This post was origiannly published by the Crossroads Coalition, which can be found here.
Eastern Arkansas has everything it needs to create a business incubator system capable of creating an economic revolution, according to students from the University of Arkansas Clinton School of Public Service.
Speaking at Mid-South Community College on Thursday, April 3, the graduate students discussed their research, thoughts, and conclusions while presenting “Advancing Entrepreneurial Development through Business Incubation,” sponsored by the East Arkansas Crossroads Coalition.
“If you take nothing else away from this presentation, please let it be that this is absolutely feasible in your community,” said Dani Folks of Austin, Tex., a graduate of Texas Christian University with degrees in anthropology and social work. “You have a great set of assets in place.”
Folks, David Ford of Cleveland, Ohio, and Thato Masire of Botswana completed a comprehensive, five-state study of leading entrepreneurial development organizations and designed an innovative framework to meet the specific needs of the Arkansas Delta.
The students visited twelve existing business support organizations, interviewing experts in the field and examining key attributes, procedures, and practices. Additionally, the team conducted a series of meetings with community members and elected officials to determine the assets and needs of Crittenden County.
“We have worked very closely with this great team the last eight months, and they have done some fantastic research,” said Heather Maxwell, executive director of the Crossroads Coalition. “They took a very vague project concept and, through research, interviews and hours and hours dedicated to the project, moved us from a ‘wouldn’t this be cool if?’ idea to ‘this is how you could do it, and these are some of the best models you could employ.’”
Ford, who discussed job creation, funding, partnerships, and mentoring, said everything is in place for a successful incubator model in eastern Arkansas.
“You need an economic revolution, and you have everything you need in this region to build, sustain, and revitalize your communities,” said Ford, a U.S. Army veteran who earned a bachelor’s degree in political science at Ohio University. “From what we’ve observed, you have leaders everywhere.”
Attendees of the presentation included Dr. Glen Fenter, President of Mid-South Community College, far right. Photo by Don Threm.
Ford pointed out that the U.S. features more than 1,200 successful incubator projects.
“Incubators are a powerful tool in helping new business launch and existing firms grow,” he said. “The goal of an incubator is to get entrepreneurs with great ideas the resources needed to launch their firms.”
Masire talked about the history of business incubators and said communities throughout the U.S. are using them to support new companies and aspiring entrepreneurs.
“Business incubation is a program that provides small businesses with a nurturing environment needed to develop global focuses,” he explained. “The goal is to increase the chance that business startups can succeed.”
Upon implementation, an incubator program has the potential to create jobs, retain local talent, and provide access to entrepreneurial education.
Folks said the vision of the East Arkansas Business Incubator “is to create a community center for entrepreneurial support from the ‘crazy idea’ stage, to the launch, to the scaling up of businesses and the reinvention of businesses.
“Your incubator should be the front door for innovative ideas in your region,” Folks said. “You want your clients to know that they are never more than two steps away from the right person, entity, or organization to work with them. And everybody in the community needs to be involved in the effort.”
The Clinton School students are working under the direction of assistant professor Dr. Warigia Bowman.
“I have the privilege and pleasure to work with three outstanding students,” Bowman said. “They are very smart, hardworking, and entrepreneurial. This is a well-balanced team in a lot of different ways, and I’m excited about the work they’ve done.”
Maxwell said the interest in seeking assistance from the Clinton School came after a trip by the Delta Leadership Institute to New Orleans.
Crossroads Coalition Executive Director Heather Maxwell introduces the Clinton School of Public Service practicum team, who spent the last year researching business incubators in the South. Photo by Don Threm.
“We visited a social enterprise incubator, and what they were doing was community revitalization through social enterprise,” she explained. “It really hit home to me that what they were doing would work in our part of the world.
“They were taking a very low-income area of New Orleans, somewhat remote, and they went block by block partnering social and community needs with small business and entrepreneurship. That model could certainly work of us in east Arkansas.”
Following the students’ presentation, John Auker, Delta Cuisine, and Matt Hampton, Elevate Entrepreneurship Systems, moderated a group discussion. Auker and Hampton are both involved in incubator and entrepreneurship efforts at MSCC.