Ryan Costello, chairman of the Chester County Board of Commissioners, recently toured Walnut Street Labs in West Chester and spoke to local entrepreneurs at a lunch meeting hosted by the Ideas x Innovation Network (i2n).

i2n is an alliance of the Chester County Keystone Innovation Zone (CCKIZ) and the Delaware County Keystone Innovation Zone (DCKIZ), managed by the CCEDC.

Costello is working with the VISTA 2025 economic initiative to develop a 10-year economic development strategy for Chester County that balances progress and preservation.

“Creating a culture and infrastructure that supports entrepreneurship and business startups is vital to the future of Chester County’s economy,” said Costello, co-chair of the VISTA 2025 Executive Alliance. “That infrastructure includes places like Walnut Street Labs, a startup incubator and innovation lab that provides entrepreneurs with access to the space, tools and expertise to validate and bring their ideas and products to market.”

“Many entrepreneurs need a support system and the ability to call on knowledgeable experts to further hone their ideas and develop strong business plans – resources provided by incubators like Walnut Street Labs,” said Costello.

“Other startups have more specific needs such as access to costly lab space or technology that would be cost-prohibitive to acquire on their own. In the past few years, private companies — with the support of the Chester County Economic Development Council — have stepped up to the plate to fill this need. That includes incubators such as Evolve IP., which opened a 10,000-square-foot incubator for information-technology firms in Tredyffrin and the Hankin Group’s Innovation Center at Eagleview, a 15,000-square-foot incubator for biotech companies in Uwchlan. Part of the challenge we face is making entrepreneurs aware of these resources, as well as identifying additional needs for specific industries,” he said.

i2n supports emerging growth businesses and serves more than 60 companies in Chester and Delaware counties.

“From a public policy perspective, we want to hear directly from entrepreneurs about what is working, what resources they are lacking, and what we can do better to help new startups grow and be successful,” said Gary Smith, president and CEO of the CCEDC. “Encouraging and supporting new startups – and providing them with the incubator space and resources they need – will be one of the areas we focus on as we continue to develop VISTA 2025.”

Links: www.cceconomicdevelopment.com