Category Archive: Innovation

Jan
30

SmartRegion.org on Hiatus

on hiatus test patternBrought to you by the Hampton Roads Partnership since 2008, SmartRegion.org, the blog and its accompanying monthly e-Newsletter, is on hiatus.

Stay informed with essentials for your inbox through our recommended bloggers, bookmarked organizations, the region’s communities and traditional news sources (via the website links provided on the left-hand sidebar).

Regional News:

And if innovation is on your mind, our favorites:

Questions? Contact@HRP.org.

Need to reach our former editor? She’s on LinkedIn.

 

Jan
25

Start Norfolk 2.0

Start Norfolk

Start Norfolk is a weekend-long event bringing together individuals of different mind and skill sets— entrepreneurs, engineers, developers, designers and business people—with the goal of building a viable startup over a weekend. Last November, Start Norfolk launched at the Innovation Research Park at ODU and planning is on-going for the second edition in Spring 2012.

Start Norfolk 1.0 attendees left saying:

  • “I felt like I was the Woodstock of Technology; it was legendary.”
  • “Titanic event, #2 is a must.”
  • “I don’t want to go back home to Atlanta.” 

And, during the State of the Union address this year, President Obama said, “Most jobs are created by startups.”

Start Norfolk Video

Start Norfolk Winners CircleWith your support, Start Norfolk can continue to grow the entrepreneurial and startup community here in Hampton Roads.

Review Start Norfolk 2.0 information (PDF) and be a part of the future! Official announcement of the event is February 2nd. 

For more information, contact Zack Miller at zack.miller@wearetitans.net.

More on Start Norfolk on SmartRegion.org.

Jan
25

Startups Create Most New Net Jobs

During the State of the Union Address on January 24, 2012, the President referenced this important report…

Startups Data (Kauffman Foundation)

From the Kauffman Foundation Research Series on Firm Formation and Economic Growth

The oft-quoted American sports slogan, “Winning isn’t everything. It’s the only thing!” could well be attributed to the economic importance of firm formation in creating jobs. A relatively new dataset from the U.S. government called Business Dynamics Statistics (BDS) confirms that startups aren’t everything when it comes to job growth. They’re the only thing.

By now it is well understood that firms large and small are continuously and simultaneously destroying and creating jobs. Even a mild level of this creative destructive churn points to a dynamic economy much different than static economic models can describe. However, beyond the job churn at existing firms, there is a dynamic in firm birth that seems to be very important for understanding job creation— specifically, the unique effect of new firms, or startups. Put simply, this paper shows that without startups, there would be no net job growth in the U.S. economy. This fact is true on average, but also is true for all but seven years for which the United States has data going back to 1977.

The BDS is the first publicly available dataset that incorporates the age of firms in a dynamic format (Haltiwanger, Jarmin, and Miranda, 2008). Figure 1 presents summary data from the BDS,1 showing that firms in their first year of existence add an average of 3 million jobs per year. By construction, the BDS defines an existing firm—age one up to age twenty-six and beyond—such that it can both create and lose jobs. In contrast, a startup, or age zero firm, only creates jobs because it experiences no gross job destruction. We might anticipate that the net job gain also would be positive at existing firms, but that is decisively not the case during most years on record. Notably, the figure shows that, during recessionary years, job creation at startups remains stable, while net job losses at existing firms are highly sensitive to the business cycle.

Download and read the entire Kauffman Foundation report:  The Importance of Startups in Job Creation and Job Destruction

Jan
25

ODU gets down to business

ODU Monarch Mascot in Business Suit (Inside Business)Inventors and entrepreneurs struggle to launch their ideas.

By Philip Newswanger for Inside Business, originally posted on January 13, 2012

They are flummoxed by a morass of red tape and nervous investors, who, in this weary economic climate, want an immediate return.

Old Dominion University may have an answer, or at least is offering solutions to the problem of transforming ideas into profits.

The idea, according to two ODU officials, is to marry the pursuit of knowledge, a mission of universities, with the management of knowledge, a private sector endeavor.

Tom Osha, president and CEO of Innovation Research Park at ODU, and Jerry Robertson, executive director of the university’s Gateway initiative, recently highlighted this connection between a university and inventors and entrepreneurs in Hampton.

The Jan. 5 event, called “Working with ODU in the Aerospace Center,” was sponsored by Innovate!Hampton Roads, an initiative launched by the Hampton Roads Partnership to drive jobs and the regional economy.

Osha said technology is getting more, not less, expensive, so companies must change how they do business.

ODU has an economic development role, Osha said, but it must become Read the rest of this entry »

Jan
12

Hampton Roads Entrepreneur featured in Inc. magazine

5 Tips From an Accidental Entrepreneur

Joe Hill never planned to be an entrepreneur. But once he stumbled upon a great iPad app idea for his kids, he didn’t look back.

By Jeff Haden |  @jeff_haden  | Jan 10, 2012, for Inc. Magazine

Joe Hill was told to find a market so he did—but not in the way he originally intended.

In 2010 Hill lost his job with a biotech firm, so he took what he calls “the first job available” as a financial planner.  “My new boss told me to find a market to focus on,” he says, “and since my two sons were diagnosed with autism, I decided the market I really understood was parents of kids with special needs.”

After a presentation one potential client said, “I really appreciate you talking to me about financial planning, but what I really need are affordable tools that can help my autistic son learn.” Specialized equipment costs thousands of dollars, and software runs $300 or more.

“Her comment really struck a chord,” Hill says. “My boys loved Angry Birds. They like touching objects on the TV to try and make them move, too. I knew if they could tap on words or pictures and hear them, they could learn more easily. Plus they wouldn’t stop playing with my iPhone until the battery ran out, so I knew there was something there, especially since autistic kids typically won’t sit still for long.”

He set out to develop an application that could make learning words simple and fun, and in November launched Aeir Talk, a $19.99 iPad app that lets parents create an unlimited amount of cards customized with personally recorded voices and pictures they take.

So what did Hill, a first-time entrepreneur, learn about starting a business?

If your idea doesn’t provide long-term benefits, you need a new idea. Everyone downloads what seem like cool apps they only end up using for a day. Hill changed his product a number of times during the development stage to avoid that. For example, the decision to make the app fully customizable was especially tough to make, but he realized that if a kid sees his mom’s picture he expects to hear his mom’s voice. Hill did what was necessary to ensure the app has lasting value, allowing parents and kids to really make it their own. The development cycle would absolutely have been a lot faster and a lot less expensive, but the app would also have been far less beneficial.

Think about solving broader problems. Children with special needs don’t just speak English and live in the U.S. Hill made the app language independent so if a parent wants her child to learn Spanish they simply record Spanish words. The app doesn’t care. In the end Hill built an app to help kids with special needs, but it can help any child learn. Definitely focus on a specific audience, says Hill, but never stop thinking about broader applications and markets for your product.

Always look for serendipitous relationships. Hill pitched his idea to everyone. Most people loved it but no one wanted to become an investor. Then he talked to Zack Miller at We Are Titans, a product development and consulting firm, and we struck an equity deal. Not only are they great developers but Miller is also great at making contacts and leveraging relationships. Good teams are made up of people who are different. Be open and don’t look in the normal places for partners.

You don’t know what you don’t know, and that’s okay. If you need help, the best thing you can say to someone is, “I don’t know what I’m doing. Can you help me?” People naturally like to help people. Be honest, be humble, and ask for help. When you’re willing to admit you don’t have all the answers, people respond.

No matter what you’re doing, never be ashamed of it. Hill took a job in the morning scrubbing warehouse floors and another at night carrying bags and scrubbing floors at a hotel. (He wanted jobs that allowed flexible hours so he could start his company.) Every chance he got he told people about what he was doing. Many had relatives with kids with needs. Do whatever you have to do to keep rolling, and never be ashamed of what you do. The end justifies the humble means.

Jan
11

Forum on Unconventional Advanced Materials

Southeastern Virginia Advanced Materials Partnership Forum

When:  February 28, 2012, 8:00 a.m. to 4:00 p.m.
Where: Thomas Jefferson National Accelerator Facility, 12000 Jefferson Avenue, Newport News, VA

Advanced materials are able to outperform conventional materials by exhibiting a variety of superior properties such as toughness, hardness, durability and elasticity and have applications in numerous industries.

This forum will bring together state and local governments, federal technology-based agencies, universities, industry and economic development agencies involved in advanced materials research. In addition to providing information regarding the advanced materials technologies being developed in each field of research, the event will showcase the various partnering opportunities and services available from each sector. These participants are committed to fostering technology-based economic development in the rapidly growing, Southeast Virginia area.

Learn about the unique resources available in the region. Sessions include:

  • A Breakdown of Advanced Materials Research by Industry Including Marine, Aerospace, Medical, Transportation/Infrastructure;
  • Industry “Elevator Speeches” from Companies in the Region;
  • Breakout Sessions for More In-Depth Presentations in the Subtopic Areas of Structural Materials, Electronics, and Biomedical Materials; and
  • A Tour of the Thomas Jefferson Accelerator Facility.

Participating organizations include Federal Laboratory Consortium Mid-Atlantic Region; National Institute of Standards and Technology (NIST); NASA; and Old Dominion University.

For further information, please contact: Charles Salahuddin, salahuddinc@mail.nih.gov, (301) 624-8784.

Jan
09

The year ahead: What’s in store for Hampton Roads

By Bill Cresenzo for Inside Business, posted January 6, 2012

2012 – 2011 redux? As Hampton Roads begins another year, Inside Business asked the region’s business, government, civic, educational and community leaders to give readers an idea of what they would like to see happen in the year ahead and what they expect to see.

Leaders such as Greg Grootendorst, the chief economist with the Hampton Roads Planning District Commission, who said, “The economic outlook for the coming year is likely to be one characterized by very modest growth.

“Hampton Roads remains entrenched in the process of recovering from the great recession,” he said. “The region has lost in excess of 50,000 jobs since payroll employment peaked in July of 2007; regional employment is now at the same level as it was in 2001.”

Vinod B. Agarwal, an economics professor at Old Dominion University, concurs with Grootendorst. The author of an annual regional economic forecast, Agarwal will present his findings at 10:30 a.m. Jan. 25 at the Norfolk Waterside Marriott at the annual economic forecast event. To register, call (757) 683-5138.

Agarwal said he expects the economy to pick up slightly in 2012, but it will continue to be a “jobless recovery.” While the economy might grow some, unemployment rates will remain steady or rise.

But there are other, exciting things on the business horizon. From Hampton Mayor Molly Ward to Jerry Bridges, the executive director of the Virginia Port Authority, to Dana Dickens, president of the Hampton Roads Partnership, inside this issue you’ll find what the region’s leaders believe 2012 will bring, as well as what they hope it will bring.

Recently seen on the Twitterverse:  What’s your wish for Hampton roads in 2012? See what Dana Dickens and other local leaders think. http://insidebiz.com/news/inside-business-story-257

The Year Ahead: E. Dana Dickens III President and CEO, Hampton Roads Partnership

My one wish for 2012 is that the many years of work in regional cooperation and collaboration by the Hampton Roads Partnership translate into true regional consensus, with significant results in growth and in greater diversification of the economy of Hampton Roads.

We can accomplish this if:

  • Entrepreneurs have better access to capital, supported via a multimillion dollar fund organized by investors to promote “grow your own” economic development in the region.
  • Taxpayers enjoy enhanced government services and lower taxes, supported via implementation of shared public services identified during the pilot program launched in 2011 with Virginia Beach, Norfolk and Chesapeake.
  • Local government implements improved efficiencies and savings, supported via more Hampton Roads cities – and counties – joining in shared services projects across the region.
  • Startup businesses achieve explosive growth thanks to mentors, supported via coaching provided by the region’s proven business leaders, both retired and active.
  • Growth-oriented companies realize their entrepreneurial goals, supported via a cultural shift enabled by Innovate!HamptonRoads and its “Economic Gardening Network,” a suite of high-end, high-speed business growth resources.
  • Serious networking and marketing happens for entrepreneurs, supported via successful events like Start Norfolk, active local entrepreneurs, metropolitan-focused academic institutions and the groups championing the region’s technology clusters of aerospace, bioscience, coastal energy, modeling and simulation, robotics and unmanned systems and sensors.
  • Education in STEM/STEAM moves forward rapidly, supported via the various regional efforts such as a full-time boarding school, a governor’s school and curricular/extracurricular activities for public schools tied to Virginia’s standards of learning. [STEM stands for science, technology, engineering and math. STEAM stands for science, technology, engineering and applied math.]

Jan
06

Events for Inventors on Prototyping, DoD in VA, Naval Station Norfolk’s future, Bioelectrics in Hampton Roads

The Virginia Inventors Forum meets Wednesday, January 11, 2012, 6:00 – 9:00 p.m. at Thomas Nelson Community College – Historic Triangle Campus (4601 Opportunity Way, Williamsburg, VA – Room 222) for a program featuring Dwight Dart, Design Lab Engineer from the Department of Mechanical and Aerospace Engineering at the University of Virginia on “Prototyping…and after: the importance of building a prototype, refining the prototype, and what comes next once the prototype is built.” To register and for more information, visit VirginiaInventors.org.

CREW Hampton Roads CREW (Commercial Real Estate Women) Hampton Roads hosts a Luncheon Program on “Naval Station Norfolk: The State of the Base, Current and Future Growth and Improvement Strategy” featuring Captain Mary Jackson, Commander, Norfolk Naval Air Station, Norfolk, Virginia. Join CREW on Tuesday, January 17, 2012, at Town Center City Club (222 Central Park Avenue #230, Virginia Beach, VA) from 11:30 a.m. to 1:15 p.m. SIGN UP ONLINE at CrewHamptonRoads.org or contact Jamie Richardson at crewhr@verizon.net.

Tidewater Association of Service Contractors Tidewater Association of Service Contractors (TASC) meets on January 18, 2012, at 11:30 a.m. for a Luncheon at the Norfolk Airport Hilton (1500 North Military Highway Norfolk, Virginia) featuring Stan Scott, Executive Director of the Virginia National Defense Industrial Authority (VNDIA) which advocates for our nation’s military in Virginia. The Virginia National Defense Industrial Authority (VNDIA) was established during in 2005 by the Virginia General Assembly recognizing that “a need exists for the provision of technical assistance and coordination between the Commonwealth, its political subdivisions and the United States military…” Department of Defense (DoD) spending in the Commonwealth now exceeds $57 billion annually ($5,000 for each Virginian) and accounts for 15.6% of the Gross State Product and 18.9% of jobs in Virginia. DoD remains Virginia’s number one direct employer (187,000 jobs) and indirectly supports more than 900,000 Virginia jobs. Register at TASC-TGIC.org/events/registration.php.

Join Biotech at the Beach on Friday, January 20, 2012, from 12:30 p.m. to 2:00 pm. Luncheon topic is “Bioelectrics and its use for both medical and environmental applications” with speaker Dr. Richard Heller, Director of the Frank Reidy Research Center for Bioelectrics at Old Dominion University. Location: Virginia Beach Economic Development Authority Conference Room located in the Armada Hoffler Tower at 222 Central Park Ave, Suite 1000, Virginia Beach, VA. Center for Bioelectrics (CBE) at Old Dominion University is a multi-discipline center mainly focused on translational research. Examples of research being performed at CBE will be discussed during the presentation including wound healing, cancer therapy, cardiovascular and decontamination. As always, the luncheon is complimentary, you can register to attend here. Learn more about Biotech in Hampton Roads at Arkios.com/BiotechattheBeach.htm.

Jan
05

Obstacles in Wind Energy in Hampton Roads

The Norfolk Department of Economic Development will sponsor the Coastal Energy Cluster Forum on Friday, January 13, 2012, from 11 a.m. to 12 p.m. at the Half Moone Celebration and Cruise Center, One Waterside Drive next to Nauticus.

The forum will discuss the development of off-shore wind energy and the obstacles the Hampton Roads community may have to overcome in order to become a leader in the wind energy sector.  Larry Lombardi, the Business Development Manager-Technology in Economic Development, will serve as the forum’s host.

Speaker: Jerry W. Giles Director of Finance & Managing Director Technology, Energy, & Corporate Services Team, Business Development Group Virginia Economic Development Partnership (VEDP)

For more information, please email larry.lombardi@norfolk.gov or call (757) 664-4187.

More on the Coastal Energy Cluster.

Jan
04

Financing Your Hampton Roads Business Venture-Who, What, When, Where, How

Technology Hampton Roads invites you to “Financing Your Business Venture” on  Wednesday, January 18, 2012 from 2:00 p.m. to 5:00 p.m at ECPI University, 5555 Greenwich Road, Room 360, Virginia Beach, Virginia.

This FREE event brings together fourteen financing professionals from a multitude of industries to discuss various options available to the entrepreneur to finance his or her business venture.  Done in both single speaker and panel formats, participating professionals will enlighten you about financing opportunities and will be on hand to answer questions about the numerous strategies.

Topics include:

  • Understanding Investors,
  • Valuing Owner and Investor Interests,
  • Attracting Investors and Key Team Members,
  • Negotiating the Deal, and
  • Not-So-Apparent Funding Sources.

Register at:  http://www.TechnologyHamptonRoads.org/en/cev/702

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