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Inside Business: Hatching business plans at Anne Arundel Community College

Monday, April 16, 2012   (0 Comments)
Posted by: Kristina Moy
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By Shantee Woodards,

Anne Arundel Community College is in the baking business.

And housecleaning business. And just about any other business plan students develop.

This is the seventh year for the college’s Student Business Incubator, which allows student entrepreneurs to use resources within AACC’s Entrepreneurial Studies Institute. Stephen Berry, an instructional specialist in the program, talked about how it aids student businesses.

Q: How does the Student Business Incubator program work?

A: What happens is students submit a business plan, and we help them write it through coursework. We provide coaches both from our faculty and from business people in the community (bankers, attorneys, business executives and entrepreneurs) who come in and help them write it.

It goes through a judging process. They get feedback and they’re scored and that again happens from outside business people ... (who) give them feedback and grade them. Three individual plans are chosen for the finals and a team plan is chosen.

They have to present their plan to another panel of judges that comes from outside people (who are) experts in the field. They score them, and then have a winner. The winner gets a cash prize donated (from our benefactors).

They get an office in our incubator office. We provide them with a desk, a phone and a computer. ... And they get all that for free. Those funds are also paid for by outside donations.

(The students) stay for two years. And while they’re here, they are still taking classes. They remain a student here. We do have scholarships available to people who want to run a business.

Read more about entrepreneurship and small business at AACC!

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