February 2016 - Welcome to the Emerging Enterprise Center

February 19, 2016

Office Space Available for Start-ups and Early Stage Businesses at the Emerging Enterprise Center!!

The Emerging Enterprise Center has open office space for new start-ups and early stage businesses looking for a jump start on their way to a successful business! The Emerging Enterprise Center, located at the New Castle County Chamber of Commerce is a business incubator that provides Support, Access to resources and Advice help develop and nurture entrepreneurs.

Qualified participants receive affordable office space and business services, access to 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. The EEC has a variety of office sizes in both individual offices ranging from 80 square feet to 342 square feet, and 2 to 5 room office suites that range from 224 square feet to 807 square feet. As part of the incubator program, leases are for 6 month increments for flexibility, and include secure access 24/7, receptionist, and the EEC Services Room which includes copier, postage meter, individual secure mailboxes, coffee service, microwave, and refrigerator. The program also includes free access to conference rooms, business educational and networking events along with mentoring from experienced business people.

Founded in 2008, the EEC provides a comprehensive program that is designed to nurture entrepreneurs as the focus on Growing their business, Developing business skills and Refining their business model so they can Graduate with a business model that is scalable and sustainable!

In recent years, small businesses were the largest job generator in the U.S., as they have been historically. They will become even more important as large business continues with automation and efficiency improvement efforts. Small business provides financial opportunity and a chance to develop wealth. Creative, motivated individuals can use their talents and expertise to the fullest providing satisfying careers, job opportunities, and the backbone of the market economy.

What Types of Businesses are candidates for the Emerging Enterprise Center?

There are several qualifications that the EEC Admission Committee looks at in determining who to admit to the program. Recognizing the role small businesses play in the economy, the highest consideration is given to businesses with the potential to produce jobs and significant revenues in four to six years, and have the intent to remain in New Castle County upon graduation! The other primary qualifications include:

Be a new or an early stage business (less than 3 years), with a business license
Have a written business plan
Be privately held
Have adequate working capital to enter into a six-month lease
Be a current member, or become a member to the New Castle County Chamber of Commerce.

How does the Emerging Enterprise Center actually help a new business?

The Emerging Enterprise Center at the New Castle County Chamber of Commerce offers assistance to early stage, start-up businesses in New Castle County and the greater Wilmington region. The goal of the EEC is to offer a comprehensive program of assistance so that early stage firms can develop the skills necessary to graduate and grow into thriving businesses. Our EEC companies are exposed to a Balanced Scorecard, designed to help them focus on activities in four key areas: Customers, Education/Personal Growth, Financials and Internal Processes. The incubator program helps nurture the entrepreneurial spirit while promoting economic development in New Castle County by providing affordable office space and business support services, training, mentoring and a network of professional advisors.

For more information on the EEC, please contact us at 302-737-4343 or [email protected].

February 19, 2016

Investing in the Future: How an Incubator Helps Start-up Businesses?

Over the holidays, my mom asked me the same question that you may have gotten, “What exactly is it that you do?” I often get the question from some in the business community, “What is a business incubator?” And while I can glibly reply that the Emerging Enterprise Center provides Support, Access to Resources and Advice, so that start-up businesses can focus on Growing their business, Developing business skills, and Graduating with a sustainable and scalable business model, I’m not sure that I’ve really enlightened anyone about what an incubator is and what we do.

First of all, why would a start-up business need an incubator program? Starting up your own business can be exciting, frustrating, overwhelming and all-consuming, all at once. Not every entrepreneur is the same. All have different levels of experience. What they share is their passion for their grand idea. Most also share initially the fear about when they are going to get the next sale! This is part of the validation of their business. Does it solve a problem, and is someone willing to pay you for it? Each time you make a sale, you worry about the next one. As a result, many entrepreneurs find themselves in a vicious cycle. They are so busy marketing, networking, making sales calls….. then going back to “create or produce” the product or service that they are selling…. then handling the invoicing, paperwork, accounting etc. Being by yourself, in a home office or garage, or even in a rented space in some office building, it is easy to dive deeper into a hole, feeling alone, overworked and beginning to get burned out. At the Emerging Enterprise Center, you are not only surrounded by other entrepreneurs facing similar challenges or have survived those challenges, but you have our support in helping you navigate through these issues.

One of the things we talk about first is the sales process…… understanding the target customer, the pipeline and the time line from contact to contract. We talk about documenting the process so it can be replicated, consistently. This is hugely important when you begin hiring others to sell and represent your business. Your Brand is dependent on the consistency of the message and the experience. Once you have confidence that there is value in what you are selling and that there is a demand, you can shift from “where will the next sale come from” to “when!” That confidence moves you into a more operational mode of planning “how” you are going to achieve your goals!

In some shape or form, that is what we are doing throughout the entire two to three years of the incubation program. We help the entrepreneur develop a thought process that goes something like this…. What do I want to be when I grow up? (Long-term Vision and Goals) and What will it take to achieve that? (Operational, Tactical, Practical steps). With that context in mind, our quarterly meetings follow the same format: Which of your commitments did you accomplish or not? What did you learn from that? What are you committing to accomplish in the next quarter? What resources do you need to be successful? How can we help?

This isn’t a cookie-cutter approach because each business’ needs and issues are different. There are some businesses that are fortunate to have customers knocking down their door from day 1, but struggle with the capacity to deliver on the promise. Others underestimate the time it makes to close a sale, and the impact that has on cash flow. And others struggle with understanding when to hire someone to free themselves up to do something that is more important to the business. Sales is only one part of running a business. Add to that, pricing human resources, production, financial and funding issues, and much more. You can only ignore them for so long, but sooner or later you need to address all of them. It takes time, and you can see that skill levels grow day by day. But Ican tell you , when you see the light bulb go on, and it all comes together, you can almost see the entrepreneur’s confidence in themselves and in their business bursting through.

So what is an incubator? It is a program that combines a nurturing environment, with a supporting entrepreneurial eco-system, and assistance in developing the requisite skills that helps start-up businesses enhance their chance of success. Come check out the Emerging Enterprise Center at www.EECincubator.com.

February 19, 2016

Entrepreneurs! A Mentor can help you fast track your learning curve

Starting a business can be a daunting task! Ask any successful entrepreneur and they’ll tell you that they may have had a great idea, great enthusiasm and some great customers, but soon the reality hits…. There is more to running a business. It helps to have a support network, to help keep you focused on the things that will make your business successful.

The Emerging Enterprise Center at the New Castle County Chamber of Commerce offers assistance to early stage, start-up businesses in New Castle County and the greater Wilmington region. The incubator program helps nurture the entrepreneurial spirit while promoting economic development in New Castle County by providing affordable office space and business support services, as well as, training, mentoring and a network of professional advisors.

A key component of nurturing the entrepreneurial spirit is through the Mentor Program at the EEC. It is designed to provide participating companies in the EEC Small Business Incubator Program with job-specific guidance to fast track their learning curve. The Mentors help the EEC Company Teams by keeping them focused on the important priorities, clearly articulating their business vision, challenging their benchmarks/milestones, developing and executing on action plans, and assisting them, where appropriate, with developing a network of contacts. Mentors are drawn from diverse business fields, and are experienced, well-qualified professionals, who can relate to the challenges facing early-stage companies. The Mentors have networks in the region and have volunteered to share their knowledge and expertise with Company Teams at the EEC.

February 9, 2016

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.

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 @ [email protected].