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I&E club among tools to expand development

EVANSVILLE — Call today's economic situation what you want—a downtown, meltdown or recession.

But what Terry Whipple will tell you is that it's an opportunity.

Whipple is the creator of the nationally acclaimed Inventors and Entrepreneurs Club model for rural economic development.

Whipple said 50 percent of new jobs come from expansion of existing businesses but 49 percent come from new start-up businesses. Only 1 percent of jobs come from attracting companies into an area, he said.

That's why now more than ever the area needs people who can grasp opportunities and build businesses, he said.

"I see it as so crucial to our future, especially in rural areas," Whipple said.

In Evansville, that means the creation of an inventors and entrepreneurs club, which is off and running. Its aim is to increase networking and referrals within the community and provide educational opportunities.

"We just want to create a comfortable, positive, nurturing environment for entrepreneurs and inventors to network," said Bridgit Larsen, promotional director for the chamber of commerce and member of the club's advisory committee.

The idea has been months in the making, sparked by of one of five task forces that developed the city's new economic development plan.

"We also realized as a community in order to do smart economic development for our future, we need to invest in our entrepreneurs," Larsen said.

A great example is Juneau County, where Whipple, executive director of the county's economic development, started the first inventors and entrepreneurs club.

The county's unemployment was among the highest in the state when Whipple started about seven years ago, he said.

The club he founded became so successful that 100 to 125 people showed up at every monthly meeting. Club members helped surrounding counties form their own clubs to take pressure off Juneau County's.

Now the county is at its lowest unemployment ever, Whipple said.

Along with state grants and support, Whipple has helped to repeat his model across the state and nation. Nearly 50 clubs have formed in Wisconsin, he said.

Evansville's club is free to join, will meet monthly and is led by an advisory committee. Membership isn't limited to just investors and entrepreneurs, Larsen said. Other business people are welcome, too.

The club is different from the chamber of commerce, though.

"To me, the chamber and commerce offers you the benefits of advertising, which is not available through I&E," Larsen said.

The club also does not have a Web site or other infrastructure, she said.

The clubs are a way to teach people the proper steps to explore an idea, Whipple said.

"It's amazing how many brilliant people come say to me, ‘I have this idea, but I don't know what the next step is to take,'" he said.

Inventors and entrepreneurs clubs bring people together to motivate, educate and network, he said.

People were "taken back" by attendance at the club's kick-off meeting last month. Whipple spoke to about 30 people, Larsen said.

"In a community of this size, you think you know everyone's story," she said. "It turns out there was a lot happening with people we didn't know about."

Organizers heard about needs in the city and people interesting in starting businesses, such a bicycle repair shop.

"It was a pretty big start out of the gate," Larsen said.

IF YOU GO

The Evansville Inventors and Entrepreneurs Club meets at 6:30 p.m. the second Wednesday of every month at Hagen Insurance Agency, 15 N. Madison St., Evansville.

Gary Smith from Southwest Small Business Development Corp. in Platteville is scheduled to speak about "Handling economic downturn as a small business owner" at the Wednesday, Dec. 10, meeting.

For more information, call City Administrator Dan Wietecha at (608) 882-2263.