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Renaissance Entrepreneurship Center - Incubator program
1. INCUBATOR PROGRAM
Affordable Professional Services for your Growing Business
Christine Hermoso | Jacquelyn Pinckney | Jankiel Rosenwald | Sovanlyna Phin |Claudia Vargas
2. Ever wonder what the business incubator market size is?
1,250incubators in the United States,
worldwide is about 7,000
93% are nonprofit organizations
6% on service businesses, serve niche market
37% on technology business
focus on economic development
3% serve manufacturing firms
12% from California
Source: NBIA
3. 13% 37%
116,000
low income to extremely low income
With more than
households
….and the needs?
San Francisco
Bay Area
California
Nonemployer Business Incubator
Source: census.gov
4. Mission History Office
Transforming Lives through Entrepreneurship
Empower the entrepreneur
capacities through the
creation of sustainable
new businesses, new
jobs
1985 Found
1990 Launched 1st non-
profit business incubator
2003 Expanded to serve
30 small businesses
SOMA
Bayview
Pala Ato
Marin
5. 96% 40% 58%
The client’s median
gross revenue
$60,000
in business
IMPACT STAT
full time 7,500business
launch, grow & succeed
Graduates remains
in business
Graduate create
two more jobs
Clients
operate a business
6. BUSINESS
MODEL
PARTNER
S
REVENUE
KEY RESOURCES
VALUE PROPOSITION
CUSTOMER
CUSTOMER
RELATIONS
CHANNEL
. CLASS/ WORKSHOP
. RENTAL SPACE
. INCUBATOR
PROGRAM
. CONSULTANT
SERVICES
LOW TO
MODERATE
INCOME
ENTREPRENEUR
. WORD OF MOUTH
. ORIENTATION
. EVENTS
AFFORDABLE
PROFESSIONAL.
DIVERSITY
.ACCESS TO NETWORK
. ONE-ON-ONE
FACILITYBUILDINGCLIENTSLOCATION
BUSINESS ASSOCIATION
COMMUNITION GROUP
FINANCIAL ADVISORS
REFERRAL NETWORK
KEY
ACTIVITIES
8. The Entrepreneurs’ Voices
60% know through Referral
100% attend one-on-one consulting sessions
60% feel satisfied with the services
80% rate workshops above average of their
expectation
What do clients think about Renaissance
Open, inspiring,
helpful, calm, creative,
multi-dimensional,
friendly, supportive,
politically correct,
encouraging
• More extended network
• More specific help rather
than general help
• Ways to engage incubator
with communities
Culture? Areas of Opportunity?
How entrepreneurs
find a business
incubator program?
Facebook
Business Association
Friends
9. SWOT
Potential network
opportunities
Professional
services for
low income
entrepreneurs
Job creation
Successful
graduates
Effective
channels for
clients’ needs
Address target
market properly
Marketing
Resources
Alignment with
the Mission
Social media as
a bridge to the
target audience
The Perceived
Reputation
Business
Diversity
Market brand &
services more
Outreach the
target
Competition
with
complementary
services
S
W
O
T
10. Areas of Opportunity
How to promote the incubator program to
outreachto the target audience?
How to increase the
effectiveness of the incubator
program?
How to create and engage
with the community?
11. to raise awareness of Renaissance SOMA
Incubator program among the Entrepreneurial community
to outreachto our target market and other partners
to improverelationship
with current and potential clients
as well as with the alumni
to have consistent marketing
management
Renaissance’s Expectations
1.
2.
3.
4.
12. How?
a great Marketing Strategy
Deliver the key message
Create eye catching Marketing collateral
Build up a 12-month Marketing plan
Utilize communication channels
13. what we came up with…
Transforming lives through entrepreneurship
RENAISSANCE ENTREPRENEURSHIP CENTER
RENAISSANCE INCUBATOR PROGRAM
Professional affordable services for your growing business
15. Flyers in coffee
shops & Social
Media
promotion
Build a strong
brand & network
– Event where
alumni, client &
community meet
Q u a r t e r l y
occurrence
OPEN HOUSE pilot program
16. Partner with schools to
create a new building
image –Academy of
Arts, College of the Arts
Innovative Ideas for
the 1st floor, a concept to
attract more of a
coworker environment
Promote the Incubator
Program from the outside,
WINDOW AD
INTERIOR
DESIGN
CONTEST
The Renaissance
Prize
17. Graduate Seal
“A product of Renaissance”
PR
STRATEGY
Leverage Alumni Network
Thought Leader,
as an ambassador
Training program
for partners’ personnel – FAQ
18. Create Facebook Group for current clients and
alumni as a way to interact and stay connected
Link account with Facebook and
tweets will automatically be updated
Update regularly
Encourage people to write more
reviews
Create an account and update
activities to engage communities
Blog their successful stories and share them
with other channels to get more interaction.
SOCIAL MEDIA
20. Metrics dashboard
Reach out to 120potential target entrepreneurs
Outreach to 2000people engage in interior design contest
Engage 36partners to reach out to 5%
Save 7h/weekfor 6 months = 168working hours
1.
2.
3.
4.
in which 10% may become Renaissance’s clients
more potential clients
5% may join a business incubator
Establisha strong community engagement
5.
21. Action Project Metrics
7 Meet up groups attended
9 In-depth interviewees
4 Meetings with clients / 1 per week
305 surveys sent out
2visits to Bayview and Marin office
22. What worked
What did not
Time-constraints due to a
short-term project
Not understanding clearly
entire constrain faced by the
client organization
Having a limited resource
and network for survey
Fixed schedule meeting every week
Clarified client’s concerns from the
beginning and throughout the process
Constant constructive feedback from
clients on work completed.
Client considered our recommendations
and has a Marketing coach to work with
the Renaissance Center for the next 6
months.
Agreement from Assistant Dean Tim
Payne on instituting an internship
program with Renaissance next school
year
Build a strong brand & network – Event where alumni, client &community have common interest
Innovative Ideas for the 1st floor, apply the 360 café concept to attract more coworker environment- Re-invent by the skills and talents of upcoming professional artists
Leverage on Alumni’s to benefit the program – Kim Chase, Little Spark MediaTraining the partner programs’ personnel, empowering them to answer FAQ about Renaissance. So that they can communicate the incubator programs benefits.
