We provide: access to New Technologies, Energy Assistance and SBIR/STTR.
Access to Technologies
The WTBC focuses on developing early stage,
technology-based companies, with an emphasis on high-growth firms. All client companies located in the incubator receive one-on-one business counseling and executive coaching services provided by the WTBC staff based on their stage of development. WTBC counseling is focused on educating entrepreneurs on business activities essential for growth in each stage and helping the entrepreneur to focus on relevant activities for the stage they are currently in. Our program is designed to help client companies grow larger and faster than they would otherwise, and to increase the ability of the entrepreneurs to grow and manage their own businesses.
Statewide networking opportunities are available through an educational networking group called e2e Wyoming that is designed to improve the climate for the start-up and growth of entrepreneurial companies.
- Energy Audits for reduced consumption and State grant qualification.
- Sales tax exemption analysis for manufacturers.
- Renewable energy generation potential evaluation.
Logistics and framework for administration are needed for things such as budget, cash flow, banking, accounting, legal, technical and other skills. These can be in house or contracted out. Clear understanding of the supply chain of producing the product (vendors, subcontracts, raw materials, etc…) as well as distribution (retail, wholesale, point of sale, distribution, follow through, warranty issues, service after the sale) are important.
Administration and personnel issues must be addressed: HR management, communication, etc.
Production will need to become more efficient and lean to keep up with demand. A pipeline of different products or services will need to be developed. This can be an exciting and chaotic time for a business. There will be many irons in the fire along with satisfaction in the fact that you made it past the new stage.
Efficiency training should be looked into because the business has been around for a while and there will inevitably be some waste. Start looking at the innovation/product pipeline and make sure there is something in the pipeline in order to keep growing and not fall into decline.
A declining business may be in “extreme cost saving” mode. Inability to showcase capabilities to potential new customers due to lack of resources. Unable to purchase safety equipment due to lack of income leads to increased safety concerns in operation.
A business that is in decline will need the following: money, an understanding of how and why it is at the point on the curve. Investors may be interested in keeping it going. It may be time to have an honest conversation about when to pull the plug, or a new direction for the company if the investors are willing to foot the bill.
WHAT CLIENTS ARE SAYING