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October 2, 2014

Ten Year Celebration 2004 to 2014 A Brief History of Inventrek Michael O’Hair, Ed.D. Jan Hendrix. October 2, 2014. 2000. 2001. 2002. 2003. 2004. 2005. 2006+. Our Journey Began. Launch. Grow. Assess. Plan. Operate. Conceptualize. Demonstrate. 2001. 2000. 2002. 2003. 2004.

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October 2, 2014

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  1. Ten Year Celebration 2004 to 2014 A Brief History of Inventrek Michael O’Hair, Ed.D. Jan Hendrix October 2, 2014

  2. 2000 2001 2002 2003 2004 2005 2006+ Our Journey Began . . . Launch Grow Assess Plan Operate Conceptualize Demonstrate

  3. 2001 2000 2002 2003 2004 2005 2006+ The January 2000 Challenge • January Partners in Education Meeting • Kevin Clancey, new General Director HR Delphi Electronics, told us, based on a recent trip to California, that Kokomo should have a “High Tech” incubator • Following the meeting, I discussed the idea with Greg Aaron, Director of Development for the City of Kokomo • Our next step was to visit the Purdue Technology Center at the Purdue Research Park

  4. 2001 2000 2002 2003 2004 2005 2006+ Assess • On January 13, 2000, a successful first visit was made to the Purdue Technology Center. Ruth Person, Chancellor of IUK, and Charlie Sparks, President of the KHCD, Todd Moser, Chamber President joined Greg and I on the first visit to the Purdue Technology Center • April 21, Purdue announced Statewide Partnership • In June KHDC formed first Local Focus Groups and July 1, Greg Aaron becomes President of KHDC • KHDC BOD authorized Task Force on August 11 • Executive Committee • Facilities and Finance Committee • Technology Committee

  5. 2001 2000 2002 2003 2004 2005 2006+ Assess • August 14, 2000, the Kokomo Technology Summit was held in cooperation with the Indiana Technology Partnership (ITP)--Mayor Jim Trobaugh, Scott Jones (ITP), Michael O’Hair (Purdue), Senator Steve Johnson, and Matt McKillip (Momentum) • North Central Indiana Entrepreneurship & Technology Conference held at IU Kokomo

  6. 2001 2000 2002 2003 2004 2005 2006+ Initial Task Force Decisions • The incubator would be called the Kokomo Technology Center patterned after the Purdue Technology Center. • The Kokomo Technology Center would be referred to as a “technology driven” incubator instead of “high tech” – definition not clear. • The Technology Committee was charged with identifying the core technologies of our local “technology driven” companies. We got full cooperation. • We quickly recognized that this venture was an entrepreneurial experience like any new start-up.

  7. 2001 2000 2002 2003 2004 2005 2006+ Community • On September 2000, a full bus load of community leaders toured the Purdue Technology Center at the Purdue Research Park

  8. Purdue Technology CenterGateways Program • Purdue Gateways Program • Assist University researchers in commercialization of intellectual property • Establish sound business plans • Proven model for the commercial “launching” of new firms with innovative products, processes or services • Gateways staff provided value support to the Kokomo Technology Center

  9. 2001 2000 2002 2003 2004 2005 2006+ Conceptualize February 2001, Assessment of Interest, Potential, & Resources presented to the KHDC BOD • Findings • Kokomo Niche • 1500 Patents since 1975 • Recommendations • Support Purdue Initiative • Develop Financing • Join National Business Incubator Association • Create Website • Prepare Feasibility Study

  10. 2001 2000 2002 2003 2004 2005 2006+ Plan • SBC/Ameritech $25,000 grant • Pittsburgh Gateway Consulted • Report Outcomes • Kokomo’s Potential • Benefits of Incubator • Demonstration Projects April 2002, Feasibility Analysis Report

  11. 2001 2000 2002 2003 2004 2005 2006+ Plan September, 2002 Business & Financial Plan • Facility Financial Plan • Potential Services • Human Resources • Demonstration Budget

  12. 2001 2000 2002 2003 2004 2005 2006+ Demonstrate • Memorandum of Understanding---Purdue • Federal Funding proposal—Indiana, Purdue, KHDC • Virtual Incubator (An incubator without walls) • Mentoring Team Established • Research Venture Capital and Angel Investors • Research Potential Sites • Secure Funding—City, County, KHDC, USDA • Initial gift of $200,000 from the City of Kokomo—Thank you Mayor Trobaugh

  13. 2001 2000 2002 2003 2004 2005 2006+ Demonstrate • October 3, 2003, Delphi Electronics donation agreement signed • Secure Anchor Tenant – Ivy Tech Health Sciences • November 13, 2003, dedication of the Firmin Street facility—Cold Building • November 17, 2003, Jan Hendrix hired as General Manager

  14. 2001 2000 2002 2003 2004 2005 2006+ 2004 Launch Our mission is to… focus on long-term economic growth for Kokomo and Howard County by creating new high-tech companies and supporting the development of new technologies for our existing companies.

  15. 2001 2000 2002 2003 2004 2005 2006+ Operate--Initial Strategy

  16. 2001 2000 2002 2003 2004 2005 2006+ Operate--Key Functions

  17. Kokomo Technology Center (KTC) Changes Name In an October 2004 press release, the Kokomo Technology Center announced it had changed it’s name to: The new name was derived from the word “invent,” which means to produce or contrive by the use of ingenuity or imagination, and “trek” because it takes startup companies on a journey that is sometimes difficult, and unities the two to reflect the mission and vision of the corporation.

  18. 2001 2000 2002 2003 2004 2005 2006+ Facilities • Facility Rehabilitation: • Lobby • ADA Restrooms • Shared Conference Facilities • Equipment Room • Access Control & Security • Signage • Build-outs • Roof • Main Entrance • SOP: • Lease Agreements • Building Policies • Rate Schedules

  19. Let’s Get Crackin’ 2001 2000 2002 2003 2004 2005 2006+ Promotion • Strategic Objectives • Increase Awareness • Generate Leads • Build Key Relationships • Positioning & Identity Development • Promotional Activities • Interactive Web Site • E-Marketing • Brochure • Publicity • Magazine Advertisement • Networking Events • Funding • Community Foundation • Cinergy

  20. February 2004 KHDC Board appointed Inventrek Board of Directors July 2004, Technology Park Certification approved Angel Network Mentor Network Purdue Gateways Assistance 2001 2000 2002 2003 2004 2005 2006+ OrganizationalDevelopment 2004

  21. 2001 2000 2002 2003 2004 2005 2006+ Proposed Service Delivery

  22. 2001 2000 2002 2003 2004 2005 2006+ Grow

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  32. 2001 2000 2002 2003 2004 2005 2006+ Grow

  33. Acoustic Supply Alternative Action AndyMark Beck’s Hybrids Benchmark Mechanical Brad Howe Ford Bucheri McCarty & Metz Button Chrysler Dodge Jeep Central Indiana Corporate Partnership City of Kokomo Comfort Keepers Community First Community Foundation of Howard Cty Community Howard Regional Health Coca Cola – Kokomo Dr. Tim & Dana Davis Delphi Duke Energy Dimensions Eastern Howard School Corporation First Farmer’s Bank & Trust Foresite Fortune Companies Frontline Logic Greater Kokomo Economic Development Alliance GM Hayes Bros. Haynes International Hearn Construction Howard County Humphrey Printing Huston Electric Teletec Communications IBEW Indiana American Water Company Indiana University Kokomo Ivy Tech Community College J & J Electric Kokomo Howard Cty Development Corp Kokomo School Corporation Kinder Sign Kokomo Sanitary Pottery Kokomo Perspective Kokomo Tribune Liberty Financial Lorentson Manufacturing Lowe’s of Kokomo McGogonical Merrell Bros. Mid-America Beverage Momentum, Inc. Moonlight Mold & Machine My Favorite Muffin & Bagel Northwestern School Corporation Pastarrific Nick Pate Insurance & Financial Services Prince/Alexander Purdue University R. D. Filip Reed Contracting Company Regions Insurance Rite Quality Office Supply Russell McIntrye Hilligoss & Welke St.Joseph Hospital Salin Bank SBC Schmidt Law Office Shearer Business Solutions SignPro Signs Express Dr. Charles Simons Small Business Administration Smith Financial State of Indiana Stephens Machine Synergy Integration Taylor School Corporation Tbi The Wyman Group Urban Enterprise Association U.S. Department of Agriculture U.S. Postal Service Western School Corporation Contributors

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