An Incubator that Works For You and With You: The Emerging Enterprise Center

What is the Emerging Enterprise Center? It is a small business incubator that is co-located in the New Castle County Chamber of Commerce (NCC Chamber of Commerce).

The Emerging Enterprise Center (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 startup businesses from failing in the first 5 years and a vision that would nurture a strong and vibrant entrepreneurial ecosystem as well as build jobs and revenue for New Castle County and Delaware.

At the time, the EEC was the first and only incubator in the state and while it is a separate entity from the New Castle County Chamber of Commerce, 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.

The EEC is not just about cost-effective space for young businesses; it is more about one-on-one mentoring and the connections that we can facilitate for growing businesses. The EEC attracts everything from the traditional main street businesses to fintech startups, with programs that range from pure co-working space with business amenities to more comprehensive programs, with one-on-one mentoring. Each business moves at its own pace with guidance that helps them focus on the needs and skills that will help them take their business to the next level.

According to the U.S. Small Business Administration, about two-thirds of businesses survive at least 2 years and about half of that survive at least 5 years**.  In addition, most entrepreneurs will attest that starting a business can be very lonely.  The EEC works to help decrease those numbers by offering specialized services and mentoring. Does it work? Historically, International Business Innovation Association member incubators have reported that 87%* of all graduate firms are still in business.

The EEC is unlike most incubators in the country right now. It is quite normal for a chamber to offer support to business incubators, but it is very unusual for a chamber to embed its own home-grown program inside the existing chamber of commerce.  Research shows that there are fewer than 10 programs like this among the International Business Innovation Association*. The EEC has found that by being co-located with the NCC Chamber of Commerce, its clients work in close proximity to practical business people doing business everyday and have the capability to network with them to help understand that building relationships is so important. This affiliation is one of the many reasons that makes the EEC unique from other incubators in the area.

The EEC has one full-time certified mentor that works directly with each business to help develop business skills and hold each business accountable to the tasks they need to do to keep their business growing.

Young businesses can enter the coworking plus, business accelerator or resident program. Businesses that are older but still need some help can take advantage of the coworking or coworking plus programs.

Since its inception, the EEC has worked with 42 companies, while they were in the incubator, these 42 companies have generated $62 million in revenue and created over 200 jobs in the county.

For more information about the EEC programs, please call the NCC Chamber of Commerce at 302-737-4343.

Sources:

*https://impactindex.inbia.org/ecdata/

** https://www.sba.gov/sites/default/files/Business-Survival.pdf

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.

Congratulations To Our EEC Client, Drone Workforce Solutions, For Winning Their Third Grant

The Emerging Enterprise Center is excited to announce that Drone Workforce Solutions has received its third grant from the Delaware Department of Labor, Division of Employment and Training and Delaware Workforce Development Board. This is the third such drone grant awarded by the state of Delaware in its history. DWS is honored to be the recipient of this and all grants for drone training.

In January 2017, DWS Drones was awarded a planning grant to create a Strategic Workforce Training Plan for drone technology that met Delaware employer’s workforce needs, advance the skills of Delaware workers, grow the state’s economy and increase sustainable employment for working families.

In September 2017 DWS Drones was awarded a training grant to teach 10 Delaware citizens how  to  become a highly skilled and paid commercial drone operator. Students graduated in December 2017.

With this award under the “Adult Occupational Skills Training Programs” unemployed students in selected zip codes will participate in a 10-week, 70-hour course which includes topics such as: the anatomy of drones (building their own), aerodynamics and principles of flight, weather, reading sectional charts, flight planning & air space, aerial photography, videography/editing, drone entrepreneurship and many hours of flying drones. They also receive skills training. Additionally, each student will be given the most advanced drone manufactured by DJI, the leader in drone technology, (Phantom 4 Pro v.2).

Drone Workforce Solutions has started a pipeline of talented commercial FAA certified drone operators through its employment company to expand the state’s technology sector and increase sustainable employment for men and women from diverse backgrounds of today’s working families.

DWS graduates will receive a “Certificate of Completion” from Drone Workforce Solutions; the only drone training and employment company that is approved by the Delaware Department of Education, the New Jersey Department of Education, and the New Jersey Department of Labor and Workforce Development.

Said President Theo Nix, Jr., Esq., “The expansion of commercial drones could add $82 billion in economic value over the next ten years and by 2025 employ an additional 100,000 Americans. Delawareans in particular and Americans in general can be at the forefront globally in this technology”.

DWS also offers employment opportunities for FAA certified drone pilots through its drone staffing and employment part of the company. Pilots are encouraged to contact DWS through its website.

Drone Workforce Solutions was formed by visionary and company President, Theophilus R. Nix, Jr., Esq. and his wife Suzanne Nix, COO. Their goal is to be recognized as “THE” premier global staffing and placement company for DWS validated drone operators, with the “Best in Class” standards for providing service and solutions  to organizations interested in incorporating drones into their operations.

Emerging Enterprise Center by the Numbers

 

The EEC is a business incubator that helps startups and small businesses learn essential entrepreneurial and business skills, grow their business, and develop a long-term sustainable model. The key elements of the incubator program include: one-on-one mentoring, coupled with business growth workshops. These are used to provide guidance and context to entrepreneurs and small businesses alike.

Since its inception in 2008, the Emerging Enterprise Center has worked with 38 companies generating over $61 Million in revenue and created 179 full time jobs in the County while they were in the incubator.

The EEC has 20 workshops/seminars scheduled for 2018.

The EEC uses the Growth Wheel to help mentor its participants. It is a toolbox built by entrepreneurs for entrepreneurs. It is designed around the four challenge areas of business (Business Concept, Business Organization, Client Relations, and Business Operations).  It is a systematic approach to help entrepreneurs build their business through an action –oriented process that stays true to the way most entrepreneurs think and work. The EEC has a certified Growth Wheel mentor on staff. Click here to see the program guide for the workshops.

Contact us at 302-737-4343 or info@EECincubator.com for more information on how you can get involved in the Emerging Enterprise Center.

Why Do Passionate Entrepreneurs Fail?

Written by Frank DeSantis, Certified Growth Wheel Trainer, Former Emerging Enterprise Center Program Director

The link below is to a great article in HBR on Passion vs. Preparedness, and reflects what I believe is the approach the Emerging Enterprise Center tries to take with their Incubator companies.

An entrepreneur has to have passion. It’s entirely too hard to start and run a business if you don’t absolutely love what you are doing! Apparently, according to this research, passion is a key ingredient to attracting attention of investors, especially novice investors, those typically found on crowdfunding sites.

Long term success, however, depends upon your ability to be prepared to scale the business. For that you need to have a vision (what do you want to be when you grow up), a game plan (strategy or business plan), and the processes and procedures to replicate what you do and how you sell. For more experienced investors, the passion and the concept may attract them initially, but they move quickly to determining how prepared they are for success; what is the experience of the management team; have they started a business before; is there a market; have they proved the concept?

At the Emerging Enterprise Center, they try to help you focus first on DRIVING YOUR BUSINESS (sales), while in parallel, developing the business skills and the policies/procedures to enable you to take advantage of opportunities that help you achieve your vision.

I believe you can have and, in fact, need both: PASSION AND PREPAREDNESS!

https://hbr.org/2015/07/for-founders-preparation-trumps-passion

Emerging Enterprise Center Announces K-Video & Web Productions as official videographer sponsor for all business education events for 2016 at the EEC

10 business education events are scheduled for the remainder of 2016.

New Castle, DE, May 2016:  The Emerging Enterprise Center (EEC) has officially announced that K-Video & Web Productions will be the official videographer sponsor for all business education workshops for the remainder of  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. K-Video has been a member of the New Castle County Chamber of Commerce (affiliated with the EEC) for over a year now and has never taken on a series this large with the Chamber. 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.

About K-Video & Web Productions

K-Video & Web Productions specializes in Safety, Training, and Marketing video production. K-Video has been providing high quality, affordable video solutions since 1980. Our clientele ranges from small, local businesses to large, global corporations. We develop products that will represent your organization with pride and integrity.