Applications open today for the Young Entrepreneurs Program, an initiative that assists college aged and recently graduated entrepreneurs in making their business plans a reality in Indiana.
Indiana's world-class universities continue to graduate some of the best and brightest entrepreneurial minds in the country," said Lt. Governor Sue Ellspermann. "The Young Entrepreneurs Program provides an avenue for our aspiring entrepreneurs to take their ideas and launch them into real businesses, creating jobs and opportunities in Indiana."
Young entrepreneurs can apply to the program by submitting a business proposal to the Indiana Small Business Development Center (ISBDC) by March 22, 2013. A panel of judges will review the applications and select entrepreneurs with the top proposals to participate in a state-wide event where local and community officials will have the opportunity to offer incentives to attract the startups to their communities. These incentives may include free rent, grants, loans and utility support.
Established through the passage of legislation in 2011, the program is sponsored by the ISBDC and the Indiana Economic Development Corporation, in conjunction with the Indiana Office of Community and Rural Affairs, which will assist communities in preparing bids to help them compete with larger communities. For more information or to submit a business plan, visit www.isbdc.org/yep.
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 OCRA
The Office of Community and Rural Affairs and the Indiana Housing and Community Development Authority encourage community development efforts across the state through many programs, including Stellar Communities, CDBG, the HOME program, Indiana Main Street and more. To see some of the state's recent community development projects, please visit www.in.gov/ocra.
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.