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Update: TECH Fort Worth: Business & Technology Incubator

August 28, 2008

In my last post, I wrote about my initial thoughts of TECH Fort Worth (TFW), the self-described “Business and Technology Incubator” here in Fort Worth.

Brent Sorrells, TFW’s Operations Manager, was kind enough to show me around the TECH Fort Worth facilities and tell me more about what they are all about.

The history of TFW is a little stormy. The organization started out in 1998 as MedTech and was focused on medical device technologies and the Health Industry. Over time, the non-profit (which it still is today), seems to have experience a high turnover of directors and vision/purpose.

Since Brent and current Executive Director, Darlene Ryan joined TFW in 2006, the murkiness of the TFW mission has been refined and clarified to what it is today.

The overriding focus? Help entrepreneurs with solid ideas backed by some proprietary technology (in most cases) build a business here in Fort Worth that will impact the local economy and create jobs.

TFW aims to accomplish that through their relatively recently created Incubation and Acceleration progams.

The Incubation program consists of hands-on workshops designed to help entrepreneurs answer three questions about their potential business: So What? Who Cares? Why You? The program also helps entrepreneurs hone their business plans, set up seed money from savings, family or friends and apply for any applicable state or federal grants.

The Acceleration program is aimed at companies that are already executing on their vision to some level, and provides resources, consulting and coaching to take it the ‘next level.’ The program gives companies access to subsidized office space and consultancy services, mentorship and coaching on pitching to investors and even access to the insanely expensive Frost & Sullivan database (in 3 markets). That fact alone could pay for the program fees many times over if a company take advantage of it.

TECH Fort Worth is subsidized heavily by the City of Fort Worth (the 3 paid TFW employees are actually City employees ‘on loan’ to TFW) as well as the University of North Texas Health Science Center (where 3 TFW Accleration program clients reside).

On a service by service level, it appears that what entrepreneurs and companies get for the cost of a TFW program is a pretty good deal. Brent also says that the fees help weed out entrepreneurs who are serious about building a business that will benefit Fort Worth in the future.

That being said, because the current TFW programs are relatively new, they don’t yet have a shining beacon of success they can point to as a justification of the cost and proof they are really adding value to their client companies and the Fort Worth startup community at large.

In addition, TECH Fort Worth is facing a shrinking subsidy from the the City of Fort Worth as it struggles to get its budget under control. How this will affect the ability of TFW to serve its clients and not raise fees remains to be seen.

Overall, the impression I got of TFW is pretty positive and I think that it will prove to be an asset to the entrepreneurial community here in Fort Worth as it matures under its current vision. However, it’s not for everyone. For example, the TFW staff and many of their consultants aren’t deeply involved or connect with software/web technologies and may not be the best fit for the next big internet startup.

TECH Fort Worth

1120 South Freeway

Fort Worth, Texas 76104

Phone: 817.339.8968

  • Fax: 817.810.0167
  • Email: info@techfortworth.org
  • Attention: Brent Sorrells

Map of TECH Fort Worth - Guinn Facility

Written by Bradley Joyce · Filed Under Blog, Startups 

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