DOUGLAS COUNTY INNOVATION CENTER L. Gregory Henley, Ph.D. The Nexxt Entrepreneur, LLC June, 2019 Table of Contents Executive Summary ................................................................................................................................................................. 4 Introduction ................................................................................................................................................................................. 5 Purpose of this Study ............................................................................................................................................................... 7 Description of Entrepreneurship Centers ................................................................................................................. 15 Business Incubators .............................................................................................................................................................................. 15 Business Accelerators .......................................................................................................................................................................... 17 Business Coworking Spaces .............................................................................................................................................................. 19 Startup Hubs ............................................................................................................................................................................................ 19 Economic Development Strategy ..................................................................................................................................... 21 Douglas County Market Area ............................................................................................................................................ 22 Economic Overview & Business Focus ......................................................................................................................... 23 Douglas County Strategic Plan and Competitive Assessment ................................................................................ 25 Purpose of Douglas County Entrepreneurship Center ............................................................................................... 26 Best Practices ........................................................................................................................................................................... 27 Executive Director and Staff ................................................................................................................................................................ 27 Mission ........................................................................................................................................................................................................ 28 Planning ...................................................................................................................................................................................................... 29 Board of Directors ................................................................................................................................................................................... 31 Board of Advisors .................................................................................................................................................................................... 32 Other Stakeholders .................................................................................................................................................................................. 32 Selecting Clients ....................................................................................................................................................................................... 34 Monitoring Client Progress .................................................................................................................................................................. 36 Leveraging Innovation ........................................................................................................................................................................... 37 Client services ........................................................................................................................................................................................... 38 Metrics ....................................................................................................................................................................................... 41 Measuring Economic Impact ............................................................................................................................................. 42 Connecting to Universities .................................................................................................................................................. 45 Summary of Interviews ........................................................................................................................................................ 45 Innovation Districts ............................................................................................................................................................. 48 The Facility .............................................................................................................................................................................. 52 Use Existing Resources ................................................................................................................................................................... 52 Buying an Existing Coworking Business ................................................................................................................................. 54 The Nexxt Entrepreneur, LLC 2 15,000 Square Foot Facility .......................................................................................................................................................... 56 Financial Model .................................................................................................................................................................................. 58 45,000 Square Foot Facility .......................................................................................................................................................... 62 Out-of-the-Box Alternative ........................................................................................................................................................... 63 Potential Funding Sources ................................................................................................................................................... 65 Sponsor Organizations .................................................................................................................................................................... 70 Recommendations .................................................................................................................................................................. 71 Conclusion ................................................................................................................................................................................ 76 Appendix A - Glossary of Terms ...................................................................................................................................... 77 Appendix B- Potential Client Selection Criteria .......................................................................................................... 79 Appendix C - Staffing – Potential Responsibilities .................................................................................................... 80 Appendix D - Metrics: Collecting Basic Data .............................................................................................................. 82 Appendix E – Additional Metrics ..................................................................................................................................... 83 Appendix F – Incubators ................................................................................................................................................... 84 Services Provided By Burson Center ............................................................................................................................................. 84 Sample Education Program: The Burson Center ...................................................................................................................... 85 Sample Education Program: Advanced Technology Development Center ................................................................... 86 ATDC Calendar of Events .................................................................................................................................................................... 90 Opportunity Hub .................................................................................................................................................................................... 91 Appendix G – Business Accelerators ...........................................................................................................................