Colorado SBDC Technology Strategic Plan
2015 – 2018
V4 - Rev 9/5/16
The Colorado SBDC Network is seeking the Technology accreditation during the review of the entire network accreditation review. Integral to the full Colorado SBDC Network program, Technology is one of six goals identified in the Colorado SBDC Network Strategic Plan – focused on (1) continuing to provide and to expand specialized expertise to technology ventures in Colorado, as well as building a robust program of specialized technology support for all business, and (2) achieving the Technology designation, both of which will increase the SBDC’s value to Colorado technology sectors (a key focus of our stakeholders) and ultimately, will elevate the stature of the SBDC network within the entire Colorado community.
Purpose, Vision and Mission
These governing principles of the Technology Strategic Plan align with those of the entire Colorado SBDC Network.
· Purpose: The purpose of the Colorado SBDC Network Technology Program is to offer business consulting and training that maximizes the economic potential of (1) technology entrepreneurs and (2) all entrepreneurs through the use of technology.
· Vision: The vision of the Colorado SBDC Network Technology Program (SBDC Tech Source) is to be the premier, trusted choice of (1) technology businesses and (2) all businesses, for technology and specialized consulting, training and resources in the State of Colorado.
· Mission: The mission of the Colorado SBDC Network Technology Program (SBDC Tech Source) is to help (1) existing and new technology businesses and (2) all businesses to grow and prosper.
Background and Evolution of the Colorado SBDC Network Technology Program
The current Colorado SBDC Technology Program started over 10 years ago when scientists, engineers, technology entrepreneurs and many other types of businesses contacted SBDC’s in the state, asking for help. Requests came from technology businesses looking for assistance in taking their product or service to market or looking for an understanding of the business side of technology before they met with potential investors (especially along the Front Range, near research labs and universities.) Requests came from all types of business throughout the state that recognized the need to use technology to enhance their growth and success. In the early roots of the Technology Program, the Centers just tried to respond to the needs of businesses in our communities through internal, generic business support, by referral to online resources and by referral to outside resources in Colorado and nationally. The businesses continued to return and ask for assistance, showing that they were not getting the support they were seeking elsewhere and that the SBDC network may have a role in Technology assistance.
Throughout the evolution of the Technology Program, Center Directors and stakeholders used formal and informal processes to identify market needs, gather data from businesses, partners and stakeholders and analyze many factors before moving forward. Was the demand sizeable? Does/could the SBDC have the expertise and resources to provide the assistance? Does this opportunity align with our key stakeholders? Instead of developing new programs and services, are there alternative programs to SBDC that we can partner with or refer to? As requests from clients continued and evolved, and as the network understood the demand better, responses to these questions led to pilot initiatives, detailed below – that became input to the continuous learning process.
The Colorado SBDC Network Technology Program has evolved through many stages and is still doing so. As is common in our network, at the Center-level, Directors developed expertise both internally and externally to respond to business needs expressed in their market areas. High-caliber specialized expertise was tapped from professionals in our communities – as input to strategic/tactical planning and as consultants and presenters -- both volunteer and paid subject matter experts. Directors received professional development training (ASBDC conferences, technology commercialization certification, specialized training) to provide better assessment and counseling. At both the Center-level and at the Lead Center, relationships were built with strategic partners – industry organizations, specialists at colleges and universities, for-profit business specialist and other resources. As funding and other resources permitted, still at a Center level with support from the Lead Center, pilot programs were tested (see list below.) These many pilot initiatives provided further results and findings as input for our continuous learning process and strategic conversations. Businesses attended the SBDC continually-improving programs and highly rated both the training and consulting assistance. The demand for and response to the SBDC Technology Programs were analyzed and became building blocks for the next phase. It is important to note that Colorado has an existing program and it is deployed in pockets. Our goal is to streamline the activities that have been taken place and role into a statewide fully deployed program.
Pilot Programs that are the foundation for Technology Program (2009 – ongoing)
TECHNOLOGY CONSULTING
Technology Inventory Survey Center-level
The results of this survey show Technology consulting services currently being produced at Centers throughout Colorado which provide technology support to all businesses.
Specialized Consulting for Technology Ventures Center-level
Specialized Technology consulting assistance (including SBIR/AI grant consulting, technology commercialization) has been available at the Boulder Center since 2008. Boulder SBDC has built a team of consultants and subject matter experts that are available, as-needed, on a limited basis, to assist small technology businesses. In the past, Centers have collaborated with Boulder, referred tech clients to a Center or tapped the same consultants and contracted with them directly.
SBDC Advanced – Economic Gardening program Statewide
In 2013, the Colorado State Legislature funded a 3-year Economic Gardening Pilot program. The Boulder SBDC, because of multi-year track record science & technology and more advanced companies, took on the role of Team Leader, expanded its Mentor Network, and delivered this advanced programming statewide to 20 2nd-stage businesses (over $500k in revenue, over 5 employees, poised for growth.) The SBDC Advanced – Economic Gardening Gold level program has been renewed for the Federal 2017 Fiscal Year. Learning from this consulting program, which included tech companies, will be used to further improve tech consulting throughout the state.
TECHNOLOGY TRAINING AND PROGRAMMING
Technology Inventory Survey Center-level
The results of this survey show Technology workshops and programs currently being produced at Centers throughout Colorado which provide technology support to all businesses.
Colorado Emerging Ventures (CEV) Center-level
In 2009, the Federally-funded Colorado Emerging Ventures (CEV) Pilot program was launched to provide training and consulting to assist advanced industries (aerospace, bioscience, IT, cleantech, advanced manufacturing) in Boulder County and along the Front Range. Training was a monthly 2-hour breakfast on topics including the SBIR/STTR, Access to Capital, Channel Strategies, How to Build Your Sales Team and Business Valuation. Participants were introduced to the presenters, who were SBDC consultants; many converted to a consulting relationship with the Center. What was learned in that 2-year Pilot program, has informed program development for tech companies.
Small Manufacturer’s Advantage (SMA) Statewide
Based at the North Metro SBDC, Small Manufacturer’s Advantage (SMA) is a partnership program providing integrated support to small manufacturers across Colorado by leveraging the coordination of Manufacturer’s Edge, the Colorado Small Business Development Center Network (SBDC) and other partners. Several of the client companies are focused on tech and innovation.
UNC BizHub Collaborative Center-level
Based in Northeast Colorado, the focus of this incubator is on four industries: oil and gas, agriculture & agritourism, manufacturing and health & wellness. BizHub offers entrepreneurial services to Colorado companies, including: business coaching (using GrowthWheel,) Speed to Capital, Live Plan, and Business Design workshops. Several of the client companies are focused on tech and innovation. In addition to their key team, BizHub matches specific clients with technology specialists at northern Colorado universities. Also, technology has become key in the delivery of services in the region due to the distances involved. All BizHub clients have to be SBDC clients. The UNC BizHub is managed by the East Colorado SBDC Director.
SBIR Roundtables Center-level
In 2014, Boulder SBDC collaborated with the SBA District Office, and moderated an SBIR Roundtable Discussion with 10 2nd stage SBIR tech companies. SBA Regional/District partners joined the conversation to identify challenges facing SBIR recipients and any solutions that may assist. Technology commercialization, as well as the DCAA audit process were high on the list. Many of these businesses returned to SBDC to tap into specialized consulting and program assistance to overcome these challenges.
In 2015, SBA Deputy Administrator Doug Kramer met with Colorado tech companies to understand challenges firsthand. In August 2016, SBA Administrator Maria Contreras-
Sweet visited Colorado tech companies and expressed support for renewal of the roundtables. The plan will be to host representatives from SBA and SBIR Agencies to share information with Colorado tech companies and to get direct feedback from businesses about challenges they are facing and effective actions that may be suggested.
Technology Venture Series Center-level, now expanding
From 2014 through the end of 2016, JPMorgan Chase Foundation sponsored the TechVenture series’ (a total of six series completed in Boulder – 8 companies each cohort; with a series scheduled Fall 2016 in Boulder and at a new venue in Colorado Springs.) Technology Venture is a peer group of tech founders and C-level execs who meet monthly in a facilitated group (with content specialists seeding the conversation with good data,) discuss challenges they are experiencing and look for creative solutions to help each other overcome hurdles to growth. Prime topics are business development (a challenge to the engineering culture) and technology commercialization. Most of the attendees are current or past SBIR recipients. In addition to the peer group, the specialist consulting team works with each business and delivers the SBDC Advanced consulting program – market research to identify and size opportunities, strategic conversations about each growth path and a Business Model Canvas exercise to help the founder and team come to decisions and create a Growth Action Plan. Program has been highly rated by participants.
Trout Tank Center-level
Denver Metro SBDC developed and produced this well-received program in collaboration with other partners (i.e. Rockies Venture Club); access to capital is the topic. The program begins with a several-month training process, alongside other entrepreneurs, learning the art of a good pitch and how to make their business more attractive for investment. The program culminates as businesses pitch their ideas to a group of investors and others. Client companies may be focused on tech and innovation. Client companies from all centers and across Colorado are encouraged to apply and have taken advantage of the program.
Colorado Emerging Ventures SBIR/Building for Growth Breakfast Series Regional-level
In 2016, Guaranty Bank is sponsoring the 5-part Colorado Emerging Ventures SBIR/Building for Growth Breakfast Series (as described in the 2009 pilot program, above.) Our first session was held early May 2016, entitled “Top 10 Mistakes to Avoid in the SBIR World: Ensuring Success in Proposals & Performance.” Stephanie Amend of Arrowhead Solutions – part of the Colorado Technology Specialist Team - presented to 22 target businesses and received high performance evaluations. Four other sessions complete the 2016 program.
Contract Opportunities Fairs Regional-level
Several Centers in Colorado produce these programs. Using Boulder’s as example: SBDC has been producing the events since its pilot in 2008. In Boulder County, the event includes sessions on SBIR/STTR opportunities for tech companies, as well as contract opportunities for all types of business, including tech. Agency exhibitors/speakers have included DoD, EPA, GSA, Ball Aerospace, Lockheed Martin, United Launch Alliance, NREL, NIST and other labs, as well as local and state procurement. Pre-scheduled matchmaking gives businesses access to reps they may have a hard time reaching themselves. Certifications for WOSB, 8a and other are explained. Follow-up consulting provided on all topics. The Colorado SBDC Network does several statewide events including Women’s and Veteran’s Conferences, all of which may help tech companies.
Other Programs and Partnerships
The Grand Junction SBDC has been housed within and partnering with their incubator for over 10 years. The Larimer County SBDC is now housed within and partners with Innosphere, an incubator in Fort Collins. In addition, the Pikes Peak SBDC based in Colorado Springs, in collaboration with regional and state partners, is building a Cyber Security Hub that will have national focus. The West Central SBDC is launching a rural incubator, in alliance with its host college and regional partners.
Strategic Decision to Build Statewide Technology Program
As indicated above, pilot programs that were launched on local and regional bases (and now with SBDC Advanced and others, statewide) were showing very successful outcomes and were leading to more collaboration between the Centers and with other strategic partners. The Colorado SBDC Network continued to analyze the unmet need in the market. Although other organizations produced technology training intermittently and in specific markets, none were statewide and few consistently provided high-level programs that businesses could count on (as expressed to us by ED partners.) New accelerators and incubators targeted technology companies, but did not provide the same assistance as SBDC. Tech businesses currently working with accelerators (especially to qualify for angel and VC funding) still came to the SBDC for support they had not received – including business growth and commercialization and specifically, SBIR/STTR support.
The goals of our stakeholders have increasingly become aligned with the Colorado SBDC Network’s focus on Technology. Stakeholders – including the State of Colorado Office of Economic Development & International Trade (OEDIT) – which reports to the Governor and hosts our statewide network -- and many local and regional partners now recognize the support of technology and innovation in their stated economic development goals.
With improvements to internet access statewide, businesses have been introduced to the benefits of technology usage in all facets of operations and marketing. While internet communication and channel strategies have opened doors for rural enterprises, entrepreneurs in small towns in Colorado have expressed the need for better and faster internet access to keep them competitive with urban centers.
The network and several Centers has seen increased success with funding support for technology programs and services (WIRED grant, State of Colorado, JPMorgan Chase Foundation, SBA Supplemental Funds, other banks and sponsors.) Resource partners (foundation, government, private sector funders, grant and contract agencies, for-profit companies, strategic partners) have provided a base of support for Technology Programs in Colorado.