Young Entrepreneurs Program

 

Established as a result of the passage of HEA 1251 in 2011, the Young Entrepreneurs Program assists young entrepreneurs in making their business plans become a reality in Indiana. The Indiana Small Business Development Center (ISBDC), in partnership with the Office of Community and Rural Affairs (OCRA) and the Indiana Economic Development Corporation (IEDC), works with local and regional communities to provide incentives to the college-aged entrepreneurs who dream of owning their own business. These incentives can include but are not limited to: free rent, grants, loans, utility support, etc. in exchange for the Young Entrepreneur agreeing to locate their start-up business within the community.

Qualified participants must be enrolled in an educational institution located in the state of Indiana or graduated from an educational institution located in the state of Indiana within the last three years.

Selection Process

Participants will be required to submit business plans to the ISBDC by March 22, 2013 for consideration in the program. Once approved, the participants will have an opportunity to attend a pre-event workshop in their area where coaching and feedback will be given by community leaders and business professors.

Business plans should include the following:

  • 1-2 Page executive summary
  • Product description
  • Development roadmap
  • Market analysis
  • Profile of targeted customers
  • Competition / Competitors
  • Competitive advantage
  • Business model
  • Revenue model
  • Pricing
  • Sales and distribution model
  • Financial analysis
  • Capital needs
  • Anticipated cash flows
  • Job descriptions
  • Targeted workforce
  • Applicant’s contact information
  • Startup needs
  • Preferred community placement
  • Timeline for implementation

Event Details

A state-wide event will be held on April 25, 2013 on the campus the University of Indianapolis. Participants will have the opportunity to meet personally with community leaders in a trade show-style format. This means that each participant will be expected to create a display that clearly explains the vision behind their business plan and the development assistance they are seeking to make that vision a reality. Following the event, community leaders will have the opportunity to follow up with participants through social mixers and on-going communication to ask questions and discuss planning details before reporting their final selections to OCRA.  Communities will submit incentive offers to OCRA and the ISBDC, who will then communicate those offers to the Young Entrepreneurs Program participants.For information on the Young Entrepreneurs Program, contact Noelle Dunckel, Program Coordinator, at 317-232-0160 or ndunckel@isbdc.org .

The Young Entrepreneurs Program is presented by the ISBDC, in partnership with OCRA and the IEDC.

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