UEDA Summit 2013 - Awards of Excellence - Research & Analysis - The Iowa Business Concierge

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Entrepreneurs often need key business intelligence to make decisions associated with starting or growing a company. Market and customer demographics, industry trends, competitor data and email/mailing lists are critical, yet most information of this kind is out of financial reach for young companies. The UNI Business Concierge provides on-call and online business intelligence for free, to startups and young companies in Iowa. UNI’s Entrepreneurship Outreach team assembled existing university database resources and trained a business concierge to offer custom and timely business intelligence to entrepreneurs, then connect them with the service providers needed to move them forward. All online. The Business Concierge is marketed by service provider partners who upload a iframed Business Concierge module into their own websites, where it is marketed as a free, local resource for small business through the city, county or regional economic development organization’s website. Early outcomes suggest the Business Concierge is effective. Between June 2011 and December of 2012, more than 840 small companies were served by the Business Concierge, averaging 3 hours per business served. Of 127 Business Concierge survey respondents, more than one third reported opening or expanding a business. Twenty three reported starting a new business and 13 more reported launching a new product or service. Many reported hiring employees (14 FTE jobs and 48 subcontract positions). UNI has scaled the technology, formalized the approach and is in early conversations to beta test the approach outside of Iowa as a cost effective, outcome driven resource to serve young companies. Read the Case Study: http://universityeda.org/value-to-members/best-practice-sharing/awards-of-excellence/awards-of-excellence-2013-finalists/the-iowa-business-concierge/

Transcript of UEDA Summit 2013 - Awards of Excellence - Research & Analysis - The Iowa Business Concierge

The MyEntre.Net Business Concierge

October 2013Patrick Luensmann, Program Manager

UNI MyEntre.NetPatrick.Luensmann@uni.edu

UEDA Awards of Excellence

Our Common Challenge

Young Companies Need Business Intelligence

Expensive

Difficult to Find

Complex Data

What If We Could Provide

On Demand Business Intelligence to

Small Businesses?

Multiple Success Measures Provide Easy Access Eliminate the Cost Issue Translate the Data

Actionable Information

The Business Concierge

Martha Norbeck, C-Wise Design Consulting

Services, Iowa City , IA

The Business Concierge

D&B MDDI

DemographicsNow

FINTEL

Jigsaw

ProfitCents

Salesgenie

Moz

SitetoDoBusiness

ReferenceUSA

LexisNexis

IBISWorld

Small Business

Reference Center

-Ask Us Anything

Mailing listsPricing

ComparisonsDemographics

Competition info Industry trends

Sources for Grants/loans

Bedbugs!

How Big is the Problem?

Universities and Community Colleges?

What is the Market Share?

Is it Growing? Declining?

Midwest Mailing List

The Business Concierge

Josh Rzpeka Enviropest Solutions, Waterloo,

Iowa

“Your service is beyond invaluable when I did not even know the questions to ask”

-Gail Chavenelle, Chavenelle Studio Metalworks

The Business Concierge

Online TechnologyChat, Email, Phone or OnlineRapid Turn-AroundReferrals

Program FormatStudent Research TeamsInterpretive

256 Served in Six Months

11 New Business Starts

2 Businesses Acquired

8 New Products/Services Carolyn Corbin ConsultingDecorah, Iowa

Industry Statistics & Customized Mailing List

The Business Concierge

500-600 Requests Annually

3-4 Hours Per Request

I-Frame Available to Iowa EDO’s

Benefits SeenEntrepreneurs

Students

Higher Education

The Business Concierge

Going Forward

Resources on Every Campus

Student

Baseline Databases

Sharable Technology

I-Frame

CRM w/TrackingPatrick Quinn, TechnologyAssociation of Iowa

List of every Iowa technology Company < five years old

The Business Concierge