SUPPORTING GEARS OF INNOVATION
10 GROUNDBREAKING 12
LUNCH & LEARN
AMARILLO ENTERPRIZE CHALLENGE RECIPIENTS
AEC BY THE NUMBERS
17 INBIA 18 INTERNS 19
WTEC AWARDS CEREMONY
2017 CLIENT OF THE YEAR
ENTREPRENEURS-IN-RESIDENCE & SPECIALISTS
ENGAGEMENT IN 2017
THE MISSION OF THE WT ENTERPRISE CENTER THE MISSION IS TO HELP PEOPLE BUILD GREAT COMPANIES. OUR CORE VALUES
Excellence through service Help people build great companies Encourage growth and creativity Promote life-long learning Build open and honest relationships
Pursue personal and professional balance Strive for sustainability Celebrate both success and failure Embrace change Have fun; enjoy life
OUR VISION The WT Enterprise Center is the heart of entrepreneurship in a vibrant, collaborative ecosystem where start-up and early stage companies emerge and grow.
This annual report is an ode to the inventors, entrepreneurs and the hard-working team here at the WT Enterprise Center and what was accomplished in 2017 through community and collaboration. Now more than ever, is the time for our community to come together in support of a dynamic ecosystem, continued growth and inspiring innovation. We encourage you to come take a tour, engage and be a part of the story of Helping People Build Great Companies!
nspiring innovation has been an ongoing theme for the Enterprise Center. With the freedom to design a new building for entrepreneurs in the Texas Panhandle, we wanted to really focus on functionality and feeling. How did we want entrepreneurs to use the facility and what feelings did we want to elicit when they walked in the doors? We wanted them to feel inspired, fuel their motivation, gain a support system and to feel refreshed. From legendary inventions, to inspiring innovators throughout history, a nod to our co-founders and the representation of community collaboration; this building truly tells a story of entrepreneurship.
KYLA FRYE ASSOCIATE DIRECTOR
ADMINISTRATIVE SERVICES MANAGER
CLIENT SERVICES COORDINATOR
SUPPORTING GEARS OF INNOVATION
he Supporting Gears of Innovation project showcases community collaboration and support for entrepreneurs in the Texas Panhandle region. The symbolism of the gears represents community organizations working together to enhance the entrepreneur ecosystem in our region. Funding for the WT Enterprise Center supports this campus as the heart of entrepreneurship in Amarillo, allowing us to carry out our mission to Help People Build Great Companies!
FUNDING PARTNERS Amarillo Economic Development Corporation Amarillo National Bank U.S. Economic Development Administration FirstBank Southwest First United Bank Happy State Bank WT Enterprise Center
GEAR WALL PRODUCTION DESIGN Michael Peterson, Amarillo Gear INSTALLATION Chris Reed, Plains Builders MANUFACTURING Pioneer Millworks
THANKS TO OUR PARTNERS'
Amarillo Business Women
International Economic Development Council
Amarillo Chamber of Commerce
The High Ground of Texas
MAKING A DIFFERENCE
Leadership Amarillo & Canyon
WITHIN OUR ECONOMIC
LANDSCAPE BY PROVIDING
Panhandle Regional Planning Commission
Amarillo National Bank
State of Texas
ABILITY TO GROW.
Texas A&M University
City of Amarillo
Texas Manufacturing Assistance Center
Dallas Gourmet Food Market
Texas Panhandle Regional Development Corp.
University Economic Development Association
First United Bank
U.S. Economic Development Administration
West Texas Angel Network
WTAMU Small Business Development Center
Happy State Bank
West Texas A&M University
International Business Innovation Association
COCO DUCKWORTH ENCOURAGE CONSULTING, CHAIR
DR. NEIL TERRY WTAMU PAUL AND VIRGINIA ENGLER COLLEGE OF BUSINESS
JOHNNY MIZE COMMUNITY LEADER
GARY SAGE FORMER OWNER, SAGE OIL VAC
ROBERT AUSTIN AMARILLO COLLEGE Blueprint of WT Enterprise Center expansion
AMY HENDERSON AMARILLO NATIONAL BANK
MARK MARRS INTERSTATE BANK
PHILLIP SHIPLEY BOY SCOUTS OF AMERICA, GOLDEN SPREAD COUNCIL
BRAD MARTIN COMMUNITY LEADER
KYLE INGHAM PANHANDLE REGIONAL PLANNING COMMISSION
BURDETT, MORGAN, WILLIAMSON, & BOYKIN
AMARILLO AREA CENTER FOR ADVANCED LEARNING, AACAL
REAGAN HALES AMARILLO EDC
ALTURA ENGINEERING & DESIGN
ANGELA LUST LONGVIEW STRATEGIES, LLC
Jeff Reid, Executive Director
State Representative Four Price and previous Amarillo Mayor, Paul Harpole networking at the groundbreaking ceremony.
GUEST SPEAKERS Representative Four Price, State of Texas Dr. Wade Shaffer, WTAMU Provost & Vice President Jeff Reid, Executive Director of the WT Enterprise Center David Terry, EntrepreneurIn-Residence and Co-Founder of the WT Enterprise Center
FOR A GOOD PART OF 2017, THE SOUTH END OF OUR CAMPUS WAS A HARDHAT AREA due to the construction of our new administrative building. We held a groundbreaking ceremony in early February and were able to move into the building during the middle of December. Completion of the building represents the culmination of over five years of planning, design work and construction. We are very excited with the new facility and believe it will be a useful resource for our clients and community. A very heartfelt thank you to the individuals and organizations that helped us to make the new facility a reality. Although construction was a focal point for the year, we were busy on other fronts including: the launch of a new website, update of our branding, partnering on the Amarillo + Inc. initiative, enhancing our coaching methodologies, obtaining GrowthWheel certification for our business coaches, and the additional resource of a technology business specialist. Other areas of growth include increased engagement in Hatchworks, establishment of a commercialization cohort and an increase in the number of kitchen clients.
After nine years, we made the hard decision to discontinue our monthly Lunch and Learn program. This has been a successful program and we have been blessed to hear from many local entrepreneurs and leaders as they shared their life and business experiences. We are pleased to announce the Enterprise Center will be the host site for a new program, 1 Million Cups. The program has a strong entrepreneurial focus and is designed to educate, engage, and connect entrepreneurs with their communities. 2018 promises to be a year of opportunity for the Enterprise Center. One new initiative for the year will be the creation of a makerspace. A makerspace will provide the entrepreneur and creative community a place to do prototyping and small production runs. This will provide a stimulus for local entrepreneurship and enhance our service offerings to our clients. We thank you for your support and continue to eagerly look forward to the future as We Help People Build Great Companies!
JEFF REID EXECUTIVE DIRECTOR
Crowd learning about WT Enterprise Center expansion project
LUNCH & LEARN
LUNCH & LEARN AT THE WT ENTERPRISE CENTER RAN FOR NINE SUCCESSFUL YEARS. Featured speakers included local entrepreneurs, thought leaders and community members sharing their stories of success, advice, industry trends, personal development and more. While we are sad to see the end of an era, we are excited for new programs and opportunities to help entrepreneurs grow! textbook, “A Woman’s Place: Management.” Duke is a native of Amarillo and in the Hall of Fame of Tascosa High School. She attended Amarillo College where she was named Distinguished Alumna. She graduated with honors from Baylor University with a degree in journalism.
JANUARY ALTURA ENGINEERING & DESIGN CHRIS LOPEZ, JACOB MORENO, DAVID SALAS JAN
Altura Engineering & Design is the only company in the region to specialize in piping design for the oil and gas industry. Altura’s unique business model leverages experience and expertise to provide specialized piping design, planning, and consulting services to the petrochemical industry to meet those needs.
FEBRUARY ANGELA LUST, LONGVIEW STRATEGIES As founder and President of Longview Strategies LLC, Angela helps business owners and organizational leaders bring the “long view” into present focus. Drawing upon 20+ years of management experience Angela consults with businesses, nonprofits and community groups to navigate transition. She is known for her ability to connect big picture ideas to discrete tasks and resources.
APRIL BETH DUKE, CENTER CITY AMARILLO AUG
MAY CHAD WESTENBURG, RAFFKIND’S
Beth Whitley Duke is executive director of Center City of Amarillo. She joined Center City in 2005 after retiring from the Amarillo Globe-News where she was city editor. She is a member of the Panhandle Press Association Hall of Fame and the co-author of a college
Chad Westenburg is the new co-owner of Raffkinds, where he has been employed since October of 1996. Chad shares his experience in managing a locallyowned hotspot and future goals for the store with new partners. Chad is a 1998 graduate of Tascosa High School and a 2002 graduate of West Texas A&M University.
JUNE SHANNON MASSEY, BELL HELICOPTER Shannon Massey is the Vice President for Assembly Operations with Bell Helicopter. In this role, she has the responsibility of Amarillo, Lafayette, and Ozark sites. Shannon joined Bell Helicopter as an engineer in 1995 and has held roles of increased responsibility throughout Bell’s Fort Worth manufacturing facilities, including Advanced Composites, Rotors, Drive Systems Center and was the Vice President of Quality. Shannon’s leadership as general manager (GM) of the Amarillo Assembly Center included the rapid recovery of the ZBN line. Shannon holds a Bachelor’s degree in Chemical Engineering from Texas A&M University and a Master’s in Business Administration from Texas Christian University.
LUNCH & LEARN OCT
MOTIVATING ENTREPRENEURS SINCE 2009
2017 ATTENDANCE JULY NATE PFEIL, EXPERT VIDEOGRAPHER Nate Pfeil is a videographer and storyteller who has been making videos for nine years. He is originally from Amarillo, but spent three years with a storytelling agency for nonprofits in San Antonio and Austin. In 2016, he received a regional Emmy nomination as an editor. He lives in Amarillo with his wife and son and helps small businesses with their video strategy.
AUGUST DR. RUSSELL LOWERY-HART, PRESIDENT OF AMARILLO COLLEGE Dr. Russell Lowery-Hart joined the AC administration in 2010 following a dozen years as a member of the faculty and administration at West Texas A&M University, an alma mater where he had risen to associate provost for academic affairs. A product of Slaton, Texas, Lowery-Hart completed his bachelor’s degree in speech communication at WTAMU in 1991. He went on to obtain a master’s degree in communication studies in 1993 from Texas Tech University and a doctoral degree in gender and diversity in communication in 1996 from Ohio University. In just four years as vice president of academic affairs at AC, Lowery-Hart spearheaded or helped facilitate a number of important initiatives that led to his being named the 2014 recipient of the National Academic Leader of the Year Award by the National Council of Instructional Administrators.
SEPTEMBER REAGAN HALES, AMARILLO ECONOMIC DEVELOPMENT CORPORATION Reagan Hales is the Vice President of Marketing and Communications for the Amarillo EDC. In this role, Reagan leads the overall creative content development and execution of the AEDC’s marketing and brand awareness strategy. Reagan earned her BBA in Finance from the University of Texas with concentrations in accounting,
entrepreneurship and a minor in Italian. Prior to joining the AEDC, Reagan served in various roles in the Texas Tech University System, most recently as the Assistant Dean of Finance & Administration in which she oversaw a $25MM budget across 4 campuses throughout the State. Reagan has also worked in the not-for-profit industry and as a bond trader with Merrill Lynch in Atlanta, GA.
OCTOBER SMITH ELLIS, FIRSTBANK SOUTHWEST Smith Ellis, Retired CEO and Past-Chairman of the Board for FirstBank Southwest, has been a community leader involved with many local and nationwide organizations. His passion to help members of our community achieve their financial dreams is evident through his donation of time and mentorship. Smith is a University of Texas at Austin graduate, earning his Bachelor of Business Administration in Management, Finance and Insurance/Risk Management. In 1996, after a successful 20 year career as an employee benefit consultant in Austin, Texas, Smith joined the Board of Directors of FirstPerryton Bancorp and its wholly owned subsidiary, FirstBank Southwest.
DECEMBER JOHNNY MIZE, COMMUNITY LEADER Johnny Mize has 25 years of experience working and consulting with executives of fortune 500 corporations, insurance companies, third-party claim administrators, insurance brokers and governmental entities. Johnny served as President and CEO of Corporate Systems for twelve successful years until the purchase of the company by Marsh in 2005. He speaks at professional seminars and management conferences on the subjects of risk cost control, medical cost management, and strategies for reducing claim administration and loss cost. Johnny is currently a member of Young Presidents Organization. He gives to his community by serving on various boards in Amarillo.
66 JANUARY 57 FEBRUARY NO PROGRAM 60 APRIL 44 MAY 41 JUNE 44 JULY 45 AUGUST 53 SEPTEMBER 58 OCTOBER NO PROGRAM 57 DECEMBER
AMARILLO ENTERPRIZE CHALLENGE
EASY MATH APP, LLC ALEJANDRO MAGALL ANES, OWNER EasyMath application is providing tools to help students and other people to solve math problems in comfortable and easy way. Students struggle with math homework on a daily basis due to the lack of one-on-one time in the classroom. EasyMath is a mobile application that provides students with tutoring by having the student submit an image of their math problem and connecting them to a qualified tutor via the app.
TECHKNOW REMOTE SYSTEMS, LLC JAMES SCHMIDT, OWNER TechKnow Remote Systems has created a system that monitors collection tank levels for small oil producers. This system allows oil producers to view their oil production data, get alerts for fill levels and make reports with their data.
BITI PIES A ARON HUFFAKER , OWNER Biti Pies sells individually wrapped, single-serving, highquality snack pies and cakes. The product size allows for thousands of pies and cakes to be produced each day that are easy to distribute, store and merchandise.
BY THE NUMBERS
THE AMARILLO ENTERPRIZE CHALLENGE is a program created by the West Texas A&M University Enterprise Center and funded by the Amarillo EDC. During the annual competition for the opportunity to receive a share of $500,000, participants receive qualified coaching and a support system to help them achieve their goals and reach the next level of business. 2016-2017 JUDGES
Happy State Bank
Confluence Security Group
Chick-fil-A Georgia Street
ROBIN PATTERSON WTAMU College of Business
Registrants for AEC
Orientation Workshop Attendees
Group Coaching Workshop Attendees
Investor Fact Sheet Submissions
Business funded over the last 22 years
Business funded that are still operating
Additional capital raised
$17.4 Million 15
THE WT ENTERPRISE CENTER COLLABORATES WITH ORGANIZATIONS, INDUSTRY LEADERS AND ENTREPRENEURS WORLDWIDE. As a leader and member of the economic development community, we strive to provide resources and connections to budding innovators and growth-oriented companies, growing our local economy and the entrepreneurial community. JANUARY
Amarillo American Advertising Federation Presentation Inc. Magazine Dinner
Xcel-ing Amarillo Program Women Move the City Texas Rural Challenge- Waco, TX
Inc 5000 Conference- Palm Springs, CA Amarillo Chamber of Commerce Annual Banquet & Business Excellence Awards High Ground Annual Meeting Canyon Independent School District Leadership Luncheon
Odessa Fab-Lab Visit Business Council
FEBRUARY WT Enterprise Center Groundbreaking for New Building Panhandle Days- Austin, TX Good Scout Luncheon Leadership Amarillo & Canyon - Impact Luncheon
MARCH EDA University Centers Meetings- Ruston, Louisiana International Business Innovation Association Conference - Seattle, Washington
APRIL Amarillo Business Women Leadership Luncheon Business Council
MAY Inc + Amarillo Launch Party Amarillo Chamber of Commerce Business Connection TX Panhandle Graduate Firm of the Year Dinner
Investor Pitch Night
AUGUST PRO Seminar Panel Senator Ted Cruz at Sage Oil Vac
SEPTEMBER International Economic Development Council Conference - Toronto, Canada International Business Innovation Association Summit - Birmingham, AL
DECEMBER AISD Community Leaders Lunch
INBIA EVENTS MARCH INBIA CONFERENCE
SEPTEMBER INBIA EBUILDERS FORUM
PLATINUM MEMBERS JEFF REID
2017 CONFERENCE PRESENTER
2017 CONFERENCE PRESENTER
2017 CONFERENCE PRESENTER, PAST BOARD CHAIR
InBIAâ€™s International Conference on Business Incubation Photos from left: Victor W Hwang, Author of The Rainforest and Vice President of Entrepreneurship at the Kauffman Foundation, addressing the crowd; David Terry, Kyla Frye, Brittny Lee, and Jeff Reid attending the International Business Innovation Association Conference in Seattle, WA; Kyla Frye (left) and Ted Baker, Executive Director of Innovation Connector.
GO FORTH 18
SPRING 2017 INTERNS Tiffany Reynolds
Caprock High School
SUMMER 2017 INTERNS Tiffany Reynolds
TESSA WILSON MARKETING
FALL 2017 INTERNS Tiffany Reynolds
Amarillo High School
Randall High School
KRISTIN RODIN MARKETING
DANIEL CLENNEY ENTREPRENEURSHIP
AND PROSPER YOUTH engagement
Financial Projections Training, Canyon High School
Enactus Idea Challenge PRO Mentor Appreciation Luncheon
Canyon High School Business Class Presentation Entrepreneur Presentation at Palo Duro High School
Career Day at Carver Elementary
Pro Intern Open House Ogallala Commons Luncheon
FEBRUARY Canyon High School Business Classes Presentation
CLIENTS BY CATEGORY
Altura Engineering & Design
AMA Ruby Slippers Care, Inc
Food & Beverage
Buffalo Technology Group
Easy Math App, LLC
Fanelli’s Pasta & Lasagana Sauce Inc.
Food & Beverage
Finley’s Candied Peppers
Food & Beverage
Food & Beverage
Lindley’s Bakery Co., LLC
Food & Beverage
Pure Element Premium Water
Food & Beverage
Food & Beverage
Sweet Revenge Mustard
Food & Beverage
TechKnow Remote Systems, LLC
WTAMU Education On Demand
THE WT ENTERPRISE CENTER’S MISSION IS TO HELP PEOPLE BUILD GREAT COMPANIES. Although we help anyone who walks through our doors, we have certain specifications we look for in incubation candidates. Incubation includes growth oriented companies who are in technology, manufacturing, distribution, food and services. They are projected to have or currently have a large portion of revenue coming from outside the Amarillo area. These requirements make them a “primary business” leading to economic growth, new jobs and national awareness for the Texas Panhandle.
Food & Beverage
CLIENTS GAINED IN 2017
PASSIONATE CLIENTS IN 2017
SUPPORTING AND CELEBRATING LOCAL ENTREPRENEURS IS A COMMUNITY EFFORT. On November 17th, as part of Global Entrepreneurship Week, the WT Enterprise Center hosted its 2017 Awards Ceremony to celebrate the growth of local entrepreneurs. Awards presented included one Enterprise Center Graduate Award, 2017 Client of the Year, 2017 Coworker of the Year and the return of two community awards: The Golden Egg Award and the Don Taylor Entrepreneur Excellence Award.
GRADUATING COMPANY Altura Engineering & Design
DON TAYLOR ENTREPRENEUR EXCELLENCE AWARD Coco Duckworth, Encourage Consulting
COWORKER OF THE YEAR Todd Newell
GOLDEN EGG AWARD Burdett, Morgan, Williamson & Boykin
CLIENT OF THE YEAR
RUBY SLIPPERS CARE PROVIDING YOU WITH COMPANION CARE AT HOME. Ruby Slippers is a team of highly skilled compassionate caregivers trained specifically in improving the quality of life. By inviting us into your home, wherever home may be, Ruby Slippers provides trustworthy, kindhearted, senior home care services in your loved one’s home. All Care Managers are thoroughly screened, extensively trained, professional, and reliable. At Ruby Slippers Care, it’s about providing the highest-quality home care services to fit you and your family’s needs. Ruby Slippers Care Owners, Kim Brooks and Cheryl Tweet accepting their 2017 Client of the Year Award.
MEMBERS IN 2017
NEWELL IT SERVICES
KING AIRCRAFT MANAGEMENT
USA LAND AND RANCH REALTY/AUCTIONS
PERFORMANCE CATTLE COMPANY, LLC
AWH ENTERPRISES, LLC
LET’S GET ORGANIZED
THE ENTERPRISE CENTER offers community members an opportunity to become part of the entrepreneur community at the EC by participating in coworking! Our coworking space is a great resource to escape from distractions at home or the coffee shop and have a permanent desk with access to conference rooms, resources and a stocked coffee bar. You also gain access to other entrepreneurs for networking opportunities, WT Enterprise Center staff, expert specialists and coaching resources to help your business grow!
entrepreneurs-in-residence and specialists WT ENTERPRISE CENTER'S BUSINESS SPECIALISTS
CLIENTS OF THE ENTERPRISE CENTER receive specific coaching, mentoring, and expertise from our Entrepreneurs-in-Residence. They also have access to our business specialists who are experts in sales, marketing, finance, and legal who are available to help guide clients on a daily basis.
FINANCE LEGAL TOTAL HOURS
COCO DUCKWORTH DAVID TERRY ENTREPRENEURS-IN-RESIDENCE
25.75 BILL GLOVER
Spencer McElhannon David Terry
Hours Entrepreneurs-In-Residence spent mentoring in 2017
ENGAGEMENT IN 2017
NUMBER OF INQUIRIES BY INDUSTRY
Hatchworks at the Enterprise Center offers preincubation services to help you explore your business idea in a group coaching format for commercializing your idea and understanding your market value through customer discovery.
This format is designed to walk you through the Business Model Canvas in 45 minutes and introduce you to the services offered at the Enterprise Center to help your idea become a reality. The Lean Startup methodology used in Hatchworks helps pre-venture entrepreneurs discover the viability and commercial opportunity of a new business idea or concept. This pre-incubation program uses visual and hands-on tools to help the entrepreneurs towards next steps in commercialization and putting a business wrapper around an idea.
5 FOOD & BEVERAGE
INQUIRY SOURCE IN 2017
INQUIRY PROSPECT ENGAGEMENT
Hatchworks is a free service offered every second Tuesday of each month. STARTUP
HATCHWORKS ATTENDANCE IN 2017
53 EXISTING COMPANY STARTUP 25 EXISTING BUSINESSES
INCUBATION ECONOMIC IMPACT FROM INCUBATION SERVICES
$38,116,288 TOTAL REVENUES
$142,866,750 TOTAL CAPITAL INVESTMENT
$3,077,833 PROGRAM REVENUE
829 60 47
NUMBER OF TOTAL PRIMARY JOBS
NUMBER OF TOTAL BUSINESSES ASSISTED
TOTAL PROGRAM JOBS CREATED
2300 N. Western Amarillo, TX 79124 806.374.9777 806.374.9778 fax www.wtenterprisecenter.com
See highlights from 2017 and the stats for our growth!