Cleveland County has an abundant entrepreneurial ecosystem, allowing entrepreneurs access to a broad and diverse array of business expertise that is rarely available through business incubation programs, said Coalition President and CEO Lawrence McKinney.

“No other community in Oklahoma has attempted, much less succeeded, in what we’ve announced today: a one-stop shop where emerging businesses can receive those typical services, plus potential seed funding, intensive and personalized support, and venture capital funding too,” he said.

Thursday’s announcement signals the transformation of Startup 405, from a business incubation center to a comprehensive one-stop shop offering daily, weekly, and monthly co-working space, seed money, as well as potential venture capital funds and services. In addition to workspace, entrepreneurs will have access to business expertise ranging from accounting and legal guidance to advice on sales, marketing, branding, and human resources. Startup 405 Programming will be provided by the Startup 405 Advisory Board, Boyd Street Ventures, the Tom Love Innovation Hub at OU, SCORE (Society of Retired Executives), SBDC, and others.

Boyd Street Ventures Founder and General Partner James Spann said his venture capital firm was established in Norman to help bring Oklahoma innovation to the world while generating healthy returns for investors taking the risks.

“The Cleveland County ecosystem has outstanding potential for growth” Spann said. “We have tremendous confidence that the economic development expertise of The Coalition, the outstanding incubation services of Startup 405, and the strategic and operational guidance provided by the BSV Venture Studio will synergize and create significantly more economic activity than we might do singularly.”

District 1 Cleveland County Commissioner and Board of Commissioners Chairman Rod Cleveland said this partnership is elevating Cleveland County by providing a well-thought- out, comprehensive strategic plan for prosperity. “This is just the first of many visionary strategies we will pursue to make sure Cleveland County is the #1 county for business, in the #1 state for business.”

Norman Mayor Larry Heikkila said Oklahoma’s third-largest city is in the midst of an economic renaissance, highlighted by a $1 billion entertainment district development plan on the west side and exciting new business growth potential on the east side. “In partnership with Cleveland County, BSV, and the private sector Sooner Centurions, we want to see locally
grown entrepreneurs emulate local business leaders like Hal Smith, Ken Parker, Sean and Scott Baumann, Pete Wilson and others, by starting companies, growing them locally, and expanding them nationally and even internationally,” Heikkila said. “Cleveland County entrepreneurs have proven repeatedly that it can be done here, and they did it without the support or physical space that this new joint venture will provide future entrepreneurs.”

District 2 Cleveland County Commissioner Jacob McHughes said innovation is happening at a faster pace than ever. “For Cleveland County to meet the needs of our cities and citizens, we must embrace change in a direction of our choosing, at a time and place of our choosing. This is that time. This is that place.”

1. A shared workspace, mentorship, specialized workshops, design and prototyping guidance, and accounting, legal, sales and HR basics from Start-Up 405.

2. Founderadvisory, go-to-market strategy, talent sourcing, branding and marketing strategy, and connections to partners and investors from BSV’s Venture Studio.

2. The creation of a $2 million Cleveland County Centurions Growth Fund – which will be funded with $1 million from the private sector and a $1 million match by the state, managed by Boyd Street Ventures. Its purpose is to support 20-30 Cleveland County entrepreneurs with $50,000-to-$200,000 investments.

3. An annual Beyond-the-Norm Innovation Week, every April during OU’s Spring Game – commencing in 2025 – promoting Cleveland County’s spirit of creativity and entrepreneurship and providing a showcase to expose local entrepreneurs to prospective investors, customers, and partners. One highlight of the 2025 event will be the dedication of the “Cleveland County Innovators Hall of Fame,” which will honor current and former Cleveland County residents who have brought extraordinarily innovative approaches to the fields of business, science, technology, and the Arts. A second component will be the Shark Byte Entrepreneurial Expo where entrepreneurs will compete in a competition for cash prizes and six months of free space and services in the incubator. There will be High School, Technical School, College and University, and Cleveland County business categories for entrepreneurs with a dream.

4. A countywide talent attraction program, Cleveland County Futures, powered with a state-of-the-art A.I. engine. The early version of this program, founded in Cleveland County, received a $250,000 National Science Center grant, and will now enter phase two within the Incubator, positioning Cleveland County at the forefront of talent attraction nationwide.

About Boyd Street Ventures

Boyd Street Ventures (BSV) is a groundbreaking, early-stage venture capital firm connecting institutional and other investors to high-growth investment opportunities foudned and developed by entrepreneurs from Oklahoma and elsewhere. BSV places Pre-Seed, Seed, Series A, and follow-on investments in the Life Sciences, FinTech, Energy Tech, Aerospace & Defense, and Climate Tech sectors. The firm focuses on under-the-radar startups that are less likely to have their prices overbid and overpriced than startups targeted by larger VC firms on teh East and West Coasts. This focus, coupled with its unusualy active involvement in providing de-risking strategic and operational counsel to its protfolio companies thorugh its Boyd Street Venture Studio, enables BSV to target above- average returns for investors. For more infomration, please visit http://boydstreetventures.com

Established in 1996, The Coalition is a public-private effort of the University of Oklahoma, the City of Norman, Cleveland County, Moore Norman Technology Center, and the private-sector Sooner Centurions. Its primary focus is the creation of well-paying jobs by attracting new companies, expanding local companies, and growing start-up companies. Since 2001 it has operated three incubators and generated more than 758 jobs at an average salary of $58,500. Today, it is open to all technology firms that meet eligibility requirements and is particularly focused on women, veterans, and Native Americans, all disproportionately affected by COVID- 19. For more information, please visit Startup 405.

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