Entrepreneurship Award Goes to ARK Challenge

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Jeff Amerine (center), director of Technology Ventures at the U of A with Kim Davis (from left), Jeannette Balleza Collins and Mike Harvey

FAYETTEVILLE, Ark. — The ARK Challenge, a mentorship-driven accelerator program for technology startups that includes the University of Arkansas as a partner was recognized on Oct. 20 with a top award by the the International Economic Development Council. The council is the world’s largest professional organization for economic development practitioners.

The ARK Challenge received an Excellence in Economic Development Silver Award for Entrepreneurship at the council’s annual conference in Fort Worth, Texas. The award was presented to the representatives of the Northwest Arkansas Council and Jeff Amerine, director of Technology Ventures, the technology transfer office at the U of A.

“I was proud to be part of the ARK Challenge,” said Amerine, who served as a mentor to the startups. “It was a great honor for the ARK Challenge to be recognized by the IEDC because the program demonstrated the real impacts that are possible through a public-private partnership between the University of Arkansas, Winrock International and the Northwest Arkansas Council.”

The entrepreneurship award goes to programs, policies, or initiatives that nurture and support individuals or emerging small businesses to develop their ideas, products, and/or services into viable, competitive businesses.

“Economic development efforts have long been a keystone in the quest to bolster the economy and improve quality of life in every locality across the country,” said Bill Sproull, the International Economic Development Council’s chair and president and CEO of the Richardson (Texas) Chamber of Commerce. “As the nation continues to tackle challenges in the midst of global uncertainty, these efforts have taken on an even greater significance. With this award, we laud trendsetting organizations like the Northwest Arkansas Council for leading the charge.”

The U of A, the Northwest Arkansas Council, The ARK Challenge and other partners began collaborating on projects to support entrepreneurs in early 2012. The ARK Challenge holds weeks-long boot camps to assist startups in the development of their companies and it’s a full member of the Global Accelerator Network.

The partnership has helped draw national attention to opportunities for entrepreneurs in Northwest Arkansas. A CNNMoney headline referred to Northwest Arkansas as a “hotbed for startups.” Fast Company magazine noted that Northwest Arkansas-based Walmart had “created a cottage industry of small-town retail innovators,” and Entrepreneur magazine put Northwest Arkansas in its list of “nine cities you wouldn’t think are hubs for tech startups,” joining Portland, Omaha, Las Vegas, Kansas City and four other places.

IEDC’s Excellence in Economic Development Awards recognize the world’s best economic development programs and partnerships, marketing materials, and the year’s most influential leaders. The awards honor organizations and individuals for their efforts in creating positive change in urban, suburban and rural communities.