The Dayton Region Entrepreneurial Signature Program (ESP) is a key initiative of the Dayton Development Coalition’s strategy to grow the Region. With over 60 start-up businesses and 5 profitable exits in the portfolio since its inception in September 2007, the program is making a significant difference in growing the Dayton Region’s focus areas: Aerospace Systems, Advanced Materials & Advanced Manufacturing, IT & Advanced Data Management, Human Sciences & Healthcare.
The program’s goal is to make investments that support individual entrepreneurs and grow the Region’s key cluster areas.
To-date, the Entrepreneurial Signature Program has generated 454 initial jobs through creation and retention efforts from its portfolio clients. Subsequently, there have been 123 direct jobs created, 21 indirect jobs, and 269 induced jobs (created as a result of increased customer spending). In the next 3 years, the program is projected to have even greater results:
In 2012, ESP achieved $194 million in outside market validation, a measurement used by the State of Ohio to assess how companies are performing in the marketplace. This has significant meaning to the program, validating that sound investments have been made, but more importantly, that ESP companies have been growing and expanding, creating high skilled and high wage jobs.
For every one dollar of ESP investment and development services awarded, thirteen dollars in market validation has been realized. As a result of high portfolio performance, almost 35% of the capital contributed by its investors has been returned in a four year period, for a ten year fund. This is yet another testament to the quality of the technology companies in our Region and the strong market demand for their products.
The Dayton Region ESP is supported by the Ohio Third Frontier and local investors who have raised $22.5 Million to grow the Dayton Region’s entrepreneurial talent and spur economic growth.
The commercialization framework shown above represents the 5 phases of commercialization:
- Imagining (idea generation and proof of concept); Incubating (technology validation and business structure development)
- Demonstrating (market acceptance)
- Market Entry (developed market share opportunities)
- Growth & Sustainability (proven financial stability or exit strategy development).
The framework is the road map used by the Entrepreneurial Signature Program (ESP) to identify and evaluate businesses when entering the ESP portfolio. The Dayton Region ESP invests in entrepreneurs throughout each commercialization phase, but concentrates efforts most heavily in the incubating and demonstrating phases. Get an Entrepreneurial Signature Program application today.