s basement into a multimillion-dollar powerhouse, FUBU. He’s since gone on to be an author, venture capitalist and co-star of the ABC reality show “Shark Tank.”

In a question-and-answer session, which gave audience members the chance to submit their own questions, John stressed that entrepreneurs have to pursue their dreams for the right reasons. They should have a love for the business, not a desire to be wealthy or famous. “Success only allows you to drive to your problems in a limo,” John said. With the member of the “Shark Tank” cast on hand, the chamber decided to host a video pitch competition as part of the event. The chamber received entries from 21 local entrepreneurs, which were narrowed down to three finalists. The winning pitch was awarded a $2,500 prize. More than 700 attended the dinner and listened to John’s speech at the University of Delaware’s Bob Carpenter Center. The annual dinner is the chamber’s largest event, and organizers decided to give it a more dynamic, revamped format. Different portions of the program – cocktails, dinner, speakers, dessert – were spread throughout the facility, encouraging people to get out of their chairs and meet one another.

 “It accentuating the whole networking aspect, rather than having people stuck in their chairs the whole time,” Chadwick said. “We want people walking around, meeting new people, and finding people they can partner with.”

 Contact Wade Malcolm at 324-2386, on Twitter @WadeMalcolm or wmalcolm@delawareonline.com.