Creativity fuels innovation.
Such is the mindset of the vast majority of entrepreneurs. Developing a strong network is a key to success.
That’s where the Northwest Arkansas Entrepreneurial Alliance steps in. The nonprofit organization looks for new ways to engage the startup community.
The latest venture is the Startup Crawl. Thirty budding business owners and entrepreneurial junkies journeyed around the Fayetteville square Wednesday evening, learning about seven local start-ups.
“We feel like our mission has been reinforced,” said Jeannette Balleza, a board member of the Northwest Arkansas Entrepreneurial Alliance. “We need people to connect, and we have a lot of inspiring stories in our own backyard.”
Board member Chance Chapman said this was the first organized Startup Crawl in Northwest Arkansas and hopes it becomes a monthly event. He plans to have crawlers to visit Dickson Street next month and travel to area towns in the future.
“The overarching idea goes back to the group’s mission - to connect rookie entrepreneurs with veteran entrepreneurs,” he said.
Northwest Arkansas Entrepreneurial Alliance is a networking group for startup enthusiasts and business professionals.
Derek Kean recently moved to Fayetteville and wanted to meet fellow startup owners. Kean is co-founder of Truckily and is one of the 15 participants in The ARK Challenge.
The challenge is a 14-week mentorship-driven accelerator program for technology-based businesses. It began Aug. 15. It was one of 20 projects selected nationwide to receive federal money to advance regional competitiveness. Balleza is director of The ARK Challenge.
Kean hails from Kansas City, Mo., and the business he is working to launch will connect customers with mobile food trucks.
“I always knew the Midwest had an entrepreneurial spirit, but it often gets overlooked for places like the Silicon Valley,” he said.
Sara Beck and her brother Will Carter are also part of The ARK Challenge. They are working on Btiques, a social commerce platform for small boutiques.
“Tonight was really about getting connected with the people who really care about what you are trying to do,” she said.
Angela Belford launched her own marketing business, The Belford Group, 13 years ago.
“I love all things entrepreneurial,” she said. “I want to be a veteran to these startups.”
Larry Brian, director of the Small Business and Technology Development Center at the University of Arkansas, said business owners need to surround themselves with the right people, especially in the early days.
“It’s a bit of ‘it takes one to know one.’ People who have been through the process know the challenges and pitfalls,” he said.
The number of technologybased business is growing, and Brian said it’s an area that is constantly changing.
“But some things don’t change. It takes a special kind of person to start a business,” he said.
Necessary traits include creativity, dedication, motivation and time management.
“The most important thing is they have to be a competitive person. They have to be willing to do whatever it takes to make their business successful,” he said.
Will Collins started his business, Archetype Productions, five years ago and it took time and patience. Reaching a point where he did not have to hold another job to supplement his income was an achievement.
Archetype Productions is a multiplatform graphic design studio.
For him the Startup Crawlwas about creating a sense of camaraderie.
“It’s nice to know you are not alone,” he said. “I love what Northwest is doing to create excitement for entrepreneurs.”
Businesses along the crawl spanned many sectors, and Chapman said they were sure to include a retail aspect to help attract more women to the event.
He said the group’s last Tech Drinks event attracted a nice crowd, but of the 50 attendees, only two were women.
Wednesday’s group was an equal mix.
Tech Drinks is a social event held at the Iceberg that pulls together entrepreneurs from all walks of life. The Iceberg is a 5,600-square-foot co-working facility in Fayetteville that the alliance opened in March.
Chapman said the $10 fee Startup Crawl participants paid will go to the alliance and be used to help fund the Iceberg.
Board members hoped to fund the Iceberg through membership fees, but Chapman said that has not worked out, so the group is looking at alternative ways to pay facility costs.
Balleza said monthly income at the Iceberg is about$1,000 while expenses are closer to $5,000.
Personal donations have helped, but the group needs the Iceberg to become selfsustaining. Balleza said it usually takes about two years for a co-working space to reach that point.
“We are looking for support to get us through the rest of this year and next year,” she said.
Winrock International has pledged to match donation made over the next few weeks.
“Now is the perfect time to contribute,” she said.
Business, Pages 59 on 09/23/2012