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Investing In Our Future
Contact: Michael Newell, Executive Director
Address: 1300 Valley House Drive, Suite 100
Rohnert Park, CA 94928
Telephone: (707) 480-1577
Website: www.somobc.org
SMBC & The North BayiHub
Oct 2011
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Where do we invest?
• 2/3 of all the net new jobs are created by companies that are less than 5 years old (Kauffman Foundation, 2009)
• Job Growth in U.S. Driven Entirely by Startups (Kauffman Foundation 2010)
– 1977 - 2005, Existing firms lost 1M jobs net per year (job destroyers).
– 1977 – 2005, New firms add an average of 3 million jobs in year 1.
• Startups & young companies need the most support to be successful
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SMBC – the North Bay’s Business Incubator
• Mission: To create high value jobs in the North Bay by enabling and accelerating the success of innovative startups
• Goals: Be the entrepreneurial hub of the North Bay supplying the infrastructure to:
- accelerate >100 start ups over 10 years
- create >2000 high paying white/green collar jobs
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• “Plug and Play” Office Suites– Furnished offices
– 24/7 card access security
– Conference rooms with A/V
– Shared reception area
– Library
– Kitchen
– Lounge
– Business services: copiers, fax, printers, data lines, mail, utilities…
• Entrepreneurial Services– Individualized mentoring
– Advisors
– Technical experts
– Service provider network
– Connections to capital/funding
– University relations & facilities access
– Educational and networking events
– Entrepreneurial environment
29,000 sq.ft facility Office & lab space
Designed for LEED Gold Cert.
What does SMBC provide?
• Future plansVirtual Incubator / Entrepreneur GroupSecond Incubator
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Why join an Incubator?
• Save time, Save $$– Plug and play office space saves up to $10,000 in startup costs– Saves weeks of your time
• Increase your chances of success (4X)– You are 4x more likely to succeed if you are in an incubator– Do you want an 80% chance of success or failure?
• Reduce isolation– Join a community of entrepreneurs– Built in support group, keeps motivation high
• “Its who you know, not what you know”– Increase your network– Your network is a big factor in determining success or failure
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Some Success Stories
Pix2o• LED video screens• Exclusive for
Michael Jackson Tour
Barspace• Live webcams in bars across US• Social networking/mobile app overlay• Started with 2 SSU students
Westcoast Solar• Joined for “plug and play” office space,
mentoring & other services• Graduated in <1 Yr, fastest growing solar co.
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Some Current SMBC Clients
AspenAir• Air filters for residential & commercial• Saves up to 30% on your heating/cooling bill• Cleans the air better
NonProfitEasy• Software suite for managing non-profits• Comprehensive & affordable
K-Diagnostic• Revolutionary solution for sleep apnea
monitoring• Winner of 2010 Seed Round Bus Plan Comp
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North Bay Innovation Hub (iHub)
• About Us – Regional economic development organization
focused on job creation by fostering innovation, entrepreneurship and commercialization of technology
– One of 12 iHubs in the State of California– iHubs designated by GOED (Governor’s Office
of Economic Development)– Tactics:
o Foster regional collaboration to provide an innovation platform
o Leverage assets like universities, technology incubators, and federal laboratories
o Three Programs created to date, see >>>>
– Coordinated by SMBC (501c3 non-profit)– Received $200K matching grant from SBDC
Innovation
Incubation
InvestmentNorth Bay Investor Summit
CARS, CABERNET, AND CASH
10 pitches, 150+ investors
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IHub Geographic Region
Three County Region• Sonoma• Marin• Napa
North Bay iHub Partners
• Program Partners (to date)
Innovation Incubation Investment
• Supporting PartnersCity of Rohnert Park
City of Santa Rosa
City of Petaluma
Rohnert Park Chamber of Commerce
Santa Rosa Chamber of Commerce
Sonoma County EDB
Marin Economic Forum
SBDC
(more organizations are in discussion)
Innovation Program, 2011
• The Seed Round
Business Plan Competition– SSU & SMBC co-producing
– $40,000 total prize package
– Open to North Bay Entrepreneurs
– Give participants exposure (press & VC)
– 35 applicants
– 24 participants learn better business planning in workshop and received mentoring
– Grand finale Event June 1, 2011o K-Diagnostic were the inaugural winners
Collaborators are SSU and SMBC
Incubation Program, 2011
• Sprout Program– Venture Preparedness Program for Startups
– Help to achieve readiness for Angel/VC financing
○ 1:1 intensive mentoring for participants
○ (up to 60 hrs over 6 – 8 weeks)
○ Complete opportunity/needs assessment
○ Complete 18 month tactical plan
○ Introductions to funding sources
○ First 3 “Seeds” are sprouting
Do you know a candidate for our Sprout program?
Collaborators are Wavepoint Ventures and SMBC
Investment Program, 2010/2011
• North Bay Investor Summit, Nov 10, 2010– CARS, CABERNET & CASH
○ 10 companies pitched for investment○ >150 investor attendees (VC and angel)
– Partnered with North Bay Angels and Keiretsu Forum– Exotic & Performance Car Expo
○ Tesla, Lamborghini, Mercedes Gullwing. Fantasy Junction, Club Sportiva
– Wine Tasting of 5 of California’s finest cabs
NBIS 2011Nov 9
SMBC, Wavepoint Ventures, North Bay Angels & Keiretsu
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We’re Here to Help
• We are here to help startups and entrepreneurs• We have resources, programs & connections• We are helping the young innovative companies• They will create the jobs that are vital to our future
Contact: Michael Newell, Executive Director
Address: 1300 Valley House Drive, Suite 100
Rohnert Park, CA 94928
Telephone: (707) 664-6201
Email: [email protected]
Websites: www.somobc.org
www.northbayihub.org
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