Within both Chester County and Delaware County, innovation is thriving. Yet the decision to start a company based on one’s dream is personal and emotional. Every entrepreneur’s experience feels like a uniquely challenging and promising quest, fortunately there are resources available to help the region’s emerging startups maneuver through process and prosper.
The Ideas x Innovation Network (i2n), an initiative of the Chester County Economic Development Council supports emerging growth businesses throughout their entire life cycle by leveraging the assets of our academic institutions and our partners to create a network of physical and virtual resources. No matter the stage of your company’s development, i2n has tools to help you succeed.
Are you an up and coming organization with a groundbreaking product or service? If so, let i2n connect you to resources such as:
- Guidance on funding sources
- Business resources from top advisors and successful start ups
- Tax incentives
- Support from the area’s leading higher educational institutions
- Mentoring from local economic developers and community leaders
Michael Harrington, Partner at Fox Rothschild specializing in early- and growth-stage companies in the technology, life sciences, health care and clean tech sectors and an i2n board member noted
“I am not just a board member; I personally participate in i2n because of the ability to have a real relationship with the emerging tech startups in Chester County and Delaware County. My experience has been nothing but positive in helping our early and growth stage companies with legal services, direction on raising capital, and many other critical steps. I’ve personally been involved with and witnessed the benefits we provide to the community. Just recently we’ve supported over 100 companies; helped 15 companies receive over $1M in KIZ tax incentives; and 41 of i2n companies reported over $49M in annual revenue supporting over 300 employees!”
Not only has i2n cultivated a vast network of assets to help start-ups succeed but they also have created dedicated innovation spaces for eligible companies within area Keystone Innovation Zones (KIZ). More than eight spaces exist across Chester and Delaware Counties.
One example is the Hankin Group’s Innovation Center at Eagleview (ICE). Located within the Eagleview Corporate Center, ICE offers companies attractive lease rates along with the ability to use existing lab space and shared equipment. These factors help keep life/bio science startup costs down by allowing the revenue, grants, and incentives earned to fuel businesses.
Did you know that the survival rate for incubator graduates exceeds 80 percent? That rate is significantly better than the rate for non-incubated start-up companies. Numerous companies who have utilized i2n’s toolkit have sustained success.
Stan Pittman of i2n company, Eigen X noted, “i2n and the KIZ tax credits have helped us grow to the next level. We were able to leverage i2n support in training, hiring, and networking. i2n referred us to the KIZ office space. Our lease included very flexible terms to allow us to grow without a long-term commitment to the space. The training credits were used to obtain certifications in core technologies for us (Agile, Salesforce.com, Tableau, .NET, Birst, etc.).”
Brinker Simpson partner and Co-Chair of i2n Robert Simpson says, “there have been many connections made through my relationship with i2n over the years. Not only connections with companies, but the relationships and friendships that I’ve created with the board members. Building professional relationships is a long process, and the ability to interact with these business leaders is what drives the successful networking process.”
“In addition to these relationships,” Simpson continues, “another thing about i2n that keeps me in involved is the serious amount of support and mentoring the Board members and associated partners offer to get an emerging tech business on the right track to avoid costly legal, accounting and other mistakes.”
Want to get your “Toolkit for Success?” Get to know i2n and discover if your company can benefit from our services and network of support by visiting www.i2npa.org or contact Marianne Stack at firstname.lastname@example.org or 610 321 8222.
What’s Next for the Ideas x Innovation Network?
Join us Wednesday, March 22 from 4:30 pm to 6:30pm for an informational and networking event at Evolve IP in Wayne. Learn more at https://ccedcpa.com/news/i2n-informational-and-networking-event/.