ELKHART — The South Bend-Elkhart region is pushing to develop entrepreneurs to grow both the economy and the workforce.
Through a collaboration between Elevate Ventures, an organization dedicated to supporting entrepreneurs, and the Regional Development Authority, civic, business and university representatives have raised $1 million for an initiative that will include advisory services and funding for entrepreneurs looking to start a business.
The Indiana Economic Development Corp. has chipped in $1.5 million, said Regina Emberton, president of Michiana Partnership, which promotes regional economic development. The idea is to create a successful ecosystem that will support an entrepreneur's idea and allow it to grow.
"There are a lot of different attributes of a successful ecosystem," Emberton said. "It incorporates things like mentors, talent, identifying certain sectors where entrepreneurship is thriving and how to support getting them together. Events and programming to keep things fresh and exciting. Physical spaces, like coworking spaces, support services and investment. A lot of it comes down to the financing part."
A board made up of 19 regional leaders has been appointed by the Regional Development Authority to manage the partnership and work with the entrepreneurial community. The Regional Development Authority is the body formed to help oversee allocation of funds coming from the state as part of the Indiana Regional Cities initiative, the state proposal meant to spur growth via development projects.