Funding hurdles high for new Entrepreneurship Center in OKC

When Shelli Todd took the director's position at the newly established 2nd Century Entrepreneurship Center at the beginning of the year, she was driven by a lack of money.

It's the most difficult obstacle for any new business to overcome, she said: "Absolutely. Funding. There's no doubt about that. "

"And it's an aspect that I'm still researching and finding the best ways to develop resource contacts for people. I don't have all the answers yet, because if I had them I would have put them all into use when I needed it myself," Todd said.

Todd spent several years self-employed in a construction-related manufacturing business and developed close relationships with many other entrepreneurs, Todd said, "and that drives my passion for small business and people who are starting out on their own. "

"It was a very eye-opening period for me. It gives you a distinct desire to say, 'Good grief, let's make this process as simple as possible. '"

Former House Speaker Lance Cargill, R-Harrah, authored the legislation enacted last year to create the center in the state Commerce Department. The purpose of the center is to provide a central access point for information that anyone needs to start a business.

The agency's site at www.okstartup.com provides links to appropriate divisions of the IRS and government business registration packets such as the forms necessary to file with the secretary of state. The site also points to groups across the state that can offer assistance, such as the Oklahoma Center for the Advancement of Science & Technology and i2e business development programs.

But ironically, the center has no funds of its own to share with those startups, she said.

"What we can do is provide as much education as we can through our partners and service providers about how to go after what's available," she said. "In the case of i2e and OCAST, for example, I stay as informed as possible because if there's ever a good fit, we want businesses to be able to compete for those funds. There's already some information out there about what a venture capitalist is and what's an angel investor.

"Entrepreneurs are the kinds of folks who generally have an idea of how they want to move forward and make choices for themselves. So we want to equip them the best we can, remove all the roadblocks and foster as much growth as we can encourage," Todd said.

Last week's Entrepreneurship Day at the state Capitol served as the center's grand opening event and was attended by Lt. Gov. Jari Askins and state Secretary of Commerce and Tourism Natalie Shirley.

"The state recognizes the sense of urgency and importance in creating a culture of entrepreneurship in Oklahoma," Askins said.

"Oklahoma's entrepreneurs will provide the innovation, creativity, and leadership needed to take us successfully into our next 100 years. "