Fayetteville Aims for Economic Development, Diversity (Education/Workforce | Winner, Class I)

With Arkansas’ largest college, it’s no surprise that Fayetteville is one of the state’s best in education and workforce, though the reasons why may shock you. The city thrives on entrepreneurship and the development of locally-owned businesses.

With the self-proclaimed title “The Startup City of the South,” Fayetteville focuses on job growth and workforce education through its term “economic gardening.” This concept is the reliance on entrepreneurial education and the development of small businesses to promote job growth and talent.

The city realized its need for entrepreneurial development with its Fayetteville First Plan, a composition of strategic focuses on arts and culture, business retention, education and workforce, entrepreneurship, lifestyle quality, marketing and sustainability.

To achieve its small-business goals, the city has partnered with Startup Junkie Consulting, a globally proven social venture that provides consulting, mentoring, outreach and access to capital for Fayetteville’s entrepreneurs.

As part of the Fayetteville First Plan, Startup Junkie has collaborated with several local schools, including a high school, to incorporate entrepreneurship curriculum. Beyond education, Startup Junkie has helped in the creation of innovative workforce development events, including E-Teen Ventures — a highly competitive, one week program last summer to engage and empower students by teaching them the basics of entrepreneurship. To further education on starting a local business the city and Startup Junkie created a “Startup Resource Guide” full of resources and educational programs for those interested in starting a company.

Thanks to the collaboration with Startup Junkie, the city has seen of 456 Fayetteville entrepreneurs who have had free assistance. Of those entrepreneurs, over 113 were minority, 76 were women and 11 were veterans, creating a diverse culture around the entrepreneurial ecosystem in Fayetteville’s community.

To encourage this startup environment, Startup Junkie has conducted a variety of events, including pitch competitions, workshops and programs with over 3,589 attendees. Fayetteville prides itself on its diversity, and hosts events focused on minority-owned ventures titled the “Minority Plug.” Fayetteville is also home to “ScaleUp Demo Days,” the largest entrepreneurship event ever hosted in Northwest Arkansas, with over 400 people attending.

Yet another collaboration between the city and Startup Junkie is the formation of the Fayetteville Innovation Council, a 21-member group that meets every two months with the city of Fayetteville to discuss challenges and opportunities in the entrepreneurial community.

To further the Fayetteville First Plan, the city and Startup Junkie have focused on supporting the local artisan food and craft beverages industry. To do this, the city has accelerated food and beverage ventures through its ScaleUp Program, which has led to the development of several companies, including Con Quesos and Blackboard Grocery.

In attempt to share its success and promote the success of others, the team has worked together to highlight success stories through a series of videos. These videos showcase successful, local businesses such as fashion brands Lauren James, Menguin and Fayettechill and retail market research company Field Agent to educate and inspire others.

Inspiring up-and-coming entrepreneurs starts local and the city works closely with the University of Arkansas to continue development of the talent pipeline. Startup Junkie has also opened “Center Space,” a place for entrepreneurs to learn from another, speak to consultants and utilize resources. This space is located in Fayetteville’s historic square, right down the road from the university and central to the city’s business district.

There’s no doubt that Fayetteville serves as a hub for the up-and-coming to develop, grow and be successful. Its partnership with Startup Junkie Consulting has led to a flourishing city of local businesses, which has led the city toward economic growth.