mentor Archives - Welcome to the Emerging Enterprise Center

August 12, 2019August 12, 2019

The Mentor Mentee Relationship: A Two-Way Street

Article taken from “Chamber Executive Fall 2018”

This article is written by two chamber executives from the Texas coast who have shared many years together in the same office but now get to share on a different level. The mentee has been at the helm of the Portland Chamber of Commerce (Texas) for a little more than a year. Prior to serving in Portland, she worked at the Rockport-Fulton Chamber (Texas) for 13 years. The mentor has led the Rockport-Fulton Chamber for almost three decades. The two communities are 25 miles apart.

May 8, 2019May 8, 2019

Five Reasons to Apply for the 7th Annual Swim with the Sharks Pitch Competition

The pitch competition is back and by popular demand we have significantly extended the timeline to apply for the pitch. WE are in full swing to find the next start-up winner in Delaware. If you think your start-up has the right stuff, then please apply now.

Not sure whether you should apply? We think it is a no-brainer if you are a start-up under 5 years old, but we will break it down for you. Here are five reasons you should apply to compete in the Swim with the Sharks Pitch Competition.

$10,000 Cash Grand Prize and other additional in-kind services

What can we say? Cash is king and for a start-up $10,000 can help jump start your business.

2. Brand Awareness

Gain exposure for your business.

3. Find possible mentors for you and your business.

The judges that will be listening to your pitch are already mentors out in the community and have demonstrated their potential to help businesses. They can connect you with people who can be beneficial in supporting you such as other mentors, business partners, or advisors.

4. Perfect your business plan pitch

Take every opportunity to practice your pitch over and over and over again.

5. Receive input from professionals on your business plan and pitch

Feedback can be hard, but it’s good. The judges are there to help you progress and grow.

And one extra bonus just in case by now we still haven’t convinced you it’s worth applying…

It won’t cost you a thing to apply. So you have nothing to lose.

Click here to find out more.

February 22, 2019February 22, 2019

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

January 31, 2018

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.

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.