Investing In Our Future
SMBC &
The North Bay
iHub
Oct 2011
Contact:
Address:
Telephone:
Website:
Michael Newell, Executive Director
1300 Valley House Drive, Suite 100
Rohnert Park, CA 94928
(707) 480-1577
www.somobc.org
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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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What does SMBC provide?
• “Plug and Play” Office Suites
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• Entrepreneurial Services
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…
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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.
• Future plans
Virtual Incubator / Entrepreneur Group
Second 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
Westcoast Solar
• Joined for “plug and play” office space,
mentoring & other services
• Graduated in <1 Yr, fastest growing solar co.
Barspace
• Live webcams in bars across US
• Social networking/mobile app overlay
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• Started with 2 SSU students
Some Current SMBC Clients
K-Diagnostic
• Revolutionary solution for sleep apnea
monitoring
• Winner of 2010 Seed Round Bus Plan Comp
NonProfitEasy
• Software suite for managing non-profits
• Comprehensive & affordable
AspenAir
• Air filters for residential & commercial
• Saves up to 30% on your heating/cooling bill
• Cleans the air better
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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
Investment
North Bay Investor Summit
10 pitches, 150+ investors
CARS, CABERNET, AND CASH
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IHub Geographic Region
Three County Region
• Sonoma
• Marin
• Napa
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North Bay iHub Partners
• Program Partners (to date)
Innovation
Incubation
Investment
• Supporting Partners
City of Rohnert Park
Santa Rosa Chamber of Commerce
City of Santa Rosa
Sonoma County EDB
City of Petaluma
Marin Economic Forum
Rohnert Park Chamber of Commerce
SBDC
(more organizations are in discussion)
Innovation Program, 2011
Collaborators are SSU and SMBC
• The Seed Round
Business Plan Competition
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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, 2011
o K-Diagnostic were the inaugural winners
Incubation Program, 2011
Collaborators are Wavepoint Ventures and SMBC
• 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?
Investment Program, 2010/2011
SMBC, Wavepoint Ventures, North Bay Angels & Keiretsu
• 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 2011
Nov 9
We’re Here to Help
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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:
Address:
Telephone:
Email:
Websites:
Michael Newell, Executive Director
1300 Valley House Drive, Suite 100
Rohnert Park, CA 94928
(707) 664-6201
michaeln@somobc.org
www.somobc.org
www.northbayihub.org
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