Entrepreneurial Development in Texas
For the past several years, Momentum Texas, a Dallas-based economic development entity, has been involved in an effort to encourage entrepreneurship in five Texas cities: Abilene, Corpus Christi, El Paso, Lubbock, and Tyler.
The Texas Entrepreneurship Initiative (TEI) sought to work with community leaders in each city to assist in the creation of more systematic network for local entrepreneurs. TEI’s preliminary phase has just been completed, with each of the five cities undertaking a local assessment of existing support tools, and receiving training in how best to assist local entrepreneurs. All of the communities are now in the process of implementing various TEI-related recommendations. A recent report on the TEI detailed many of these innovative local practices, such as Tyler’s business incubation program, networking programs led by the El Paso Hispanic Chamber of Commerce, and Abilene Christian University’s Springboard Challenge business plan competition open to students from six different colleges in the Abilene area.