TechColumbus expects to take over Web site to assist entrepreneurs
BYLINE: Dan Eaton
The Columbus Chamber got the ball rolling last year on a Web site aimed at connecting entrepreneur wannabes to much-needed advice and resources.
The ball has been tossed to TechColumbus as that group continues its bid for state money to spur technology-based economic development.
TechColumbus CEO Ted Ford said the group's board of directors is expected to agree Dec. 15 to take over the Web initiative as part of its Entrepreneurial Signature Program.
Rich Langdale, chairman of the chamber's Entrepreneurship Advisory Committee, said the chamber was ready to launch a test version of the site when the state in March took the wraps off the Entrepreneurial Signature Program, intended to fund tech-based economic development initiatives around the state.
Langdale, managing partner of NCT Ventures LLC, a private investment firm in Columbus, said it made sense to roll the chamber's plan into the effort by TechColumbus.
"When we have the resources, we need to capitalize on them," he said. "We've been trying to find support for this for a long time. There's been enthusiasm, but not a lot of resources. Now we have resources."
The Web site was among the initiatives included in TechColumbus' September funding proposal to the state's Third Frontier Commission. The Entrepreneurial Signature Program was created in March by the commission, which can disburse up to $15 million each to six regional efforts around the state.
TechColumbus, the point organization for Central Ohio's bid, got $6.8 million in funding Nov. 17, but the Web site didn't make the cut.
Ford expects to see more state funding in coming months, including money that would support the site.
Development of the site so far has been funded by the chamber and $100,000 from the city of Columbus.
Accenture Ltd., a management and technology consulting business, also contributed indirectly through a $100,000 donation to the Center for Entrepreneurship at Ohio State University. Some of that money was used toward development of the site, which will include a step-by-step model on how to build a business developed by the center.
Ty Marsh, the chamber's chief executive, said the idea for the site was born after a chamber survey turned up more than 40 companies and organizations that promote or support entrepreneurship financially or with other backing and advice. What didn't exist was a common forum for potential business owners to reach those groups.
The Central Ohio site, tentatively nicknamed Ideas to Business and now referred to as the Entrepreneurial Portal, is to be modeled after a similar project in Kansas City, Mo.
Langdale said the concept for the site remains the same as it was when the chamber proposed it. The involvement of TechColumbus, he said, has brought more resources to the project, with connections to information sources on venture capital and additional avenues to find state grant money.
The shift in control of the site is a small one considering the chamber and TechColumbus work together already, Langdale said.
"No one is disappointed by this," he said.
The operation of the site is projected to cost $280,000 annually. TechColumbus will have fiduciary responsibility for the site, but will run an advisory committee, including chamber representatives, to oversee it, Langdale said.
TechColumbus' goal is promoting technology businesses, but Langdale said the site will be a tool for anyone.
"We'd like to create higher-paying jobs, so technology is an emphasis, but we believe the site will help any entrepreneur," he said.
Marsh said handing the site to TechColumbus allows the chamber to take a broader view on entrepreneurship issues. Specific initiatives have not been laid out, but he said non-technology-related ideas would be examined.
"Technology is great, but we also want to make sure the non-tech base is not neglected," he said.