Indiana Business Growth Network
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Transcript of Indiana Business Growth Network
The Indiana Business Growth NetworkThe Indiana Business Growth NetworkNational Economic Gardening Conference
Winter Park, FL
May 19, 2011
Scott HutchesonPurdue Center for Regional Development
Catalyze Research-Based Economic Development & Entrepreneurship
Catalyze Research-Based Economic Development & Entrepreneurship
• 75,000 students statewide• Research I University• Top-Ranked Programs in
Engineering, Business, & Agriculture
• Four University Research Parks
• Founded in 2005• Organized within the Purdue Office of Engagement• Works in Areas Like:
– Innovation & Talent-Based Economic Development– Community-Support Systems for Entrepreneurship– Creative Use of GIS and Data Tools for Regional
Development
• Speaking, workshops, civic forums
Our Model: Asset-Focused, Regionally-Organized, & Our Model: Asset-Focused, Regionally-Organized, & Network-Based Network-Based
Our Early Learning Lab: Our Early Learning Lab: North Central IndianaNorth Central Indiana
• 14 counties, 15 cities, 5,577 square miles• Two population centers
– Lafayette/West Lafayette – 88,362– Kokomo – 46,074
• Most of the region is rural
Our PartnersOur Partners
• Federal: DOL, EDA, SBA, NIST• Philanthropy: Kauffman, Edward Lowe, Purdue Research
Foundation, Community Foundations• State: Indiana Economic Development Corporation, Indiana
Small Business Development Center, Indiana Department of Workforce Development
• Higher Ed: Purdue, IU Kokomo, Ivy Tech Community College• Local & Regional: Extension, LEDOs, SBDCs, K-12,
Incubators/Tech Parks, Workforce Boards
Our Project PortfolioOur Project Portfolio
• Entrepreneurship Peer Networks• Energizing Entrepreneurship• Companies to Watch• Eureka Winning Ways• Zoning for Home-Based Businesses• Business Plan Competitions• STEM Entrepreneurship Camp• K-12 Teacher Training• Skunkworks• Economic Gardening• Entrepreneurship Certificate Program• Technology Showcases• Angel Network Events
ImpactImpact
• 227 K-12 teachers trained to teach entrepreneurship
• 1,536 students (future entrepreneurs) enrolled in entrepreneurship programs
• 1,851 existing and emerging adult entrepreneurs trained
• 654 new products, services, and top-line growth ideas created
• 102 business plans developed
• 10 new start-up business launched
• 353 jobs created or retained
• $3.5 million in industry cost savings realized
• $1.6 million in industry sales growth
• $4 million in industry sales retained
80% of these initiatives have been sustained beyond the initial investment
Indiana Business Growth NetworkIndiana Business Growth Network
• The Indiana Business Growth Network (IBGN), managed by the Purdue Center for Regional Development, helps leaders of second-stage companies grow their businesses and assists civic leaders make their communities great places to start and grow businesses.
IBGN (Present & Future) Support ServicesIBGN (Present & Future) Support Services
• Serve as liaison to the NSRT and ELF
• Convene local/regional shareholders to consider and plan for implementation
• Make presentations to LEDO boards, local industry groups, and other groups
• Provide listings of Second-Stage Companies
• Administer the billing and invoicing function
• Conduct 6-month, 12-month, and 18-month follow-up impact surveys
• Produce video testimonials of participating companies
• Accompany LEDOs on “sales calls” to potential participating companies.
• Provide customizable marketing materials
• Work with state and federal partners to help garner support of the IBGN program
For More InformationFor More Information
Scott HutchesonPurdue Extension & Purdue Center for Regional Development
Burton D. Morgan Center for Entrepreneurship1207 W. State Street, Room 227
765-494-7273 (office)765-479-7704 (mobile)