UMW CED Newsletter April 2016 by UMWCED

“Bridging Higher Education with Community, Government, and Business”

Veterans…Serving those who serve us This Spring we celebrated the recognition of Fred Wellman as the Virginia Veteran Entrepreneur of the Year. Part of his journey involves participation on the Veteran Owned Business Executive Roundtable (VOBER), using the Small Business Development Center and support of the Veterans Resource Center at UMW. Veterans are significant to our regional economy. Suburban Stats and Vetdata estimate that nearly 10% of those who live in Virginia are veterans. They continue their mission in business, education, government and those things that improve our quality of life. We are proud that the VOBER helped establish the UMW Veterans Endowment. The purpose of the endowment is to ensure that the men and women who gave through military duty to our country would have resources to grow at the University of Mary Washington. Help us serve those who have served or continue to serve us through military service by making a gift to the Veterans Endowment. Visit the following link to learn more.

Thank you,

Brian J. Baker, Executive Director

http://economicdevelopment.umw.edu/

Issue 3

· April 2016

Inside This Newsletter Cyber Company CRISP LLC Moves to Commercialize New Tech

Health Services Company, Care 4U, Receives First Enterprise Center Nano-Loan Funding

Digital Marketing Company, Big Cloud Media, Continues Growth with New Ownership

UMW Student Team Analyzing New Business Opportunities for Downtown Fredericksburg

ScoutComms B-corp CEO, Fred Wellman, is Virginia’s Small Business Veteran of the Year

3-D Minds Entrepreneurs Make Their Mark on the Maker Movement

UMW to Host 2nd Annual Private Investment Summit

VBIA Strengthening Rural Business at Summit in Wytheville Virginia

Blacksburg Jeweler Capone’s Positioning for the Long Term

Our Partners

1125 Jefferson Davis Highway Suite 400 Fredericksburg VA 22401 540-654-1096 engagement@umw.edu

Newsletter Editorial Staff: Mark Speirs mspeirs@umw.edu Heather Wheeler hwheeler@umw.edu

Add Me to the Mailing List

UMW Center for Economic Development

Newsletter

Cyber Company CRISP LLC Moves to Commercialize New Tech

Arnold Webster, CEO of Cyber Research and Intelligent Solutions Provider LLC (CRISP), is an innovation client at the UMW SBDC. CRISP was formed to be a cutting-edge research firm. They create products which address the risks of living in a more digitized economy. Recently Mr. Webster's company was accepted into the Virginia SBDC Network’s Innovation Commercialization Assistance Program (ICAP). This program assists Virginia companies in developing technologies and getting innovation to validated markets.

Kevin O’Connor, Shine Systems and Technologies, Dr. Terry Woodsworth, Chief Scientist, Shine Systems and Technologies, Dr. Ernest McDuffie, The McDuffie Group, and Arnold Webster, owner Cyber Research and Intelligent Solutions Providers (CRISP)

The UMW SBDC helps clients complete the application process which includes a detailed product description. All product submissions are assessed for their viability in the market place. Mr. Webster shared, YOUR BUSINESS RESOURCE FOR CONSULTING, TRAINING, AND RESEARCH.

ince 1992, the University of Mary Washington Small Business Development Center (UMWSBDC) has provided assistance to the small business community via management training, industrial and demographic research, and confidential one-on-one consulting with a focus on capital access and management planning. For further information , please access the link below.

http://sbdc-umw.com

“The guidance of the University of Mary Washington SBDC in this process has been invaluable. In turn, ICAP has been extremely instrumental in the commercializing new technology with various scientists and cybersecurity subject matter experts.” Once CRISP enters the commercialization phase, they will again work with the SBDC to create a business model. Webster emphasized that “this opportunity will not only help bring jobs to the area, but will help ensure that people that rely on digital technologies will be able to do so in a more secure manner.”

http://economicdevelopment.umw.edu/

UMW Center for Economic Development

Newsletter

Health Services Company, Care 4U, Receives First Enterprise Center Nano-Loan Funding Shenita Rich, owner of "Care4u Home Care, received funds from the Northern Neck Nano Loan Program to grow her business. Care4U is a client of the UMW-SBDC Warsaw Office and a resident of the Northern Neck Enterprise Center (NNEC). The NNEC is a business incubation center established to help accelerate small company success in collaboration with the University of Mary Washington Center for Economic Development. According to Ms. Rich, “Care4U Home Care will offer Attending—owner Shenita Rich, Joy Corprew, and Lisa Hull

personal care to clients in the comfort of their own homes.” Some of the services offered will include but are not limited to

help with activities of daily light housekeeping, transportation to and from appointments, and preparing light meals. The UMW SBDC helped Ms. Rich complete and submit information to the Virginia Department of Licensure that, once approved, will allow her to provide the in-home services throughout the Northern Neck community. The Northern Neck Enterprise Center is part of an overall strategy of the Northern Neck Chesapeake Bay Region Partnership to create an entrepreneurial ecosystem YOUR BUSINESS RESOURCE FOR CONSULTING, TRAINING, AND RESEARCH.

http://sbdc-umw.com

http://economicdevelopment.umw.edu/

in the Northern Neck. It supports businesses in the early stages of organization to maximize chances of business success. Lisa Hull of the Northern Neck Planning District Commission stated, "With the assistance of USDA-Rural Development and the Virginia Department of Housing & Community Development, the Northern Neck Loan Program is designed to assist new business owners such as Shenita Rich with Care4U Home Care, who are responding to needs in the community with high-quality professional care."

UMW Center for Economic Development

Newsletter

Digital Marketing Company, Big Cloud Media, Continues Growth with New Ownership Big Cloud Media, a successful client of the UMW Eagleworks Business Incubation Center, is getting new ownership. Koji Flowers started Big Cloud Media in 2008 in San Antonio Texas. He moved the company to Fredericksburg in 2013 and was introduced to EagleWorks through Dr. Mark Safferstone. After 8 years at the helm Koji has sold Big Cloud Media to business partner, Paul Baptist, to pursue new ventures. When Koji first began his tenure at EagleWorks in early 2014, he knew the supportive environment would catalyze his growth objectives. In his first 14 months Big Cloud Media tripled sales year-over-year and doubled the average scope of

Koji Flowers (top left) with former partner and new owner Paul Baptist and lead designer Shaindel Arana.

project services. Koji credits EagleWorks with being “instrumental in the growth of Big Cloud Media.” Paul Baptist, new owner of Big Cloud Media will continue to grow at EagleWorks. He remarked, “We’re really grateful to Koji for building this company up into such a respected name in the region, and look forward to guiding Big Cloud Media as it moves into its next phase." Paul has already added some new capabilities to the company in the area of contract-

Work. Meet. Grow.

he University of Mary Washington’s Center for Economic Development offers a business incubation center that extends business development services to local start-up and early-stage companies looking to grow their enterprises. Our incubation programming supports entrepreneurs through our access to professional networks, office facilities, consulting services, peer engagement opportunities, and other business resources. For further information , please access the link below.

ing. Koji embraced the community culture of EagleWorks. He worked with other clients in the program, provided design work for the Virginia Business Incubation Association, and was a 2015 nominee for the Donna Noble Award for Exemplary Achievement. He noted, "Eagleworks made doing business easier and was a consistently excellent experience all around.”

www.umweagleworks.org

http://economicdevelopment.umw.edu/

UMW Center for Economic Development

Newsletter

UMW Student Team Analyzing New Business Opportunities for Downtown Fredericksburg

The UMW Center for Economic Development partners with Professor Chris Garcia and student teams from his Research Methods course to develop analysis models for decision makers at Fredericksburg Main Street Inc. Once again those students will flex their statistical analysis skills in gathering, calculating, analyzing, and presenting their findings. This partnership is a way to support student and faculty engagement with local businesses in advancing applied research for enhanced strategic decision making for the region. The UMW Center for Economic Development collaborates with Fredericksburg Main Street’s Economic Restructuring Committee. Mark Speirs (left), CED Coordinator of Regional Initiatives, reviews data with the student team for the GAP analysis project

This semester the students are performing a ‘Gap Analysis’ of the Main Street area district. A gap analysis is used to determine the gaps in the industry composition of commercial and retail areas similar to downtown Fredericksburg.

A gap analysis compares several communities from across the United States in like, kind, and quality metrics. These similar communities or “comparables” are then graded by industry segments to see if any viable segments in other communities are underrepresented in the downtown area. A report and presentation will be provided by the students at the conclusion of the

Regional Initiatives COLLABORATE. PROMOTE. ADVANCE

he Office of Regional Initiatives is the Center for Economic Developments outreach section with responsibilities including engagement, communication, and research. In addition the Office of Regional Initiatives works with faculty and students in providing research and analysis for local business, NGO’s, and economic development agencies. For further information , please contact Mark Speirs at engagement @umw.edu or access the link below.

economicdevelopment.umw.edu/center-forregional-initiatives/

semester. Remarked one of the student team leaders, “The ability to apply our classroom training to a real world business question makes the project

Brian Baker, Executive Director of the CED, explains the importance of balancmore enjoyable and ing objective with subjective analysis

satisfying. It really

allows our team members to see the connection between what we are learning in class to how that learning relates to solving real business problems and issues.”

http://economicdevelopment.umw.edu/

UMW Center for Economic Development

Newsletter

ScoutComms B-Corp CEO, Fred Wellman, is Virginia’s Small Business Veteran of the Year The University of Mary Washington Center for Economic Development began hosting it’s first peer advisory group on July 18th, 2013 with the formation of the Veteran Owned Small Business Executive Roundtable (VOBER).

Mr. Fred Wellman, (LTC-ret.) CEO and Founder of ScoutComms B-Corp, was recognized for the Virginia Small Business Veteran of the Year achievement at the 2016 Veterans in Business Conference. A graduate of West Point and the Kennedy School at Harvard University, Fred launched ScoutComms as a premier communications, advocacy and philanthropic strategy firm focused entirely on supporting veterans, military families and the organizations that empower them. He noted, "I wanted to make a difference. The way Charles McCaffrey, Brian Baker, Crystal Wellman, Fred Wellman, Congressman Gerry Connolly, Susan LeeMerrow, and Jody Keenan

we support advocacy for our veterans is made more real by our Benefit Corporation status. It represents a transparency and accountability that inspires how we do business. It is how

we can influence a movement." During his over twenty years in the Army, Wellman served as an officer in aviation and public affairs. He founded ScoutComms in November 2010 upon recognizing the lack of military veterans in the public relations

VOBER

agency sector. Over the brief history of the company

SERVING COUNTRY. GROWING THE ECONOMY.

ScoutComms has worked with the U.S. Chamber of Commerce Foundation ‘Hiring Our Heroes’, Wounded Warrior Project, The Home Depot Foundation, GE, the Institute for Veterans and Military Families at Syracuse University, The Elizabeth Dole Foundation, Semper Fi Fund, BP America, Prudential, and many others. Mr. Wellman is a member of the Veteran Owned Business Executive Roundtable at the UMW Center for Economic Development. He was recognized as the UMW Veteran Entrepreneur of the Year in 2015.

http://economicdevelopment.umw.edu/

usiness owners tend to share common challenges. A peer advisory group engages business owners with like interest for purposes of learning new approaches and solutions to business problems and challenges. For further information, or for an application to join, please access the link below.

http://economicdevelopment.umw.edu/veter an-owned-small-business-assistance/ 6

UMW Center for Economic Development

Newsletter

3-D Minds Entrepreneurs Make Their Mark on the Maker Movement

Two innovative UMW students, Ryan Barlow and Carlos Ramirez, brought their enterprise to EagleWorks this semester. They are both Junior Physics majors with a passion for exploring the world of 3D printing. Carlos and Ryan have plans to sell 3D printed products through their business: 3D Minds. According to Ryan and Carlos, “The goal of 3D Minds is to educate and

Ryan Barlow and Carlos Ramirez using their EagleWorks space to develop their business ‘3D Minds’

expose people to the technologies of 3D printing and see what interesting applications we can find with other university departments and the local community.” Ryan was impressed with the capabilities and potential of the 3D printing world after

Work. Meet. Grow.

taking a freshman seminar course with Education Professor George Meadows. Last year Ryan purchased his own 3D printer. With this equipment, he and Carlos are excited to explore independent commercialization opportunities and conduct research and development projects. Professor Meadows, well known for his

For further information , please access the link below.

work with the Maker Labs at Central Rappahan-

www.umweagleworks.org

nock Regional Libraries, is helping to invigorate interest in designing and making things. http://economicdevelopment.umw.edu/

UMW Center for Economic Development

Newsletter

2nd Annual Private Investment Summit Thursday, May 12, 2016 8:30am—12:00pm

Are you a business interested in pursuing private investment? Are you an investor looking for opportunities? This Summit can provide you with the tools to succeed. The agenda includes presentations

2ND ANNUAL PRIVATE INVESTMENT SUMMIT

by experts speaking on topics relevant to Private Investment. Topics will include the angel investing ecosystem, angel investment mentoring, and becoming an angel

Being held at

investor. In addition there will

University Hall

be a roundtable event hosted

Located at the UMW Stafford Campus 125 University Blvd. Fredericksburg, VA 22406

by Dan Loague of the Washington DC Archangels, “Join

2015 Private Investment Summit at the University of Mary Washington, Stafford Campus

this session to learn more about the startup investor’s toolkit of strategies and techniques for working with exciting new startup enterprises”. Take your first steps into the Private Investment market by joining us at the 2nd Annual Private Investment Summit.

For more information, email ced@umw.edu or call 540-654-1096. http://economicdevelopment.umw.edu/

Complete speaker list and agenda will be published soon. Registration Is Now Open.

UMW Center for Economic Development

Newsletter

VBIA Strengthening Rural Business at Summit in Wytheville Virginia

The Virginia Business Incubation Association will be in Wytheville this year for itâ&#x20AC;&#x2122;s 1st Rural Business Incubation Summit. This will be the first time the conference has been held in Wytheville. Join incubation and entrepreneurial support professionals this year as we explore home based business growth, youth entrepreneur-

The Bolling Wilson Hotel in Wytheville, VA

ship, and rural business challenges. The VBIA Rural Business Incubation Summit will be hosted at the Bolling Wilson Hotel in Wytheville, VA. The elegant George Wythe Ballroom, with its high coffered ceilings, historic terrazzo tile floors, large windows and French doors, will be the backdrop for this yearâ&#x20AC;&#x2122;s summit. VBIA is hosted at the UMW Center for Economic Development. Learn more about the association at www.vbia.org .

Advancing business incubation in virginia

Wytheville, VA

BIA is an education and networking association for professionals who support entrepreneurship, small business development, and the advancement of incubation throughout the Commonwealth. For further information, please access the link below.

www.vbia.org/ Startup Wythe In 2016 Business Idea Competition http://economicdevelopment.umw.edu/

UMW Center for Economic Development

Newsletter

Blacksburg Jeweler Capone’s Positioning for the Long Term When you hear names like Tiffany & Co. which is synonymous with luxury, and the House of Fabergé, known for its intricately designed, jewel-encrusted eggs, you might not make a strong connection to Capone's Jewelry in downtown Blacksburg, but it's there. In 1986, Faith and Thomas Capone opened Capone’s Jewelry in downtown Blacksburg, specializing in custom jewelry design and repair, and well known for their one-of-a kind designs and selection that have kept clients coming back for 3 decades. Capone’s Jewelry is truly a family affair. Faith is a Master Goldsmith who has created thousands of unique jewelry pieces across decades, while Truman is an international and national award-winning artist and designer. Both Faith and Truman attended the Gemological Institute of America along with traditional college and schools of art and jewelry. Their son, Austin, who also attended GIA and the School of Capone’s Jewelry new location at 301 S. Main St. #100

Blacksburg, VA

Jewelry, is an integral part of their business, as is their daughter-in-law, Caitlin, who is proficient in beading, stringing and social media. Capone’s Jewelry is

rounded out with Master Goldsmith Kirk Burkett, who was educated by Lithuanian masters of the House of Fabergé. Since founding their business, the Capone's had leased space on the second floor of a fairly non-descript building just off of North Main Street in the heart of town. As Faith and Truman contemplated the growth and succession of their business, they knew a move would be a critical part of that equation. Utilizing REDCO and the

LOCATED AT THE

SBA 504 Program, and in participation with First Bank of Virginia, the Capone’s recently transitioned from years of renting to purchasing a larger space on South Main Street. "Relocating to The Brownstone on the corner of South Main and Washington has provided the expansion opportunity that Capone’s Jewelry and our dedicated clients have needed for a long time," states Faith. Now in a brightly lit, single floor, 2,000-square-foot retail and studio space, Capone's showcases its brilliant, one-ofa-kind, precious jewelry pieces and rare collection of fine jewelry. REDCO is located at the UMW Center for Economic Development www.economicdevelopment.umw.edu/ . http://economicdevelopment.umw.edu/

OUR PARTNERS SUNTRUST Bank - Executive Partner Fredericksburg VA Main Street Inc. Spotsylvania Department of Economic Development Virginia Business Incubation Association Compton & Duling - Attorneys At Law Employ-An-Eagle The Town of Kilmarnock Rappahannock Economic Development Corporation Caroline County Department of Economic Development FRANNET Franchise Opportunities Stafford County Flair Communication King George County Small Business Administration George Mason University Procurement Technical Assistance Program SonaBank Essex County City of Fredericksburg Economic Development Colonial Beach, Virginia Fredericksburg Regional Chamber of Commerce Virginia Economic Development Partnership Westmoreland County Fredericksburg Regional Alliance King and Queen County Northumberland County Northern Neck Planning District Commission Virginia SBDC at the University of Mary Washington County of Lancaster Richmond County Middle Peninsula Planning District Commission Greater Richmond Chamber of Commerce Middlesex County Virginia Department of Small Business and Buyer Diversity King William County

http://economicdevelopment.umw.edu/

Professional Service Partners: From left to right, Terri Tosti, Debby Girvan, Lamont Brown, Geary Rogers, Jamie Scully.

Mission: The University of Mary Washington Center for Economic Development collaborates with business, government, education, and private parties to promote personal, professional and economic growth by advancing knowledge through entrepreneurship, small business development, innovation and competitiveness, research and analysis, and outreach and engagement. Vision: To be recognized as a Leader that connects the region with the global community.

1125 Jefferson Davis Highway, Suite 400 540-654-1096

Fax: 540-654-1400

Fredericksburg, Virginia 22401

http://economicdevelopment.umw.edu/