The more professional connections a student makes in his or her formative years, the more likely he or she is to gain employment right out of the gate upon graduation.
This bedrock principle has been one of multiple guiding forces behind The Commons, a Milwaukee-based entrepreneurial accelerator program that organizers say is used to bridge gaps between the academic and business stratospheres — particularly when it comes to the innovation economy.
“We’ve been able to see an impact over the past three-and-a-half years,” said Michael Hostad, who is executive director of Innovation in Milwaukee (MiKE), which in turn is an initiative of the Greater Milwaukee Committee.
Hostad said The Commons fits hand-in-glove into the Greater Milwaukee Committee’s strategy. The nearly 200 leaders associated with the civic nonprofit organization aim to make Southeastern Wisconsin a better place to live, learn, work and play.
Startup Milwaukee, an organization supporting high-growth entrepreneurship and innovation throughout the region, also has offered its resources to the program.
Since its founding in 2014, The Commons has brought together Milwaukee-area college students in a number of specific curricular areas, such as business, engineering and marketing.
The Commons was hatched from an evaluation of today’s collegiate programs. While there are elements of the innovation economy interspersed into higher-level curriculum, Hostad and others involved said gaps were discovered, particularly in terms of real-world scenarios.
The students enrolled in the twice-annual accelerator program — offered in the fall and spring — are matched with mentors who have keen insight into the innovation economy.
Project tasks could include establishing a start-up company from scratch or formulating innovation strategies for an established company.
“It creates a real network of professional connections,” said Maggie Bryde, project manager with MiKE. “It builds strong relationships.”
While the local startup community has provided plenty of muscle behind The Commons, legacy companies deeply entrenched in the Milwaukee market also have pledged corporate partnership. The disparate list includes, but is not limited to, Kohl’s, Manpower and Rexnord.
“We have a large number of companies, many of which are repeat customers of ours,” Hostad said.
With roots firmly in place in Milwaukee’s innovation scene, leaders behind The Commons have visions of taking the program to new heights in the not-too-distant future.
Joe Poeschl, program director with The Commons, said a number of scalable opportunities are being explored, including small pop-up workshops for participants who might not be able to commit to the 9- to 10-week duration of the traditional accelerator offering.
Geographic expansion also is high on the program’s priority list, Poeschl said, hinting at a desire to branch off beyond the immediate Milwaukee area.
Kenosha, Racine and Sheboygan have been pinpointed as some of the first expansion areas. Madison also has been looked at as a possibility.
“If we can knock it out of the park there — that’s a big opportunity,” Poeschl said, referring to the state capitol.
Hostad said he is optimistic The Commons will be able to transfer its infrastructure to areas beyond Milwaukee.
“I think it’s a model we can easily see across the state,” he said.
Photos Credited to Robert Colletta
