The Goleta Entrepreneurial Magnet incubator marked its one-year anniversary last month with change, including the appointment of a new executive director.
Dave Adornetto, the director of UC Santa Barbara’s Technology Management Program, has assumed the lead GEM job for a departing Doug Lynch, who left in July to pursue other endeavors after holding the post two years.
Adornetto’s appointment illustrates the larger role UCSB is taking in GEM, the partnership of the Goleta Valley Chamber of Commerce, the city of Goleta and the university to nurture science and technology startups and to keep them local.
“It seems to be a great new direction,” said Goleta Valley Chamber president and CEO Kristen Miller. “I really think the benefit is that it fulfills the original promise.”
Adornetto will work part time at GEM, and Goleta chamber director of business development David Hunt will split his time between chamber duties and GEM, where he’ll be more in charge of the day-to-day and signing up startups.
Adornetto has served as TMP director since last year. Before that, the Goleta native and UCSB grad was an executive at InTouch Health.
“I was a logical choice to assume the role of executive director of GEM due to my role at UCSB leading entrepreneurial student teams through TMP’s New Venture Competition,” he said, noting that Lynch laid a strong GEM foundation. “Our objective at GEM is to leverage the relationship with UCSB and capitalize on the many synergies that exist in terms of developing educational content and a mentorship network for GEM start-ups.”
Miller said Adornetto would help with recruiting startups out of UCSB — a problem for the second-floor incubator space at 600 Pine Ave. in Old Town Goleta.
Although 15 entrepreneurs are currently in the space, that’s only 43 percent occupancy, Miller said.
GEM was aiming for 85 percent.
“We definitely weren’t seeing as much utilization of the space as we had originally planned,” Miller said. “There’s just not a one size fits all. Our intention was never to just fill it up.”
Adornetto describes GEM as a “safe landing place” for young entrepreneurs who can’t afford higher rent elsewhere, and can benefit from the subsidized rent at the incubator within the ATK Space Systems building.
In addition to a new leader, Miller said, GEM could look at moving. A location hadn’t been ironed out, but she said entrepreneurs indicated some clients had a hard time finding the place.
The space is getting a makeover in the meantime. Twelve cubicles are being torn down to make way for more networking and communication — a change startups favored.
The incubator is also getting new bicycles to lend to GEM tenants, a foosball or air hockey table, and will continue offering programming.
Goleta City Manager Michelle Greene had nothing but good things to say about the change.
“The city remains supportive of GEM and its mission,” she said this week. “As with all great endeavors, the ability to know when to make adjustments is critical. We see the leadership structure changes as necessary for the continued growth and health of the program.
“We look forward to the continued partnership with UCSB and the chamber, and working with Dr. Adornetto as the new executive director.”
Lynch told Noozhawk he would remain indirectly involved in GEM, although he’s moving back into small-business consulting with Maui Masterminds, where he’ll enjoy a more flexible schedule.
He’s also teaching in the MBA program at Antioch University, and plans to stay involved with TMP at UCSB and with Santa Barbara City College’s Scheinfeld Center for Entrepreneurship & Innovation.
“It was just time for both of us to do something different,” Lynch said. “Now it’s on to GEM 2.0.”
— Noozhawk staff writer Gina Potthoff can be reached at gpotthoff@noozhawk.com. Follow Noozhawk on Twitter: @noozhawk, @NoozhawkNews and @NoozhawkBiz. Connect with Noozhawk on Facebook.