Clark University School of Management (SOM) graduate students have new opportunities to apply their skills in the real world as interns at the Small Business Development Center on campus and in downtown Worcester.
SOM recently partnered with Worcester Business Development Corporation (WBDC) on Idea Lab, a coworking and accelerator space located at 20 Franklin Street. At this location, SBDC staff and interns can meet with small business owners such as: I can't come to his SBDC office on the Clark campus.
Students in Clark's Entrepreneurship and Innovation program can also utilize the Idea Lab space to formulate and develop their own ventures.
The SBDC has been located at Clark University since 1983 and is part of the federally funded Massachusetts Small Business Development Network. Headquarters are located at the Massachusetts Amherst campus and include his six centers designed to assist small business owners. The Central Massachusetts Center in Clark is the largest center in the state.
“Just like chemistry or physics students, business students need labs to prove their proficiency,” said David Jordan, dean of the College of Business. “They need to be able to demonstrate the skills they learned in class. The SBDC serves as an excellent experimental lab for graduate students to collaborate with his SBDC staff and work directly with small businesses. It's a real job. Yes.”
Jordan said students will assist business owners with developing business plans, securing start-up funding, launching businesses and expanding established businesses. Students from all of his SOM programs participate, including management, accounting, marketing, finance, and business analysis.
Also occupying the Idea Lab space is Clark Consulting Group, a student-run organization created to provide SOM students with opportunities to collaborate with local businesses. The group was inactive for several years, but was revived this year. Its members work with his SBDC staff to provide market research, business planning, financial analysis, marketing strategy, operational support, or technology implementation to small business owners. Grow your venture, overcome challenges, and adapt to changing market conditions.
Parimala Yerraguntla, MS ’25, is a member of Clark Consulting Group. “Working with real customers and business owners allows me to apply classroom knowledge to real-world scenarios while pursuing my degree,” she said, adding that the job helped her develop her skills and improve her business skills. He pointed out that it helps us understand the world more deeply.
Aryan Pankaj Dabade (MA '25), also a member of Clark Consulting Group, said:
“Clark Consulting Group believes that by engaging with small business owners through the SBDC and the Idea Lab, we will have a significant impact on Worcester’s business community,” Ilaguntola added. “By providing expertise, guidance and resources, we contribute to the growth and sustainability of local businesses. This creates jobs, increases economic activity and creates a more vibrant entrepreneurial community in Worcester. It could create an ecosystem and more passionate business owners.”
Dabhade added that SBDC, Clark Consulting Group and Idea Lab's services are perfect for people who have ideas and skills but don't know how to create a business. “We can provide the strategy and technical support to make their dreams a reality.”
The Worcester Idea Lab space includes a conference room where SBDC staff and interns can meet with business owners.
Jordan said the downtown location puts SBDC and SOM “where the business is.” “It's convenient for business owners, especially those who aren't used to college campuses.”
Tom Herold, Clark's SBDC regional director, said he is excited about the expansion to Idea Lab. “This will showcase the collaboration between the SBDC, the School of Business, the Worcester Business Development Corporation, and the city, state and federal governments. It is the essence of a community working together to grow the local economy.”
Working with SBDC staff and management in the Idea Lab is a great opportunity for students, Jordan said. “It allows them to be involved in the community. I can't stress enough how important that is.”
