MONROE — The Greene County Development Corporation (GCDC) in Greene County is partnering with UW-Madison Extension in a new initiative to engage local entrepreneurs and strengthen community connections. As part of a grant program from Compeer Financial, Extension provides coaching and mentoring to local groups to foster sustainable entrepreneurship. The groups selected for this program have recently moved on to implementing best practices and steps for economic growth.
Extension’s Rural Entrepreneurial Venture (REV) is an entrepreneurial development program designed to develop small town economies through a targeted business approach. Wisconsin REV is developed in partnership with Community and Economy Development Associates (CEDA), Compeer Financial, Southern Minnesota Initiative Foundation (SMIF), and e2 Entrepreneurial Ecosystems. This effort is funded by Compeer Financial. Launched this year, Wisconsin REV provides coaching, resources and connections throughout the visioning and execution process as each community explores what economic development means for their community. For more information, visit https://go.wisc.edu/wirev.
Communities across the country are experiencing great success and economic growth by adopting a “grow it yourself” approach to entrepreneurial development. Rural Entrepreneurial Venture (REV) is an established program designed to develop small town economies, focusing on businesses, nonprofits, and governments. Wisconsin REV uses this same approach to help Wisconsin communities thrive.
REV began its eReady phase in June. The eReady phase is designed to provide background and foundation for the REV framework. The REV community will have time to assemble a core leadership team, preview the REV process and potential outcomes, and begin crafting our goals as an entrepreneur-centered community. Management then elects to participate in the three-year REV program when transitioning away from eReady.
The first cohort includes:
● Jefferson City, Waukesha County
● Greene County focuses on Latino entrepreneurs
● Amery City, Polk County
● Mineral Point City, Iowa County
● City of Hillsboro, Vernon County
“These communities will utilize this framework to achieve their specific goals of supporting rural entrepreneurs,” said Lisa, University of Wisconsin-Madison Extension Rural Entrepreneurship Venture Specialist. Taylor said. “Often, those goals include increasing the number of businesses in areas where there is a need. They also encourage young people who stay in the area and those who return to see that entrepreneurship is an opportunity for them. This includes creating an environment where people can act with this mindset.”
After completing the eReady phase in August, the five community leadership teams are ready to begin implementing the REV framework to realize the goals they created over the summer. Olivia Otte, GCDC Executive Director, commented: REV’s training and mentoring is helping to increase entrepreneurial opportunities, respond to demographic changes, and strengthen the workforce. ”
The City of Merrill and Washburn County will also join the first cohort in September and October, respectively.
The REV Program Support Team will join each community leadership team at the fall kickoff meeting to provide community-specific data and support teams as they prepare to work toward their chosen goals over the next three years with REV community coaches . The REV community also meets at specific stages of the program to receive relevant training and facilitate peer-to-peer learning.
WI REV Cohort 2 is currently planned for 2025.
A typical REV community is rural with a population of at least 1,500 and no more than 10,000, and may include individual cities/towns/villages, combinations of contiguous communities, or school districts. Local leaders in the REV community are willing to invest their time in partnership with local entrepreneurs and work to establish a robust entrepreneurial ecosystem and a diverse, more resilient economy. is. If you are part of such a community and would like to discuss the possibility of participating in the WI REV program, please contact Lisa Taylor at lisa.taylor@wisc.edu.
Wisconsin REV is an initiative led by the University of Wisconsin-Madison Extension’s Community Economic Development Program in partnership with Community Economic Development Associates (CEDA), Compia Financial, Southern Minnesota Initiative Foundation (SMIF), and the Energizing Entrepreneurs “e2” framework. I am.
