Pearland Launches Pearland Innovation Hub for Community Entrepreneurs
In May 2022, PEDC announced the official launch of the Pearland Innovation Hub, an entrepreneurship initiative designed to connect entrepreneurs and small businesses in Pearland with the necessary resources to grow and succeed.
The Hub will connect the City to local and regional entrepreneurship assistance programs, service providers and funding sources to ensure local entrepreneurs and small businesses in Pearland connect with these resources to maximize their growth potential and overall success. Offerings of the Hub will include business plan competitions, proactive coaching, networking events and student programs to encourage entrepreneurship.
This new program is the result of the Pearland Prosperity Community Strategic Plan’s call for the creation of a Hub for entrepreneurship in Pearland, and the completion of a Market Assessment and Business Plan for the Hub which identified market opportunities and created a plan to support entrepreneurs and small business owners, encourage innovation and entrepreneurship culture, and connect entrepreneurs to resources within the region.
In 2020, PEDC began working with Business Cluster Development (BCD) to evaluate the feasibility of providing some type of hub for entrepreneurship in accordance with this focus area. The feasibility study determined that there is a market for an entrepreneurship hub that focuses on enhancing versus replacing the current services available to support entrepreneurs and small business owners in Pearland.
The evaluation was conducted in two separate, but related phases: Phase I focused on assessing the Market Opportunity by conducting significant outreach with the steering committee to the business community and service providers. Phase II focused on developing the Business Model (i.e., the operational and cost framework) needed to develop, implement and sustain the project.
In April 2021, the PEDC Board of Directors, after reviewing the proposed Hub’s business model and consulting with steering committee established to advise the feasibility study, along with the Pearland Prosperity Implementation Committee and Chamber Board of Directors, voted to move forward with the creation of the Entrepreneurship Hub.
In the short term (1-2 years), the Hub will be run through PEDC, but eventually will transition to its own non-profit corporation with a contractual relationship with PEDC.