Presented by:
Thank you for our Sponsors:
1st Annual Entrepreneurial Summit
Calling all Nominations and Applications!
The New Castle County Chamber of Commerce and the Emerging Enterprise Center are looking for nominations for the David J. Freschman Entrepreneur of the Year Award. This award along with the Entrepreneurial Advocate of the Year Award and the NCC Innovates Sponsorship Award will be presented at the 1st Annual Delaware Entrepreneurial Summit on July 12, 2018. Please refer to the website for eligibility criteria and nominate a winner.
David J. Freschman
ENTREPRENEUR
OF THE YEAR
The newly launched New Castle County Innovates Sponsorship Award is developed by the New Castle County Department of Economic Development. NCC Innovates is a program that identifies opportunities to specifically support economic development through entrepreneurship.
Through NCC Innovates, New Castle County will sponsor a 1 year membership to the Resident Incubator a the New Castle County Chamber of Commerce Emerging Enterprise Center.
Through NCC Innovates, New Castle County will sponsor a 1 year membership to the Resident Incubator a the New Castle County Chamber of Commerce Emerging Enterprise Center.
Supporting local entrepreneurship and attracting new companies to New Castle County are key elements in the development of a strong innovation ecosystem. The Emerging Enterprise Center provides direct mentoring and
support for local startup companies.
The application review process and selection of a winner will be managed by the Emerging Enterprise Center Advisory Board.
Specifically, the award covers, Office space (single office) at the Emerging
Enterprise Center, Wi-fi & telephone service (one VoIP per
employee-unlimited minutes), Mail service, Fax/photocopier, Beverage station/kitchen access, 24/7 access to facilities, Access to meeting and conference rooms, Business idea execution guidance & coaching with
one-on-one mentoring via the Growth Wheel®, Platform, Business Growth Workshops and Training, Business networking and connectivity, and a one year membership in the New Castle County Chamber of Commerce
The last award, the Entrepreneurial Advocate of the Year, will be chosen by an appointed New Castle County Chamber of Commerce Committee and the Emerging Enterprise Center Advisory Board. The New Castle County Chamber of Commerce would like to recognize a member of the Chamber that have exemplified the entrepreneurial spirit and supported the efforts of the NCC Chamber. This award is presented to someone that has participated in programs and activities that support early stage business, been active in supporting entrepreneurial activity for at least three years, demonstrated an active level of participation in the local community, and is an active supporter/participant of the NCC Chamber.
The purpose of these awards is to not only recognize businesses and advocates successes right here in New Castle County but to pause for a moment and celebrate the entrepreneurial spirit.
Details Released for the 2018 Delaware Entrepreneurial Summit
The Emerging Enterprise Center and the DE Small Business Development Center announced that Chuck Nunan, serial entrepreneur and CEO and Founder of Harvest Ridge Winery will be the keynote speaker at the 1st Annual Delaware Entrepreneurial Summit to be held on July 12, 2018 at the DoubleTree by Hilton on Concord Pike.
“As someone who knows what it is to be an entrepreneur and start a business from scratch, Chuck is an ideal keynote for this event,” says Dora Cheatham, Director of the Emerging Enterprise Center. Harvest Ridge Winery started with its first grape varieties planted in 2011. These included
Chardonnay, Viognier, Malbec and Merlot. Today there are 20 acres under cultivation.
The Delaware Entrepreneurial Summit is a full day, high impact event that is aimed at bringing together entrepreneurs, resource providers and mentors with a goal to supporting entrepreneurs and accelerating business growth. The day will include workshops geared towards both general entrepreneurs and tech/science-based entrepreneurs, a tabletop expo of resource providers to the entrepreneurial community, numerous networking opportunities, and an awards luncheon. Among the awards will be the New Castle County Chamber of Commerce David J. Freschman Entrepreneur of the Year of Award and Entrepreneurial Advocate of the Year Award and the NCC Innovates Sponsorship Award which is offered through the newly launched NCC Innovates program developed by the New Castle County Department of Economic Development.
The event will also showcase a number of Delaware entrepreneurs that are in various stages of business growth. Ms. Cheatham says, “Delaware has some terrific entrepreneurs and innovators. We also have a huge amount of resources and intellectual capital available to entrepreneurs and innovators. The goal of this event is to bring everyone to the table to make things happen quicker and encourage business growth within the state.”
For more information on the event, and how to nominate or apply for awards visit www.EECincubator.com or contact Dora Cheatham or Erica Crell at the New Castle County Chamber of Commerce Emerging Enterprise Center.
A Strategy to Exit
Written by Cheryl Beth Kuchler, CEO Think Tank
STRATEGY TO EXIT
Rich Manders of Freescale Coaching grew his company, iAutomation, to $12Million with $2.5M in EBITDA and sold 75% of the business back in 2007. Over the past decade the company has continued on a growth track reaching over $100M in 2016.
During the acquisition process, the acquiring Private Equity firm, Riverside Company, used the “SPARKLE” model as a checklist evaluate the company’s value. Each letter represents an aspect of your business that should “sparkle” and if your business doesn’t, the acquiring firm wins.
At the 2016 Harvard Innovation Symposium, Rich shared the model and explained how buyers use the checklist to determine the price of a business. HINT: The more a company SPARKLES, the more the right buyer is willing to pay.
I highly recommend watching the entire presentation – about 43 minutes. If you’re time-strapped, however, you can read a recap of what each letter stands for here.