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1/16/03
NDSU Research and Technology Park Selects Firm for Technology Incubator Feasibility Analysis; Emphasis is on Entrepreneurship:
Fargo, N.D., March 20—Tony Grindberg, Executive Director of the North Dakota State University Research and Technology Park, announced today that Claggett Wolfe Associates, Auburn, California has been selected to undertake a feasibility analysis for the development of a technology-based incubator in the Research Park. NDSU is seeking to expand the University's role in the development and commercial application of technology as a means to greater diversification and growth in the economies of North Dakota and northwestern Minnesota. The incubator will promote development of new technology-based companies by providing access to financing, technical support, market research, management consulting, shared office equipment and flexible physical space.
The feasibility analysis is designed to provide the incubator with sure footing and a clear development plan, readily understandable to not only NDSU, but to the community, the region and the state. It will evaluate the market for an incubator, including study of the entrepreneurial climate in the community and the breadth of technologies capable of commercial development at NDSU. It will provide an in depth evaluation and confirmation of the overall incubator concept in context with the local business and education environment. "Developing the incubator without clearly understanding its mission, its role within the larger Research and Technology Park, the demand for such a facility, and the community support structure would be imprudent", said Mike Chambers, NDSU Research & Technology Park Board Member and President of Aldevron, LLC.
He stated further: "In order to foster understanding of our community, we view site visits as an integral component of the feasibility study process. It is important for Claggett Wolfe Associates to become familiar with the Fargo Moorhead region." They will interview and survey potential entrepreneurs, partners, researchers, business leaders and development agencies. They will obtain information from local government officials, state elected officials, and key individuals at regional colleges, universities and businesses. Grindberg encourages all persons interested in providing input to contact the Research and Technology Park office.
The completed feasibility analysis will be presented to the Research and Technology Park Board and its Incubator Task Force by approximately April 1, 2003. It will include firm recommendations for development of a business plan, focusing on demand and utilization, programs and services, organization, operating parameters and sources of income. It will cover site and building configuration as well as capital cost structure and potential sources of funds. It will contain a marketing plan, including outreach to the state, the region and beyond. There will be an assessment of potential participant needs and level of interest, plus a recommendation for Technology Incubator configuration and location within the Research and Technology Park.
Grindberg stated that a paramount strategy of North Dakota's future economic development efforts must be the growth of start-up enterprises. Previous economic development efforts focused primarily on either recruiting businesses to move to the state or on expanding the local business base.
"The vision of entrepreneurship is the third leg of our strategy for economic development," said Grindberg. "Midwesterners are resourceful people. Their creativity, coupled with guidance and strategically targeted resources, will come together to develop new business enterprises." North Dakota's institutions of higher education, widely regarded as among the best repositories of knowledge, technical skills, facilities and equipment available in the State will play a commanding role.
Claggett Wolfe Associates is recognized internationally for its economic development consulting for public, private and non-profit clients to foster economic growth and improve opportunities for business development in rural and urban settings. Chuck Wolfe, who will lead the feasibility analysis team, co-authored "Best Practices in Action: Guidelines for Implementing First-Class Business Incubation Programs", which has just been released by the National Business Incubation Association, Athens, OH. His project team has worked extensively with higher education institutions and recently completed technology incubator feasibility studies and business plans for the University of Missouri, Columbia; Northeastern University in Boston, Massachusetts; and the Public Authority for Applied Education and Training in the State of Kuwait.
For additional information on the project, please contact Tony Grindberg at (701) 231-7450, Mike Chambers, Aldevron, at (701) 297-9256, John Campbell, Fargo-Moorhead Chamber of Commerce at (701) 233-1100.
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