penn state new kensington - state university of new york · *over 25 new companies since...
TRANSCRIPT
Opportunity Vibrancy
Inclusion Connectivity
Rust Belt to Brain Belt: A Central Role for Non-Research Campuses in Driving Economic Development
The History of New Kensington
The Story of East Liberty – An Example of Entrepreneurial Space & Its Effects
2013
March 2010
Nov 2013
The BeautyShoppeJan 2011
Maker Space
Co Working Space
Entrepreneurial EcoSystem
Social Entrepreneurship
TrafficEnergy/Innovation
=
Economic Revitalization
The Model for Engagement
Refine ProveNurture & Fund
The Model for Engagement
Impact of Penn State New Kensington on The City:
*Leveraged $150k into $1 million for Entrepreneurial Center*Over 25 new companies since Announcement PSU Coming into New Kensington*Developed the Corridor of Innovation*Raised over $60k to do renovations on the Corridor** 15 Building Office Facades** 3 Murals** 1 Park ** Bike Racks ** Benches
*Attracted Problem Based Research
Traveling Business
Start up
AK ValleyConferencing
Home Bound
Commuting
Idea generati
on
Faculty
Students
CommunityStaff
Investors
Goals That Hint at Roles for Non-Research Engagement
Penn State Entrepreneurial Center Sources and UsesWestmoreland County Investment - $390,000
Uses SourcesAcquisition $ 100,000 WCIDC $ 100,000 Predevelopment $ 40,000 WCIDC $ 40,000
Development (Base Building Improvements) $ 467,980 WCIDC $ 160,000 WPPSEF Loan $ 90,000 WPPSEF Grant $ 20,000 ARC Grant $ 200,000
$ 470,000
PENN STATE SEED GRANT $ 150,000Tenant Improvements $ 158,000 Penn State Grant $ 200,000 FF&E (Furniture, Fixtures and Equipment) $ 75,000 Private Contributions $ 45,000
OS&E (Operating Supplies and Equipment) $ 18,000 Northern Westmoreland Foundation $ 12,000 Total $ 251,000 $ 407,000
Entrepreneur
Why? Risk Attitude Workers Customers Competition Operating Environmen Money Time World View Success
Small Businessman
Difference Between an Entrepreneur & a Businessperson
Works Like an Artist -
Creativity Takes Time
Works Like a Clock - Time
is Money
World is Full of Problems to Be Solved
World is an Opportunity
to Make Money
Problem Solved
Profit Margins
Are Potential Collaborators and Friends
Entities that Need to Be Beaten to
Win
Open - Protect but
Share
Closed - Protect and Shield from
View
Win Some, Lose Some, Not a Main
Factor
Never to be Lost
Make A Profit to Support Employees
and Self
Bring it On -Embraces
Risk & Unknown
Avoids - Minimize Risk at All
Costs
People to be Embraced as Colleagues &
Friends
Are Employees/
Workers/ Partners
People Needing a Problem Solved
People who Generate Sales &
Revenue
Ideation- Creating Something New to Solve a Common
Problem
What?
Business - Open a Business to fill a
Need and Generate Profit
Change the World
The Corner Launchbox
Track 2: ACTIVE ENTREPRENEURS
Track 3: Connecting/Networking – Primary Audience – Coworkers, Established companies, investors, curious georgianas
PSU Students, Faculty, Staff
AlumniCommunity
Pittsburgh & Beyond
Track 1: 10-15 Week Entrepreneurial Class
Timeline of Arconic Activities• Revitalizing New Kensington
11
Volunteer Event
Bike Rack / BenchArts & Music Festival
Industry 4.0 Presentation
Corridor of Innovation
Affordable Roofing Material & Design
August 2017September 2017
September 2017Fall 2017
October 2017 Moving Forward
Traveling Business
Start up
AK ValleyConferencing
Home Bound
Commuting
Idea generati
on
Faculty
Students
CommunityStaff
Investors
Goals That Hint at Roles for Non-Research Engagement
Be the Magnet
Connect & Apply
Research
Network Be the
Regional Leader
Negotiate the Politics
Corridor of Innovation as A Learning Lab – Organizing for Impact
The Core is the non-Research Institution
Engages in the Community to Identify Issues and challenges
Manages the relationships and forms the partnerships
Facilitates creation of the vision and lead with the City/County/State
Serves as the Communicator between City and partners – academy in particular
Applies research where possible Involves students and faculty in community to
bring in new ideas and energy Creates opportunities for learning throughout
the process
Research
Entrepreneurs & BusinessPeople
New Kensington
K-16 Education/ Workforce Development
Questions?