Enterprise Academy, cohort 12
The future of entrepreneurship within the Mille Lacs Tribal Economy is bright. The Tribal Economy Business Incubator (TEBI), through Mille Lacs Corporate Ventures (MLCV), has paved the way for numerous business ventures — inspiring dreams and advancing skills.
The creation of the TEBI program came from a deep analysis of the region’s economic and communal needs. Beginning in 2020, MLCV partnered with Northspan to connect with key stakeholders and community members within the Mille Lacs Tribal Economy through surveys and focus groups. In addition, a full review of the economics and demographics of the local economy was completed. The feedback shared matched MLCV’s internal goals of creating a space where diverse populations could come together to contribute ideas and grow towards shared goals.
MLCV meeting with the Neighborhood Development Center LTR: Mike Temali, Beth Gruber, and Mike Goze
TEBI is likened to the Entrepreneur Development Model pioneered by the Neighborhood Development Center and its Build from Within Alliance, which provides training, lending, and one-one-one advising services to start and grow vital small businesses. Similarly, the TEBI structure has four pillars that propel its participants toward success — from kickstarting the enterprising mindset to developing business plans from ideation.
Here's a deeper look at those Pillars:
• Pillar 1 is training. In partnership with the Initiative Foundation and its partners, training is offered through the Enterprise Academy program to develop skills and encourage growth in starting and running an organization. Aspiring entrepreneurs learn from experts in the field as they create their individual business plans. Classes run once per week for twelve weeks.
• Pillar 2 is technical assistance. Upon completion of the Enterprise Academy, each entrepreneur will receive specialized technical assistance through customized advising to keep their business goals in action and carry through to completion. Coverage of recordkeeping, accounting, marketing, and branding, web development, social media marketing, and legal aspects of business will be offered. These services are available through partnerships with local Small Business Development Centers (SBDC) and other experts.
• Pillar 3 is access to financing. The Enterprise Academy is supported by a lending program facilitated by the Initiative Foundation that provides access to credit for business owners who may not be able to access traditional sources of capital, including culturally tailored lending. Direct loans are possible in amounts up to $50,000 for successful graduates. Additional lending opportunities are available with the Entrepreneur Fund and local SBDCs.
• Pillar 4 is access to low-cost physical space for entrepreneurs to launch or expand their businesses.
Onamia, MN incubator site
In June of 2022, The U.S. Department of Commerce awarded a 3.1-million-dollar grant to the Mille Lacs Band of Ojibwe to support the TEBI effort. MLCV will use the money to help construct business incubators in Hinckley and Onamia, rehabilitating two existing commercial businesses. This will give a local space for graduates of the Enterprise Academy and other entrepreneurs in the Mille Lacs Tribal Economy to build their businesses, allowing their plans to be implemented.
Uniquely, this program is open to both Tribal and non-Tribal individuals. The vision is to see an array of businesses come to life — and following with it, an increase in job opportunities and a more diverse community and economy. The result is an overall boost in well-being. Perhaps Dustin Goslin, Vice President of Business and Economic Development, says it best, “We want to join people together under the common goal of building a vibrant tribal economy. We think this is a good recipe to build many different types of well-being for everyone.”
Enterprise Academy, cohort 10
With four Enterprise Academy cohorts already completed, and another underway in September of 2022, it’s no surprise that numerous graduates have already flourished. Entrepreneurs have completed business plans in various trades, including an Ojibwe medical tea wholesaler, a commercial and residential painting contractor, media services, and more. It is with opportunities like these that we see ourselves and our neighbors grow.
We encourage you to take a moment and learn more about the Neighborhood Development Center and the Enterprise Academy.
This article was written by Hannah Torkelson, MLCV’s Brand Communication Specialist. Hannah is a storyteller and is responsible for capturing great moments within MLCV’s portfolio.