Lou Cooperhouse Rutgers FIC Field Trip

50 %
50 %
Information about Lou Cooperhouse Rutgers FIC Field Trip
Business-Finance

Published on December 8, 2008

Author: aSGuest5675

Source: authorstream.com

:  Rutgers Food Innovation Center Partners for Growth From Concept To Commercialization Conference Field Trip - October 5, 2008 Agenda for Today : 2 Agenda for Today Presentation Business Incubation Overview CFSC – FoodBIN 2008 Conference Overview Rutgers Food Innovation Center Overview Introductions Lunch and Networking Rutgers Food Innovation Center Facility Tour Regroup and Q&A Business Incubation Overview : 3 Business Incubation Overview Business incubation is a business support process that accelerates the successful development of start-up and fledgling companies by providing entrepreneurs with an array of targeted resources and services. Services are usually developed or orchestrated by incubator management and offered both in the business incubator and through its network of contacts. A business incubator’s main goal is to produce successful firms that will leave the program financially viable and freestanding. These incubator graduates have the potential to create jobs, revitalize neighborhoods, commercialize new technologies, and strengthen local and national economies. Business Incubation Overview : 4 Business Incubation Overview Incubators vary in the way they deliver their services, in their organizational structure and in the types of clients they serve. Highly adaptable, incubators have differing goals, including diversifying rural economies, providing employment for and increasing wealth of depressed inner cities, and transferring technology from universities and major corporations. The earliest incubation programs focused on a variety of technology companies or on a combination of light industrial, technology and service firms – today referred to as mixed-use incubators. However, in more recent years, new incubators have emerged targeting industries such as food processing, medical technologies, space and ceramics technologies, defense, arts and crafts, and software development. Incubator sponsors have also targeted programs to support microenterprise creation, the needs of women and minorities, environmental endeavors and telecommunications. Incubator Client Services Vary : 5 Incubator Client Services Vary Entrepreneurship Development & Networking Business Planning, Milestone Tracking, Mentoring Marketing, Product, Manufacturing Strategy Access to Finance, Accounting, Capital Access to Customers Access to Academic Resources Grant Training & Writing Support Seed Funding/Cost Sharing Navigation through Government Agencies Access to R&D, Prototyping, Quality Assurance Licensing, IP and Corporate Governance Regulations and Compliance Support Workforce Development &Training Laboratory Space Professional Business Environment Office services & equipment Conference rooms Flexible, affordable leases Business Incubation A Proven Model for Business Growth, Economic Development and Community Revitalization : 6 Business Incubation A Proven Model for Business Growth, Economic Development and Community Revitalization 7,000 business incubators exist worldwide (NBIA), including over 1,400 in North America Providing expertise, networks and tools that entrepreneurs need to make their ventures successful Very few incubators focused on food industry Rutgers FIC believed to be unique model worldwide Contribute substantial ROI to their communities Business incubators reduce the risk of small business failures. Historically, NBIA member incubators have reported that 87 percent of all firms that have graduated from their incubators are still in business. NBIA members have reported that 84 percent of incubator graduates stay in their communities Research has shown that for every $1 of estimated public operating subsidy provided the incubator, clients and graduates of NBIA member incubators generate approximately $30 in local tax revenue alone. :  CFSC – FoodBIN 2008Conference Overview FoodBIN 2008 – The 6th Annual Conference of the Food Business Incubation Network! : 8 FoodBIN 2008 – The 6th Annual Conference of the Food Business Incubation Network! Rutgers FIC Organized First Conference on Food Business Incubation 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, funding sources, and partnerships that can maximize impacts to food and agribusinesses within regional economies Food and Agribusiness Incubation – A Catalyst for Regional Economic DevelopmentMonday, October 6, 11:15am – 12:45pm : 9 Food and Agribusiness Incubation – A Catalyst for Regional Economic DevelopmentMonday, October 6, 11:15am – 12:45pm Presenters: Lou Cooperhouse, Director, Rutgers Food Innovation Center Ron Tanner, VP, National Association for the Specialty Food Trade Description: This session will identify best practices in food business incubation, goals and types of services that can be provided, and the unique needs for incubation programs that focus on the food and agricultural sectors. Examples of award-winning specialty food products will be identified, developed by entrepreneurs in communities across America, which serve to illustrate the keys for success in the food marketplace that must be met by industry startups. Food Business Incubation – One Size Does Not Fit AllMonday, October 6, 2:15pm – 3:45pm : 10 Food Business Incubation – One Size Does Not Fit AllMonday, October 6, 2:15pm – 3:45pm Presenters: Caleb Zigas, La Cocina Community Kitchen Jan Tusick, Mission Mountain Food Enterprise Center Larry Fisher, Appalachian Center for Enterprise Networks Ken Gossen, Alberta Agriculture and Rural Development Description: Food business incubation programs may have very different sponsoring agencies, organizational structures, missions, clients, and types of services that are offered to entrepreneurs in their communities. In this panel, you will meet directors from very successful incubator programs that differ widely in the location of the program itself, the geographies that are served, the population base that is targeted, the organization that provides support, types of funding that have been received, types of fees that are charged, and the overall size and depth of the operation. State and Federal Programs for Funding Your Incubator, Community, and Your Clients Tuesday, October 7, 11am – 12:30pm : 11 State and Federal Programs for Funding Your Incubator, Community, and Your Clients Tuesday, October 7, 11am – 12:30pm Presenters: Andrew Law, New Jersey State Director, USDA Rural Development Dionne Toombs, National Program Leader, Competitive Programs, USDA CSREES Elizabeth Tuckermanty, National Program Leader, Competitive Programs, USDA CSREES Margaret Brennan, Director of Economic Development, Rutgers NJAES Description: A number of state and federal agencies provide funding assistance that can directly support food business incubation programs, as well as small farms and food industry entrepreneurs. Funding can include grants, loans and loan guarantees, and can be used for a broad variety of purposes. An overview of both federal and state funding programs will be described in this seminar, which can provide great benefits to incubator programs as well as to incubator clients. Microenterprise, Private-Sector and Foundation Programs for Funding Your Incubator, Your Community, and Your Clients Tuesday, October 7, 2:15pm – 3:45pm : 12 Microenterprise, Private-Sector and Foundation Programs for Funding Your Incubator, Your Community, and Your Clients Tuesday, October 7, 2:15pm – 3:45pm Presenters: Jim Duffy, Partner in Charge, Food Industry Group, Wiss & Company Diane Holtaway, Associate Director Client Services, Rutgers Food Innovation Center Carol Coren, Business Association Mentor, Rutgers Food Innovation Center Description: In order to assure critically needed cash flow, and potentially create a financially self-sustaining incubator program, it is critical that funding streams be identified from both public and non-public sources. Food business incubators are somewhat unique, in that a number of revenue sources can exist for services that can be provided. In this seminar, both traditional and non-traditional sources of funding will be described, that can benefit your incubator program as well as your incubator clients. FoodBIN 2009 and Beyond Wednesday, October 8, 10:30am – 12:00pm : 13 FoodBIN 2009 and Beyond Wednesday, October 8, 10:30am – 12:00pm Facilitators: Lou Cooperhouse, Director, Rutgers Food Innovation Center Margaret Brennan, Director Economic Development, Rutgers NJAES Description: There have now been six FoodBIN conferences, and the future of FoodBIN will be discussed during this seminar. A business plan has been developed for FoodBIN, which will be described, and this seminar will provide an opportunity for attendees at this conference to brainstorm how FoodBIN can potentially provide even greater benefits to the food and agribusiness incubation community, and result in potential partnerships and collaborations that leverage collective resources and increase economic impacts. :  Rutgers Food Innovation Center Overview Rutgers University Commitment to Food and Agriculture Industry : 15 Rutgers University Commitment to Food and Agriculture Industry 24 Undergraduate and 11 Graduate Programs 24 Centers and Institutes 21 Cooperative Extension county offices Office of Continuing Professional Education Extensive Range of Outreach, Research and Community Projects with focus on Food, Nutrition, Health and the Environment Food Innovation Center is newest program, and based in Bridgeton Food and Agribusiness Industry Needs : 16 Food and Agribusiness Industry Needs Need for information on business planning, market research, capital access, corporate governance, regulatory and permitting requirements, legal matters, product and process development, marketing and sales strategy… Need for training and workforce development on best practices in quality assurance and food safety Need for assistance in development of value-added differentiated products, in order to compete in an increasingly complex retail and foodservice environment, which is undergoing significant industry consolidation Need to reduce startup expense associated with new product development, equipment costs, and market entry Need to safely and legally produce products in an FDA and USDA inspected facility New Jersey Food Industry Sector : 17 The Agriculture and Food Industry is one of New Jersey’s leading industries, rivaling the pharmaceutical industry in size. $82 billion in direct sales (10% of state). More than $7.65 billion in wages (6% of state). More than 26,000 firms (12% of state). More than 375,000 jobs (11% of state). Critical to South Jersey economy Contributes to economic stability for entire state The New Jersey region has the wealthiest, highest population density, multi-ethnic consumer market in the world….60 million consumers live within 6 hours driving time from New Jersey New Jersey Food Industry Sector Food Innovation Center Geographic Base Bridgeton, Cumberland County : 18 Food Innovation Center Geographic Base Bridgeton, Cumberland County Among 566 municipalities in NJ, Bridgeton’s Per Capita Income is 2nd lowest in state ($10,917 vs. $27,006 for state), Poverty level is 6th highest in state, with >26% of population in poverty (vs. 8.5% for state) Cumberland County has : Lowest per capita income in the state- $17,376 vs. NJ avg. of $27,006 (and $21,587 US avg.) Highest percent of households below poverty level at 15% Southern NJ is hub of New Jersey’s food processing and agricultural industry, yet its economy has significantly worsened over past few decades To create jobs in this region, a strong, viable food industry is critically needed. Slide 19: 19 Mission To stimulate and support sustainable economic growth and prosperity to the food and agricultural industries in the New Jersey region by providing businesses with innovative research, customized practical solutions, resources for business incubation and a trusted source for information and guidance Vision To serve as the catalyst that will promote a viable and prosperous food processing and agriculture base in New Jersey, translating into considerable benefits for the region, that will become recognized as a global model for regional economic development Over 1,000 Companies Assisted to Date : 20 Over 1,000 Companies Assisted to Date Farmers and Cooperatives desiring to create new businesses based on value-added agricultural products and/or developing new markets for their existing commodities Startup food companies coping with challenges such as financing, technology, regulations, market development, and infrastructure requirements 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 NJ products Food Innovation CenterServices Provided : 21 Food Innovation CenterServices Provided Business Development Marketing and Sales Support Product and Process Development Quality Assurance and Food Safety Regulations and Compliance Workforce Development and Training Food Innovation CenterClient and Resource Cluster Created For Food Industry Growth : 22 Food Innovation CenterClient and Resource Cluster Created For Food Industry Growth Statewide, National, International Recognition : 23 Statewide, National, International Recognition Awarded by NBIA as “Incubator of the Year,” in the services and manufacturing category, among incubators globally in 2007 Awarded the winner of the USDA-CSREES Partnership Award for Innovative Program Models in 2007, among programs nationally, for “achievement as a model for community and economic development and jobs creation” Recognized by USDA as an “Agricultural Innovation Center Demonstration Program,” one of only ten such centers in US Recipient of the Rutgers Presidential Award for Research and Service to New Jersey in 2008 23,000 s.f. Food Business Incubator FacilityBridgeton, NJGrand Opening October 17, 2008 : 24 23,000 s.f. Food Business Incubator FacilityBridgeton, NJGrand Opening October 17, 2008 Enabling Product Design, Development, Analysis, Commercialization, and Ongoing Manufacture of Products for Sale to Retail and Foodservice Markets Client Services Area : 25 Client Services Area Business Mentoring Product Development Research Kitchen Sensory Analysis Laboratory Microbiology and Analytical Laboratories Conference and Education Facilities, with Focus Group Observation Area Office and Administrative Support Shared-Use Processing Area : 26 Shared-Use Processing Area Fresh-Cut Cold Processing Beverages and Hot Processing Bakery and Dry Processing Cold Assembly/Clean Room Blast Chilling and Freezing Storage – Refrigerated, Frozen, Ambient An array of technologies will be available… : 27 An array of technologies will be available… ...Enabling great product capabilities : 28 ...Enabling great product capabilities For Further Information: : 29 For Further Information: Rutgers Food Innovation Center 450 East Broad Street Bridgeton, NJ 08302 www.foodinnovation.rutgers.edu 856-459-1900

Add a comment

Related presentations

Related pages

Rutgers Food Innovation Center

Field Trip to Rutgers Food Innovation Center and Overview of ... Lou Cooperhouse, Director, Rutgers Food ... Rutgers Food Innovation Center
Read more

Rutgers FIC, NJ BIN, and Choose NJ visit to Build NJ ...

Rutgers FIC, NJ BIN, and Choose ... and Choose NJ Representatives to Visit Israel Meetings to Build NJ-Israel Innovation ... Lou Cooperhouse, director of ...
Read more

Rutgers Food Innovation Center and NJ Business Groups to ...

Rutgers FIC Director Lou Cooperhouse. ... Lou Cooperhouse, director of the Rutgers Food ... The purpose of the trip is to create a NJ-Israel ...
Read more

FOR IMMEDIATE RELEASE Contacts: June 9, 2015 Lou ...

... Lou Cooperhouse, director of the Rutgers ... The purpose of the trip is to create a NJ-Israel Food ... The Rutgers Food Innovation Center (FIC) ...
Read more

Rutgers Food Innovation Center (FIC)

Rutgers Food Innovation Center 450 East Broad Street (Rt 49) Bridgeton, NJ 08302 ... ©2015 Rutgers, The State University of New Jersey. All rights ...
Read more

Rutgers Food Innovation Center Partners for Growth From ...

Rutgers Food Innovation Center Partners for Growth From Concept To Commercialization Conference Field Trip ... Rutgers Food Innovation Center ...
Read more

RutgersFIC - YouTube

Interested in starting, partnering, or interning in the Food Industry? Lou Cooperhouse, Director of the Rutgers Food Innovation Center, shares expert ...
Read more

FoodBIN 2009 and Beyond Lou Cooperhouse Margaret Brennan ...

FoodBIN 2009 and Beyond Lou Cooperhouse Margaret Brennan Director Director, Economic Devel. Publish , ... Rutgers Food Innovation Center, ...
Read more

New Jersey - Choose New Jersey Press Releases

... director of the Rutgers Food Innovation Center (FIC) ... The purpose of the trip is to create a NJ-Israel Food ... Lou Cooperhouse, Rutgers ...
Read more