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Indiana Business Growth Network


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This is a presentation I am giving at the National Economic Gardening Conference in Winter Park, FL.

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Indiana Business Growth Network

  1. 1. The Indiana Business Growth Network National Economic Gardening Conference Winter Park, FL May 19, 2011 Scott Hutcheson Purdue Center for Regional Development
  2. 2. • 75,000 students statewide• Research I University• Top-Ranked Programs in Engineering, Business, & Agriculture• Four University Research ParksCatalyze Research-BasedEconomic Development &Entrepreneurship
  3. 3. • 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
  4. 4. Our Model: Asset-Focused, Regionally-Organized, & Network-Based
  5. 5. Our Early Learning Lab: North 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
  6. 6. Our 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
  7. 7. Our 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
  8. 8. Impact • 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 retained80% of these initiatives have been sustained beyond the initial investment
  9. 9. Indiana 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.
  10. 10. IBGN (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
  11. 11. For More Information Scott HutchesonPurdue Extension & Purdue Center for Regional Development Burton D. Morgan Center for Entrepreneurship 1207 W. State Street, Room 227 765-494-7273 (office) 765-479-7704 (mobile)