The pandemic challenged businesses in new ways, putting events and plans on hold. But the small business community in Dayton hasn’t missed a beat.
Dayton is at the beginning of its startup-oriented renaissance and the Entrepreneurs' Center (EC) is poised to help assist future community growth.
Scott Koorndyk, president of the Entrepreneurs' Center, is confident the region will see a continued influx of new companies in 2022, pushing the region toward another record year. Koorndyk said the region has consistently broken records in the entrepreneurial space the last five years, even during the pandemic.
The startups that began their business journey between 2020 and 2021 show resilience. Koorndyk believes these small business owners will emerge with a clear sense of their brand and how to move forward for growth.
“They did the hard work during the pandemic,” Koorndyk said. “They built great companies and great technologies. As the markets improve, to the extent that they will improve, they're going to take advantage of that. They are perfectly positioned.”
Koorndyk said the upward momentum for the small business community is only beginning and entrepreneur-focused spaces like the Hub at the Dayton Arcade are proof.
“Dayton hasn’t closed, it hasn’t shut down," he said. "Dayton is vibrant and active and you’re just seeing more and more proof of that.”
EC in recent years has linked itself to other like-minded organizations in the startup ecosystem such as Launch Dayton, the Greater West Dayton Incubator and Aviatra Accelerators. Koorndyk said these partnerships bring more business and success to companies in the region, resulting in continuous record revenues and investments in the area.
EC also has taken the time to focus on its own growth.
The organization grew from three employees in 2016 to 24 in 2022. It’s seen growth in revenue from less than $1 million to almost $6 million in that time, serving a cross-section of over 1,000 clients locally and nationally.
EC offers a range of mainstay programs to help small businesses in the region, from financial aid and resource connections to investment and growth opportunities.
Here are a few of the programs highlighted for 2022:
- The Entrepreneurial Services Providers (ESP) program – providing services to entrepreneurs such as patent attorneys, market research, prototype development and more. Of the 90 technology companies currently in its portfolio, ESP participants have contributed $210 million in economic impact to the region since 2018.
- The Rotunda Fund – a new investment fund started this year for growing small businesses with base revenue that need additional financial help to grow and scale.
- The Angel Network – the center is working to roll out programs to identify businesses that are ready for investment with the Vision Tech Angels community and bringing new angel investors who are willing to back small businesses.
“Our results have demonstrated that we as a community are doing remarkable things to support small businesses,” Koorndyk said. “I would rather be nowhere than in Dayton, Ohio right now. I think it's the best place to start and grow a business on the face of the earth.”
