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Agenda

Agenda. Welcome/introductions Program history and expectations Agency roles Discussion on Entrepreneurship What and who in a community? Important Dates. Adjourn. History. Economic Development Working Group Stakeholder Survey Statewide Response Primary Focus of ED Professional

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Agenda

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

  2. 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…..

  3. 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.

  4. 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.

  5. OCRA IEDC/SBDC • Establish a Program for Students • Promote a Program with OCRA • Review Student Business Plans with SBDC • Conduct preview event and auction • 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

  6. 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.

  7. 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

  8. 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)

  9. Community Thoughts • Infrastructure • Human Capital • Assets • Surveys • Plans • Ordinances • Incentives • Quality of Place

  10. “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

  11. 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?

  12. Dates to remember • March 15 Monticello-Ivy Tech • March 22 Indianapolis-Government Center • March 28 Scottsburg-Mid-America Tech Park • April 5 Huntingburg-TBD • Register at: http://www.in.gov/ocra/2654.htm ALL TIMES for the Regional Workshops: 9-11:30AM • April 25 Young Entrepreneur Expo • University of Indianapolis

  13. 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.

  14. 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

  15. Questions?

  16. 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

  17. Contact Information • ISBDC Noelle Dunckel Program Coordinator--ISBDC One North Capitol, Suite 700 Indianapolis, Indiana 46204 317.232.0160 ndunckel@iedc.in.gov www.isbdc.org • OCRA Michael Thissen Senior Advisor-OCRA One North Capitol, Suite 600 Indianapolis, Indiana 46204 317.509.0657 mthissen@ocra.in.gov www.ocra.in.gov

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