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.
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:
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
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.”