The Youngstown Business Incubator
Report
Contents
3
About the Brand MRI
4
Brand Category Preference Attributes
5
Top Attributes
6
Competitive Rating Module
7
Deep Expertise
8
Verifiable Track Record of Success
9
Clear Vision
10
Extensive Network of Connections
11
Generates Buzz
12
Attracts and Retains Creative Professionals
13
Risk Mitigator/Success Facilitator
14
Greatest Impact
15
All Attributes
16
Positioning Attributes & Benefits
17
Positioning Summary
18
Creative Logo and Tagline
19
Creative Brochure Cover
20
Creative Print Ad
2
About the Brand MRI
ABOUT THE YOUNGSTOWN BUSINESS INCUBATOR BRAND MRI Prodigal is pleased to present this Brand MRI report to The Youngstown Business Incubator. The ultimate goal of this report is to position your venue above your competitors in the minds of your target audience. To achieve this goal, our Brand MRI process integrates research, strategy and creative tactics to reveal your brand’s hidden strengths so they can be communicated to the marketplace. The research in this Brand MRI has been drawn from your leadership, a focus group comprised of a crosssection of your staff, an online survey of your portfolio companies and board members, TBED representatives and your local chamber’s members. Our research methodology and the strategic insights we gleaned from the research reflects the best thinking from the discipline of brand positioning and the science of behavioral economics. We are confident that this report has generated a number of insights that have the potential to help the Youngstown Business Incubator communicate more effectively with community stakeholders to increase funding and donations and generate additional partnerships. We also believe the creative concepts presented herein demonstrate how the findings of the research and the resulting strategic insights can be brought to life in the marketplace.
3
Brand Category Preference Attributes What attributes would you seek in an excellent tech-based economic development organization (T-BED), including an incubator? responsiveness track record access to funding understands technology it’s using understands regional economy quality of support services mentorship advisors access to connections funders support services key/potential customers advisors physical support/facility wi-fi access office support collaboration driver drives partnerships convener neutrality/objective expertise information resource problem solver honest broker leverages knowledge strong attendace number high number of events high number on signage cirrculation demographics of attendees static signage digital signage location of signage
visionary advocacy coalescing force/unites community solutions-oriented deadline-oriented sliding scale rent proximity to tech resources selective credible/verifiable outcomes impactful/people can see results creates jobs successful/companies graduate accelerates attracts capital creates wealth difference maker differentiator encourages innovation attracts creative class retains creative class creates community vision connected to education connected to universities access to programmers creates community tech culture disbelief suspender success broadcaster diaspora magnet pragmatic resources defined value-added defined mission
clear vision talent vibrant environment creates entrepreneural opportunity enables risk-taking risk mitigator redefines community diversifies economy local and regional impactor transforms community’s image strategic opportunity generator reduces brain-drain instills hope builds national/international reputation provides consulting services provides business plan provides market analysis provides financing provides pricing
4
TOP Attributes
TOP ATTRIBUTE UNRANKED creates community tech culture creates jobs risk mitigator/success facilitator disbelief suspender builds national/international reputation quality of support services access to expertise access to connections generates buzz vibrant physical community verifiable/successful track record clear vision attracts/retains creative class success broadcaster partnered with higher education creates wealth encourages innovation drives collaboration and partnerships access to capital domain expertise
TOP 10 ATTRIBUTES RANKED 1. verifiable/successful track record 2. domain expertise 3. clear vision 4. generates buzz 5. access to connections 6. attracts/retains creative class 7. risk mitigator/success facilitator 8. access to capital 9. creates wealth 10. encourages innovation
5
Competitive Rating Module
Competitive Rating Module
Top 10 Attributes - Ranked verifiable/successful track record domain expertise clear vision generates buzz access to connections attracts/retains creative class risk mitigator/success facilitator access to capital creates wealth encourages innovation
GLIDE Akron Braintree (Lorain Global Business County Community Business Innovation Development JumpStart College) Accelerator MAGNET Center Works 2 2*
4
5
6 4
1 2*
1
2
2
1
2
3
4
1 1
1
7
YBI 3 1 2 3 2 3 1 5 2 2
*tie
6
Deep Expertise Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 1-a 20.00%
benefit # 1-b 32.50%
benefit # 1-c 27.50%
benefit # 1-d 20.00%
YBI Internal: Companies & Board vote %
39.29%
0.00%
14.29%
46.43%
TBED vote %
41.03%
23.08%
15.38%
20.51%
0.35
0.20
0.18
0.27
Chamber vote %
combined final benefit score
Survey Attribute #1: Deep Expertise
YBI’s deep expertise in commercializing B to B software increases the likelihood of success for client companies.
YBI’s deep expertise in commercializing B to B software is specific and scarce enough to attract entrepreneurs from outside the region.
YBI’s deep expertise in commercializing B to B software means YBI is developing client companies in a market segment that will continue to grow in the 21st century.
YBI’s deep expertise in commercializing B to B software means client companies receive benefits well beyond physical amenities of the building and equipment.
7
Verifiable Track Record of Success Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 2-a 25.00%
benefit # 2-b 22.50%
benefit # 2-c 22.50%
benefit # 2-d 30.00%
YBI Internal: Companies & Board vote %
7.14%
17.86%
10.71%
64.29%
TBED vote %
5.13%
25.64%
38.46%
30.77%
0.11
0.23
0.28
0.39
Chamber vote %
combined final benefit score
Survey Attribute #2: Verifiable Track Record of Success
Because YBI has a verifiable track record of success, investors and donors know funds will have a positive impact on the community.
Because YBI has a verifiable track record of success, prospective entrepreneurs want to be part of the YBI culture of success.
Because YBI has a verifiable track record of success, the community’s mindset of what is possible has shifted.
Because YBI has a verifiable track record of success, YBI is supported by a robust network of thought leaders, investors, and client companies.
8
Clear Vision Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 3-a 7.50%
benefit # 3-b 10.00%
benefit # 3-c 37.50%
benefit # 3-d 45.00%
YBI Internal: Companies & Board vote %
10.71%
25.00%
42.86%
21.43%
TBED vote %
7.69%
12.82%
25.64%
53.85%
0.08
0.15
0.33
0.44
Chamber vote %
combined final benefit score
Survey Attribute #3: Clear Vision
Because YBI has a clear vision, YBI doesn’t duplicate the work of other area organizations and agencies.
Because YBI has a clear vision, YBI utilizes its resources effectively.
Because YBI has a clear vision, YBI attracts client companies from outside the area who share their vision.
Because YBI has a clear vision, YBI has attained a level of success that has globally changed the perception and conversation about Youngstown.
9
Extensive Network of Connetcions Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 4-a 22.50%
benefit # 4-b 30.00%
benefit # 4-c 20.00%
benefit # 4-d 27.50%
YBI Internal: Companies & Board vote %
35.71%
28.57%
10.71%
25.00%
TBED vote %
41.03%
23.08%
15.38%
20.51%
0.35
0.26
0.15
0.23
Chamber vote %
combined final benefit score
Survey Attribute #4: Extensive Network of Connections
With YBI’s extensive network of connections, client companies have access to the leading technical expertise critical for their success.
With YBI’s extensive network of connections, client companies gain access to world-class customers for their product.
With YBI’s extensive network of connections, client companies have exclusive access to the key influencers who can validate their product.
With YBI’s extensive network of connections, client companies connect with the investors and backers that match their business.
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Generates Buzz Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 5-a 17.50%
benefit # 5-b 7.50%
benefit # 5-c 12.50%
benefit # 5-d 62.50%
YBI Internal: Companies & Board vote %
25.00%
28.57%
21.43%
25.00%
TBED vote %
12.82%
12.82%
46.15%
28.21%
0.17
0.15
0.32
0.36
Chamber vote %
combined final benefit score
Survey Attribute #5: Generates Buzz
With the buzz generated about successful client companies and projects, YBI generates funding from state and federal funding sources.
With the buzz generated about successful client companies and projects, YBI maintains an active community of portfolio companies.
With the buzz generated about successful client companies and projects, YBI shifts the community’s mindset of what is possible.
With the buzz generated about successful client companies and projects, YBI attracts new business to the community.
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Attracts and Retains Creative Professionals Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 6-a 25.00%
benefit # 6-b 7.50%
benefit # 6-c 40.00%
benefit # 6-d 27.50%
YBI Internal: Companies & Board vote %
21.43%
7.14%
53.57%
17.86%
TBED vote %
30.77%
17.95%
20.51%
30.77%
0.27
0.13
0.34
0.27
Chamber vote %
combined final benefit score
Survey Attribute #6: Attracts and Retains Creative Professionals
Because the YBI attracts and retains a class of creative professionals, talented regional professionals stay in the local area.
Because the YBI attracts and retains a class of creative professionals, native professionals can return home without sacrificing their career.
Because the YBI attracts and retains a class of creative professionals, a pool of talent is available to start up new businesses that diversify the local economy.
Because the YBI attracts and retains a class of creative professionals, a pool of talent is available to attract businesses from outside the area to relocate here.
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Risk Mitigator/ Success Facilitator Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 7-a 25.00%
benefit # 7-b 20.00%
benefit # 7-c 35.00%
benefit # 7-d 20.00%
YBI Internal: Companies & Board vote %
10.71%
39.29%
35.71%
14.29%
TBED vote %
17.95%
43.59%
28.21%
10.26%
0.18
0.37
0.32
0.14
Chamber vote %
combined final benefit score
Survey Attribute #7: Risk Mitigator/ Success Facilitator
In its role as a risk mitigator and success facilitator, the YBI ensures that entrepreneurs with great ideas won’t fail because of a lack of funding.
In its role as a risk mitigator and success facilitator, the YBI lets entrepreneurs focus on product development, not basic business infrastructure.
In its role as a risk mitigator and success facilitator, the YBI brings entrepreneurs together to pursue opportunities they couldn’t attempt on their own.
In its role as a risk mitigator and success facilitator, the YBI searches for and identifies new opportunities for entrepreneurs.
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Greatest Impact Youngstown Business Incubator 1.00 0.90 0.80 0.70 0.60 0.50
0.40 0.30 0.20 0.10 0.00
benefit # 8-a 20.00%
benefit # 8-b 32.50%
benefit # 8-c 35.00%
benefit # 8-d 12.50%
YBI Internal: Companies & Board vote %
35.71%
14.29%
17.86%
32.14%
TBED vote %
38.46%
15.38%
5.13%
41.03%
0.20
0.12
0.09
0.19
Chamber vote %
combined final benefit score
Survey Attribute #8: Greatest Impact
YBI has the greatest impact on the community by building a base of technology companies that will ensure jobs in the future.
YBI has the greatest impact on the community by attracting new businesses that increase the wealth of the community.
YBI has the greatest impact on the community by creating jobs now.
YBI has the greatest impact on the community by attaining a level of success that has globally changed the perception and conversation about Youngstown.
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All Attributes Youngstown Business Incubator 25.00%
20.00%
15.00% Chamber 10.00% YBI Internal: Companies & Board TBED Combined Score/Rank
5.00%
0.00%
Deep Expertise
Verifiable Track Record of Success
Clear Vision
Extensive Network of Connections
Generates Buzz
Attracts and Retains Creative Professionals
Risk Mitigator/ Success Facilitator
1
2
3
4
5
6
7
Group#1
Group Information Survey Attribute
Chamber Attribute
Weight 25.00%
RAW Votes
Vote %
Adjusted Vote %
Chamber
Group#2
Weight
YBI Internal: Companies & Board
Group#3
Weight
TBED
25.00%
YBI Internal: Companies & Board
25.00%
25.00%
TBED
50.00%
50.00%
Vote %
Adjusted Vote %
Group Rank
RAW Vote
Vote %
Adjusted Vote %
Group Rank
Final Attribute Score
Attribute Rank
Group Rank RAW Votes
Combined Score/Rank
1
Deep Expertise
3
2.94%
0.74%
8
5
17.86%
4.46%
2
4
10.26%
5.13%
5
0.10
6
2
Verifiable Track Record of Success
7
6.86%
1.72%
6
7
25.00%
6.25%
1
5
12.82%
6.41%
3
0.14
2
3
Clear Vision
8
7.84%
1.96%
4
0
0.00%
0.00%
8
1
2.56%
1.28%
7
0.03
8
4
Extensive Network of Connections
8
7.84%
1.96%
4
5
17.86%
4.46%
2
1
2.56%
1.28%
7
0.08
7
5
Generates Buzz
16
15.69%
3.92%
2
3
10.71%
2.68%
5
4
10.26%
5.13%
5
0.12
4
16
15.69%
3.92%
2
4
14.29%
3.57%
4
5
12.82%
6.41%
3
0.14
3
5
4.90%
1.23%
7
1
3.57%
0.89%
7
7
17.95%
8.97%
2
0.11
5
39
38.24%
9.56%
1
3
10.71%
2.68%
5
12
30.77%
15.38%
1
0.28
1
102
100.00%
25.00%
28
100.00%
25.00%
39
100.00%
50.00%
6 7 8
Attracts and Retains Creative Professionals Risk Mitigator/ Success Facilitator Greatest Impact
1.00
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Positioning Attributes & Benefits Youngstown Business Incubator
Positioning Attributes & Benefits
Benefit #
Benefit Text
benefit # 8-d
YBI has the greatest impact on the community by attaining a level of success that has globally changed the perception and conversation about Youngstown.
benefit # 8-a
YBI has the greatest impact on the community by building a base of technology companies that will ensure jobs in the future.
benefit # 2-c
Because YBI has a verifiable track record of success, the community’s mindset of what is possible has shifted.
benefit # 6-d
Because the YBI attracts and retains a class of creative professionals, a pool of talent is available to attract businesses from outside the area to relocate here.
benefit # 6-a
Because the YBI attracts and retains a class of creative professionals, talented regional professionals stay in the local area.
benefit # 5-c
With the buzz generated about successful client companies and projects, YBI shifts the community’s
Picture
VOTES Benefit #
14
10
8
8
6
Top Benefit
Benefit Text
benefit # 8-a
YBI has the greatest impact on the community by building a base of technology companies that will ensure jobs in the future.
benefit # 5-d
With the buzz generated about successful client companies and projects, YBI attracts new business to the community.
benefit # 8-d
YBI has the greatest impact on the community by attaining a level of success that has globally changed the perception and conversation about Youngstown.
benefit # 2-c benefit # 5-c
Because YBI has a verifiable track record of success, the community’s mindset of what is possible has shifted.
benefit # 6-a
Because the YBI attracts and retains a class of creative professionals, talented regional professionals stay in the local area.
Picture
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Positioning Summary Youngstown Business Incubator: Positioning Position:
Positioning Statement:
Positioning Copy Points:
Positioning Narrative
Open-‐Ended Responses:
The leading change agent for the region’s high-‐tech future. Generating a buzz about their verifiable track record of success, the YBI is leading the valley to compete in the global knowledge economy. The YBI has shifted the perception of our community—in our own eyes and in the eyes of the world—by growing a base of technology companies and entrepreneurs to ensure future jobs for talented regional professionals.
• • • • • • • •
diversify the valley’s economy attract new high-‐tech businesses to the community. Reawaken the valley’s spirit of entrepreneurship Exclusive focus and deep expertise on B2B software Change the community’s mindset of what is possible Change the way people from outside view Youngstown Supported by a robust network of thought leaders, investors, and client companies. Verifiable track record of success.
Each century is marked by a technology that dominates and transforms it. In the 20th Century, the transforming technology was the automobile, and the steel needed to produce it. From the beginning, the Valley was a leader of innovation and entrepreneurship in these industries, capitalizing on the creativity and entrepreneurial spirit of its people. In the 21st century, we are being transformed by the age of information, and the tech-‐based economy it is generating. The YBI has reawakened the Valley’s entrepreneurial spirit and is creating businesses to lead us into the tech based economy, building a base of technology companies that will ensure jobs for the future, and allow talented regional professionals to stay in the area. • …YBI is one of the beacons of economic light in the region now and in the future… the financial and economic impacts created in the region are amazing! • I am a native thirty-‐something business owner with great interest in our local job pool. It is important not only my business, but my community and family, that we continue to grow as a market of opportunity for the next generation of professionals. • I am constantly amazed at all the wonderful things happening at the YBI. I'm proud that it's part of the Mahoning Valley. • It is important for the future of our valley to retain our local talent. I am constantly amazed at all the wonderful things happening at the YBI. I'm proud that it's part of the Mahoning Valley. • I believe the success of any region is dependent not only on the jobs available today, but jobs available years from now. Sustained job growth will ensure a brighter future for the Mahoning valley and should result in fewer people leaving the area and instead, will draw people back. • The future and jobs are what is important to the Youngstown area. Residents and businesses need to know that there is a future for this area, one that is technology-‐based and will generate high-‐paying jobs/careers for the residents. In addition, we will be able to keep our college graduates here and not suffer from the 'brain drain.' • YBI has a broad-‐based impact which affects the entire community, across business, education, and even health and safety of citizens. Positive results and reputation are changing the Youngstown mindset. • YBI has put Youngstown on the national map in a strong and positive manner which counteracts years of negative press and impressions. It has helped changed the narrative and perception of this place and about what is possible.
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Creative Logo and Tagline
YOUNGSTOWN
BUSINESS
I N C U B AT O R
the future re-booted.
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Creative Brochure Cover
YOUNGSTOWN
BUSINESS
the future re-booted.
I N C U B AT O R
19
Creative Print Ad
[Now] the odds for a high-tech future are stacked in our favor. The Mahoning Valley has become a center of successful tech-based entrepreneurism led by an incubator focused exclusively on growing technology companies. With a track record of launching successful companies and a growing portfolio of B2B software firms, the Youngstown Business Incubator is re-booting the future in what can no longer be called the rust belt.
For more information, contact YBI Evangelist, Jim Cossler at jcossler@ybi.org YBI COO, Barb Ewing at bewing@ybi.org
YOUNGSTOWN
BUSINESS
I N C U B AT O R
the future re-booted.
Youngstown Business Incubator 241 W Federal Street Youngstown, Ohio 44503 330.746.5003 www.ybi.org
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