Designing Winning Community Collaborations
Columbus City Council and The Ohio State University
Center for Innovation and Entrepreneurship partner in small business pilot program
[COLUMBUS,
OH] Columbus City Council has approved the City of Columbus
Entrepreneurship Business Case Program, a joint partnership between City
Council and The Ohio State University Center for Innovation and
Entrepreneurship. The pilot program is designed to help small business owners,
non-profit organizations and aspiring entrepreneurs create, capture and deliver
value to their communities.
On Thursday, October 27, at 11:30am, City Council will
join members of The Ohio State University Center for Innovation and
Entrepreneurship for the initial work session and kick-off event at Rebuilding
Together Central Ohio, 2771 E. 4th Ave.
Rebuilding Together Central Ohio, a non-profit organization and Watt One
Electrical Systems, LLC are the two small businesses selected for the pilot.
The goal of the program is to provide small businesses
with access to advanced, in-depth consulting and analytical services that may
otherwise be out of reach. Additionally, undergraduate and graduate students at
The Ohio State University will have the opportunity to gain consulting
experience while giving back to the community.
“Fortune 500 companies and
venture capitalists conduct these types of in-depth market analysis as a
blueprint on how to structure the enterprise,” said Council President Zach
Klein. “Through this pilot project, we are bringing these types of resources to
small businesses in our community.”
City Council’s $20,000 investment will provide research
services during the 2016-2017 academic year conducted by students who will
assess and evaluate business conditions for aspiring entrepreneurs and business
owners Columbus.
City Council
wants Columbus to become a hub for entrepreneurs and is spearheading this
program as part of a series of innovative programs focused on small business
development, housing and neighborhood revitalization. City Council has spent
the past year evaluating community feedback to assist in creating dynamic
partnerships to help small businesses and non-profits soar.
The program will be overseen by The Ohio State
University Center for Innovation and Entrepreneurship and Fisher College of
Business faculty members.
During the fall, the project will focus on the
evaluation of two existing community-based companies’ current business assets,
including their structure, management, cash flow, strategy and execution plan. During
the spring, the project will focus on the execution, funding and rollout of the
business plan. Company leadership and student teams also will work with the City
to explore funding options.
“The goal of the program is to increase the viability
of community-based businesses while establishing a culture of entrepreneurial
activities and support in the community, the City of Columbus and the State of
Ohio,” said Paul Reeder, executive director of The Ohio State University Center
for Innovation and Entrepreneurship.
With the support of a rigorous program of outreach and
ongoing support, local businesses will be given a path toward sustainable
growth and achievement.
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For More Information:
Joe Arnold
The Ohio State University Fisher College of Business
Associate Director of Communications
614-292-3380
[email protected]
Lee Cole
Columbus City Council
Director of Communications
614-645-5530
[email protected]