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[IEDC] State Hosts Young Entrepreneurs Expo in Indianapolis
Start Date: 4/25/2013 All Day
End Date: 4/25/2013
Entry Description

INDIANAPOLIS (April 25, 2013) – Sixteen young entrepreneurs will take center stage today as they present their business proposals to participating Indiana communities at the state’s Young Entrepreneurs Expo at 9 a.m. at the Schwitzer Student Center at the University of Indianapolis.

“The Young Entrepreneurs Program, unique to Indiana, creates a linkage between our graduating entrepreneurship majors and minors in our universities with communities interested in helping them launch their businesses,” said Lt. Governor Sue Ellspermann. “This program helps us retain our best and brightest young adults in Indiana while growing the next generation of successful businesses for our Hoosier economy.”

The event is part of the Young Entrepreneurs Program, an initiative setup to promote business proposals of students graduating with entrepreneurship coursework from college and universities across the state. Young entrepreneurs applied to the program by submitting a business proposal, including their startup needs and preferred locations for the startup.

At today’s expo, entrepreneurs will meet personally with community leaders in a trade show-style format. Following the event, communities will have the opportunity to bid for the proposals to have the startup brought to their community. The business plans of the 16 young entrepreneurs, who will be reviewed by more than 15 communities throughout Indiana, represent industries ranging from technology and food service, to publishing and men’s apparel.

Passed in the 2011 legislative session, the Young Entrepreneurs Program is sponsored by the Indiana Small Business Development Center and the Indiana Economic Development Corporation, in conjunction with the Indiana Office of Community and Rural Affairs which assisted communities in preparing bids to help them compete with larger communities.

Communities will have approximately two weeks to consider which business(es) they wish to pursue and to develop an incentives package. The young entrepreneurs will then review their offers before deciding which community to locate their new venture. Their decisions will be announced this summer.

About the ISBDC
The Indiana Small Business Development Center is an Indiana Economic Development Corporation program funded in part through a Cooperative Agreement with the U.S. Small Business Administration. Through 10 regional centers, the ISBDC provides free and low-cost business advising and assistance to small businesses at any stage of development. For more information about the ISBDC, visit www.isbdc.org.

About IEDC
Created in 2005 to replace the former Department of Commerce, the Indiana Economic Development Corporation is governed by a 12-member board chaired by Governor Mike Pence. Victor Smith serves as the Indiana Secretary of Commerce and Eric Doden is the president of the IEDC.

The IEDC oversees programs enacted by the General Assembly including tax credits, workforce training grants and public infrastructure assistance. All tax credits are performance-based. Therefore, companies must first invest in Indiana through job creation or capital investment before incentives are paid. A company who does not meet its full projections only receives a percentage of the incentives proportional to its actual investment. For more information about IEDC, visit www.iedc.in.gov.

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Media Contact:
Katelyn Hancock (IEDC) – 317.234.2294 or kahancock@iedc.in.gov
Contact Information:
Name: Katelyn Hancock
Phone: 317-234-2294
Email: kahancock@iedc.in.gov
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Entry Type:
Press Release
Entry Category:
  • Announcements
  • IN.gov Category:
  • About Indiana
  • Business & Employment
  • Agency Name
    Economic Development Corporation, Indiana

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