“This program will help some of our region’s most innovative minds overcome a barrier to entry into the market,” said Ray Bowman, SBDC director of Ventura and Santa Barbara Counties. “There are a lot of great products out there that don’t get past the prototype phase because the developers or engineers don’t have the resources to create the renderings and market the product effectively. This new program will alleviate that problem and determine if these products have a market.”
The cost of development of the prototypes is well below market rates, noted Bowman. The SBDC will also conduct environmental testing and analyze the feasibility and cost of a product’s mass production. Companies can access the program through the Economic Development Collaborative-
The SBDC is funded by the SBA and provides professional business assistance at no cost to businesses. Participating businesses are required to follow a well-defined scope of work and report their economic successes. These SBA milestones are defined as job creation, increase in sales, capital investment, jobs retained and business started.
EDC-VC is a private, nonprofit organization that serves as a business-to-