UTC students starting this fall will see real-world, hands-ons views of the business world in a new internship effort.
"It will increase opportunities to engage with small businesses at an early stage - a critical stage," said UTC Chancellor Dr. Steven Angle about the initiative with the Tennessee Small Business Development Center here.
UTC is putting in about $60,000 for the effort that will create internships for 20 to 30 students beginning this fall semester, he said. It will join Chattanooga State Community College and the Chattanooga Area Chamber of Commerce to support the companies in Chattanooga's business incubator in North Chattanooga.
Students will take part in research projects and other activities, Angle said at a press conference Tuesday.
"We hope our best and brightest students will forge some real connections and stay in Chattanooga so we can help be a net talent importer to this region," he said.
The SBDC (Small Business Development Center) provides no cost one-to-one counseling and low-cost educational workshops to entrepreneurs. Counseling is offered in the areas of financial management, marketing, human resources, operations, and information technology. Workshop topics include starting a business, market research, writing a business plan, understanding financials, legal issues, marketing, selling, patents and copyrights, new product development, and accessing financing.
Staff Photo by Angela Lewis Foster UTC Chancellor Dr. Steven Angle and Dr. Flora Tydings, president of Chattanooga State Community College, talk about a new partnership involving the creation of internships at the Tennessee Small Business Development Center in the city.Dr. Flora Tydings, Chattanooga State Community College's president, said the new partnership with UTC will take entrepreneurship in the city to the next level.
"If I'd had this type of training and support when I owned a small business, I might not have continued into higher education," she quipped.
Charles Wood, the Chamber's vice president for economic development, said the Business Development Center already shows a long-term commitment to entrepreneurship. The incubator has graduated more than 500 companies over the last 10 years or so, he said.
"Every one of those companies has had some involvement with the SBDC," Wood said.
He said that while big companies often receive news headlines, the reality is that there are hundreds of Chattanoogans affected every day by the 70 or so companies now in the business incubator.
"The opportunities are tremendous," Wood said about the internships.
Walter Perry, the U.S. Small Business Administration's district director, said the internships will help foster the next level of millennial entrepreneurs.
"We want to work to create the next-generation of entrepreneurs," he said.
Angle said the internships will strengthen connections between UTC and the city.
"It will allow us, the university, to better meet the needs of the community," he said.
Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.