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The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014....

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The Incubatee Presentation for the Burlington City Council June 19, 2014
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Page 1: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

The IncubateePresentation for the Burlington City Council June 19, 2014

Page 2: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

Burlington - My City

Sims, move in and build their homes, stores and

workplaces, raise their families and invite their

friends. If your city is a nice place to live, your

population will increase. If it's not, your Sims

will leave town.

45% of people leaving are aged 20–39

Page 3: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

The Economics

Company Headquaters

Cogeco Cable Quebec

L-3 Communications Wescam Inc. USA

Evertz Microsystems Ltd. Burlington

ABB Canada Inc. Switzerland

EMC2 Corporation of Canada USA

Dependable HomeTech Burlington

Boehringer Ingelheim Canada Germany

Vmware Inc. USA

Cogent Power Inc. Germany

Gennum Corporation USA

Goodrich Landing Gear Services Burlington USA

Michigan State University Center for Community and Economic Development

Page 4: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

Employment

Small businesses accounts for more than 77.7% job creation in Canada

Employment Growth by Sector

thousands2008 2009 2010 2011 2012

Growth

2008-2012

Size

2012

All industries 17,087.40 16,813.10 17,041.00 17,306.20 17,507.70 2% 100%

Goods-producing sector 4,013.40 3,724.30 3,740.00 3,804.90 3,872.00 -4% 22.1%

Agriculture 323.6 316.1 300.7 305.6 309.2 -4% 1.8%

Forestry, fishing, mining, quarrying, oil and gas1 344.6 317.9 329.4 337.2 369.1 7% 2.1%

Utilities 151.5 147.6 148.3 139.8 140.7 -7% 0.8%

Construction 1,231.00 1,160.80 1,217.20 1,262.20 1,267.50 3% 7.2%

Manufacturing 1,962.70 1,781.80 1,744.30 1,760.20 1,785.50 -9% 10.2%

Services-producing sector 13,074.00 13,088.80 13,301.00 13,501.30 13,635.70 4% 77.9%

Trade 2,684.90 2,652.20 2,677.80 2,669.90 2,643.80 -2% 15.1%

Transportation and warehousing 848.9 816.2 805.7 843.4 849.4 0% 4.9%

Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70 1,083.40 1,093.20 2% 6.2%

Professional, scientific and technical services 1,189.30 1,191.90 1,266.70 1,309.20 1,299.30 9% 7.4%

Business, building and other support services2 685 654.9 672.2 677 690.5 1% 3.9%

Educational services 1,186.30 1,188.80 1,217.80 1,219.40 1,287.70 9% 7.4%

Health care and social assistance 1,893.00 1,949.20 2,030.70 2,091.50 2,128.00 12% 12.2%

Information, culture and recreation 758.4 769.6 766 784.2 790.4 4% 4.5%

Accommodation and food services 1,080.60 1,056.60 1,058.40 1,093.40 1,102.40 2% 6.3%

Other services 748.3 787 753.5 758.7 795.3 6% 4.5%

Public administration 925.7 930.3 956.4 971.2 955.9 3% 5.5%

Page 5: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

One Simple Example

Company Employees

Cogeco Cable 550

L-3 Communications Wescam Inc. 500

Evertz Microsystems Ltd. 400

ABB Canada Inc. 300

EMC2 Corporation of Canada 251

Dependable HomeTech 250

Boehringer Ingelheim Canada 250

Vmware Inc. 212

Cogent Power Inc. 200

Gennum Corporation 170

Goodrich Landing Gear Services Burlington 146

Page 6: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

Role Models

• Ottawa• Copeland and Matthews• Rod Bryden

• Kitchener Waterloo• Lazaridis and Balsillie• Val O’Donavan• Savvas Chamberlain

• Burlington• Dieter Evertz• Nox Leavitt • James Egan

Page 7: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

Me 160 people employed = over 500 Timmy’s jobs

Page 8: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

A metaphor - City Gardens

• City provides• Land

• Fertilizer

• Water

• Gardner's provide• Seeds

• Nurturing

• Weeding

• Harvesting

Page 9: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

The Incubator Garden

• What entrepreneurs need• Work environment

• Mentoring

• Funding

• Essentials of a company

• Network - Buzz

• Pollination

Page 10: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

The Incubator - A Place to Cross Polinate

• Gladwell describes in Outliers environments that lead to success.

• The Incubator creates an environment for entrepreneurial success

• Highly efficient and economic• Office is created in one day• Facilities are beyond affordable• Eliminates the distraction of

Overhead

Those in the tech space know that “cross pollination”, the probable introductions to other businesses, professionals or ancillary services, produce economic and professional growth and returns

Page 11: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

The Entrepreneur’s Mall

• Terry Mathews incubator approach

• entrepreneur focus on product success

• Minimize distraction administering a company• Finance and Accounting• Legal and IP• Human Resources• Marketing and Communications• Sales Management• Technical Services

• What's needed, when needed

• No full time burden

Page 12: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

Fundrazr Burlington

• Community that invest in itself

• Crowdfunding locally

• Cost? $0.00

• Fee 5% - 2.5%

• Both entrepreneurial and charitable

Page 13: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

How do incubators contribute to local and regional economies

• Business incubators reduce the risk of small business failures. Historically, NBIA member incubators have reported that 87 percent of all firms that have graduated from their incubators are still in business. Source: Business Incubation Works

• Research has shown that for every $1 of estimated public operating subsidy provided the incubator, clients and graduates of NBIA member incubators generate approximately $30 in local tax revenue alone. Source: Extrapolated from data in Business Incubation Works

• NBIA members have reported that 84 percent of incubator graduates stay in their communities. Source: Business Incubation Works

Page 14: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

What do I get? Quality of Life

• A place to incubate my company

• Used to lose 15 hours/wk. commuting

• Now I ride my bike it is 5 hours/wk.

• More time for work

• More time for family

• More time for play

• More sense of community

• Contribute jobs to my community

Page 15: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

What Burlington Gets

• Little companies become big companies

• Timmy’s jobs become professional jobs

• Higher salaries = higher tax base

• Company earnings stay in Burlington

• Job footprint a fraction of warehousing

• Intensifies industry – building is vertical

• Vertical = higher tax base

• A wealthier community

• A more prominent sense of community

Page 16: The Incubatee - Burlington€¦ · Presentation for the Burlington City Council June 19, 2014. Burlington ... Finance, insurance, real estate and leasing 1,073.60 1,092.10 1,095.70

Thank You

The Gardiner

• Don Waugh

• 289-400-9991

[email protected]


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