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Agenda Welcome/introductions Program history and expectations Agency roles Discussion on Entrepreneurship What and who in a community? Important Dates.

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Presentation on theme: "Agenda Welcome/introductions Program history and expectations Agency roles Discussion on Entrepreneurship What and who in a community? Important Dates."— Presentation transcript:

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2 Agenda Welcome/introductions Program history and expectations Agency roles Discussion on Entrepreneurship What and who in a community? Important Dates. Adjourn

3 History Economic Development Working Group – Stakeholder Survey – Statewide Response – Primary Focus of ED Professional Business Attraction, BR&E, Infrastructure Development – Formal Training and tools on ED reflects primary focus (Conferences, BBC, OJT etc…) – Entrepreneurship was identified as a medium range focus, However…..

4 History Entrepreneurship is at the top of the list of tools that respondents want to learn more about and become familiar. Entrepreneurship is a key driver in local economies wanting to diversify. ED professionals want to learn more about grants/loans and how one might support small business startups and sustaining businesses who want to grow. We are seeing this in some recent independent examples.

5 HEA 1252 (2011) IEDC/SBDC and OCRA are charged with connecting business proposals of students enrolled in an entrepreneurial program at in- state educational institutions to communities interested in seeking new business attraction.

6 OCRA Establish a Program for Students Promote a Program with OCRA Review Student Business Plans with SBDC Conduct preview event and auction IEDC/SBDC Engage Communities with potential of the program Promote a Program with SBDC Review incentives and assist in preparing bids Participate in preview event and auction

7 What does this mean for Students? Provide Opportunity to match a business plan and ideas. Seek input from experts in field. Make a pitch to potential supporters of their plans. An opportunity to embed in a welcoming community and have a support system.

8 What does this mean for communities? Exploring potential and partnerships Exploring incentives What can the community bring to the table? Are there regulatory parameters? Does not have to be monetary Finding the right match Managing expectations Failure is a possibility. Responding to challenges

9 Entrepreneur What is the definition? What does it mean? Young people are looking more at quality of place “Mom and Pop” vs “Gazelle Hatching” Legacy transfer. Resource and Research (SCORE, Kauffman)

10 Community Thoughts Infrastructure Human Capital Assets Surveys Plans Ordinances Incentives Quality of Place

11 “Incentives” to Consider Experienced entrepreneurs who can serve as mentors Active network of peer entrepreneurs Attorneys with expertise in intellectual property Accountants and business services (marketing, graphic design, etc.) Pool of qualified potential investors Available space at reduced or no cost Health insurance High-speed broadband Presence of patents and intellectual property Openness to Diversity Other young people (i.e., young professionals network) Community amenities

12 Community Thoughts What assets are there to stimulate start- up businesses? Who should be on the community team to attend the April 25 session? What should be part of the community plan/ordinances to attract business in general?

13 Dates to remember March 15Monticello-Ivy Tech March 22Indianapolis-Government Center March 28Scottsburg-Mid-America Tech Park April 5Huntingburg-TBD – Register at: ALL TIMES for the Regional Workshops: 9-11:30AM April 25Young Entrepreneur Expo University of Indianapolis

14 What to Expect Overview and update of the program Examples of entrepreneurship in communities Brainstorming session Who should be part of the team at the exposition on April 25. One on one Technical Assistance with the YEP team.

15 Timelines OCRA – Work with Communities on bid packages on if a good match is found. – Community submit bids after April 25 event. – Announcement in June IEDC – Continued engagement with Student finalists – Assist student in selecting bids from communities. – Announcement in June

16 Questions?

17 Thanks to: Indiana Small Business Development Center Indiana Economic Development Corporation Purdue Center for Regional Development Ball State University-Building Better Communities Rural-Urban Entrepreneurship Development Institute at Indiana State University Center for Applied Research at University of Southern Indiana Indiana Economic Development Association

18 Contact Information ISBDC Noelle Dunckel Program Coordinator--ISBDC One North Capitol, Suite 700 Indianapolis, Indiana OCRA Michael Thissen Senior Advisor-OCRA One North Capitol, Suite 600 Indianapolis, Indiana


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