What is it? Entrepreneurship education is designed to better equip participants with the awareness, skills and resources necessary to start a business. Programs may target youth or adults, in formal or informal settings. Community-based informational sessions for business owners, intensive multi-session training programs for new entrepreneurs, and school-based program for would-be youth entrepreneurs all contribute to a stronger entrepreneurial climate or ecosystem for a place. By having a better awareness of available resources, exposure to business peer and mentor networks, a nd increased knowledge of business success strategies, community-based entrepreneurs enhance their chances for business survival and growth.
How has it been done? Bizdom is a nonprofit that fosters entrepreneurship in Detroit and Cleveland. The organization focuses on developing new tech-based businesses in the urban cores of these cities. The Bizdom program consists of three months of intensive training, culminating in business start-up. During the training period, participants learn about the challenges of business ownership and gain techniques that can help lead to success. The program provides mentors for the new entrepreneurs, and helps them build the connections necessary to thrive in the business community. The program launches approximately 18 businesses per year in each city. Bizdom also helps with seed funding for the new enterprises. (Source: Bizdom)