INDIANAPOLIS — Entrepreneurship is a major contributing factor to the economy and the state of Indiana, and it’s an economic trend that organizations and businesses are looking to continue.
Since 2000, the Indiana Black Expo has hosted the Youth Entrepreneur Series, where students age 18 and under learn the fundamentals of how to turn an idea into a business.
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“We want to make sure we’re preparing and developing young people to be successful entrepreneurs of the future,” said Edward Rogers, director of youth and family programs for the Indiana Black Expo. “When we think about economic development in Indiana, we’re developing the future leaders of our community, the future business owners.”
Some kids have big dreams they want to achieve, while others are pursuing their passions.
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“I’ve always had a real interest in clothing and now I want to pursue it as an entrepreneurial venture,” said Adrianna James, a Pike High School student who is starting her own clothing brand.
Others seek the freedom and opportunities that come with being an entrepreneur, such as helping others in their community.
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“If you’re an entrepreneur, you wake up at 4 a.m. and start making money, go to bed at 12 o’clock and you’re still making money all that time,” said Eric Wisler, a Pike High School graduate with his own clothing brand and mentorship program. “You can make money, but if you set it up the right way, you can create employment opportunities for others.”
Last month, the state of Indiana announced a new growth fund in partnership with Elevate Ventures.
The fund targets Series B companies, i.e. companies with an already established customer base in competitive markets.
These companies often require millions of dollars in investment to grow, something Indiana hasn’t historically had the money to do.
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“Growth-stage funds will help companies transition from being acquirers to being acquired, and also help acquired companies recapture more of their wealth when they exit, and recycle it for the next generation of winners,” said Christopher Day, CEO of Elevate Ventures.
Indiana is just one of six states seeing an influx of tech and tech-related jobs, according to Elevate Ventures, and the company says that’s because of the environment Indiana has created.
The company says infrastructure, talent, mission-critical industries, technology, lifestyle, cost of living and regulatory environment all make Indiana a great place to start and grow a business.
The company says this will benefit the state given the ongoing interest in the entrepreneurial technology sector.
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“It’s definitely going to add more high-paying jobs to Indiana,” Day said. “It’s going to help us attract more talent. When you think about talent acquisition and talent retention, it’s definitely going to give people more options to have a great career in Indiana.”
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According to Elevate Ventures, 64% of new jobs are created by companies less than five years old.
The Indiana Black Expo has resources for entrepreneurs, click here for more information.
