StartupPB - March 2014
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Startup Palm Beach is an entrepreneur resource center and incubator located in West Palm Beach, Florida that opened in January 2014. It hosts events for startups, mentors, and investors to attract, empower and invest in local entrepreneurs. Since opening, companies involved have received over $250,000 in funding commitments and Startup Palm Beach has hosted over 60 educational and networking events. Its vision is to become the central hub for entrepreneurship in West Palm Beach by providing resources, mentorship, and funding connections to help startups launch, establish operations, and grow their businesses.
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StartupPB - March 2014
- 1. Startup Palm Beach Entrepreneur Resource Center & Incubator March 2014
- 2. STARTUP PALM BEACH Entrepreneur Resource Center, Incubator and Coworking space opened January 2014 Event driven platform for startups, mentors and investors ATTRACT EMPOWER INVEST
- 3. Economic Impact Companies received commitments of over $250,000 in funding Hosted over 60 events Educational Workshops Mentorship Programs Financing Initiatives
- 4. STARTUP PALM BEACH INITIATIVES THINK! EDUCATION BUILD! MENTORSHIP GROW! FUNDING IDEATION, INSPIRATION STRATEGY OPERATION BUSINESS PLANNING CREATION SCALE COMPETITION ESTABLISHMENT MARKETING
- 5. The Big Picture In the last 50 years we have entered the Golden Age of Innovation Every industry is getting disrupted New advancements in technology are changing the way we do business and creating new opportunities Starting a business has never been easier
- 6. State of Florida Business Friendly Modern Infrastructure Thriving Economy No personal income tax #1 Infrastructure #1 innovation #2 best state for business 15 deepwater seaports, 19 commercial airports #3 for high-tech #2 best business climate 12,000+ miles of highway #4 in attracting private equity #2 for access to capital and funding 2 of worlds busiest airports: MIA, MCO #4 in women owned business
- 9. WEST PALM BEACH Strong foundation for economic growth through entrepreneurship Support from City of West Palm Beach Economic Development Director Chris Roog is focused on promoting entrepreneurship Downtown Development Authority Raphael Clemente is an innovative thought leader, visionary and advocate Untapped Resources Business Development Board Enterprise Florida
- 10. Empowering Entrepreneurs Startup Palm Beach offers educational workshops, mentorship programs, and funding initiatives Foster creativity and design, facilitate operations and stream line ef鍖ciencies Teach the necessary skills to manage and grow small business Supporting investment through strategic introductions
- 11. Leadership Opportunity Fragmented talent pool competing for resources Lack of communication Lack of leadership Brain drain
- 12. Vision Become the centrifugal force for entrepreneurship in West Palm Beach Welcome entrepreneurs and maintain a collaborative and constructive environment for startups Create a platform for personal and professional growth for innovative and determined individuals Attract, embrace, and retain top talent Build and grow entrepreneur ecosystem
- 13. ENTITY STRATEGY TEAM STATUS INVESTMENT FUND INVEST ANGELS, VCs PROOF OF CONCEPT ENTREPRENEUR RESOURCE CENTER EMPOWER STARTUP PB ACTIVE 501C-3 ACCELERATOR ATTRACT TBD UNDER CONSTRUCTION
- 14. THINK Track Record Dozens of events Launched companies through StartupWeekend 1st Live In-Person Crowdfunding Event in South Florida Distributed > $10,000 to Startups No-Strings Attached
- 15. BUILD Track Record Opened ~3,000 square foot facility modeled after MassChallenge design, promoting playfulness, collaboration and competition between startups Hosting 5 freelancers, 10 startups, 1 non-pro鍖t 12 coworking members
- 16. GROW Track Record Member company KLEO received over $200K in funding and found a potential new employee Launched 11 companies at StartupWeekend, 3 still operating after 4 months
- 17. EVENTS Startup Palm Beach has a full calendar including lectures, round tables, networking and social events Each event is geared toward a speci鍖c purpose to foster education and professional development Events help members get connected to key resources and address their business challenges
- 18. GET INVOLVED Share your story - enter Blog Challenge Become a member Connect with others Build a business Track your progress
- 19. CHALLENGES CAPITALIZATION Business model does not support strong revenue Various revenue streams yet to be explored (pop-up retail, e-commerce) TIME MANAGEMENT Aspirational goals of making impact take time Realistically dif鍖cult to execute and manage all initiatives without fundraising and building a team CHEMISTRY We are faced with a challenge of educating, enchanting and engaging across the spectrum Politics and egos at play LACK OF EXPERIENCE Uncertainty around deliverables from meetings
- 20. Community Partners City of West Palm Beach Chamber of Commerce Downtown Development Authority Business Development Board Palm Beach Atlantic University Northwood University
- 21. Advisors Akhil Nigam, Founder, Mass Challenge Ken Klein, Director of Sales, Comcast Spotlight Sally Outlaw, Founder, Crowd Founding Academy Roy Assad, CEO, Human Growth Capital Richard Callahan, Former General Counsel, Oxbow Corporation Jere Doyle, Jere Doyle Enterprises Paul Leone, President, The Breakers Hotel