Technology Incubator
Mar 21, 2018

Action Plan Meeting from 3/20/2018




Yesterday, Tuesday, 20 March 2018, our action group had our first meeting following the Knowledge Park Action Plan unveiling three weeks ago. We had a great showing of local business leaders and discussed how the city can best foster business growth.


The primary topic that was discussed is establishing a shallow fund through RHEDC that can help startups get through funding gaps and to help match state allocated funds to help other businesses relocate to Knowledge Park. Attendees discussed different ways they've seen funds like this establish and its levels of success and failure as well as how it could fit into Knowledge Park. There are multiple ways we could see this fund help our local startups. The fund would be shallow with the intention of helping businesses with funding gaps they can run into when they just start out.


The group is going to spend the time until the next meeting learning more about this revolving loan fund and how it could be effectively created and implemented in the community. The next meeting will kick off with this topic and then determining what other actions we think are necessary for job and business growth in Knowledge Park. The next meeting is scheduled to be at the Technology Incubator on Tuesday, 17 April 2018, at 3:00 PM and will end promptly at 4:00PM.

New Posts
  • derek.b.lotts
    5 days ago

    Before we get deeper into what makes a great side hustle, it’s important to define the term side-hustle, to begin with. First of all, it’s an activity that doesn’t require too much active involvement on your part. This allows you to keep doing your day-to-day work and avoid sacrificing too much of your free time in this pursuit. This side-income can be used to boost your cash flow, improve your lifestyle by affording some small luxuries that you keep close to heart, etc. All in all, here are a couple of ideas that more than qualify. Freelance writing One of the things you can try is freelance writing for blogs and newsletters. The best thing about this as a side-income lies in the fact that it doesn’t take much work, due to the fact that no one forces you to accept more than you can handle. Even a single post per week might somewhat improve your financial situation but if you’re one of those people to whom writing comes quite naturally, you can go for freelance writing in a bit more serious manner and commit to it somewhat harder. Career in art The next thing you need to take into consideration is a career in art. Never before was this so closely attainable. First of all, an artist in 2019 has a chance to publish their own work, on their own, which is definitely not a small feat. For instance, a writer can publish their novel via a Kindle Direct Publish on Amazon, while a photographer (even a smartphone photographer) can find a platform that specializes in stock image retail. All in all, you have so many options. Property investment One of the best ways to create a passive side income is to become a landlord but in order to do this, you need to learn a thing or two about property investment. First, you need to find organizations like FM Investment , that specializes in seminars, fairs and lectures about property investment. This will help you pick and manage your property. Other than this, you also need to learn how to screen potential tenants, as well as how to make the place more appealing to others. The vacancy is a huge problem and a serious money-loss for your enterprise, which is why you need to figure out a way to bring this down to a minimum. Once you get the ball rolling, nonetheless, the process is, more-or-less automatic. Dropshipping e-commerce business If trading is your thing, you might want to consider starting an e-commerce business. By opting for a dropshipping model , you get to be a trader, a middleman. You get to be someone who just closes the deal and delivers it from retailer/supplier to the consumer without ever actually getting a hold of the product. This means that you’re not in charge of the logistics like the manufacturing, storage or even delivery. You’re there merely to close the sale and get your share of the profit. Make a blog Why not turn your passion into a lucrative business and share your knowledge, opinions and stances on various topics with the world? First of all, blogging can, indeed, be a full-time job. However, you can start with something a tad more modest. Don’t rush to fill it with content. Write about your own experience instead of hiring content writers and contributors right away and take your time. Soon, the ad money will start rolling in and you will have a passive stream of income from doing something that you’re genuinely passionate about. It just doesn’t get any better. Conclusion The very last thing you need to keep in mind is the importance of your time management. Once your side hustle starts taking more time and effort than your day job, you might be in a problem. Here, you’ll face a dilemma on whether to just drop it or commit to it full-heartedly. Until that point, it’s just an extra source of income.
  • derek.b.lotts
    6 days ago

    One of the biggest challenges that small enterprises encounter in the business world is the problem of security. Namely, there’s a misconception that in order for your business to be secure, you need to make massive investments in this sector and this is not necessarily true. You see, security is mostly a matter of your own effort and engagement, as well as how hard you can commit to this cause in the long run. All in all, here are the top five tips on how to make your startup more secure. Outsourcing cyber-security The first thing you need to consider, when it comes to your cybersecurity, is the fact that you can just outsource it. This means that you leave all the work to professionals, get to cut costs and make the administrative side of your job a lot easier to handle. Why? Well, you now have one less department to manage. Keep in mind, nonetheless, that choosing who you should outsource your cyber-security to is not a simple choice to make. So, try to make your decision based on some serious facts and considerations. BYOD security policies The next thing you should take into consideration is the BYOD (bring your own device) phenomenon. Virtually every single one of your employees, at the very least, uses their smartphone to check on corporate emails. The problem lies in the fact that this is a massive liability from the standpoint of security. So, try to come up with a BYOD security policy and make sure that every single one of your employees is aware of it. Also, keep in mind that not everyone will embrace it right away, which is why you should be extra vigilant for the time being. Physical security of premises Protecting your business in the digital world is a high priority but it’s definitely not enough. What you also need is to physically protect your premises. Why? Well, in order to keep your inventory and staff safe. For starters, you need a reliable alarm monitoring system by JD Security . This way, you’ll be able to detect any breach in time to react. Hiring a security guard, investing in a fence and a gatehouse can also be quite effective if you decide to keep the surroundings of your office safe, as well. All in all, you have so many options to look into. Better hiring process Regardless of how vigilant you are about your company’s security; this won’t do you much good if the hazard comes from within the company. This is why you need to upgrade the hiring process of your enterprise. Still, just because someone doesn’t have a criminal record or a history of employee theft, this doesn’t mean that they’re completely reliable. There’s a first time for everything and not every instance of employee theft gets reported or even discovered. In other words, you need to implement a number of procedures (from regular inventory to peer system) in order to prevent some of these things. Visitor management system Even if your team is well-vetted, from time to time, you’ll have to bring in some visitors to the office. When left unsupervised, these people are both a liability and a threat to both your security and themselves. Fortunately, with a great visitor management system, some of this threat can be mitigated. First of all, you need a check-in system, in the form of a device or an old-school application form. Second, you want them carrying badges or even security vests while on the premises. Lastly, you do not want to leave them unsupervised, which is why they need to be assigned a guard at all times. Conclusion The worst mistake that you can make here is underestimating the significance of one aspect of security in favor of another. All it takes is a single crack for your business to suffer from consequences that it might never recover from. So, make sure to plan everything out and take a systemic approach to the matter of security as a whole.
  • Technology Incubator
    May 3, 2018

    "The Opportunity Zones program is designed to incentivize patient capital investments in low-income communities nationwide. All of the underlying incentives relate to the tax treatment of capital gains, and all are tied to the longevity of an investor’s stake in a qualified Opportunity Fund, providing the most upside to those who hold their investment for 10 years or more." Hopefully both of these articles are useful tools for understanding why our group is seeking to creating a pool of funds to help promote entrepreneurship in Knowledge Park. This can be one of the most effective tools to give people a chance to start a business and to help start-ups get through funding gaps. Our group will continue discussing this at our meeting this afternoon.