springfield business incubator

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Springfield Business Incubator, Springfield, MA

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

STCC Technology ParkOctober, 1992

• Digital announces planned closing of its facility at Federal Square in June 1993. Staff at the college begin plans for the state to acquire the property and to create a technology park, thus retaining the 15 acres as an economic benefit for park, thus retaining the 15 acres as an economic benefit for the region as a location for industry.

October 1, 1996

• Real estate closing on the Federal Square property; the state-mandated STCC Assistance Corporation takes possession of the 8 buildings, 465,000 square feet. Grand opening ceremony for the STCC Technology Park held in November.

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

STCC Technology Park

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Regional Workforce and

Economic Development Issues

• Regional economic shift from large employers to small

businesses of 50 or fewer employees

• Regional loss of almost 30,000 jobs (1989 – 1994)

• Digital Equipment Corporation folds, dislocating 1,000

workers, vacating 465,000 square foot facility adjacent

to STCC campus

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Scibelli Enterprise Center

October 1999

• Springfield Enterprise Center (later renamed Andrew M. • Springfield Enterprise Center (later renamed Andrew M.

Scibelli Enterprise Center) opens in STCC Technology

Park. The SEC contains a business incubator and the

STCC Entrepreneurial Institute. The 1892 building was

renovated through a $3.8 million capital campaign,

including nearly $1 million from the EDA.

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Business

Incubation

Economic Development

Economic Development Model

Workforce

Development

Entrepreneurship

Education

Economic Development

Model

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Why an incubator?• According to the SBA, only 40% of business

startups are still in business after 6 years

• The National Business Incubator Association (NBIA) states that 87% of all companies who

• The National Business Incubator Association (NBIA) states that 87% of all companies who have graduated from NBIA Incubators are successful

• 94% of all Springfield Business Incubator Tenants (past and present) are still in business today

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Incubator Facilities

• Centrally Located Reception Area and Mail Handling Services

• Customized Leases in Suites from 375 to 2750 Square Feet

• Shared Services: Copier, Fax and Audiovisual

Equipment

• Conference Rooms, Computer Labs and Kitchen Facilities

• 24/7 Security and Parking

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

What Types of Businesses

Are We Looking for?

• Mixed Use – many technology companies

• Scalability, High Growth, Job Creation

• Demonstrate synergies with STCC Tech Park and

Academic Programs

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Business Incubator Tenants (8)

• Digital Imaging Firm – digital retouching, graphic design

• Fiscal Training Solutions - Quickbooks consulting and bookkeeping services

• Global Link Translations - interpreting and translation• Global Link Translations - interpreting and translation

• Groschopp, Inc. - motors for manufacturing operations

• ProLogic, Inc. - web to print software

• Springfield Direct Marketing - advertising franchise

• Western Mass Sports Journal - sports publication

• Wolf Engineering - prototype consulting for the aerospace, automotive and defense industries

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

• Massachusetts Small Business Development Center (UMASS) and PTAC Center

• NACCE - National Association for Community College Entrepreneurship

Business Support Organizations

Entrepreneurship

• NEBA - Consulting Center, assisting the disabled to become self-employed

• SCORE (Counselors to America’s Businesses)

• U. S. Small Business Administration (SBA) Branch Office

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

“Intellectual Capital”

Advisory Board Members

SEC Advisory Board

Individual&

Teams

Tenant Business

Development

Director

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Application Process

• Initial Consultation and Tour of SEC

• Submission of the SEC Application and a Detailed Business PlanDetailed Business Plan

• Review by the Director of the Incubator

• Interview with SEC Advisory Board Tenant Selection Committee

4 Easy Steps

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Tenant Financial Data

• SEC Business Incubator tenant combined revenues for FY 2007 were $5,892,000revenues for FY 2007 were $5,892,000

• SEC Business Incubator tenant combined wages for FY 2007 were $2,393,000

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Financial Impact

• The combined yearly revenue of all SEC

tenants and graduates is estimated to be

$13,000,000.$13,000,000.

• Approximately 250 workers are employed by

past and present Springfield Business Incubator

Tenants.

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Collaborations

•WNEC - Law School

•UMass Amherst – Family Business Center

•CBT - translations

•WMEF – DCD

•Internships - Western Mass Sports Journal

•Partnership agreements between tenants

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Assessment and Programs

•New Tenant, Annual and Exit Surveys

100% of incubating tenants answered that the 100% of incubating tenants answered that the

SEC gave their business a better chance to be

successful

•Customized programming:

Sales and Marketing Roundtable

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

•“Having multiple eyes, ears and brains looking

over situations with me has put me at ease with

my growth potential.”

Tenant Quotes

•“The support from the advisory team has

been invaluable.”

•“Without active participation form the board, the

center is just a nice landlord.”

•“We would not be in business today if we were

not at the SEC.”

Andrew M. Scibelli Enterprise Center

Springfield Technical Community College

Deb King

(413)755-6109

Contact Information:

(413)755-6109

Dking@stcc.edu

www.springfieldincubator.com