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Community Partnership Expands the Hatch for Student Entrepreneurship

MSU Students return to campus with double the startup space and resources

Tuesday Sept 9, 2014

EAST LANSING, MI – Just in time for the new school year, The Hatch is ready to open doors and kick off a new year of startups and entrepreneurship. MSU’s student co-working space is designed to host, accelerate, cultivate and enable student entrepreneurs to grow their ideas through a creative, co-working environment.

The addition of 1,135 square feet of new space was funded through partner Lansing Economic Area Partnership, the Michigan Economic Development Corporation, and a 3-year, $75,000 gift from MSUFCU. These partners helped nearly double the square footage to 2,542 square feet. The new space is outfitted with a pair of HD videoconference-ready breakout rooms, a multimedia editing suite, new monitors, 24-hour keyfob access and video security, and perhaps the most important tool for startups: a new coffeepot.

The Hatch provides a valuable connection to numerous entrepreneurship resources, including access to grants and funding competitions, mentoring support, research assistance, design and web development.

"It's important for us to find ways to support and build the community we serve. Helping to grow a strong startup culture and retain talent right here is a win for our region,and our state,” said April Clobes, Executive Vice President and Chief Operating Officer of MSU Federal Credit Union. “We’re proud to support students, and help entrepreneurs achieve their dreams of owning their own business.”

In the 2014 academic year, students in The Hatch raised more than $210,000 in startup support, through national and international business plan competitions and grants.

“In the last academic year, 156 teams of student startup candidates accessed the Hatch to explore business ideas, and get research, design, mentoring or funding help, said Paul Jaques, “This is a much needed expansion that we are excited to share with students and the community.“ 

By sharing a common workspace, members are able to work on their own business ventures while collaborating with other students, Fellows and Mentors-In-Residence, to create diverse teams and increase successful outcomes.

”Today, MSU, Spartan Innovations, LEAP and the MEDC lead our region into a new partnership, into a new era of developing a robust entrepreneurial connection between MSU students, the Lansing region, our incubation network and an emerging entrepreneurial eco-system,” said Bob Trezise, President and CEO of LEAP.

This expansion takes the concept of building an entrepreneurship ecosystem one step further by expanding a community co-working space called the 300 Room, adjacent to the Hatch. Built to serve as a meeting room and networking space, the 1,900 square foot300 Room is equipped with a media suite, and can be used during weekly “open hours” or via scheduled reservations made by contacting the Technology Innovation Center at 517.708.3801.

The MSU Innovation Center combines innovation, technology transfer, start-up support, and a portfolio of dedicated business and community partnerships to bring cutting-edge ideas to the marketplace. Composed of MSU Technologies, Business-CONNECT and Spartan Innovations, the MSU Innovation Center stewards ideas from concept to product, launching more than 130 discoveries into patented products and start-up businesses annually. Learn more at http://innovation.msu.edu.

The Lansing Economic Area Partnership (LEAP) is a coalition of area leaders committed to building a prosperous and vibrant region where business can thrive. To do this, we help entrepreneurs start new businesses, help existing businesses grow, and attract new businesses to the region. For more information about LEAP, please visit www.purelansing.com.

MSU Federal Credit Union, the world’s largest university-based credit union, offers a full range of personal — and business-related financial services to Michigan State University and Oakland University faculty, staff, students, alumni association members, and their families worldwide in addition to a variety of select employee groups. Founded in 1937 by a few MSU professors and employees, MSUFCU now has thirteen branches, over 185,000 members, more than $2.6 billion in assets, and over 600 employees. MSUFCU was named 2014 Federal Credit Union of the Year by the National Association of Federal Credit Unions (NAFCU).More at www.msufcu.org.