The Indiana Business Growth NetworkThe Indiana Business Growth NetworkNational Economic Gardening Conference

Winter Park, FL

May 19, 2011

Scott HutchesonPurdue Center for Regional Development

Catalyze Research-Based Economic Development & Entrepreneurship

Catalyze Research-Based Economic Development & Entrepreneurship

• 75,000 students statewide• Research I University• Top-Ranked Programs in

Engineering, Business, & Agriculture

• Four University Research Parks

• Founded in 2005• Organized within the Purdue Office of Engagement• Works in Areas Like:

– Innovation & Talent-Based Economic Development– Community-Support Systems for Entrepreneurship– Creative Use of GIS and Data Tools for Regional

Development

• Speaking, workshops, civic forums

Our Model: Asset-Focused, Regionally-Organized, & Our Model: Asset-Focused, Regionally-Organized, & Network-Based Network-Based

Our Early Learning Lab: Our Early Learning Lab: North Central IndianaNorth Central Indiana

• 14 counties, 15 cities, 5,577 square miles• Two population centers

– Lafayette/West Lafayette – 88,362– Kokomo – 46,074

• Most of the region is rural

Our PartnersOur Partners

• Federal: DOL, EDA, SBA, NIST• Philanthropy: Kauffman, Edward Lowe, Purdue Research

Foundation, Community Foundations• State: Indiana Economic Development Corporation, Indiana

Small Business Development Center, Indiana Department of Workforce Development

• Higher Ed: Purdue, IU Kokomo, Ivy Tech Community College• Local & Regional: Extension, LEDOs, SBDCs, K-12,

Incubators/Tech Parks, Workforce Boards

Our Project PortfolioOur Project Portfolio

• Entrepreneurship Peer Networks• Energizing Entrepreneurship• Companies to Watch• Eureka Winning Ways• Zoning for Home-Based Businesses• Business Plan Competitions• STEM Entrepreneurship Camp• K-12 Teacher Training• Skunkworks• Economic Gardening• Entrepreneurship Certificate Program• Technology Showcases• Angel Network Events

ImpactImpact

• 227 K-12 teachers trained to teach entrepreneurship

• 1,536 students (future entrepreneurs) enrolled in entrepreneurship programs

• 1,851 existing and emerging adult entrepreneurs trained

• 654 new products, services, and top-line growth ideas created

• 102 business plans developed

• 10 new start-up business launched

• 353 jobs created or retained

• $3.5 million in industry cost savings realized

• $1.6 million in industry sales growth

• $4 million in industry sales retained

80% of these initiatives have been sustained beyond the initial investment

Indiana Business Growth NetworkIndiana Business Growth Network

• The Indiana Business Growth Network (IBGN), managed by the Purdue Center for Regional Development, helps leaders of second-stage companies grow their businesses and assists civic leaders make their communities great places to start and grow businesses.

IBGN (Present & Future) Support ServicesIBGN (Present & Future) Support Services

• Serve as liaison to the NSRT and ELF

• Convene local/regional shareholders to consider and plan for implementation

• Make presentations to LEDO boards, local industry groups, and other groups

• Provide listings of Second-Stage Companies

• Administer the billing and invoicing function

• Conduct 6-month, 12-month, and 18-month follow-up impact surveys

• Produce video testimonials of participating companies

• Accompany LEDOs on “sales calls” to potential participating companies.

• Provide customizable marketing materials

• Work with state and federal partners to help garner support of the IBGN program

For More InformationFor More Information

Scott HutchesonPurdue Extension & Purdue Center for Regional Development

Burton D. Morgan Center for Entrepreneurship1207 W. State Street, Room 227

765-494-7273 (office)765-479-7704 (mobile)

hutcheson@purdue.edu