What is CBET?
In 2008, BHSU and its College of Business & Technology combined two centers into one, forming the Center for Business, Entrepreneurship & Tourism.
Research: The Center carries forward the legacy of service to the South Dakota community by providing reliable business and tourism research. (Please see Past Projects for a listing and descriptions of the various economic impact analyses and marketing studies that the Center has delivered.)
Business Training for Entrepreneurs: In addition to business research, the Center focuses on the development of Black Hills regional business as its new mission. The Center for Business, Entrepreneurship & Tourism seeks to recruit talented entrepreneurs and business people of the region to join the “Emerging Business Network”. The Center will collaborate with BHSU Educational Outreach to provide a series of business training seminars in the Fall of 2009: The Entrepreneurial Professional Certificate program. As entrepreneurs are being trained in business, the CBET staff are underway to be certified by the NBIA, National Business Incubation Association.
“South Dakota has been noted as being very high in business start-ups per capita, but also very low in survival of those business start-ups. This high failure rate indicates a lack of educational training, mentoring, capital resources and acceleration programs.” South Dakota Incubator Alliance-Strategic Plan
A Mini-Incubator for New Business-Proof of Concept: The Center has a three phased plan to evolve into a full blown business incubator over time. Training is the first phase. In 2010, following the Entrepreneurial training program, the Center will accept application from certificate holders to compete with their business plans for two mini-incubator scholarships on or near the University campus. This proof of concept phase, dependent upon funding, will provide incubator space to the two winning businesses for two years. The scholarships will provide rent assistance, marketing funds and/or assistance, shared management and office administration resources and shared office equipment. More importantly, the tenants of the mini-incubator will receive the mentoring required to keep their business on track to be successful for their launch to independence.
“NBIA members have reported that 84 percent of incubator graduates stay in their communities. Historically, NBIA member incubators have reported that 87 percent of all firms that have graduatedfrom their incubators are still in business.” Source-Business Incubation Works
Three Phased Northern Black Hills Business Hatchery Project
CBET becomes Northern Black Hills Business Hatchery-a mixed use business incubator at BHSU!: In the third phase of the plan, the Center for Business, Entrepreneurship & Tourism makes the transition from a mini-incubator to a real incubator. Again, pending funds availability, the incubator will be located on the BHSU campus with proximity to faculty, interns, and students. The incubator will be named the Northern Black Hills Business Hatchery because it evokes a visual image of releasing a newly grown business that is ready to survive and thrive in the outside environment. Entrepreneurs who have business plans that show promise of growth and the creation of interesting jobs that will employ college educated people at above average wages will be eligible to apply for positions at the hatchery.