Civic Leaders to Develop Plans for Entrepreneurial Communities at Philadelphia Event

November 27, 2001

Contact:
Linda Knopp, PR Specialist
740-593-4331; lknopp@nbia.org

ATHENS, Ohio—Approximately 200 community leaders from throughout the United States will gather in Philadelphia in February to discuss ways to promote economic growth in America's inner cities through entrepreneurship and business incubation.

The National Business Incubation Association (NBIA), The Enterprise Center (TEC) of Philadelphia and Seedco will help teams of civic leaders develop step-by-step plans for encouraging entrepreneurship within their communities during The New American City: Making Entrepreneurship an Urban Priority. The event is scheduled for Feb. 10-11 at Philadelphia's Sheraton Society Hill Hotel.

"Research shows that entrepreneurship is strongly associated with economic growth," said Dinah Adkins, president and CEO of NBIA. "Many Americans dream of starting their own businesses, but most entrepreneurs find that sustaining their ventures over time can be difficult if they do not have an adequate support system. This event will show community leaders how to provide that support, so cities across the United States can benefit from inner-city business development."

While urban areas enjoy proximity to major markets and transportation centers, inner-city neighborhoods often lack connections to the resources of the greater business community. The New American City is designed to show urban leaders how business incubators-uniquely positioned to connect local entrepreneurs with business community networks-can be the agents that catalyze economic growth within these neighborhoods.

Business incubators help emerging businesses survive the risky start-up phase by providing an array of business support services, such as flexible leases and on-site business counseling. The goal of these programs is to graduate successful firms that create jobs and build wealth in their communities. Since 1980, incubator clients have created more than half a million jobs in North America. Today, there are more than 900 of these programs in the United States, up from 12 in 1980.

Developing a successful incubation program requires the commitment and cooperation of a wide range of groups, so event organizers encourage communities to recruit collaborative teams to attend the event. Team members could include representatives of community organizations, businesses, local governments, universities and school systems, churches and others interested in urban economic development. Individuals who attend without a team will be grouped with others from similar communities for discussions and team exercises.

Through sessions, presentations and facilitated discussions, urban entrepreneurship experts will help community leaders develop strategies for creating business incubation programs in their cities, including identifying a mission, raising money, recruiting clients and finding an appropriate facility. Sessions also will address topics of particular concern to urban leaders, including understanding minority entrepreneurship and building political will.

Attendees will be able to ask questions of industry leaders and to tour TEC, an urban incubator located in the former home of American Bandstand in West Philadelphia.

For more information, contact Theresa Moran, NBIA acting director of education and training, at (740) 593-4331 or tmoran@nbia.org, or visit http://www.nbia.org/conf/nac_2002/index.html. The deadline for early-bird registration is Jan. 14.

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The National Business Incubation Association advances the business incubation process to increase entrepreneurial success and individual opportunity, strengthening communities worldwide. NBIA provides thousands of professionals with the information, education, advocacy and networking resources to bring excellence to the process of assisting early-stage companies.

The Enterprise Center recruits and develops entrepreneurial talent through in-house programs and outreach activities. Recently named "Incubator of the Year" by NBIA, The Enterprise Center's goal is to provide the resources, expertise and commitment to transform a great business idea into a future Fortune 500 industry leader. The Enterprise Center serves thousands of urban residents in what was once a severely distressed community.

Seedco promotes community development by facilitating meaningful relationships between anchor institutions-such as hospitals and universities-and community-based organizations. Seedco has pioneered partnerships between 105 institutions and 90 community-based organizations in 58 cities and towns across the country. Most of Seedco's work focuses on organizational capacity building and the provision of loans and grants to facilitate development projects in the areas of housing and economic development.