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Business Accelerator at Midlands Technical College: Driving Economic Development

Explore the success of Midlands Technical College in economic development and the evolution from reactive to proactive strategies. Learn about the Business Accelerator concept, design, and lessons learned, as well as its impact on students, community, and economic engagement. Discover the future plans to expand and enhance the Accelerator for continued growth and success.

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Business Accelerator at Midlands Technical College: Driving Economic Development

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  1. NACCE 2013 Developing and Managing a Business Accelerator

  2. Midlands Technical College • 18,000+ credit students annually • 1/3 of area high school graduates attending college first enroll at MTC • 100+ programs of study • 30,000+ corporate and continuing education students annually • $85 million operating budget • $100+ million assets • Six campuses • Fifth largest college in South Carolina • SACS re-accreditation – 0 recommendations • 97% of employers satisfied with MTC grads • 90+% performance on licensure exams

  3. Economic Development in SC:An Historical Perspective of Success 1965-2005 2005-2020

  4. MTC Economic Development Clusters AlternateEnergy InformationTechnology HealthSciences Advanced Manufacturing

  5. An Evolution fromReactive to Proactive • Early Stage: No Interest • Reactive Stage: Technical College System and State Schools • Participatory Stage: Skills Funding, K-12 & HE • Proactive Stage: Anticipating needs

  6. Engaging the Economic Ecosystem of the Midlands

  7. Incubation v. Acceleration:Setting the Stage for Change

  8. The Business Accelerator:A Concept • Client Arrival: • Graduate of Business Incubator • Landing Party • Existing Business Expansion • Client Contribution: • JOBS • Capital Investment

  9. The Business Accelerator:The Design

  10. The Business Accelerator:The Reality

  11. The Business Accelerator:In Action

  12. The Business Accelerator:Lessons Learned • Managing Risk • “OPM” • Responsibilities of Being a Landlord • Managing Capacity and Availability • Marketing as a Business • “Just because you can do something doesn’t mean you should…” • “Private Use Test”

  13. The Business Accelerator:Resource Guide • Copy of Statute • By-Laws • Governance documents • Alternate Procurement Code • Contractual documentation • Legal Opinions

  14. The Business Accelerator:College Engagement • Student exposure to “real world” • Excellent use of Faculty expertise • Increased number of interns • Access to equipment/processes • Utilization of College Resources

  15. The Business Accelerator:Community Engagement • Participating in Advisory Councils • Integration within the local ecosystem • Jobs • Marketing of college and of Accelerator

  16. The Business Accelerator:Economic Development Engagement • Dramatically increased visibility within business community • Strong, vibrant representation with visiting parties • BA clients engage potential clients • BA clients engage within the group • Selling point on all visits to Midlands of SC

  17. The Business Accelerator:The Future (as we see it) • Increase the turnover of clients • Expand the Accelerator, adding multi-purpose spaces of varying sizes • Build a larger version of Accelerator (“OPM”) • Build on Success!!!

  18. You Can GetFrom Here Anywhere

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