springfield business incubator
TRANSCRIPT
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
www.springfieldincubator.com