Transcript foodinnovation.rutgers.edu

FoodBIN 2009 and Beyond
Lou Cooperhouse
Director
Margaret Brennan
Director, Economic Devel.
Welcome!
Welcome to FoodBIN 2008 – The 6th Annual Conference of the Food
Business Incubation Network!
• Five previous Food Business Incubation Conferences Now Held:
– 2002: Rutgers Food Innovation Center
– 2003: Northeast Center for Food Entrepreneurship at Cornell
– 2004: SUNY Morrisville
– 2005: Oregon State University Food Innovation Center
– 2007: Iowa State University
– 2008: Rutgers Food Innovation Center, in partnership with
Community Food Security Coalition
• The FoodBIN conference has become the world's leading venue for
advancing best practices in food business incubation, and
identifying programs, services, and partnerships that can maximize
impacts to food and agribusinesses within regional economies
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Food Business Incubators and Innovation Centers
Differences
• Missions and Guiding Principles
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Wealth creation through microenterprise development
Redevelopment or diversification of local area
Job Creation
Promotion of economic self-sufficiency among a specific
population (i.e. women in rural areas, minority businesses)
– Technology transfer
– Development of specific industries
• Range of Services Provided
• Type of Sponsors, Stakeholders and Sources of Funding
– University-based
– Community-based
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Food Business Incubators and Innovation Centers
Similarities
• Catalyze the process of starting and growing
companies
• Provide management assistance and orchestrated
exposure to critical business, finance, and technical
support services (that may otherwise be unaffordable,
inaccessible, or unknown to the entrepreneur).
• Provides entrepreneurs with the expertise, networks
and tools they need to make their ventures successful.
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Diversifies economies
Creates jobs
Builds wealth
Creates tax dollars to stimulate local economies
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All Serving Common Clients
 Startup food companies coping with challenges such as
financing, technology, regulations, market development, and
infrastructure requirements
 Farmers and Cooperatives desiring to create new businesses
based on value-added agricultural products and/or
developing new markets for their existing commodities
 Established food companies seeking to introduce new
products and processes, access new technologies, upgrade
quality assurance capabilities, enter new markets with
branded or private-label products, and expand and improve
their operations
 Retail and Food Service Establishments seeking to improve
their operations and purchase local products
Vertical and Horizontal Client Clusters Result in Enhanced Knowledge Transfer and5
Higher Paying Jobs
What are some of the benefits if we worked
together?
• Identify best practices in incubator development, from legal structure
issues, food safety requirements, processing equipment capabilities,
etc.
• Enable new opportunities for us to collaborate on client projects,
funding sources, etc.
• Create one common resource library that we can all link to, and
eliminate unnecessary redundancies
• Create a common methodology for reporting our impacts
• Provide for annual national and international meetings, in addition to
regional workshops, and website chat rooms, “ask an expert” forums,
etc.
• Establish new venues for our clients’ products to be marketed,
distributed and sold
• Post our success stories, testimonials, and impacts via common
template that will illustrate the value of food business incubation to
our stakeholders, and to any other groups worldwide that want to
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explore the rewards of food business incubation
Food Business Incubation Network
Client and Resource Cluster Created For Food Industry Growth
NBIA &
Other
Incubation/
Entr. Orgs
Food & Ag
Trade
Associatns.
State &
Federal
Food/Ag
Agencies
Farmers
&Coops
Food
Startups
Foundation
and
Funding
Sources
Food
Manuf.
Retail&
Foodsvc
Markets
Industry
Service
Providers
Angel
Networks
and VC
Sources
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Food Business Incubation Network (FoodBIN)
Draft of Mission
To be a catalyst for the development, growth and
prosperity of food and agribusinesses by providing
university, community, and other organizations with
the resources and support needed to deliver the highest
quality services possible
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Food Business Incubation Network (FoodBIN)
Draft of Vision
FoodBIN will become recognized as the authority on
food and agribusiness innovation and incubation, and
will help to facilitate the improvement of local
economies worldwide.
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Target Audience
1. Existing Food Incubator Organizations
• To leverage the strengths of existing food innovation
organizations so they can become more effective:
– Develop best practices for food business incubation.
– Provide information, research, networking and funding resources
and opportunities to help members develop and manage
successful business incubation programs.
– Facilitate communication and partnership between food
incubators around the world through networking activities such
as the organization of workshops, seminars and conferences.
– Inform members, through FoodBIN’s online library and the
publication of regular newsletters, of the latest advancement in
the food industry by keeping abreast of trends, legislative
initiatives, development and technological advancements in the
industry.
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Target Audience
2. Developing Food Incubator Organizations
• To encourage the development of and provide support
for new and recently-formed food business innovation
centers in communities around the world
– Provide virtual forum for non-members to ask question on food
business incubation and value-added agribusiness.
– Learn from success stories, testimonials, and impacts that will
illustrate the value of food business incubation to potential
stakeholders.
– Utilize existing incubator members to mentor newly established
food incubators during the early stages of their startup phase.
– Recognize food business incubation as a valuable development
tool
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Potential Funding Sources
• Foundations/Corporations
– Private Foundations
– Community Foundations
– Corporate Foundations/Corporations
• US Government Grants
• International Grants
– May be very interested in mentoring concept
• Membership Fees
• Conference, Publications, and other fees
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FoodBIN – Potential Next Steps
• Rutgers FIC to establish initial website to create
awareness and enable development of database
• Establish Advisory Board of Directors, potentially
representing the various regions of the US, Canada,
South America, Europe, Asia, Africa.
• Develop initial short and long term operating plan and
budget
• Determine start-up funding requirements that will
maintain viability.
• Identify strategic partners and federal and international
funding sources that may subsidize development costs
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