From Napkin Idea to $68 Million: How Velocity Built a High-Tech Incubator That Actually Works

What does it actually take to run a high-tech incubator in a public-private partnership — and make it work at scale? In this episode, Molly King is joined by Taylor Sherbine from the EIC team, plus Paula Macpherson, Executive Director of Velocity in Sterling Heights, Michigan, and Meghan Hubbs, Velocity's Small Business Program Manager, for a candid conversation about what it looks like to build, fund, and grow a thriving innovation ecosystem.

Velocity is one of 21 Michigan Economic Development Corporation-designated Smart Zones and one of three international landing zones in the state. In just a few years, they've gone from half a building being dark to 100% occupancy with a 12-business waiting list, and grown their investment attraction numbers from $19.2 million to $68 million in a single year. Paula and Meghan share exactly how they got there.

In this episode, you'll hear:

• How Velocity serves businesses from "idea on a napkin" all the way through their high-tech, medtech, and small business accelerator tracks
• Why they built one unified intake instead of multiple forms and how that decision transformed their data quality
• What it means to collect data for your organization, not just for your funders and why that distinction changes everything
• How signature programs like Donuts in Defense, Founders First Friday, CEO Roundtables, and Coffee and Conversation were born out of real community gaps
• The challenge of tracking investments and follow-on funding when entrepreneurs are too busy (or too private) to self-report
• What happened when they stopped trying to be everything for everyone and what that focus unlocked
• Practical tips for attracting businesses in defense, aerospace, hard tech, and manufacturing sectors

Paula's lesson on scaling is one you'll want to write down: "We can't be everything for everyone. Get really good at what you do well [and] find partners for the rest. The growth follows."

Whether you're an economic developer, incubator manager, SBDC director, or community builder, this episode is packed with real-world insight from practitioners who've done the work.

Connect with Velocity: https://www.mivelocity.com/

Connect with EIC: https://www.economicimpactcatalyst.com/