On this episode of the #BuildingBN podcast, CEO Patrick Hoban talks with Harriett Steinbach, Director, Innovation and Strategic Partnerships at Illinois State University.

Host:

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Patrick Hoban: CEO, Bloomington-Normal Economic Development Council ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠

Guest:

Harriett Steinbach: Director, Innovation and Strategic Partnerships at Illinois State University

Websites: 

⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.bnbiz.org/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠

Illinois State University

Takeaways:

• Harriett has been at ISU since 2002, with a focus on community engagement.
• She transitioned to the Office of Research to lead innovation and partnerships.
• The Bloomington Normal Innovation Hub aims to connect higher education institutions for economic benefit.
• Applied research is crucial for solving community issues and fostering innovation.
• The hub aims to establish a business incubator that supports local entrepreneurs.
• Community input is vital for effective strategic planning.
• The hub will not duplicate existing services but strengthen connections.
• Harriett emphasizes the importance of organic connections in entrepreneurship.
• The goal is to launch programming by mid-2026, even without a physical space.
• Creating a physical space will enhance opportunities for collaboration and innovation opportunities. Strategic planning is essential for economic development.
• An overarching ecosystem for entrepreneurship is needed.
• Infrastructure gaps can hinder business growth.
• Showcasing local attractions can help retain talent.
• Economic development reflects community investment.
• Funding is a significant challenge for entrepreneurs.
• Collaboration is key to filling gaps in support.
• A diverse economy is crucial for long-term stability.
• Building an innovation corridor can enhance regional growth.
• Engaging with local investors can boost startup funding.