11 businesses launched as a result of West Virginia University’s work with young entrepreneurs this past school year.
Of the 66 students who utilized West Virginia University’s small business development program, LaunchLab, in 2015/16 or entered the university’s annual Business Plan Competition, 11 (17 percent) have successfully launched their own businesses.
And at least 5 of the 11 companies created via the LaunchLab were retained in West Virginia.
Created in 2014, West Virginia University’s LaunchLab encourages students to consider their entrepreneurial aspirations. The LaunchLab functions as a one-stop-shop, where students can access a myriad of resources necessary to take an idea to market.
Students work with experts in the LaunchLab to develop detailed business plans, create logos and design schemes, preform trademark searches, and if relevant, apply for patents.
37 students brought their inventions to life in the university’s MakerLab, where aspiring entrepreneurs generate prototypes of their products.
From July 2015 through June 2016, the LaunchLab served 56 students in the Lab directly, 66 students consulted in the LaunchLab and entered the annual Business Plan Competition, and 37 students brought their inventions to life in the university’s MakerLab, where aspiring entrepreneurs generate prototypes of their products.
In the MakerLab, students have access to 3D printers, CNC machines, and an array of other technologies.
This year, 11 businesses have launched as a result of the LaunchLab’s work with young entrepreneurs. Those businesses include: Creative Health, Breaking Ground Sports, Button University, Planet Density Foods, Adaptix Design, Sweet Pea Leather, Swing-N-Sync, Mnergy, Productive Labs, Reactive Restraint Technologies, and Byrds and Bees Honey.
The LaunchLab partners with the University’s College of Law, the Small Business Development Center, and the University’s Library system to host a robust hub of resources for young entrepreneurs.
The College of Law and Library system provide free technical services for initial patent and trademark work, as well as, market research support. While the Small Business Development Center partnership allows for the two entities to share business coaches.
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