Augusta Technical College President, Dr. Jermaine Whirl envisions the development of a 12,000- to 15,000-square-foot small business incubator with a ‘Shark Tank’ feel in downtown Augusta and the funds are now available to make that happen.
The Downtown Development Authority of Augusta has received $2.35 million in congressionally directed spending, with help from Sen. Raphael Warnock, to develop a microenterprise center, and that center will be created in partnership with Augusta Tech. The center will provide various resources to help both aspiring entrepreneurs and current business owners succeed.
Whirl said Augusta currently has many entities that provide small business services, including the DDA. But they want to create a central location business owners can go to for resources, such as training, funding, and office space. The center will also serve as a commercial space for local businesses.
He said it’s too soon to tell how businesses can qualify to be included in this project.
“We will have standards to get in there, but we want barriers to entry to be low,” Whirl said.
DDA Executive Director, Margaret Woodard said much of the inspiration for this project grew out of the pandemic.
“The pandemic brought the entrepreneurial spirit to the forefront,” she said. “People had time to tweak any business plans they had and bring them to fruition.”
Woodard said there are 253 businesses in the Broad Street Corridor, which ranges from 13th Street to Fifth Street and from Telfair Street to the river.
“We want to sustain what we have and grow,” she said. “The vision is for this to be for everybody and to be affordable.”
Whirl said Augusta’s current businesses need support in a variety of areas, including marketing, legal training, and handling supply chain issues, and they want to offer classes that provide that support.
“We want it to be much diversified and have a cool mix of businesses,” Whirl said. “We want to make it more entrepreneurial; we’re looking at ‘Shark Tank’ programs.”
That would allow entrepreneurs to pitch their business ideas. Another idea has been to generate business funding by pairing entrepreneurs with angel investors.
“We want to get college students from Augusta Tech, Augusta University, and Paine College involved,” he said.
Whirl said many students have business ideas, and they want to cultivate and support those ideas.
While the center’s location hasn’t been determined yet, he said they have already looked at a building off Broad Street and spoken to the property owner. Whirl didn’t reveal that building’s exact location but said an announcement will be made once a property has been selected.
This won’t be the first time he’s helped to develop a business incubator. Whirl formerly served on the Greenville Chamber of Commerce Board of Directors, which helped to create the city’s NEXT Innovation Center.
“It’s on a much larger scale, and it’s still operating today,” he said. “The Augusta model will be just as successful but look a little different.”
Whirl said the announcement about the funds was made Friday, but people have already begun calling to volunteer their time and money.
“There’s a lot of excitement about this because the need is so great,” he said.
Whirl said they don’t have a timeline, and the DDA hasn’t received the funds yet. The DDA, Augusta Technical College, and other stakeholders, such as the City of Augusta, local chambers of commerce, and Augusta Tomorrow, will meet to discuss the next steps in the process.
Both he and Woodard said they want to get input from the local business community.
“Entrepreneurship is a big hole that somebody needs to fill,” Whirl said.
In the future, they plan to hold a press conference to provide more details about the project.
