Entrepreneurship Center Manager Entrepreneurship Center
Why Entrepreneurs MatterRepresent 99.7 percent of all employer firms.Employ half of all private sector employees.Pay 44 percent of total U.S. private payroll.Generated 65 percent of net new jobs over the past17 years.Create more than half of the nonfarm private GDP.
Why Entrepreneurs MatterHire 43 percent of high tech workers (scientists, engineers, computer programmers, andothers).Made up 97.5 percent of all identified exporters andproduced 31 percent of export value in FY 2008.Produce 13 times more patents per employee thanlarge patenting firms.
Mission Statement To educate, engage and empower entrepreneurs in west central Illinois.
In a nutshell... “The greatest success in stimulating entrepreneurship is likely in communities with: a climate and a system ofeducation and technical assistance that addresses the needs of entrepreneurs at all levels.” -- Entrepreneurship and Local Economic Development (Walzer, 2007)
Entrepreneurial Ecosystem Small Businesses Entrepreneurial Startups
History• Center operated from 2004 until June 15, 2010• Funding – Department of Commerce and Economic Opportunity (DCEO) Funding – Community Development Assistance Program (CDAP) Grant – Over 700 clients served (approx. ¼ minority)• Center re-established in January 2011
Counseling Channels• Face-to-Face• Telephone• Online(Email or VideoConferencing)
Core Services• Feasibility Analysis• Business Plans• Retail Site Selection• Marketing• Industry Analysis• Funding Assistance• Website / Social Media• Workshops
Market Analysis• Allows for Better: – Market Analysis – Location Decisions• Example: Map of avg. ann. per person spending on food/beverages in Galesburg.
Public FundingWithin Galesburg: – Business Innovation Grant (BIG) – Revolving Loan Fund (RLF) – Downtown Façade Redevelopment – Worker Training – Many MoreWithin the Region: – Funds available through the EDA grant
Operational Philosophy• “Everyone has at least one “$1 Million Idea during their lifetime – but few act on it.”• Clients spectrum we can work with… – High-Tech Startups Restaurants• Types of entrepreneurs we see… – Sole Proprietors – Partnerships and LLCs – Startup Companies
Operational Philosophy (continued)• Each client is given individualized attention and quality assistance – Not a cookie-cutter, one-size-fits-all approach• Clients are followed-up on and developed• At this time, all of our services are free• Strict confidentiality is observed• We particularly encourage minority and women-owned businesses
Inventors“Rail Joint” Developed by Permil Nelson “Vegetable Peeler” Developed by Dennis “Pants Hanger” Developed by Stuart of Galesburg, Issued 1972 Vanosdall of Galesburg, Issued 1984 Battles of Galesburg, Issued 1971
Youth Entrepreneurship Counselor’s Academy on Entrepreneurship March 22, 2012 4-H SPIN Club on Entrepreneurship April 19th – June 21st BTC Entrepreneurial Scholarship Deadline: April 30, 2012 Meeting with Knox, Monmouth and Sandburg Regarding Entre. February 21, 2012