E-Community Partnership competitive round opens
NetWork Kansas is seeking additional Kansas communities to participate in its innovative Entrepreneurship (E-) Community Partnership. The 2014 round of E-Community partnership proposals will be accepted through Aug. 8.
A NetWork Kansas E-Community is a partnership that allows a town, a cluster of towns, or an entire county to raise seed money for local entrepreneurs through donations from individuals or businesses within the community. Since 2007, the E-Community Partnership has grown from six communities in 2007 to 44 in 2014. Many of these communities have a population of 10,000 residents or fewer.
These 44 NetWork Kansas E-Communities have leveraged more than $23 million dollars of capital to invest back into Kansas businesses, creating hundreds of jobs and immeasurable positive effects on the state economy while cultivating an entrepreneurial environment by identifying and developing resources to help local entrepreneurs start or grow businesses.
“It is exciting to work with local leadership teams that recognize the creation of a locally-controlled loan fund is only one aspect of a thriving entrepreneurial environment,” said Erik Pedersen, NetWork Kansas Director of Entrepreneurship (E-) Communities. “Engaging youth in entrepreneurship, and providing a process and culture where businesses can start and grow more easily - that’s when many of our E-Communities begin to realize positive, fundamental changes.”
Each E-Community benefits from an injection of capital that is raised locally through the NetWork Kansas Entrepreneurship Tax Credit Program and creates a locally controlled revolving loan fund to help small businesses. Participants can apply for up to $125,000 in tax credits, which allows them to raise approximately $150,000 in funds designated for funding entrepreneurial growth in their respective communities.
Communities chosen to become E-Communities partner with NetWork Kansas to achieve the following results: 1) Through the NetWork Kansas Entrepreneurship Tax Credit Grant, communities establish a fund for entrepreneurs and small business owners that is administered at the local level; 2) Each E-Community maps local, regional and state assets available to assist entrepreneurs and businesses; 3) The establishment of a long-term tracking accountability system to measure business and economic growth; and 4) A long-term partnership with more than 500 NetWork Kansas partners statewide that assist entrepreneurs and small businesses to provide a positive impact on the Kansas economy.
NetWork Kansas was established as a component of the Kansas Economic Growth Act of 2004 to further entrepreneurship and small business growth as a priority for economic and community development in the state of Kansas. Backed by more than 500 resource partners statewide, NetWork Kansas promotes an entrepreneurial environment by connecting entrepreneurs and small business owners with the expertise, education, and economic resources they need in order to succeed. For more information about NetWork Kansas, visit www.networkkansas.com, or call 877-521-8600.