Hendren Talks Accelerate Arkansas at Techpreneur Breakfast

Friday, Jul 27, 2007

UALR’S Bailey Hall was the setting Tuesday for the latest Techpreneur Breakfast featuring successful entrepreneur Dr. James Hendren. The event, sponsored by Softwyre, The Arkansas Economic Development Commission, AT&T, and the Arkansas Economic Acceleration Foundation, was a chance for Hendren to give an update on the successful passing of Accelerate Arkansas’ legislative agenda from the 2007 Session.

Hendren is best known as the man who transformed ARKSYS, his small 4-employee entrepreneurial company, to a $12,000,000 business. During the breakfast he talked about Accelerate Arkansas’ various initiatives, each centering on technology entrepreneurship and education.

During his half hour presentation, Hendren provided an overview of the eight different highlights of the legislative agenda starting with research. The plans included the creation of a non-profit research alliance that would identify and develop areas of job-creating scientific research, as well as the continued funding of knowledge-based research programs that exist in the state. This also encompasses continued support of the Arkansas Science & Technology Authority’s Basic Research Grants, R&D Grants, and funding of the Arkansas Biosciences Institute and research project funding for new start-ups.

Also part of the plan is to establish a risk capital matching fund for the purpose of providing financial assistance to Arkansas-headquartered, knowledge-based companies. Specifically, companies with the most promise of developing high-paying jobs. In addition, Hendren placed emphasis on a continued commitment to the Authority’s Seed Capital Investment Program to foster the development of innovative technology-based businesses and industrial competitiveness in the state.

On the education front, Hendren cited the importance of a firmly established STEM (Science, Technology, Engineering and Math) Supplemental Income Grant that would increase the state’s ability to retain and hire science, technology, engineering and math teachers.

Hendren wrapped up his talk with a review of amendments made to the Consolidated Incentive Act of 2001, and his thoughts on the potential for a new taskforce, designed to focus on better coordination of state programs and services needed to be globally competitive in the 21st century.
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If implemented successfully, Dr. Hendren foresees a long-term impact of the new programs on Arkansas’ economic future.

To view a copy of the full agenda description, visit the Accelerate Arkansas Section.