Tag: business

Posted on

Social Enterprises – An EEC Soft Landings Company is on the Rise!

Social Enterprises was founded in the US in 2015. It is a company to give consultancy to entrepreneurs and investors who want to invest in the US.  People know that in 2016 world trade amounted to 16 billion dollars. The US has 3.9 billion dollars and 24 percent of world trade. Thanks to Social Enterprises, more than 250 companies were established in the USA since 2015 to take advantage of the opportunities the US offers. These small-scale companies are entering the world market by opening up to the US market. More than 300 hundred entrepreneurs and investors came to the US to found their companies. Social Enterprises, in other words, is a bridging company that open the US’ doors to Europe.

Having considered that there are many companies in the world, it is a fact that business consultant firms are needed to make them more successful. According to official records, there are about 200 million companies in the world. 80 percent of them are local, and 70 percent of them want to open up to the world. Social Enterprises takes part here. It is serving its customers in many ways to transfer their companies from being local to global, from opening a bank account to accountant services and any other operations without any intermediary to customers who want to establish a business. It does not only set up a company in the US, but it also provides services to legal counselling by delivering institutionalisation of companies.

On the other hand, the institutionalisation of the companies is impossible before understanding the US system well. The founders of Social Enterprises, Samet Oynamış and Fatih Pekar, are aware that consulting firms that have not been integrated into the US market cannot solve the US system by watching from the outside, and they experienced themselves firstly by entering into the US business system itself and giving information to entrepreneurs. The founders are now encouraging and consulting many enterprises from all around the world to convey their experiences. Moreover, Social Enterprises is trying to be integrated to e-world. The founders are focusing on e-government systems, services and e-government solution systems.

Furthermore, Social Enterprises directs software and technology companies to “International Soft Landing Program” focused on providing companies from the tech and innovative space the opportunity to learn about doing business instead of Silicon Valley of San Francisco. Participants in the program will receive exposure to key areas including marketing, sales and so on. These courses the ones which entrepreneurs have to know about.  For example, for “must-known” issues, Social Enterprises highly recommends the Delaware Emerging Enterprise Center to entrepreneurs. This centre is a professional business incubator that helps start-up businesses learn entrepreneurial skills. Its business growth workshops are designed to improve critical business skills necessary for start-up and growing companies.

Finally, Social Enterprises provides consultancy services to all business people from Europe to the US through their partnerships in America, their own experiences and business visions. Social Enterprises invites from Europe to the US.

Posted on

Come Join Our Entrepreneurial Village

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 10 years, the EEC has worked with 34 companies, generated $61.4 Million in Revenues and employed 201 people. 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.

One of those resources is the New Castle County’s Open for Business. This is a monthly Open House event, where start-ups, small, and mid-size businesses can come and get their questions answered. Organizations, including the Small Business Administration, New Castle County Purchasing, Small Business Development Center, SCORE, and other small business organizations come together to be available to businesses and to share information amongst themselves. Entrepreneurs, innovators, and interested community members from New Castle County and the surrounding region meet with over 16 resources to learn who can help them.

Join us on the fourth Thursday of each month from 9:00 am – 11:00 am for our Open for Business sessions held at 920 Justison Street and meet with representatives from our partner organizations. Collectively, these organizations provide a range of services that help start-ups advance their business model, reach potential customers, land government contracts, secure loans, meet state regulatory requirements and generally mentor entrepreneurs striking out on their own for the first time. Come join our entrepreneurial village, the fourth Thursday of every month to network and to learn from resources in Delaware that are here to help you.

Hear a testimonial:

Posted on

SAS Nanotechnologies Wins This Year’s Swim with the Sharks Pitch Competition

Written by Dora Cheatham, Program Manager, Emerging Enterprise Center

Beating out eleven other startup companies, and despite tough competition, SAS Nanotechnologies cruised into the no. 1 position to win the Emerging Enterprise Center’s Swim with the Sharks Pitch Competition—now in its 6th year and with a Grand Prize totaling over $16,000 in cash and services.

Dr. Sumedh Surwade from SAS Nanotechnologies responds to questions from the judges following his pitch. Photos courtesy of Bob Horton, Creative Image Associates

SAS Nanotechnologies won this year’s award with their proprietary, patent pending anticorrosive coating technology that not only prevents corrosion but also heals and protects metals from corrosion in the case of surface scratch or damage. Founded by Sumedh Surwade, and growing out of his PhD research, the technology was recently awarded an NSF  SBIR  grant to further develop the technology. Dr. Surwade is already in conversations with potential strategic partners for technology testing and licensing and is considering additional routes to market, including manufacturing in Delaware.  Dr. Surwade plans on using his winnings to purchase testing equipment that will speed up product commercialization by reducing the time and cost of testing from 10 days to 3 hours.

For the second time this year, the Emerging Enterprise Center, Delaware’s first small business incubator located at the New Castle County Chamber of Commerce, partnered with New Castle County Government, as well as multiple sponsors, to offer the prize package which included:

  • Cash prize of $10,000 from the New Castle County NCC Innovates Program
  • $2,000 business startup and bookkeeping package from SC Associates
  • $1,400 in IT services from Info Solutions
  • 6 month membership in the Emerging Enterprise Center Virtual Incubation Program (valued at $1,800)
  • New Castle County Chamber of Commerce Marketing Package (valued at $1,400)
  • One year membership in World Trade Center Delaware (valued at $395)
  • One year membership in New Castle County Chamber of Commerce (valued at $350)

Each applicant was judged based on a combined score of both their written application and oral pitch.  Judging criteria included business feasibility, understanding of market need and opportunity, clear articulation of value proposition, go-to-market strategy and soft skills.  Three finalists were then selected to pitch before a live audience and a new panel of judges at the Emerging Enterprise Center Luncheon which was held at the Grand Opera House in Wilmington.  The three finalists included SAS Nanotechnologies, D150 Fueling and Smart Kidz Club.

The Grand Prize winner was selected based on a combined judge/audience vote (85%/15%).  The judges included former Swim with the Sharks winner Amira Idris (Thera-V), Dr. Daniel Young (Goldey Beacom College), Sam Waltz (Strategic Capital & Business Counsel) and Dr. Janet Reed (Potter Anderson Corroon, LLP).

Above: Dr. Sumedh Surwade from SAS Nanotechnologies accepts his award from New Castle County Executive Matt Meyer
Back left to right: Dr. Daniel Young (Goldey-Beacom College), Bob Chadwick (New Castle County Chamber of Commerce), Sam Waltz (Strategic Capital & Counsel), Dr. Janet Reed (Potter Anderson Corroon, LLP).
Front left to right: Amira Idris (Thera-V), Dora Cheatham (Emerging Enterprise Center), Matt Meyer (New Castle County Executive), Dr. Sumedh Surwade (SAS Nanotechnologies), Tamarra Morris (New Castle County Government).
Photos courtesy of Bob Horton, Creative Image Associates

 

 

 

 

 

 

Posted on

Why Continuous Learning Matters

Written by Dora Cheatham, Program Manager, Emerging Enterprise Center

“It does not matter how slowly you go as long as you do not stop.”  Confucius

When I first entered the world of business more years ago than I care to remember, it was a very different place.  Word processors were just making an appearance and sending a fax was the ultimate in high speed communication, the internet barely existed, and Amazon wasn’t even a glimmer in Jeff Bezos’ eye.

Fast forward to 2018 and while the basic principles of business remain the same, the way we DO business is infinitely different. Technology has changed how we make decisions and embark on a strategic direction, how we execute on strategy, how we transact business, how we communicate. Equally, we have access to more informational and educational resources than ever before. For the small business owner today – more than ever – to ignore the need for continuous learning is to remain stagnant at best, fail at worst.

The Emerging Enterprise Center’s Business Growth Workshops hone in on business processes that every small business and entrepreneur needs while tying into the ever-evolving business environment.  Among these:

Marketing & Communication:  30 years ago, sales and marketing were almost synonymous and advertising represented the main thrust of the marketing and sales effort.  Today the world of sales and marketing couldn’t be more different, yet too often small business owners still believe that, as long as they market their product or business “customers will come”.  This couldn’t be further from the truth, so it is critical that new entrepreneurs as well as small business owners are clear in their own minds of the differences between strategic marketing, marketing communications, advertising, and sales so that they can develop and implement a sustainable business growth plan.

Selling Value:  Probably the toughest thing for first time – and sometimes serial – entrepreneurs to grasp, is the difference between selling a PRODUCT or SERVICE and selling VALUE.  Entrepreneurs and innovators, rightly, are passionate about their product and their passion is reflected when they speak about it.  What it can do, how it can do it, how it was developed, the features, the benefits.  The more clearly those features and benefits can be articulated into end user value, the less important price becomes as a part of the sales equation.  This translates into a more valuable business model that generates greater revenue.  To quote Warren Buffet:  “Price is what you pay, value is what you get.”    Are you clear about the value that you are providing to your customers?

Innovation: “Innovate or die” has become a 21st century mantra and rightly so.  Failure to innovate led to the slow demise of companies like Eastman Kodak, Blockbuster, Sears and, more recently, Toys ‘R’ Us.  In today’s world of rapid technological development, changing tastes and increasing competition, product life cycles are becoming shorter and shorter.  Businesses that fail to update are gradually squeezed out of the market.  Innovation doesn’t have to be disruptive – it can be gradual and incremental.  The key is to remain relevant!

Globalization:  Globalization can be a hotly contested topic but has nevertheless had a profound impact on business with increased competition, expanded markets, increased resources, technology transfer.  The increased ease with which business can be transacted internationally means that even the smallest of businesses can access customers and markets which in the past may have seemed unreachable, either directly or through strategic business alliances.

In the end, while ignorance – at times – can be bliss, when running a business, it can be fatal.  As a business owner, I’m all too aware of the fact that the first step to growing a business is the ability to acknowledge that “I don’t know what I don’t know.”  So I make sure I continue to learn.

For more information on the Emerging Enterprise Center’s Business Growth Workshops, contact Erica Crell at (302) 294-2063 or via email.

Posted on

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.

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.

Posted on

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.

Above: Chuck Nunan, Founder & CEO of Harvest Ridge Winery will be the keynote speaker at the 1st Annual Delaware Entrepreneurial Summit.

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.

Posted on

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.

Posted on

Entrepreneur Profile: Reggie Ezeh, Data Value

Data Value, led by Reggie Ezeh, is a data management and analytics consulting firm.

Reggie has over 20 years’ experience in advanced analytics with Fortune 500 companies across the US and overseas. His experience spans Telecoms, Insurance (P&C, Auto, Health, etc.), Finance and Technology. He has managed local and global analytics projects in excess of $20 million dollars delivering top notch quantifiable value to the business in his previous positions.

Reggie saw a need in the market and a shortage of experienced professionals that can bridge the gap between analytics and business to provide strategic solutions. Having managed analytics, customer experience and marketing at local and global levels, Reggie has first-hand experience on how to transform an enterprise from a reactive, problem solving entity to a proactive and highly optimized one. And that is how Data Value was born.

 

Reggie does acknowledge that the greatest challenge is in helping potential clients – especially those who have never before focused on analytics – understand the profound impact that data can have on their business strategy. “Often times it’s an uphill task trying to sell fresh, insightful strategies backed by data to senior management who have not yet seen or understood the impact of data on today’s business playing field,” says Reggie. But he says that once senior management understands the value of analytics, Data Value is able to implement change that can be very impactful for a company. For example, a change to call center operations for one company led by Data Value resulted in a conversation rate increase from 1.5% to 3.5%!

Reggie plans to employ an intern in the Spring and a full time analyst by summer. When current projects can support it, he also plans to hire an 4-6 additional analysts, as well as local University interns to support clients. Reggie is also considering strategic partnerships with larger prime contractors for broader reach.

With the help of the Emerging Enterprise Center, Reggie now has good insight on how to plan his growth path.  Reggie says, “The EEC has also provided us with invaluable networking opportunities as well as beneficial seminars and workshops. Since joining EEC, we have made some great contacts that are sure be rewarding in the near future.”

Posted on

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 [email protected] for more information on how you can get involved in the Emerging Enterprise Center.