GROW Campaign Quarterly Report: Q2 2018

111 W February One Place Greensboro, NC 27401 (336) 387-8301

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State of Our Community 2018

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What’s in Store?

2018 Retail Summit

OCT

2018 Guilford County Manufacturing Summit

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29

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Quarterly Report

Economic Forecast Luncheon

Demo Day @ Launch Greensboro

Find out more and register today at greensboro.org

August 2018

STARTING OUR OWN LaunchLab, Launch Greensboro’s accelerator program, supports entrepreneurs through the early stages of their business. Our accelerator provides a platform for education, inspiration, collaboration, and support - requiring entrepreneurs to take action and work toward achieving goals related to their business.

With the support of professionals and experts in our region, as well as leadership by our staff, LaunchLab began its 5th year in 2018. Using a traditional accelerator approach, including mentors and interns to support these companies, LaunchLab assists cohort participants as they develop their corporate and financial structure, customer definition, branding and marketing materials, sales plan, pitch deck, fundraising plan and much more.

Four years of programming has culminated in meaningful outcomes including:

160 75%

Companies

196

Entrepreneurs

Remain in business

$9.9M

73%

Women and/or Minority Owned

Capital raised by comapnies

In the first half of 2018, the LaunchLab program provided support for 14 entrepreneurial endeavors. At the end of 17 weeks, the seven entrepreneurs who started with an idea incorporated and began working toward product completion and/or first sales. Additionally, based on demand, we have added a summer session.

And finally, we’re excited to announce that our seed fund, First Launch Capital Fund, is up and ready for investments and donations.

If you have any questions about how you can invest/contribute, contact Lou Anne Flanders-Stec at 336.265.3332 or laflanders-stec@greensboro.org.

TALENT DEVELOPMENT

GROWING OUR OWN The Minority Business Accelerator (MBA) began following the 2015 Intercity Visit to Chattanooga, Tennessee with the vision to make Greensboro the nation’s No. 1 destination for minority entrepreneurs to grow and develop their business.

Comprised of 10 portfolio companies and 4 goal setter companies, the MBA seeks to foster the growth of local, ethnic minority-owned businesses and to expand the region’s minority entrepreneurial business sector.

OPPORTUNITY GREENSBORO FELLOWS PROGRAM There are 114 Fellows in the 2018 Fellows Program, which kicked off on May 30th this year. The Fellows come from 31 different universities and are currently interning with 43 organizations including business, IT, engineering, media/advertising, nonprofit, and manufacturing.

“Being involved with the Chamber’s MBA has definitely helped our business grow with strategic introductions to the Aerospace industry and other local businesses such as HAECO Americas. We work diligently to be innovative and look to diversify our business for continued sustainable growth while maintaining the flexibility to adapt to constantly changing market conditions.”

Geoff Foster, CEO/President Core Technology Molding Corporation

In addition to experiential learning through paid internships, Fellows also have opportunities in professional development, networking and mentorship with key community leaders, and social engagement. A capstone of the program is a 2-day leadership training through the Center for Creative Leadership, which they completed in mid-June.

A mission of the Fellows Program is to retain emerging talent. We have provided multiple social activities to

25,000

2017 Groundbreaking at Core Technology Molding Corporation

8.31.18

move-in date for new facility

square feet in new space with room to expand to 30,000.

encourage the Fellows to explore Greensboro as a cohort of young professionals, increasing their awareness of what our city has to offer. Through formal mentorships and networking receptions, the Fellows have made strong connections that will help them advance their careers and potentially plant roots in Greensboro.

The 2018 Fellows Program had several more events throughout July, and closed with a reception sponsored by Lincoln Financial on August 6th.

13%

FILL

GOALS

$500MM CAPITAL INVESTMENT

7,500 NEW JOBS

1,000 CHRONICALLY VACANT POSITIONS

increase in full-time employees since January 2018

$2.5MM RAISED FOR NEW VENTURES

$10MM NEW MINORITY BUSINESS REVENUE

Current clients include: BMW Manufacturing, Merck, Newell Rubbermaid, Parker Hannifin, Husqvarna, and locally, HAECO Americas.

200 NEW COMPANIES CREATED

Greensboro will be featured in 8 to 10 national or regional publications annually