Entrepreneur Presentation
Transcript: Private Investment: $200+ Million Public Investment: $46 Million 1,000,000 Square Feet 3,000+ Jobs Current Major Tenants: CompuWare Duke University McKinney InterSouth Partners Square One Bank Mellow Mushroom Cuban Revolution Bronto Tyler’s Taproom Saladelia Cafe The Art Institute Burt’s Bees 2,800 seat performing arts center Nederlander, the theater operator is responsible for any operating loss and has agreed to commit $250,000 to the project Total Investment: $46 Million Over 500,000 visitors in first two years (320,000 in year 2) Net Revenues over $1.2 million in 2nd year 61 sellouts and 175 events in 2nd year So, why does all of this matter? So how did we pull it off? The Future Bull City Forward Over 100 Restaurants & Shops Supporters of the Stampede Started with a Coffee Meeting Fits with ‘open-source’ mentality 60 days of free space, just bring laptop and cell phone Space surrounded by other startups, coffee shops, bars No requirements outside of using the space daily American Tobacco Central Park West Village What did we learn? The Rest Matthew Coppedge Director of Marketing & Communications The Program Three week application process, no idea how this would go $0 for marketing, outside of the creation of the web site 4,300 web hits in a six week period Hits from 40 foreign countries and 465 cities Press hits across U.S. and Southeast, overseas, and visits from elected officials including U.S. Senator. 78 startups applied for space, 15 were accepted 13 tech companies 2 healthcare/IT 6 minority/female led companies Age ranged from college student to 50 y.o. seasoned business person. The Setting Durham Bulls Downtown Highlights $1.1 Billion of investment since 2000 92% Office Occupancy Rate 99% Residential Occupancy Rate Downtown Master Plan Adam Klein Director of Strategic Initiatives Downtown Durham 12x16 blocks .8 sq miles Importance of context Great for talent, even if companies fail >Pay attention to how you network them Importance of developing a community of entrepreneurs and making it fun Value of working closely with successful entrepreneurs in your community Brightleaf Square The Future of job growth is entrepreneurial companies. Launching again in the fall Applications open July 18 Looking to attract entrepreneurs from outside the Triangle through some spectacle marketing Will begin September 16 and conclude November 18. Targeting 10-15 startups Downtown Durham A Hub for Entrepreneurs Then & Now 2011 1995 Number of Businesses 400+/- >200 *Total Employees 14,000+ >3,000 *Residential Units 950+ >100 *Residents (1.6/unit) 1,500+ >160 *Median Age 38 yrs mid-50’s *Average Salary $56,430 mid $30,000's *Median Salary $55,000 mid $30,000's Over $45,000 in in-kind support for the Stampede 27 hours donated by attorneys 15 hours donated by accountants 8 hours donated by marketers 35 hours donated by other entrepreneurs 800 hours of Chamber and DDI staff time Total of $7,000 from Chamber and almost $1,000 from DDI The Players Presented by: 90% said their perception of downtown became more positive 75% said they are more likely to launch their company in Durham 100% said they would recommend Durham to other startups looking to launch We BUILD the entrepreneurial talent pipeline by growing talent locally, recruiting talent nationally, and converting it relentlessly. Community co-working space for social entrepreneurs Run by Christopher Gergen Music Venues, Breweries & More! American Underground Designed for creativity, flexibility and collaboration A hotbed for entrepreneurs 50 startups (500 employees) within a mile 2 accelerators 2 incubators 4 universities Major shifts in entrepreneurship Laptops Cloud computing Open-source Remote workstyles. Cost of starting a tech company plummets No ‘Startup Hub’ in the Triangle Aaron Houghton Chris Heivly Taylor Mingos Henry Kaestner Christopher Gergen Dave Kellerman Joel Bush Jess Eberdt John Warasilla Janet Cowell Sen. Kay Hagan Forrest Firm Smashing Boxes Crossroads PR Triangle Business Journal Change and Course Design Kompany InterSouth Partners Historic DAP We accelerate the launch of your game and company and together maximize your chance of success Applicants from all over the country 13-week accelerator program –Joystick gets stake in company & helps to find investors at the end of program ? 4 actively seeking equity investments now 3 companies are signing leases at American Underground 5 companies are moving to Bull City Forward 4 companies previously not located in Durham have moved 3 companies launched products during the 60 days Rippple was winner of the Startup Madness competition Finger Puppet Games forged relationships with investors at Joystick Labs and NC IDEA Rippple invited to TechStars NYC for a day Carolina Theatre & Arts Council Skate Park Seed Investment & Accelerator Program Applicants from all over the country 13-week accelerator program –LaunchBox gets stake in company & helps to find investors at the end of program The Environment The
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