Incubation & Acceleration Services

HTR’s Lennox Tech Enterprise Center (TEC):

TEC is a model of incubator efficiency. Self-sustaining and providing state-of-the-art facilities to area technology entrepreneurs, TEC is currently operating at 95% occupancy, with continued demand for space and services. Services are available to entrepreneurs through residency in the incubator (TEC Clients) via TEC staff, including Coaching, Connections, Commercialization assistance, and Capital guidance; through membership to the TEC Affiliate Program, offering networking opportunities and modest TEC staff services included in membership, and direct, fee-based consultation by both HTR’s EIR’s and MBA interns for assistance on an as-needed basis.

Lennox TEC Structured Business Development:

Structured Business Development objectives are to accelerate and maximize the success of HTR client start-up companies. This should result in maximizing the number of jobs created by HTR client start-up companies. The Process starts with the assignment of an EIR coach and mentor to the entrepreneur. The EIR partners with the entrepreneur to develop a roadmap for success. The EIR holds the entrepreneur accountable for implementing their business development plan through regular progress review meetings. The key elements of the business development plan are:

Six Week Action Plan

• All short term business launch items addressed

Six Month Action Plan

• Business-building; Capital and Human Talent Acquisition, Networking, IP, Market Validation, Opportunity Assessment, Competitive Analysis, and Business Plan
• Business Launch; R&D Project Plan, Go-to-Market Strategy, Sales Pipeline Review, Operations Plan, Financial Systems and Procedures
• Establish an Advisory Board (3 to 4 members)

Post Six Months Action Plan (2-4 years)

• Entrepreneur is ready to transition to a self sufficient business development model

Renewable Energy Network of Entrepreneurs in Western NY:

Renewable Energy Network of Entrepreneurs in Western New York (RENEW NY) is dedicated to helping early stage renewable energy companies start and grow in the western portion of New York State.  RENEW NY is outside the scope of the RTDC proposal, but the services provided are integrated with the HTR New Venture Services.

Bioscience Incubator at RTP:

HTR is in the final stage of planning a Bioscience Incubator for the University of Rochester.  HTR will manage the Bioscience Incubator for the UR.  The incubator fills a critical need for “wet lab” space not possible at HTR’s Lennox TEC.  The incubator is planned to open late in 2006.

Business Plan Assessments:

EIRs and MBA interns will carefully review an entrepreneur’s business plan and document pointed feedback and reactions on how best to position their plan for potential investor interest, along with an assessment of top-level believability, etc.  This service is available on a small fee-based structure to all entrepreneurs in the area.

Capital Readiness Program:

The Capital Readiness Program provides entrepreneurs with the best foundation, support, and guidance when preparing to raise capital to grow their business. To effectively raise capital, HTR staff works closely with the company to identify the right source and scope of funding needed, assist management in developing a clear message that will appeal to the right investors, to introduce the company to capital sources, to assist in review of proposals from investors, and to help negotiate the deal.

Due to the large effort required to successfully execute this task, this service is offered to select companies only, requiring a commitment on the part of the client’s management to work closely with our staff on this hands-on engagement, in addition to completing the prerequisite step of Company Assessment.  Recent successes include New Scale Technology and Lumeterics which raised $700K and $1.34M respectively with HTR’s assistance.