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Entrepreneurial Partnerships Susan Leiken

Entrepreneurial Partnerships Susan Leiken. Entrepreneurship Innovation Center. LCCC: A Comprehensive Community College. LCCC’s Four Cornerstones.

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Entrepreneurial Partnerships Susan Leiken

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  1. Entrepreneurial Partnerships Susan Leiken

  2. Entrepreneurship Innovation Center

  3. LCCC: A Comprehensive Community College LCCC’s Four Cornerstones Lorain County Community College, an innovative leader in education, economic, community and cultural development, serves as a regional catalyst for change in a global environment through accessible and affordable academic and career-oriented education, lifelong learning and community partnerships. Education Economic Community Cultural

  4. Six Strategic Priorities • Raise the community’s participation and attainment in higher education • Prepare globally-competent talent to compete in the innovation economy • Accelerate business and job growth to enhance regional competitiveness • Connect Lorain County with regional priorities and partners • Serve as a catalyst for enhanced community life • Build the College’s resource capacity

  5. Manages the talent supply chain by offering services needed by employers and workers alike and is an integral part of Lorain County’s Workforce Development System. Lorain County Growth Partnership created a system for helping businesses with talent development needs by leveraging the assets of multiple organizations: This system creates a county-wide approach to meeting workforce development needs of local and regional businesses.

  6. A Decade of Building an Infrastructure to Create Jobs

  7. Based upon the concepts of Dr. Neil Gershenfeld, the Director of the Massachusetts Institute of Technology's Center for Bits and Atoms • A collection of commercially available machines – manufacturing to the desktop level • Offers tools needed to "conceptualize, design, develop, fabricate and test” a wide variety of products

  8. Showcase • A partnership between LCCC, Lorain County Chamber of Commerce, Lorain County Commissioners. (2001) • Designated as an Edison Center Technology Incubator (June, 2006); only one on a college campus in Ohio • Focus: To support and grow entrepreneurs and companies to create and retain good jobs in Northeast Ohio. • Coaching/Mentoring: Helps wrap good business growth strategies around technology ideas • Led by Accomplished Business Professionals and Serial Entrepreneurs • Partner in Regional Economic Development Priorities

  9. A Decade of Impact (2001 to 2011)

  10. ECONOMIC The LCCC Foundation Innovation Fund provides financial support to entrepreneurs and emerging businesses to turn good technology ideas into viable businesses, while creating entrepreneurial educational opportunities for students and faculty. • Funding Levels: • Grants up to $25,000 – Imagining Stage • Pre-Seed Awards up to $100,000 – Incubating Stage • Contributions to Innovation Fund are tax-deductible • Unique – LCCC Foundation is the only entity in the nation with a Private Letter Ruling for this purpose • Located in Northeast Ohio 21-county region • Involved in development of new technology in high-growth industries • Business/Technology is at Proof of Concept / Start-up Phase • Provide Educational Experience for Student(s) • Receive professional mentoring through GLIDE/NEO, Inc. • Agree to a Fund Replenishment Right if business is successful

  11. Entrepreneurship Innovation Center Conceptual Drawing (Sensors/Microsystems Advanced Packaging and Reliability Testing) in partnership with Cleveland State University’s Wright Center for Sensors Systems Engineering Research Development Commercialization Application • Vision: • Reduce the cost and risk associated with the development and commercialization of micro systems by adding regional infrastructure and capability that universally supports a wide variety of applications, specifically addressing gaps in: • Advanced Packaging: integration into a system for specific application • Harsh Environment Reliability Testing: performance during field of use • Advanced Component Life Simulation: understand failures and life span

  12. Expanding Partnerships Earliest Stage Pre-Seed Support Activity Impact 4,995 $62 mil inquiries follow-on funding 625 >150 applications internships 97 awards 167 jobs 84 companies $57k average salary $5.675 mil value of awards

  13. CHALLENGES • ADMINISTRATION CONFRONTED WITH: • FUNDING SOURCES • AVAILABILITY OF SKILLED TRAINERS • AVAILABILITY OF PERSONNEL WITH BUSINESS ACUMEN • BALANCE BETWEEN BUSINESS ENTREPRENEURIAL EXPERTISE AND COLLEGE ENVIRONMENT

  14. DISCUSSION How are SHORT CYCLE HIGHER EDUCATION institutions cooperating with industry and other social partners? Is SHORT CYCLE HIGHER EDUCATION Level 5 the key to preparing students in acquiring employable skills, and in fostering entrepreneurial opportunities on campus? What are the obstacles that impede the progress of developing relationships between Institutions of SHORT CYCLE Higher Education and Industry?

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