The Agurban from Boomtown Institute. Summer Entrepreneurship Camp

Last week, about 40 high school students from 14 Indiana counties arrived at Purdue University to begin a week long summer academy to learn more about the world of entrepreneurship.

The Purdue Research Foundation’s Entrepreneurship Academy, which ran from July 29 through Aug. 3, was made possible through a $35,000 grant from Indiana’s Workforce Innovation in Regional Economic Development, or WIRED program. The Purdue Research Park directed the program at no cost to participants. Students from Benton, Carroll, Cass, Clinton, Fountain, Fulton, Howard, Miami, Montgomery, Tippecanoe, Tipton, Wabash, Warren and White counties took part in the academy.

"The Entrepreneurship Academy has had such a strong response that we are planning to expand it next year to include more Indiana counties," said Joseph Hornett, Purdue Research Foundation senior vice president, treasurer and chief operating officer. "All the students enrolled have an interest in math, science and technology.

"Through this program, they will have the opportunity to experience what it is like start a new business, including developing the concept of a business, creating an executive summary, and then pitching the business to judges of the competition and their peers."

The students in the program worked with the Purdue Research Foundation staff, Purdue faculty, industry leaders, business experts and high-tech entrepreneurs. Participants toured the Purdue Research Park and Discovery Park.

Projects of the Entrepreneurship Academy included:

* Devising a feasible business concept.
* Determining financial and budgeting needs.
* Identifying opportunities and challenges.
* Making the product or service competitive in today’s market.
* Developing a communications and marketing plan.
* Participating in a "networking" dinner in the Buchanan Room of Ross Ade Stadium.
* Presenting a two-minute "elevator pitch" at the conclusion of the academy.

During the "presentation to potential investors" portion of the event, seven teams composed of five students presented a five- minute "elevator pitch" that included an executive summary of their business with a PowerPoint presentation. Judging criteria included the business concept, presentation, market knowledge, competition awareness and financial plan.

Winning teams received tuition vouchers for higher education in the amounts of $500, $250 and $100.

My kind of summer camp!

The Blog Log
Visit my weblog to see where I’ve been and what I have learned along the way.

On the road again…
In addition to my travel blog I’ll list my upcoming engagements in each issue of The Agurban. Come see me when I’m in your neighborhood!

Jack’s Schedule

Upcoming Speaking Engagements:
Tuesday, August 7 – Coldwater, MI – Branch County Area Chamber of Commerce
Wednesday, August 8 – Monroe, MI – Monroe County Chamber of Commerce
Tuesday, August 28 – Springfield, MO – Missouri Governor’s Conference

Jack Schultz is the CEO of Boomtown Institute and Agracel Inc., an industrial development firm majoring in rural America, author of Boomtown USA, and speaker. Boomtown Institute serves as an economic development mentor to communities across the United States, leading communities to realize their full potential.

Visit the Boomtown Institute website at http://www.boomtowninstitute.com
Keep up with Jack as he tours the country on his blog!
To learn more about Agracel visit http://www.agracel.com.

email: [email protected]
phone: 217-342-3000
web: http://www.boomtowninstitute.com