Gov. Beebe, AEDC Seed Innovation Hub With $575,000

Gov. Mike Beebe, Rep. Warwick Sabin (D-Little Rock) and AEDC director Grant Tennille revealed a $575,000 infrastructure grant to the Arkansas Regional Innovation Hub, which held a “wall breaking” ceremony at a downtown North Little Rock building that will house the group”s efforts.

The money will be specifically used to remodel the building to allow for an entrepreneurial program center that will feature a network of resources, programs and education opportunities to attract, develop and retain emerging Arkansas talent.

“The nature of our economy is changing, and if our state wants to compete for the best and brightest minds, we need to change the way we think and do business,” Gov. Beebe said. “The Innovation Hub attracts those who think outside the box and who will forever change the economic climate in the area. They will be our business leaders of tomorrow.”

The innovation center combines maker space, education and arts programs, and entrepreneurial advisors and resources. Its aim is to create work space for entrepreneurs to experiment and share resources in an effort to grow start-up companies.

It is modeled after New Orleans’ Idea Village, casino online which has provided direct support to more than 3,000 entrepreneurs, generated more than $100 million in annual revenue, and created more than 2,000 jobs in New Orleans since its inception in 2000.

“Our new Innovation Center builds on the best practices from successful national models to create a broad set of resources for people of all ages here in Central Arkansas,” said Rep. Sabin, executive director of the Arkansas Regional Innovation Hub. “We will provide the opportunity for everyone to discover and develop their interests and talents and unlock their unlimited potential.”

Recently, the innovation center also received a $250,000 grant from the Delta Regional Authority.

The first phase, the Argenta Innovation Center, will include four components:

• The Launch Pad is a “maker space” that will provide cutting-edge tools and technology for professionals and amateur tinkerers alike. There will be 3-D printers, laser-cutting machines, and other equipment that can be used to prototype inventions and refine products. Educational opportunities will be provided for people of all ages as well as support for local manufacturers and corporations that want to solve problems or provide additional training.
• The STEAM Lab will be operated in partnership with the EAST Initiative to offer STEM (science, technology, engineering, mathematics) education across a variety of ages and disciplines.
• The Silver Mine is a co-working space for entrepreneurs and small business owners looking for networking and enrichment activities. It will also be the home to vertical business acceleration programs that will seed and mentor promising new enterprises from Arkansas and around the world. Through events and education programs, and by providing a venue where ideas can connect with capital and other resources, the Silver Mine is expected to incubate and launch new businesses.
• The Art Connection is an after-school and summer work program for high-school students designed to develop leadership and innovation through hands-on training in the visual arts industry.