The expo is buzzing. These 18 entrepreneurs are displaying their business — or their business plan — for the large crowd filtering through the Koch Student Center of the Ivy Tech Evansville Campus.
School Department Chair Chase Coslett said this expo is like a capstone project for these students after 32 weeks of work.
“From a tangible standpoint, they've come out of this with a business plan, some of them we've already launched, and they've got their business cards, they've got their pamphlets and their flyers, and you can just see how proud they are of themselves as well.”
Business concepts include a trade skills makerspace, sustainable clothing and Colombian catering.
This first class of 25 have earned a certificate, which can count toward an associate’s degree. Coslett says there will be another class over the summer to earn a technical certificate.
While business ideas are varied, Travis Sylvester is the only one focusing on trades.
“It's a workspace or a co-worker or makerspace for trades,” he said. “For people to be able to utilize automotive equipment for homework like DIY repairs, woodworking, metalworking, and I believe it would allow people to do side hustles and learn and you utilize trades.”
Next, he said he needs a market analysis and might seek non-profit status. He’s calling it “Foundation on Utilizing Creative Individual Trades.”
Amanda Beasley wants to take your old clothing and repurpose it into her own designs — a concept she’s seen succeed in larger Indiana cities.
“But it might take a little bit longer to come to Evansville,” she said. “But I'm hoping I'll be in the front of the line.”
Her business is called “Wonderfly.”
Students like Quinn Matthew want to go into retail, but he has concerns with banking and the current clothing reselling market.
“That's why I just want to invest in myself first, and always have this dream in the back of my pocket.” He said he’ll next attend interior design school at Indiana University, so he can eventually design his own retail space.
He came to the event with some examples of types of clothing he’d like to sell — such as Nike sneakers.
Coslett said through the program, they try to instill an ability for students to “pivot” when an idea doesn’t work — such as Matthew reselling clothing items.
Other challenges to starting a business right now include higher interest rates. Coslett said these budding business owners also need to understand their market and their customers. “And that's just, that's really so crucial. You've got to be solving that problem that is not currently being met.”
Hopefully, this is what students learned over 32 weeks and three consecutive classes.
Coslett said they’re always retooling their program. One thing they’ll change is the balance of workshop versus lecture time.
They’re increasing workshop time for students, and decreasing lecture time from accomplished entrepreneurs. While their support and information were helpful, Coslett said the students were asking for more time to work on their business.
The second cohort of students begins in the fall and a third in spring 2024. “And then by this time next year, we should have a program of 50 individuals,” he said.
This program which will eventually reach all of Ivy Tech’s 19 locations. Indianapolis, Bloomington, South Bend and Fort Wayne were first in 2021.
One of the most advanced businesses is Sabor Colombia, a Colombian catering company which will soon be advancing to a food truck. Proprietor Louis Tascon wants to share Colombian cooking with the community.
Tascon said they’re still small, but the eventual goal is a restaurant. He specializes in Colombian chicken and beef empanadas with homemade sauce.