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The VBIA held its third regional roundtable meeting in Fairfax on September 23rd. The purpose of the meeting was to advance three concepts identified at the February 24th Roundtable, which had the potential to be undertaken and achieved within a reasonable amount of time. These include:
- The need to develop an effective business incubation matrix of business resources and contacts.
- Gain a better understanding of the resources colleges/universities have and how they can be effectively accessed and utilized.
- Enhance the coordination of efforts between incubation service providers.
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Group Discussion
Miles Friedman, President of Miles Friedman & Associates and the President of the Quantico/Belvoir Regional Business Alliance led the discuss beginning with the questions “What are the needs of the entrepreneur, the needs the incubation community needs to address?” Following a lively discussion it was determined that the following needs remain important:
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Funding and money
Technical assistance (business planning, market feasibility, web support)
Counseling (marketing, proposals, funding)
Networking and introductions
Industry expertise and focus
Ability to “vet” new ideas and viability
Support in turning ideas into viable products and services. |
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Of all the agencies providing services, perhaps the SBA and their network of Small Business Development Centers and SCORE volunteers are most connected with the public and private sector. Accountability is a built-in requirement but even the SBA admitted that with marketing, training and conferences and a free calendar of events, they often cannot meet the need of the mid-tier client. The products and services are viewed as entry level. The implied challenge: who serves the mid-tier client?
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| What are our connections and outreach? What do we have in common, what separates us? |
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Staff networks connect to the outside service community
Providers network and connect to the outside service community
Social Network – existing clients with counselors (representing time invested and target audience). Tools include: LinkedIn to promote events; Face Book; BLOG (negative feedback) and Twitter. Advantages of social networking include the fact that it is instantaneous (update schedule); interactive (three dimensional communication; and highly visual (for a younger audience);
Branding effort – essential to have a “tagline”;
Training/Events
U-tube Tutorials
Websites (proactive; user friendly; eg: SBA)
Outreach to private sector resources
Special outreach is offered in the co-location of services (a definite plus) as in the example of the Fairfax Innovation Center which is also home to the Mason SBDC and the Virginia Procurement Technical Assistance Center (PTAP).
Brochure distribution |
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| Partnering: |
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| Six regional economic development agencies were represented. Also to be included in partnering efforts were named the Chambers of Commerce; the Small Business Administration, the Virginia Employment Commission, the Procurement Technical Assistance Centers and the Small Business Development Centers among others. It was noted that the PTAP, SBDC, EDA’s, SBA, and SCORE are all a form of government resources. The challenge is to identify and invite into the process University expertise as well as the private, for profit consultants. One example of a public private partnership was that of the SBA and Best Buy – mutual clients (national program). The SBA pointed out that they frequently refer opportunities to private consultants for example Events/Speakers. SBA is a frequent speaker at Association Events. |
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| The Quantico/Belvoir Regional Business Alliance, a not-for-profit group, has been working with major construction firms (who have won large projects locally) to develop and implement training programs that target the skills needed by local contractors and workers to win business and jobs. |
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International with foreign government to bring SME to US market |
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Private Developer/Prince William County/GMU is creating the potential for yet another incubator.
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| New Forms of Outreach |
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| There are four areas of concern: (1) the need for a directory of organizations identifying key areas of focus with an established point of contact; (2) the need for dissemination of information on “events” perhaps a shared calendar. We may consider holding a special event to announce this new outreach. (3) the need for information on service providers (state, regional, county) under one address or in one place/location; and (4) the development of a shared website with search capability and linkage capability to a calendar of events. It was suggested that we should start with a “wiki” (A collaborative website whose content can be edited by anyone who has access to it). |
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| Social networking – the topic of “targeting” was discussed as very broad. Facebook (jury is out); LinkedIn (a creative way to connect used by more professionals); Online Video – YouTube – Arlington County has used it to promote the County (testimonials on website; embedded live stream in website); and List Serves - ie: National main street or an IEDC with “opt in feature”. |
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Networking – your professional groups |
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Loudoun County received an Emmy award . A video is posted on their website. |
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| Available – Partners – we need a champion. |
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Need to identify all resources (private, public, links to websites, eg: Fairfax & Arlington)
Point of Contact: directory
Events: classes and programs
Consolidate all information onto Website Database and Search Engines
Special Event for all Providers by types
Start with a “wiki” |
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| It was noted that the “SBA Small Business Guide” found on the web, and also available in print format is supported by Ads primarily from the banking community. |
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| New Opportunities/Challenges |
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It’s a new population, concerned with the Green Revolution and the International marketplace. We need to capture a “lifestyle” and turn it into a way to promote business . The baby boomers are not retiring, they are remaining employed or starting new careers.
Explore Co-Working Sites (rent by the hour; provide technical assistance as found in many incubators and Starbucks
SBA – Go Green - flyers on the Internet save trees and printing costs
Vint Hill with UVA/GMU – a partnership built (with LEEDs certified buildings, recycle, bikes, showers, and suitable to pedestrian traffic)
the Community of Reston – a sustainable community
Health & Fitness businesses (supplements)– new growth in Mom & Pop ventures
SBIC – Angels – catalyst in a new economy |
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| Summary: |
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Other partnerships need to be explored. There is an untapped market in the private market networking community. We have opened the door to discussion, let us continue. We have insight into incubators; we need to develop the support system (in place); and reinforce partnerships as the “key” to supporting our business community. There is more to do as a group (synergy). We need to educate and reach out with more training programs. VBIA has opened a dialogue. We need to continue to meet, quarterly. It is “all about people; the people we serve; and the people we work with”. |
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