History of the EEC

 

  • EEC Established in 2008
    • Key Initiative of the NCCCC Economic Development Council
    • Vision: to nurture a strong, vibrant entrepreneurial ecosystem
    • Goal: to build Jobs in DE & NCC
    • Only small business incubator in DE
  • 2013 – Taking it to the Next Level
    • Approved as 501(c3) Charitable Organization by IRS
    • Reorganized around key concepts
      • Business Incubation
      • Business Education
      • Entrepreneurial Advocacy
  • Role of Incubators
    • Most supported by gov’t agencies at state/local level, universities, Economic Development Agencies and private sector donors
    • Create jobs at lower cost to gov’t vs. other infrastructure projects
  • EEC Funding
    • Original – Congressional Earmark Grant – SBA – 3 years starting September 2009
    • 2013 – State funding  – DEDO
    • NCCCC Funding
    • Rent & Fees paid by companies
    • Local  Business Sponsorships