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January, 2007
From Our Women in Business Issue
Community Report
Midtown--the process
Sometimes a project is as much about the process of getting there--the engagement of the community--as about the project itself. One of the most intriguing aspects of the upcoming process to decide whether the city should buy Midtown Plaza, is the potential to leverage an impressive array of local talent to assist in making that decision.
Midtown is unusual in the panoply of big investments in this city. Rochesterians are emotionally attached to this property and have deep personal affection for its glory days. Perhaps it represents a desire to return to a less complicated time when we had one community centerpiece that we all proudly shared. Will we lose an icon somehow tied up with how we define ourselves as a community?
Engaging a wide variety of local experts and leaders in creating a vision for MidtownÕs redevelopment is a wise move. Architects will be invaluable because they understand how pedestrian spaces work and how buildings are an intrinsic part of the character of a place. Investors, real estate developers, and lenders will be crucial in testing the market viability of different redevelopment schemes. Commercial real estate brokers will reflect whether the market can be drawn to this reconfigured city block, regarding leases for space and the potential to attract new patrons and customers. The higher education, arts and cultural, and government experts can best judge the potential for uses generated out of those market sectors.
The advantages to city ownership of Midtown at the front end of the redevelopment process are numerous. Our perception has been that it will take government intervention at some level to break the redevelopment logjam that has emerged with the past three owners. We also know that large-scale ÒgreyfieldsÓ redevelopments like Midtown Plaza elsewhere in the country almost always require a public/private partnership to make them viable, and to attract private investment.
We need to really 'own' Midtown again as a community. A galvanizing and engaging process in the upcoming months will make that happen.
HEIDI N. ZIMMER-MEYER
ROCHESTER DOWNTOWN DEVELOPMENT CORPORATIONWWW.ROCHESTERDOWNTOWN.COM
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 Opportunities for Networking
Greater Rochester Enterprise will be joining us for a very special first networking event of the new year at Monroe Community College on Tuesday, January 9 beginning at 5:30 p.m. (a week later than usual, due to the New YearÕs holiday). GRE leadership will provide an update of their many exciting successes in economic development for the greater Rochester area over the last year as well as some of their latest initiatives. In addition, youÕll have the opportunity to network with the folks from GRE as well as the rest of the Digital Rochester crowd.
Our Rising Stars series continues on January 18, featuring the founders of two successful companies that are new to Rochester's Top 100: Andre Godfrey from Entre Computer, and Joe Oster of Structured Technologies. Rising Stars, a quarterly event, showcases the entrepreneurs who are building some of Rochester's most successful technology companies. Come and hear their personal stories and meet the individuals behind Rochester's "rising stars" at Mario's Italian Steakhouse, 2740 Monroe Avenue.
Our last Technology Job Fair in September helped hundreds of job seekers check out several hundred professional positions available with 49 employers in the technology industry. We're busy planning our fourth Technology Job Fair with the High Tech Business Council to be held in late February or early March. If you're an employer in the optics, life sciences/bio-tech, engineering, software development, IT or telecom industries, looking for technical or professional talent, don't miss this opportunity to recruit lots of high-quality applicants. Details are available at digitalrochester.com/jobfair/. Space is limited, so sign up soon!
Mark your calendar for our upcoming networking events: Tuesday, February 6 for Networking on the Road, and Tuesday, March 6, when we'll be celebrating DR's own version of "March Madness!"
Events for EntrepreneursWe are pleased to share information about three important events for greater Rochester's entrepreneurial community: The 2007 Rochester Entrepreneurship Conference, the 2007 Rochester Regional Business Plan Contest, and the 2007 Golden Horseshoe Business Plan Contest. The 2007 Rochester Entrepreneurship Conference is a community event designed to promote and encourage entrepreneurial behavior and economic growth within the greater Rochester community. The conference features distinguished keynote speakers and offers concurrent sessions for potential entrepreneurs, current entrepreneurs, and those commercializing technologies. This year's session tracks are Starting High Potential Ventures, Accelerating Venture Growth, and Commercializing Technology Ventures. The event will be held at the University of RochesterÕs Simon School of Business on Friday, January 19, 2007. Online registration is available at www.htr.org. The 2007 Rochester Regional Business Plan Contest is designed to encourage entrepreneurship and advance new, high-growth ventures in the greater Rochester, New York region. Three winners will each be selected to receive a customized business development and support package, including a cash award and in-kind services, to help grow their new ventures. Registration for this year's contest will open in early January, and contestant Business Plan Workshops will be held from late January through early March. Final business plan submissions will be due in mid-April, and the Regional Finals event will be held the first week of May. This year is also expected to mark the start of the exciting, new Golden Horseshoe Business Plan Contest, drawing on contest winners from the participating communities in the 'Golden Horseshoe,' including Syracuse, Ithaca, Rochester, and Buffalo in New York State and Hamilton and Waterloo, Canada. The Golden Horseshoe Finals Event location will rotate from year to year, but is being held in Rochester for 2007. Winners will also be selected to receive cash prizes. Please see www.htr.org for the complete calendar of Entrepreneurship Conference and Business Plan Contest events, workshop dates, and application forms.
HIGH TECH ROCHESTER...The innovator's Edge WWW.HTR.ORG
One Stop Shop--
Streamlining Economic Processes
In May 2006, Mayor Duffy announced an initiative of analyzing and streamlining some of the city processes that currently exist at City Hall. Towards that end, the city arranged for experts from the Greater Rochester Quality Council (GRQC) to assist the city in the Lean Six Sigma process. One of the mayor's initiatives is to create and incorporate a streamlined and expedited economic development process--One Stop Shop--that includes the permit application process required for development.
Currently the development process requires an array of permits, approvals, and time which result in a somewhat cumbersome and confusing process, resulting in dissatisfied customers. Many of the current systems and procedures in place today cross several departments and require several board approvals. In addition, local municipal code establishes our zoning, permit requirements, and building regulations.
Because we own the process, adjustments and improvements are being evaluated which would result in a streamlined permitting process, reduced development time, faster project completion, and enhanced customer service. This Six Sigma permit project aligns with the overall business strategy of developing a One-Stop-Shop, as potential investors and businesses will need only a single point of contact to get development assistance.
A permit Six Sigma team comprised of individuals from the Departments of Environmental Service, Community Development, and Economic Development has been reviewing, documenting, measuring, and brainstorming the current permit process. Our analysis and recommendations will focus on the potential of reducing the quantity of permits required, application time, and associated costs, creating a streamlined process. We have set our objective and target to clarify the permit process and our success will be measured by increased customer satisfaction and a faster project start date for quicker economic development.
RAN Seeks Applications from Start-ups
The Rochester Angel Network is actively seeking and accepting applications from start-up companies looking for investment.
Established and managed through Greater Rochester Enterprise (GRE), the Rochester Angel Network (RAN) is a private group of 28 accredited investors with an interest in investing in seed and early-stage startups.
RAN is currently accepting applications from early-stage companies with highly scalable business models. Companies of interest include those with:
¥ high-growth potentialÑtens of millions of dollars in revenue or more
¥ a national or international customer base
¥ a completed business plan
¥ a reasonable exit strategy within approximately four to seven years of investment, such as a merger/acquisition or initial public offering (IPO)
Since its founding in 2005, RAN has made six investments totaling $2.5 million in five regional companies. Those companies are: Connected Energy Corp., a developer of remote-control solutions for the management of distributed operations; Geospatial Systems Inc., a designer of aerial and terrestrial surveillance systems; Lumetrics Inc., an optics-based instrument company; New Scale Technologies Inc., a manufacturer of miniature ceramic motors; and SmartPill Corp., a developer of capsule-based medical devices. Investments typically range from $250,000 to $1 million. To learn more about RAN, please visit the Network's Website, www.rochesterangels.com. |