Location matters even when launching a non-retail business. While many entrepreneurs start their new companies in a spare bedroom or at a dining room table, some launch their new ventures from an office outside the home right from the get-go. Although dollars-per-square-foot, business equipment and location are common considerations, the difference between business success and failure is often not space or machines. Sometimes, it's softer things, like personal connections, ongoing training, camaraderie and expertise. These resources are often only found in a business incubator.
If you've never heard of a business incubator in our community, don't feel badly. Unfortunately, they're a well-kept secret. They offer more than just a solo office but cost less than a full staff of experts and a suite of business equipment.
I surveyed three business incubators in Reno and Sparks recently to find out what makes each one unique and what type of business they best serve. Coincidentally, they are all located in downtown Reno. Full disclosure: I did some part-time marketing for C4CUBE earlier this summer.
C4CUBE
C4CUBE The Center for Unique Business Enterprises is located at 300 E. Second Street, across the street from Aces Ballpark, on the 14th floor. Their number is 775-622-9900. With its views of the upper floors of downtown Reno and covered parking, it has a San Francisco vibe. "The CUBE" targets startups with technology and IP (intellectual property,) specifically in biotech/biomed, green energy, security, and entertainment. There is an application process, and applicants must be invited to be incubees. There are 20 individual offices (with doors!) for incubees and virtual incubation too. There is a large meeting room for up to 50 people that also overlooks downtown Reno. Once a month, the CUBE offers a Business Opportunity Meeting, where entrepreneurs can pitch directly to investors, usually for $500,000 to $4 million. Incubees have access to the Experts in Residence in manufacturing, accounting, science, social marketing and intellectual property law.
When I asked Lynne Keller, executive director, for three distinct attributes, she said, "access to funding (both angel investment and debt) experts in residence and the downtown, big-city location."
The Reno Collective
The Reno Collective, which recently moved to 522 Lander St., is in a brightly updated former mansion just behind My Favorite Muffin on California Street. ( 775-391-3045). It has a collegial and techy vibe. Colin Loretz, a co-founder, says they target professionals in technology and creative, such as software programmers, web designers, web video makers and graphic designers. Clients can office on a daily or month. There is primarily open workspace and a few private and shared offices. I got a sense that a web programmer could easily find a videographer to collaborate with for a client.
Loretz said what makes the Collective distinct are its "creative/ talent focus (they've already attracted two prestigious "Tech Stars,") the Reno-Collective University, which teaches both business and technical skills, and a focus on young entrepreneurs with events like Lunch with TED on Wednesdays, Beer:30 at 4:30 on Fridays, Hacknights and Ignite Reno.
The Reno Co-op
The Reno-Sparks Local Business Co-op is in the basement of 1301 Cordone Ave. (775-224-2242). It's in a neighborhood and reminds me of an underground commune. That's not all bad think "skunk works" of the 1980's. I also know I made the most sales when I had the worst-located, smallest, darkest office, so maybe its location will inspire others to success. The space is surprisingly cheerful. The co-op's founder, Dave Asher, is the leader of the area's "Buy Local" movement, so almost everything at the Co-op is locally sourced. There are no individual offices; desks are rented or shared. They have a large training room that will hold 80 people comfortably and three other, smaller rooms for meetings which are not in the basement. Their target client is not technical usually an entrepreneur who is literally starting from scratch, a company downsizing or upsizing, and trainers. I admire Asher for saying, "If you want to build a software company, I'd send you to the Collective or the CUBE."
Asher says what makes the co-op special is, "the building is freshly painted throughout, a turn-key offering (includes computers, printers, a personal website, a radio show, networking events and even office supplies,) and the live local/ buy local culture."
Granted, an office outside the home is a big step, both financially and emotionally. For businesspeople focused on success who are launching or growing their company, business incubators in the Reno area are worth consideration.
Michelle Nichols of Reno is the founder of Global Hug Your Kids Day, the former sales columnist for BusinessWeek, and a cheerleader for economic development in northern Nevada. Contact her at 303-8201 or hugs@hugyourkidsday.com.
SIDEBAR
Two other interesting options
* Bosma Business Center, in Reno, will open around October of this year. (www.thebosmagroup.com). It's not really a business incubator because companies are expected to stay and not necessarily outgrow their space, but it has a specific focus providers of professional services, like lawyers, consultants and accountants.
* NIREC Nevada Institute for Renewable Energy Commercialization in Incline Village. (www.nirec.org). NIREC provides strategic consulting and venture assistance to early-stage technology innovators, energy project developers and economic development agencies to accelerate the commercialization of clean energy solutions. It's a business incubator with a narrow focus on energy.
