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Innovate 24 updates commissioners on entrepreneurship programs, $155,000 in 2024 funding to startups
Summary
Innovate 24, the regional entrepreneurial ecosystem organization, reported 2024 activity including facilitation of $155,000 in funding to eight businesses and a loan portfolio of about $1 million; the group has co-located with the Small Business Development Center in Aggieville.
Darren Sole, director of economic development for the Manhattan Area Chamber of Commerce, introduced Stephanie Pierce, executive director of Innovate 24, who updated the commission on the organization’s work to support startups and small businesses.
Pierce said Innovate 24’s mission is to connect entrepreneurs to mentoring, technical assistance and funding. In 2024 Innovate 24 facilitated four funding programs and helped eight businesses secure a combined $155,000 from those programs; Pierce said those awards leveraged additional private bank loans and other capital. She also said Innovate 24’s active loan portfolio for the region totals a little over $1,000,000.
Pierce described an entrepreneurship roadmap tool to help business owners identify needed supports and said Innovate 24 and the Small Business Development Center are now co-located in Aggieville to create a hub for programming, classes and mentoring. She said Innovate 24 engaged with more than 50 startups and small businesses in 2024 and plans additional programming in 2025.
Commissioners and staff praised increased regional collaboration in the entrepreneurship ecosystem, and the commission received the update without formal action required.
