The University of Texas at Austin has teamed up with the Central Texas Angels Network – a nonprofit investment organization – to form Texas Venture Labs, which hopes to connect entrepreneurs with investors and students, according to Community Impact Newspaper.
The program will accept business idea suggestions from a group of selected entrepreneurs interested in forming a company. The paper reports that from there, students will create a business plan, research the market and complete other services that would otherwise cost the potential small business owners significant time and money.
Students earn three credits for the class, and can also take it a second time to gain exposure to a completely different business idea.
“We want to fill that void and help the entrepreneur, investor and student get what they want,” Randall Crowder, executive director for Central Texas Angels Network told the paper. “It’s like an internship program on steroids.”
The city is well-positioned for continued growth over the next several years. Kiplinger’s Personal Finance magazine recently named Austin its Best City for the Next Decade due to its economic stability, small business environment, innovation and quality of life.
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