8/16/2023 0 Comments Venture logistics indiana![]() The first phase of Enterprise Corps paired Kelley School faculty with small businesses for regular coaching and mentoring over several months. They had a lot of questions and the IU Kelley School of Business really wrapped around our program to extend our ability to help business owners navigate a confusing time,” said Stacia Murphy, senior vice president of enterprise development at Indy Chamber. “The pandemic was such an important time particularly for small business owners. The program began in 2020 as a collaboration with the Indy Chamber and its Business Ownership Initiative as COVID began impacting society and the economy, providing rapid response efforts to support the continuity and survival of vulnerable small companies and business enterprises in central Indiana. As the program’s required capstone project, students are tasked with solving a real business challenge for real companies. Similarly, students in the school’s Evening MBA Program in Indianapolis will be paired on May 23 with small businesses as consultants. When Kelley Direct Online MBA students come to Bloomington May 19 to 23 for their “Kelley on Campus” residential component, the Mid-States Minority Supplier Development Council will be the client for a live case competition at the heart of the week’s agenda. “Central to those efforts is building an ecosystem that helps minority-owned businesses.” “We are showcasing how the Kelley School of Business and Indiana University can serve the state as engines for economic development,” Powell said. “We’re building an infrastructure so that the Kelley School can help minority-owned business grow,” said Phil Powell, who initially led the effort in central Indiana as Kelley’s associate dean of academic programs in Indianapolis and is now taking it statewide as academic director of the Indiana Business Research Center. Initially launched to make Indianapolis a better place for small business success, Kelley faculty involved in the project believe their long-term business acceleration model has come into clearer focus, providing “business education for businesses” on a broader scale. “It elevates our whole mission to a higher level,” Knight added. “They’ve offered tremendous resources in terms of academics and global brand recognition and outstanding professors who are willing to be a part of this group and take time to teach a key core curriculum. “IU Kelley is leading the charge with us from an educational perspective,” said James Knight, program manager of Mid-States’ Accelerate 100+ program, which worked with more than 100 central Indiana companies last year. Kelley has joined forces with the Indy Chamber, Indy Black Chamber and Mid-States Minority Supplier Development Council through the Enterprise Corps to make an impact.įrom left: Sonal Sheth Zawahri, executive certificate program participant Phil Powell, academic director of the Indiana Business Research Center at the IU Kelley School of Business Daryle Johnson, CEO and president of Mid-States Minority Supplier Development Council and James Knight, program manager of Accelerate 100+. The pool of resources and mentoring and coaching for diverse businesses is smaller, so they’re showing up less prepared,” he added.Įnter Enterprise Corps, a collaboration between the Indiana University Kelley School of Business and other partners to work with historically underserved and small businesses to overcome the challenge.Įstablished during the pandemic, it is poised for expansion and today is helping diverse-led businesses better pursue venture funding and thrive. “No one ever really does it by themselves, in anything. ![]() “There are probably some legitimate shortcomings in the way a group that isn’t traditionally leveraging that kind of funding shows up to the party with no mentoring, no coaching. “If it’s not because we don’t have good ideas, what could it possibly be that steers that much capital away?” asked Daryle Johnson, CEO and president of the Mid-States Minority Supplier Development Council. Red-lining - a form of racial discrimination based on where people live and work - also remains another hurdle for many diverse-led firms. Participants work toward an Executive Certificate in Business Strategy during the Enterprise Corps program. Of that total amount, just 1.2 percent went to Black-, Hispanic-, Asian- and Native American-founded companies. ![]() INDIANAPOLIS - During the first half of last year, $140 billion was spent on venture funding to support new and emerging entrepreneurial firms across the United States.
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