The Kiln Foundation

PROJECT PURPOSE

The Kiln Foundation (Kiln OKC) is developing a flexible and affordable community hub and incubator for entrepreneurs and startups within its 16,000+ sq ft space on the Canal in Bricktown to assist aspiring entrepreneurs, startup founders, and early-stage businesses. Kiln OKC?s mission is to convene experts and curate pathways to serve multi-faceted entrepreneurs in Oklahoma City through a no wrong door environment. We provide access to anyone who desires to build a business for the betterment of their community and future generations through entrepreneurship-led economic development interventions. This project would create the first all-inclusive entrepreneurship center in the downtown Oklahoma City area with a business incubator for tech-enabled companies, a third party accelerator for startups, and community workstations for aspiring business owners and entrepreneurs. In addition, we connect entrepreneurs to capital and technical assistance through business planning assistance, mentorship programs, professional development, community ecosystem programs and events, access to WiFi, conference rooms, contact with venture capital/funding partners, and pathways to metro and regional resources.

EVIDENCE

The Oklahoma Department of Commerce Small Business Incubator Certification Program 2021 Annual Report listed three state certificated Incubators in the Oklahoma City area (36 around the state) and Kiln OKC will submit for the certification in 2022. The Department of Commerce reports the economic impact 274 of the graduated businesses remained in the state and in 2021, more than 1,600 jobs were created by incubator clients. In 2008, the National Venture Capital Association and IHS Global Insight found that for every $1 of venture capital invested from 1970-2008, $6.36 of revenue was generated in a single year in 2008.

POPULATION DESCRIPTION

According to the 2020 Executive Summary of the ?Oklahoma City Community Economic Recovery & Resiliency Study? by Ernest and Young, ?Distribution of business ownership in Oklahoma City is not proportional to the city?s racial population distribution. In general, businesses owned by people of color in Oklahoma City (and across benchmarks) have fewer employees and lower sales and revenue than those owned by White individuals.? The Kiln OKC plans to create an inclusive advisory committee to focus on the needs of our local entrepreneurs while creating a hub and spoke model of reaching out to all entrepreneurial ecosystem partners for our members. Being less than 3 miles from the heart of Northeast Oklahoma City and Capitol Hill allows Kiln OKC to work with the Black and Latino business communities when main resources are in the suburban areas of Oklahoma City. Kiln OKC is located on the 015 Bus Line, on the OKC Streetcar route, and less than 1 mile from the EMBARK Transit Center. Additionally, Kiln OKC will establish funding pathway programs and revenue model education to support business owners in understanding how to best prepare their business financially.

PERFORMANCE MEASURING

Incubator tenants will be required to submit annual data and financial for the Oklahoma State Certified Incubator requirements. Kiln OKC will collect the following data: Number of clients and tenants, Number of Program offerings and attendance, Number of community partnerships and sponsors, Space occupied, Technical mentors and programs, Capital received by clients and tenants. Member surveys and tracking via the Entrepreneurship Center Software will be used to create an activity report.

ONGOING INVESTMENT AMOUNT

$

ONGOING INVESTMENT DESCRIPTION

None

ONGOING INVESTMENT REQUIRED

Able to continue operation without additional funding from the State of Oklahoma