Sustainable growth is the holy grail for any small business, and the
University of Minnesota is now aiming to help more companies reach that
goal.
The university recently developed
Small Biz, a 9-month program designed for small, established businesses that will identify and address key growth challenges.
Once
a company is selected for inclusion, it can take advantage of monthly
advisor sessions, co-working space, workshops, and interaction with peer
companies. One particularly distinctive aspect of the program is the
access to university graduate student projects, according to Jeffrey
Seltz, Manager of Business Development Services in the university's
Office for Business & Community Economic Development.
Business
owners can depend on implementation support from a "smart and ambitious
graduate student," he notes, as well as tap into the university's other
research and faculty resources. The university is in the process of
choosing its first round of eight to 10 companies (application info is
available on the Small Biz site), and kickoff is expected the first week
of September.
The program stems from an assessment done by the
Carlson School of Management, which looked at small business needs, and
specifically at what types of resources could be improved.
Although
similar programs are cropping up nationally and in the metro area,
Seltz notes that Small Biz is set apart because it's not geared toward
starting businesses and entrepreneurs, but instead toward established
companies looking to reach the next level of growth. Also, the array of
resources available from the university makes it a particularly rich,
supportive environment.
"We have access to key resources,
cutting-edge research, and a vast network," he says. "It's an intense
program, and we're looking forward to seeing it in action."
Source: Jeffrey Seltz, University of Minnesota
Writer: Elizabeth Millard