ASTA Teams With Winrock International To Launch Innovate Arkansas

Tuesday, Feb 26, 2008

Source: arkansasbusiness.com
By Arkansas Business Staff

Winrock International on Tuesday will launch the Innovate Arkansas program, which will develop and manage a state technology commercialization initiative for the Arkansas Economic Development Commission.
Tom Dalton, a former Little Rock city manager and former director of the Arkansas Department of Human Services, will be director of Innovate Arkansas, which wants to help build knowledge-based companies that pay wages of at least 150 percent of the state average.

The program is designed to find technology-based entrepreneurs, then provide assistance to validate, support and advance them.

"Innovate Arkansas is a operational program that will be working with new technology-based startup companies with the aim of providing them the support services required for product viability, market analysis and business development that will help move them from innovation to enterprise - to new commercial companies," Dalton said.
The targeted client base will be independent emerging entrepreneurs, university research facilities and existing technology companies.

"Right now, we're looking at a core group, initially, of about 50 or so companies or individuals that have expressed an interest, and we're very near to identifying the first 10 clients," Dalton said.

Lighthouse Advisors, a Little Rock consulting firm, has been retained by the program to provide financial assessment and advisory services. Mike Smith and Ted Dickey, both of Little Rock and Slaton Fry of Batesville comprise Lighthouse Advisors.

Arkansas Business Publishing Group and its FLEX360 Web development firm have been retained by Winrock to build, provide content for and market a comprehensive Innovate Arkansas Web site, which will launch this spring.

"The Web site will include multiple databases of resources, from capital funding entities to individuals with technological expertise," Jeff Hankins, president of ABPG, said. "We will also provide trend stories, features and a blog that focus on entrepreneurs and innovative ideas being developed and marketed throughout Arkansas."

Winrock said it has developed a team of state resources for the project, including the University of Arkansas, the University of Arkansas at Little Rock, the University of Arkansas for Medical Sciences, Arkansas State University, the Arkansas Science and Technology Authority, the Arkansas Development Finance Authority, venture capital firms, chambers of commerce, economic development entities, small business development centers and other businesses.