Newsmaker Q&A: Speir boosts business incubation at UNC

Incubators aren’t for chickens. At least not according to Ryan Speir, the recently chosen leader of the University of Northern Colorado’s new business incubator.

As former chief operating officer and interim chief executive of the Rocky Mountain Innosphere and serial entrepreneur, Speir said he knows the guts it takes to put your money where your dreams are and start your own company. The Business Report spoke with him to find out more about his plans for the new incubator and why he thinks it has the potential to be a boon to businesses all over Northern Colorado.

Question: There were more than 50 applicants for the top position at the incubator. Why do you think you were the one chosen?

Answer: I’d guess the mixture of character, experience and drive are unique. The University of Northern Colorado knows the importance of culture. Character values are where culture starts. A good or great culture is a key component for overall success, especially in a service industry. I’ve started companies and know the value of a hard day’s work. If you haven’t put in the time at a startup, well then, you haven’t put in the time at a startup. Lastly, when it comes to getting a business going or new products launched, there’s no substitute for drive. Drive is that compelling force that causes activity.

Q: Many incubators seek out startups in particular industries. Will UNC’s incubator do the same? If so, what industries will be your focus, and why?

A: Sure. First we’ll look at all applicants on their business merits. The incubator will target particular industries for strategic or regional strengths that can best benefit from business incubation. Our strengths differentiate us as a community. Maybe it’s the next United Agri Products or Startek or a great hospitality and tourism company like Vail Resorts or Xanterra. Colorado is terrific at building things. Perhaps it’s the next development, architecture or construction company like a McWhinney, Hensel Phelps, Neenan or Roche Constructors. It might be a mix of companies that work well together.

Q: Are there enough startups in Northern Colorado to necessitate two incubators? How will you differentiate yourself from the Innosphere?

A: Absolutely. If you said two ‘tech’ incubators, the answer might be different. UNC is leading the way with a complementary or mixed-use incubator. It might be agriculture-based or a spin-out company from an existing business in the food service industry. The opportunities to get more business done are endless when you combine incubators with the entire region being a benefactor.

Our state is known for mixed-use business incubation. We have one of the first mixed-use incubators in the world right here. The Grand Junction community started The Business Incubator Center after another Wall Street crash in 1987. The local business leaders weren’t satisfied betting their wealth with stockbrokers in distant cities. You have zero control of your destiny when you send investment capital out of state. In the ensuing years their incubator played a huge part in launching and funding more than 250 businesses. It also had an active role in creating more than 10,000 jobs in the community and generating more than $200 million in revenue and investment. In 20 years, Grand Junction doubled in size. One interesting fact is that when they started their incubator, the per capita income for Grand Junction and Greeley was practically identical. Now Grand Junction has a per-capita income that is nearly 20 percent higher than Greeley, according to the U.S. Department of Commerce. That, right there, is a call to action.

Q: What are you looking for in the first companies to be housed in the incubator?

A: We look for top prospects and ways to provide them access to new and useful resources. We want people who seek the challenge of being the best. We want committed people who can make tough decisions. We’ll work hand in glove with the Small Business Development Center to look at management, industry, solution, business model and more in pursuit of helping companies capture as much value as they can. We’ll look for ways to combine subject matter experts and mentors with award-winning research from the University and UNC’s Monfort Institute to remove barriers for success and create the next generation of business.

Q: How will the incubator work with UNC to foster an entrepreneurial culture at the university and the surrounding area?

A: UNC already has an entrepreneurial culture from the Board of Trustees through the resident’s and provost’s offices to Monfort College of Business and its renowned Entrepreneurial Challenge. When you award $50,000 in prize money to the best-of-the-best entrepreneurs every year, people take notice. The incubator will build stronger ties to the investment and business community. It will promote the entrepreneurial culture with a larger audience.

The incubator will work to further develop early-stage companies with strong potential for commercialization. This includes work with technology-transfer operations by matching businesses with talent and funding opportunities.

Q: You’ve been working with startups and growth companies for more than 20 years. What draws you to them, and why have you dedicated so much of your time to new businesses rather than committing to a more established, stable company?

A: Part of it is the challenge. I was lucky enough to be on some excellent sports teams when I was young and got addicted to the challenge. To be the best, even if it is just for a moment in time, is an incredible feeling. Once your hard work is rewarded, it changes you. Life can take a lot of things away. Those are often just things. It can’t take away your feelings or experience. Those become a part of who you are as a person.

Another part is the journey. I enjoy the learning and discovery process. Startups and scale-ups test your mettle. There’s nothing easy about a new business or product launch. I tip my hat to anyone who’s bold enough to bet on themselves and go for it. That’s what makes this country great. We have that spirit. We venture forth, swallow our pride and stand up to embrace risk and seek reward. Job security at a more established company is an illusion; there’s a fresh list of 29,000 former HP employees that would agree.

Our actions define us. Community is who we are and business is what we do. It’s an honor and a privilege to be able to work on both community and business. I’m grateful for the opportunity to serve and can’t wait to get this party started.

– Maggie Shafer
Correction: An earlier version of this story, in the first paragraph, mis-identified the university that houses the incubator. It is the University of Northern Colorado.

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