Incubator For Tech Companies Set To Open In Renoâ€™s Downtown
August 31, 2009
By staff, Northern Nevada Business Weekly
Ky Good doesnâ€™t want anyone to settle in at the new business incubator in downtown
â€œThese are entrepreneurs. I donâ€™t want them comfortable. I want them working and out of there,â€ says Good, whoâ€™s spent three years as one of the organizers of the nonprofit incubator.
Its doors open Tuesday.
The project dubbed C4CUBEâ€ â€” thatâ€™s short for â€œCenter for Unique Business Enterprisesâ€ â€” is designed to move startup technology companies as quickly as possible into successful stand-alone businesses.
About 30 companies are likely to be housed at any time in the 12,000-square-foot CUBE incubator at
Most of those companies, Good said, will call the incubator home for 15 to 36 months as they tap into services ranging from intellectual property lawyers to experts in venture capital.
Theyâ€™ll wrap up their stay when theyâ€™re ready to win backing from venture capitalists, angel investment groups or other investors.
Organizers expect the new companies will create about 300 jobs within the next couple of years.
Norman Smith, who has thirty years of management experience and launched nine companies, is executive director of the incubator.
The incubator initially will focus on companies in green and alternative energy, security and nutraceuticals, but will gradually widen its focus to include start-ups in fields ranging from phototonics to mining technologies and gaming technologies.
Set to move into the incubator as it opens are 3D Armor Systems Inc., a Reno company thatâ€™s developing systems to protect soldiers and police, and First Warning Systems Inc., a Reno company thatâ€™s working on early detection of breast cancer.
Good says heâ€™s talking with nearly 20 other possible occupants for the incubator, including a number of start-ups from out of state that are interested in moving to
Thereâ€™s no shortage of potential entrepreneurs with good ideas in northern
â€œBut,â€ he adds, â€œmost entrepreneurs donâ€™t know how to get there.â€
The incubatorâ€™s boost to new companies, many of them in high-skill, high-wage industries, will help diversify the regionâ€™s economy, says Lynn Keller, a retired gaming executive whoâ€™s among the organizers of C4CUBE.
And thatâ€™s music to Chuck Alvey, the president and chief executive of the Economic Development Authority of Western Nevada, the agency charged with developing new jobs in the Reno-Sparks market.
While much of the spotlight falls on efforts to attract new companies to the region, Alvey noted that startups also are a key source of new jobs. As skilled workers have lost their jobs during the downturn, many consider launching their own companies, and Alvey said the incubator provides a resource to begin nurturing new firms.
The creation of new companies also is music to Basin Street Properties, the owner of the office building that will house the incubator.
The company, which recently moved its headquarters to
â€œTheyâ€™re taking some risks, and weâ€™re taking some risks,â€ Good says.
â€œWe can grow together over the long-term,â€ he said.
Basin Street also is hopeful it can develop long-term relationships with companies in the incubator, Stranzl said, and itâ€™s hopeful the incubator will help create a critical mass of entrepreneurial and technological companies in northern
The incubator also will create a significant pool of downtown workers â€” 150 to 200 at a time, once itâ€™s at full operation. C4CUBE itself will have a staff of three to oversee the incubator.
The new business incubator at
Some of the participating entrepreneurs will be selected to present their plans to a group of investors Sept. 26.
The all-day Bootcamp sessions are scheduled Sept. 12 at the C4CUBE incubator, Sept. 19 at the
An all-day seminar for potential angel investors will run in conjunction with the Sept. 25 session at TMCC.
The investor day on Sept. 26 will be at
For registration information â€” either for the Bootcamp for entrepreneurs or the angel investor seminar â€” contact firstname.lastname@example.org.
ALL CONTENTS Â© 2009