Presentation on theme: "PRESENTED TO YOU BY… Presents: Small Business Services – Part 2 Hear from two creative chambers whose programs: Engage small business members Improve the."— Presentation transcript:
PRESENTED TO YOU BY… Presents: Small Business Services – Part 2 Hear from two creative chambers whose programs: Engage small business members Improve the business climate Advance Economic Development
PRESENTED TO YOU BY… Doug Minter – Business Development Manager
What? PROPEL: is an economic development program serving the growth of small businesses within the Knoxville-Oak Ridge Innovation Valley. This initiative is administered by the Knoxville Chamber, is focused on three main verticals: 1. Small business ecosystem coaching/navigation, 2. Intentional small business mentoring 3. Support of workplace & marketplace diversity & inclusion.
Why Mentoring? “We believe that mentoring is the Next “Manhattan Project” for small business development” 1.Chambers are in a fight for relevance to the small business community. 2.We are challenged by incubators, accelerators, economic gardening programs, peer to peer programming. 3.Chambers have one distinct resource that no-one has direct access to…A consistent pool of potential Mentors
How did we start? Developed Pilot Program Official Launch We have 20 mentor protégé teams with combined revenues of $13,633,000 and 117 employees. We would like to see that number grow to between $17 million and $20 million in revenues. Would like to see 50 to 60 new jobs within two years. Since the inception of the pilot program in 2009 we have graduated 14 protégés, produced over 90 new net jobs, and over $50 million in economic impact (Based on Sales by industry Type).
What do the Protégés get? Mentoring Approach Coaching Technical Assistance Visionary Mentoring The research sited the key benefits of the mentor/protégé relationship from both the mentor’s and protégé’s perspective. Key themes sited by Protégés were: Friendship Role modeling Support & Encouragement A qualitative analysis was conducted by professors from Harvard, Cal Poly, and Queens College on the Knoxville Chamber’s Mentor Protégé program. Formal research findings were presented to AOM (Academy of Management) conference in 2011 in San Antonio, Texas. Research also presented to IAMB (International Academy of Management & Business conference in Washington DC in 2013.
What do the Mentors get? Key themes sited by Mentors were: a.Friendship b.Personal Gratification c.Reinforcement of Knowledge Mentors sited that they experienced: a.New supplier relationship b.Enhanced networks c.Achievement of strategic/economic inclusion goals
Chamber Annual ROI At 30 protégés: Membership revenue + Non- Dues Revenue + Sponsorship Revenue: $36,000 Total What Do Chambers Get? Doug Minter