Special Report: Developing an Entrepreneurial Ecosystem in Central Wisconsin
Tim McKeough Associate Lecturer
Carie Winn Outreach Specialist
Kevin Neuman Head, Sentry School
An entrepreneurial ecosystem is an important component of a dynamic and healthy economy. A strong ecosystem facilitates innovation by promoting creativity and helping entrepreneurs commercialize their ideas. It supports economic growth by expanding existing businesses and launching new ventures. A healthy ecosystem also leads to a more resilient economy by promoting a collaborative culture and keeping profits in the community. The University of Wisconsin-Stevens Point is an important part of the entrepreneurial ecosystem of Central Wisconsin. Each year, the university brings together over 1,500 young adults to one of its three regional campuses, from locations near and far. These students are plugged into classes and programs that develop creativity and critical thinking skills, while they gain knowledge across disciplines and industries. When they graduate, these students provide a steady pipeline of talent to organizations as well as a stream of eager entrepreneurs into the regional economy. As part of UWSP, the Sentry School of Business and Economics has always shared this commitment to economic development and entrepreneurship. Recently, however, the Sentry School examined its efforts related to entrepreneurship and decided it could, and should, do more. In our most recent strategic planning session, we realized that relative to our competitor institutions, our portfolio of entrepreneurship classwork, training, and opportunities was deficient. This meant that the Sentry School risked not having a strong culture of entrepreneurship or a reputation to attract entrepreneurs to UWSP and the region. At the same time, the Association to Advance Collegiate Schools of Business
(AACSB), our accrediting body, changed its standards, challenging member institutions to develop an individual strategy aimed at having a positive societal impact. When considering these two factors, we realized that improving our entrepreneurial programming and efforts could remove our competitive deficiency and better serve our students, while also making a stronger contribution to our regional entrepreneurial ecosystem and economic development. In short, entrepreneurship is an area where we can have a strong positive impact. This article outlines the efforts of the Sentry School to contribute to, and expand, the entrepreneurial ecosystem in the region. Our activities take place in two dimensions, external within the regional community and internal to the Sentry School and UWSP. While the emphasis here will be on Sentry School activities, we acknowledge that we are not alone in these activities, or even the leader in the region. In particular, the Sentry School would like to acknowledge the fantastic work done by the Small Business Development Center (SBDC) at UWSP, Central Wisconsin Economic Development Fund (CWED), CREATE Portage County, Wisconsin Economic Development Corporation (WEDC), Marathon County Development Corporation (MCDEVCO), Greater Wausau Chamber of Commerce, Heart of Wisconsin Chamber of Commerce, Marshfield Area Chamber of Commerce and Industry, Portage County Business Council, and numerous individual participants who have worked with us on these initiatives. Together we are working towards the common end of creating and supporting entrepreneurs in Central Wisconsin.
Central Wisconsin Report - Spring 2025
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