Delaware’s Entrepreneurial Ecosystem: It Takes a Village

written by Dora Cheatham, Director, Economic Development Council, New Castle County Chamber of Commerce & Program Manager, Emerging Enterprise Center

 

Last week’s Delaware Entrepreneurial Summit – co-hosted by the New Castle County Chamber of Commerce Emerging Enterprise Center and the Delaware Small Business Development Center and held at the DuPont Country Club – with the aim of gathering together entrepreneurs, mentors and small business resources – was proof positive yet again that Delaware’s entrepreneurial ecosystem is unlike any other.  Keynote speakers gave a big picture view of entrepreneurship and innovation, while entrepreneurs and innovators who had been there, done that and had the scars to prove it shared their knowledge, expertise and experiences both in the traditional and scientific startup arenas.  Small business resources were on hand for assistance and there was networking – lots of networking.

Guest Speaker Michelle Christian – SBA Regional Director – articulated what we in Delaware know all too well but so often fail to shout from the rooftops:  that as a state, our entrepreneurial resources work in tandem – rather than compete – to help budding entrepreneurs and startups.  This doesn’t mean that every entrepreneur or startup is a star in the making.   What it does mean, is that good ideas, the ones that pass the “sniff test”, have an entire support system behind them ready, willing and able to help them succeed.

Take D150 Fueling for example.  The brainchild of three friends from Ohio, Pennsylvania and New Jersey who met on the University of Delaware rowing team, the idea for a fueling innovation system that sends fueling professionals to refuel business vehicles at a customer’s lot was incubated at the University of Delaware’s Horn Program.  An invitation to apply for an NCC Innovates Sponsorship Award from New Castle County’s Department of Economic Development won them a year’s membership in the Emerging Enterprise Center Resident Program, which was announced at last year’s Entrepreneurial Summit.  On winning the award D150 stated that one of the reasons they wanted to keep their ties to Delaware is “the great community and how much people are willing to help us out.”  Since winning the award, D150 have generated over $3.5 million in revenue, created 5 full time and 2 part time jobs, invested in additional vehicles are on track for continued for continued growth throughout 2019.

On a wholly different entrepreneurial SAS Nanotechnologies illustrates an even broader ecosystem that Delaware enjoys.  Founded by Dr. Sumedh Surwade, it all started with his PhD and Post-doc research in Polymer Science and the fundamental and application aspects of nanomaterials.

After completing his research, Dr. Surwade landed at Delaware Technology Park (DTP) where he continued to refine his technology and develop environmentally friendly, self-healing anti-corrosive coatings.  He also began to formulate his business idea.  While at DTP, he learned about the Delaware Sustainable Chemistry Alliance (DESCA) and the DESCA TechConnect Workshop.  Dr. Surwade says:

“DESCA events were my main source of networking and these helped me tremendously in connecting with experienced professionals. Going through the TechConnect Workshop and getting direct and honest feedback on my technology from experienced industry professionals was very useful. Their feedback helped me to broaden my thinking, evaluate different applications of my technology and focus on commercialization.”  

DESCA also helped Dr. Surwade form his Advisory Board, connected him with strategic partners, and brought him into contact with Lou DiNetta of the Delaware SBDC who worked closely with Dr. Surwade to help him win an SBIR Phase I Grant in the amount of $225,000 and apply for a Phase II award in February of 2019.

Realizing the important of connecting and networking, Dr. Surwade also joined the New Castle County Chamber of Commerce where he learned about, and was encouraged, to pitch for the Emerging Enterprise Center’s annual Swim with the Sharks Pitch Competition, sponsored by New Castle County’s NCC Innovates Initiative.  This led to another win:  $10,000 in cash, a 6 month membership in the Emerging Enterprise Center incubator, 6 months of accounting services and IT consulting services.   At the Emerging Enterprise Center, Dr. Surwade has a place to hold conferences, meet with customers and seek additional advice and resource assistance – most recently, connecting him with the Delaware Manufacturing Extension Partnership (DEMEP) to help him source a toll manufacturer and connect him with additional strategic partners. 

Just a few months after his Swim with the Sharks win, Dr. Surwade was invited to pitch again at DESCA’s Venture Forum where he was approached by a VC firm seeking to invest in SAS Nanotechnologies.

Since emerging from the research world, SAS Nanotechnologies have navigated what is commonly known as the “valley of death” in science innovation with the help of organizations that are dedicated to helping them commercialize their technology successfully. 

These are just two of many stories that illustrate how “it takes a village” working in unison to drive economic development, and a myriad quotes that can similarly illustrate the concept – but let’s go with one from Henry Ford:  “Coming together is a beginning, staying together is progress, and working together is success.”

Did you know that our Growth Training Workshops/Seminars are open to the public?

Did you know that the Emerging Enterprise Center (EEC) hosts a series of business growth workshops that are open to the public and discounted to NCC Chamber of Commerce members?

The EEC began as an initiative that came out of the NCC Chamber of Commerce Economic Development Council (EDC). In 2008, the EDC saw a need for a place to help baby businesses from failing in the first 5 years. The EEC’s vision and mission is to develop business skills for early staged businesses so that they can grow and generate jobs with a sustainable and scalable business model. The EEC is a 501(c)3, separate entity from the New Castle County Chamber of Commerce. However, the two entities work hand and hand with each other to partner with resources, events, and making connections for its members. The EEC continues to expand its programs by leveraging the NCC Chamber of Commerce resources, facilities, and initiatives. One of the initiatives the EEC does is to create business growth workshops and seminars that are designed to focus on critical skills needed to develop value propositions, product and business marketing, and sales. Each workshop has a networking portion and hands on experiences so that each type of business can walk away with skills that they can apply to their business right away.

The beauty of these workshops, like in running your business, is that there is no set beginning, and no end. Based on the situation or opportunity, you jump right in and work towards a solution. And, nothing happens in a vacuum. Everything you do, every decision you make is connected to something else in the business. It’s all about consistency: consistency in your brand, in your message, in your execution. The key is the process you take. Each topic offers a strategic and hands-on context that allows business owners and their appropriate employees a chance to learn from business professionals, on how to work smarter, not harder, to grow the business.

There are two types of Business Growth Workshops/Seminars. Our interactive Growth Wheel Workshops use a variety of worksheets and tools that focus on making decisions and taking action. The Growth Wheel® is a toolbox built by entrepreneurs for entrepreneurs and is available to Growth Wheel Certified Business Advisors and Educators. It was designed around the observation that all businesses, regardless of industry, size or life stage, have four common and consistent challenges: they must create and maintain an attractive Business Concept, build a strong Organization behind it, develop lasting Client Relations, and do so while maintaining profitable Operations. The Growth Wheel’s systematic approach helps entrepreneurs build their businesses through an action-oriented process that stays true to the way most entrepreneurs think and work.

Each Growth Wheel workshop is complemented by our “Learn with the Experts” Seminars led by industry and subject matter experts. Our Learn with the Experts Seminars are designed to bring together Growth Wheel® learning with real world practice. The EEC hosts experts that illustrate how lessons, strategies, decisions, and tactics discussed during Growth Wheel workshops are or can be applied in the entrepreneurial, business and corporate world. These experts range in backgrounds and expertise, including business, academic and professional.

Both workshop types are not accredited business education workshops. These workshops are business growth training workshops for business owners, managers, and all employees of small and mid-size businesses. Anyone can attend these workshops, however EEC and Chamber members receive discounted rates.

You can find information on these workshops on the NCC Chamber of Commerce calendar or on the EEC website under Business Growth Workshops.