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Current News

LaGrange County Business Accelerator Activated

Tuesday, March 01, 2016

“Venture accelerator programs have become a popular alternative to traditional business incubators in recent years and for very good reason. The three businesses in this pilot program each demonstrate the best attributes of successful accelerator participants: ingenuity, passion, hard work, and the foresight to see great opportunity,” said Steve Franks, LCEDC consultant and staffer who will facilitate the program. “Our goal is for each business to use the knowledge and insights gained during this program to move their operations to the next level.”

According to a press release from the LCEDC, the program will offer both a focused curriculum and assistance for evaluating and overcoming challenges typical for a business attempting a new venture. This includes leading entrepreneurs and business owners through strategic planning and business model development as well as prepping them with the fundamentals of pitching to investors for funding.

Two startups and one established company form the first cohort, and were selected based on their potential for fast growth and their ability to scale. According to Ryne Krock, president and CEO of the LCEDC, this program stands to create a lasting impact on the community. “In addition to increased profits for participants, we firmly believe this program will facilitate growth, investment and diversification of our local tax base.” Krock added that while his organization sought out the participants for the pilot program, they expect to open a competitive application process for businesses and entrepreneurs for future cohorts, with two more 10-week programs completed by the end of 2016.

Ryne Krock, President and CEO
LaGrange County Economic Development Corporation