The LaGrange County Economic Development Corporation launched its Business Accelerator Program for new and existing businesses in the north Indiana county.
According to a news release, the pilot program will assist high-growth potential businesses, whether existing or in the startup phase, looking to take on new products or services.
Designed to offer rapid, focused and extensive curriculum, the LaGrange County Business Accelerator Program will assist participating businesses with collectively evaluating and attacking the typical challenges faced by a company when taking on a new venture.
The accelerator will lead LaGrange County’s new entrepreneurs and business owners through the strategic planning and business model development processes, as well as prepare them with the fundamentals necessary to pitch to investors if they are seeking funding.
This pilot program will include two startup ventures as well as one well-established company looking to expand their current product offering; each was identified and recruited based on the potential for fast growth and ability to scale.
“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.”
Ryne Krock, President and CEO of the LaGrange County EDC believes the impact of this program will have a lasting impact.
“As with other programs developed and launched within the past year, the Business Accelerator Program is a chance for us to invest in the businesses and entrepreneurs who are committed to advancing our community,” Krock said in a news release.
The pilot program officially launched on Jan. 4 and is expected to run through mid-March.
Plans call for at least two more 10-week ‘cohorts’ to take place in 2016. Businesses interested in applying should contact the LaGrange County EDC or watch for future announcements on their website of Facebook.