NCI Partners with ODU to Help DOD Contractors Develop Commercial Lines of Business

The TempO Rapid Commercialization program offers government contractors, sub-contractors, and those dependent on federal spending the opportunity to:

• Reduce the volatility associated with federal contracts and appropriations,

• Develop scalable ideas, services, and products into commercial market revenue generators

• Determine if there is a viable commercial business model for an idea, product, or service

“NCI is pleased to partner with ODU-IIE to bring the TempO program to companies in rural Virginia”, said Karen Jackson, NCI’s interim executive director. By helping these companies diversify into commercial markets they will be better positioned to withstand the volatility of federal spending and appropriations cycles”.

Past program participants have so far reported a combined total of over $5 million in new annual revenue and investment capital.

“ODU’s TempO program is excited to team up with New College Institute to build entrepreneurial capacity in the region. Working together to help this first group of companies and individuals will result in developing a local capability to guide companies through the startup process and create new business.”   Jerry Cronin, Director ODU-IIE TempO

Under the guidance of mentor/coaches, participants will create and validate a business opportunity model, plan for execution, determine financial requirements, and determine where and how to fund new commercial business lines including pitch preparation, grant identification, and introductions to potential funders and investors.

Old Dominion University’s Institute for Innovation & Entrepreneurship, TempO is funded by a grant sponsored by the Commonwealth of Virginia into Tempo’s Rapid Commercialization program.

Cohorts of 6-7 participants are being formed.  There is no cost to participate, however interested companies should contact Steve Goad, ODU-IIE program coordinator at hgoad@odu.edu or 757-683-3272 to be considered for this innovative program.