Incubating Successful Businesses in Napa Carol Kraus Lauffer Partner Business Cluster Development Innovation Napa Valley October 17, 2012 Carol Kraus Lauffer.

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Presentation transcript:

Incubating Successful Businesses in Napa Carol Kraus Lauffer Partner Business Cluster Development Innovation Napa Valley October 17, 2012 Carol Kraus Lauffer Partner Business Cluster Development Innovation Napa Valley October 17, 2012

© Business Cluster Development – All Rights Reserved 2 Incubators are Economic Development Engines  87% of all graduate firms are still in business after 5 years  Survival rates of U.S. startups after 5 years = approx %  84% of graduates stay in community Source: NBIA FAQ -

© Business Cluster Development – All Rights Reserved 3 What is Business Incubation?  Accelerates successful development of entrepreneurial companies  Provides an array of business support resources & services  Features support & services provided by incubator management & its network of contacts Source: NBIA

© Business Cluster Development – All Rights Reserved 4 What Makes an Incubator Successful?  Clear mission/focus  Local champion/community support  Detailed business plan & budget  Effective programs  Sustainable funding model  Strong management team

Incubation in Napa Trellis Napa Valley will assist with the start-up and growth of entrepreneurial businesses creating innovations in the wine and food industries and other technologies, thereby creating jobs and wealth for the Napa Valley and leveraging the globally recognized Napa Valley brand. © Business Cluster Development – All Rights Reserved 5

6 Building Successful Companies  Mentoring/coaching  Resource network  Connections to industry professionals  Access to capital  Partnerships with Napa Valley College, Sonoma State, UC Davis, Napa SBDC, Napa Chamber

Economic Impact  Contribute to economic vitality  Create and retain jobs  Economically diverse workforce  Opportunities for Napa residents to work in Napa  Strengthen existing sectors, create opportunities for new sectors © Business Cluster Development – All Rights Reserved 7

What’s Next  Complete, detailed business plan currently under development  More than 25 stakeholders interviewed  Plan ready early November © Business Cluster Development – All Rights Reserved 8

9 Contact Carol Kraus Lauffer Business Cluster Development (650)