Northeastern Illinois University's Business Innovation & Growth (BIG) Center opens first physical location

News provided by

May 02, 2023, 15:46 ET

CHICAGO, May 2, 2023 /PRNewswire/ -- Northeastern Illinois University is thrilled to announce the grand opening of the first physical location of the Business Innovation & Growth (BIG) Center at the Jacob H. Carruthers Center for Inner City Studies (CCICS), 700 E. Oakwood Blvd. in Chicago.

An invitation-only ribbon-cutting ceremony and reception will take place at 6 p.m. Thursday, May 7, 2023, in Room 103. Interested members of the media should contact Jessica Mueller at [email protected] to reserve a space. Following the ceremony, entrepreneurs in the BIG Center's "Become Your Own Boss" business planning cohort will participate in "The BIG Pitch," an evening of new business plan presentations, beginning at 7 p.m. in CCICS's Donn F. Bailey Legacy Hall. The presentations are free and open to the public.

Launching a business is a risky venture, but it is less so with community support. This brand new space, located on the first floor of the historic CCICS building (formerly known as the Abraham Lincoln Center) is ready to make business dreams a reality.

"The BIG Center has a history at Northeastern of being an incubator business program and serves our diverse population of students and entrepreneurs," Northeastern President Gloria J. Gibson said. "Through the BIG Center, we get to influence not only student learning outcomes, but help guide them on a path to their future careers and help shape the future of the greater multicultural business community."

Decades of research have shown that entrepreneurs of color face severe barriers regarding the three fundamental areas critical to business success: business management education, access to financing, and access to markets. All three are addressed at the BIG Center.

With the support of a Department of Commerce and Economic Opportunity Office of Minority Economic Empowerment (OMEE) grant, funds to renovate the space were dedicated to meet the demand for BIG Center services and provide adequate facilities for the incubator. Renovations provided meeting, co-working and instructional space, as well as two offices for one-on-one coaching and technical assistance. Additionally, an Americans with Disabilities Act-compliant, energy and water-efficient all-gender restroom was reconstructed. Technology infrastructure upgrades include wireless internet access, web conferencing and a touchscreen media center for entrepreneurs working, learning and building their businesses at CCICS.

"This program has been a win-win for our students and the community," said Michael Bedell, Dean of Northeastern's College of Business and Technology (CBT). "The College of Business and Technology has had the opportunity to help entrepreneurs and family businesses in the communities we serve by providing student interns and faculty from an AACSB-accredited institution to help these entrepreneurs shape the plans for their high-growth businesses."

The BIG Center at CCICS will generate public benefits for the surrounding Bronzeville community.

"Launching the BIG Center at CCICS is very significant as it will continue to provide opportunities in a physical space to engage, learn and build the community," said Interim Director of CCICS Akua Cason. "We are excited about being a hub of support for the sustainability of entrepreneurs in the area and the various Black Businesses that are growing in Bronzeville."

Entrepreneurs and their businesses will help create jobs for residents, which can generate benefits to the local business ecosystem by fueling related businesses that support the new venture. This virtuous cycle of business creation and stimulation of related enterprises has the potential to create more jobs in communities in Chicago and beyond.

"I am thrilled to be leading the future of business development through the community-focused Business Innovation & Growth Center," said Mueller, the executive director of Adult Education, Advancement and Business Innovation at Northeastern's CBT. "It has been nothing short of amazing to build out this Center as well as lead hopeful founders on their new business ventures!"

ABOUT THE BUSINESS INNOVATION & GROWTH (BIG) CENTER

Northeastern Illinois University founded the Business Innovation & Growth (BIG) Center in the fall of 2018 to meet the needs of underserved and underrepresented populations of current and prospective entrepreneurs. Since its inception, the BIG Center has served entrepreneurs with and without business management education with a business planning curriculum, one-on-one coaching and technical assistance. The Center supports businesses from pre-launch to exit, creating a crucial pipeline from the earliest stages of business development into and out of the regional innovation ecosystem.

ABOUT NORTHEASTERN ILLINOIS UNIVERSITY

Northeastern Illinois University offers more than 40 undergraduate degree and certificate programs and more than 50 graduate degree, certificate, licensure and endorsement programs. The Main Campus is located on 67 acres in an attractive residential area on the Northwest Side of Chicago. The University has additional locations in the metropolitan area, including the Jacob H. Carruthers Center for Inner City Studies, El Centro and the University Center of Lake County.

SOURCE Northeastern Illinois University