innovate arkansas

"I think we're not necessarily a state of risk-takers," Adams, president and chief executive officer of the Arkansas Research Alliance, said, adding that farmers are the exception.

But Adams also said that the state is making progress through various programs such as Accelerate Arkansas, the statewide group of leaders focused on building a knowledge-based economy.

Though the topics of the speakers at the symposium, held at the Little Rock Regional Chamber of Commerce on Thursday, were varied, most agreed that Arkansans need to be more aware of the resources available to entrepreneurs and must be provided access to those resources.

The symposium was organized by alt.Consulting, a nonprofit that provides managerial services to minority-owned, women-owned and rural businesses in the Delta regions of Arkansas, Memphis and Tennessee.

Besides Adams, the panel included of Lydia Carson, president and CEO of Balm Innovations LLC; R.J. Martino, president of iProv LLC; Michael Steele, president and CEO of Advantage Communication; and Sam Walls, president and CEO of Arkansas Capital Corporation Group.

Walls said more opportunities are available to entrepreneurs, who shouldn't rely on government for everything, when localized efforts in the private sector are supported.

"What we need to do is to see to it that our forces are not divided," he said.

Steele said another strategy for successful entrepreneurs is the ability to take "intelligent" risks, and added that the state has a "very serious void of minority-owned businesses."

Carson said many people who have good business ideas don't know what resources are available.

Tom Dalton is director of Innovate Arkansas, an Arkansas Economic Development Commission program launched by Winrock International that will work with entreprenuers and innovators to bring their ideas to market.

The targeted client base includes independent emerging entrepreneurs, university research facilities and existing technology companies.

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 site will include multiple databases of resources, from capital funding entities to individuals with technological expertise.

"We have a surprisingly high number of walk-ins," Dalton said, adding that there seems to be a high demand for such a program. "The more we get the word out, I think that's going to continue."

Martino said one invaluable resource is education.

"Somewhere in my educational process I learned how to evaluate opportunities," he said.

Other topics included gaining market acceptance and being focused on customers.

Walls said raising capital can be difficult, but he believes the competitive process is beneficial.

"Jack Stephens said that good deals get funded...I still think good deals get funded," he said.