New program to offer free space to college startups
A new program will provide a year of free space in Worcester to entrepreneurial college graduates seeking to open their own businesses in the city.
“We are leveraging on the asset of having 30,000 college students in the area,” Worcester Regional Chamber of Commerce President Tim Murray said during an announcement Monday at the chamber-sponsored Central Massachusetts Business Expo at the DCU Center.
The Startup Worcester program will also give 12 to 15 entrepreneurial college graduates mentorship and workshops. The space will be provided by Running Start, which houses startups, service-based companies and freelancers in 5,000 square feet of space at 95 Prescott St., adjacent to Gateway Park.
“Worcester is the prime location for an entrepreneur now that they have access to workspace, capital and other resources. It is becoming an ideal spot for them,” said Ryan Leary, co-founder of Running Start.
Applications will be accepted in October from seniors and recent graduates from Worcester colleges and universities, Murray said. The business proposals will be reviewed by chamber members and representatives from the college community. The program will begin in May.
“Creating a place to incubate and grow their own ideas is a key piece of how (recent graduates) enter the workforce and how they become a viable part of the economy,” said Timothy McGourthy, executive director of the Worcester Regional Research Bureau. “Jobs are where to begin when it comes to cultivating not only the college economy but the larger Worcester economy and demographic.”
The program bridges the gap between on-campus entrepreneurial programs and post-graduation, said Becker President Robert Johnson, who was also on-hand for the announcement.
“This type of initiative really aligns very well with what is going on at a lot of the institutions,” he said. “It creates an environment where we are training young people to become entrepreneurs.”
The program will cost an estimated $15,000, with Commerce Bank already stepping up as a sponsor, said Murray. Additional sponsors are being sought.
The chamber will work with college career service and alumni affairs offices to inform students and recent graduates.
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