sp1 september 24 2012 city council presentation 9.24.12

Economic Development is City Council Priority

• #1 Priority for 2012

• Council goal for 2013

• Economic Development Plan adopted May 2012– 1. Retain, expand, and attract businesses, emphasizing Innovation; – 2. Nurture Entrepreneurship in Evanston; – 3. Create jobs and Workforce Training – 4. Promote Evanston, locally, regionally, and nationally, as an innovative and progressive place by

reinforcing the strengths of our diverse residential, educational, cultural, and business communities.

TIC is an Economic Development Partner

• 501c3 non-profit corporation

• A community of entrepreneurs bringing innovation to market

• Supports the growth of very early stage technology-based businesses.

• An entrepreneurial business environment that fosters collaboration and sharing among young companies, while respecting the independence and self-reliance that motivates entrepreneurs.

• A community with a culture that supports risk taking, invention and the creation of wealth.

TIC Helps Companies Launch to Growth Stages

TIC offers a number of services including– Business Planning– Business Mentoring– Legal Clinics– Seminars– Networking Events– Access to Northwestern University faculty and student interns– TIC offers short-term leases and flexible space options– Infrastructure (e.g. digital telephone, broadband)– Amenities include conference areas, reception, mail and

kitchen facilities

TIC Has Long History of Launching Successful Companies

• The TIC has served over 350 technology startups since its founding

• Approximately 25 firms have expanded in Evanston upon graduating employing nearly 500 people.

• While some are well known, including Peapod and Illinois Superconductor (ISCO), others are growing rapidly and attracting attention, including Leapfrog Online, Aginity, and Vibes Media.

TIC’s Success Has Been Recognized Internationally

• Forbes.com named TIC one of the “Ten Technology Incubators Changing the World” in 2010.

• TIC was named “Business Incubator of the Year” in 1997 by the National Business Incubation Association.

• TIC partnered with the Japan External Trade Organization (JETRO) for 10 years.

TIC Creates Jobs and Supports Local Businesses

2012 Survey of Incubator Companies

 Total

CompaniesTotal

Responses

Total square

feetEmployees - Full Time

Alumni Companies in Evanston 28 16 106,600 492

Current Incubator Companies 34 27 25,165 94

Totals 62 43 131,765 586

• TIC companies use local accountants, bankers, lawyers, consultants, etc.

• TIC entrepreneurs shop and eat in Downtown Evanston

TIC Planned Improvements for 2013

1. Marketing consultant hired to improve public relations, image, expand social media presence

2. Corporate Board Expansion

3. Launching an Investment Fund – Evanston Business Investment Corporation (EBIC III)

4. Expanded Evanston Maker Faire 2013

Seminars for Local Entrepreneurial Community

Seminars for Local Entrepreneurial Community

Seminars for Local Entrepreneurial Community

International Ceramics Conference Panel

Business Plan Competition

Visiting Educational Tour Groups - Japan

International Visit - JETRO

International Visit - Africa

Educational Tours

Educational Tours

Maker Faire

• 3D Printing

Maker Faire

• Chicago Children Museum exhibit