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Rural Entrepreneurship - Pamela Bishop

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This presentation was part of the Growing Entrepreneurial Communities Summit, a practitioner-focused summit designed to help economic development and small business practitioners effectively create economic growth through entrepreneurship in local communities. The 2018 Summit, subtitled Entrepreneurship on the Edges, focused on providing information and practitioner insight in how to effectively develop disadvantaged urban and rural communities using entrepreneurship-led development strategies.

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Rural Entrepreneurship - Pamela Bishop

  1. 1. Col l abor at i ng f or Regi onal Vi t al i t y Southern Minnesota Initiative Foundation Pam Bishop Vice President Economic Development
  2. 2. Col l abor at i ng f or Regi onal Vi t al i t y Vision & Mission VISION FOR THE REGION Southern Minnesota will be a prosperous and growing region with vibrant communities, innovative and successful economies, and engaged and valued citizens. MISSION Southern Minnesota Initiative Foundation is a regional development and philanthropic organization that fosters economic and community vitality in 20 counties of southern Minnesota through a culture of collaboration and partnership.
  3. 3. Col l abor at i ng f or Regi onal Vi t al i t y Catalyst for Economic Growth • Invested over $106 million in region since 1986 – $46.2 million – programming – $29.7 million – loans – $30.5 million – grants • Leverage $10 for every $1 in local contributions • Regional endowment fund exceeds $35 million • Awards about $5 million annually • Acts as regional collaborator
  4. 4. Col l abor at i ng f or Regi onal Vi t al i t y Focus Areas • Early Childhood Development – Social Emotional Readiness – School Readiness Support • Economic Development – Financial Support – Business Expertise • Community Development – Community & Designated Funds – Farmland Retention – Regional Work/Connections
  5. 5. Col l abor at i ng f or Regi onal Vi t al i t y Our 20-County Region
  6. 6. Col l abor at i ng f or Regi onal Vi t al i t y Our 20-County Region ISOLATION
  7. 7. Col l abor at i ng f or Regi onal Vi t al i t y Incubators The Park (Waseca) ALEDA (Albert Lea) Start Up Factory (Austin) Makerspace (Spring Grove) Business Incubator (Owatonna) BioAccelerator & Collidor (Rochester) IGNITE (Red Wing) SPUR (Northfield) MSU Center for Innovation (Mankato) Commercial Kitchens (St. James)
  8. 8. Col l abor at i ng f or Regi onal Vi t al i t y Equity FundsSouthern Minnesota Initiative Foundation Southeast Minnesota Equity Fund Gopher Angels + Granite Equity Golden Triangle
  9. 9. Col l abor at i ng f or Regi onal Vi t al i t y FEAST Smart Start Initiative
  10. 10. Col l abor at i ng f or Regi onal Vi t al i t y Contact TIM PENNY President & CEO Southern Minnesota Initiative Foundation 525 Florence Ave, Owatonna, MN 55060 507-455-3215 l timp@smifoundation.org www.smifoundation.org @smifound @tim_penny #soMNlove

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