SOURCE River West Evaluation Report 2019

Abstract

The SOURCE River West Entrepreneurship Center was created in 2016 to provide a place where area businesses can be supported and a space to host businesses that capitalize on neighborhood assets, including the proximity to a variety of anchor developments and institutions Indianapolis. Through training, mentoring, coaching, workshops, and additional support, the center promotes the launch of entrepreneurial ventures and existing start-up businesses that are expected to provide sustainable wages for the owner, new jobs, and ultimately populate new and rehabbed retail and commercial spaces in the Near West community. Since its inception, SOURCE has provided service to more than 400 business owners and nascent entrepreneurs in Indianapolis. This evaluation uses a mixed research design to analyze the potential of SOURCE as a catalyst to achieve economic development in the Near West. Results show positive gains in skill-building and business creation. Through Kauffman's post-assessments, spotlights, and surveys to clients, it was learned how much clients appreciate their learning with SOURCE and the high potential of SOURCE River West to drive small business creation. It was found that Near West residents, as well as local achievements in terms of business start-ups, are under-represented. It was also found that most of the barriers to entrepreneurship identified in 2016 persist. It is recommended that in order to create a growing and sustainable impact in the Near West, SOURCE further engages the community in the activities of the Center; promotes business collaboration and networking; proactively follows-up with clients; and expands its network of support in and outside the neighborhood to provide more opportunities for success to local, new ventures.