October 2019
Fall REV Newsletter
"If you don’t start today, you’ll be in the same place tomorrow.” Wise words from Maria Meyers, founder of SourceLink and co-author of the book Beyond Collisions: How to Build your Entrepreneurial Infrastructure.

Our REV towns create new beginnings every day because REV has given them a framework to build their local economies. From business succession to developing a local investment group, October’s REV quarterly conversation sparked new ideas and resources to take back home. Now halfway through the three-year process, communities have connected with over 125 entrepreneurs and implemented more than a dozen new systems.

Some of these successes are highlighted in this issue of the REV newsletter, including Spring Valley's new business development program and a REV Small Town Grant recipient!

What’s to come? We are excited to see what the next year will bring and how REV communities are transforming their economies for the future. High on the list, deeper community engagement and organizational capacity to do more.

If you have questions, concerns or creative suggestions as they relate to REV, please contact me at 507-214-7013 or  pamb@smifoundation.org . 
Pam Bishop
Vice President - Economic Development
Southern Minnesota Initiative Foundation
Community Spotlight: Spring Valley

By Chris Hahn, EDA Director for Spring Valley
Businesses in Spring Valley and southeastern Minnesota now have another resource to help them develop strategic plans for successful growth. The Small Business Development Online Series offers resources and online learning on a variety of topics where small businesses expressed a need for additional resources. The series offers resources and instruction on topics such as Starting a New Business, Bookkeeping and Payroll, Onboarding and Training, Business Essentials, and Business Marketing and Succession Planning.

Businesses choosing to participate in the Small Business Development Online Series will be required to set up an account online. Once established, they will be able to choose any of the various training modules and complete them as desired. Upon completion of all the topics, each participant will receive a Certificate of Completion.

This is the culmination of a collaboration between the City of Spring Valley and its business community, Community Economic Development Associates (CEDA), and Rural Entrepreneurial Ventures (REV). A survey was developed and administered to local businesses inquiring as to what areas they felt a need existed for more business education. Spring Valley compiled this information and was then able to apply for and secure a grant through Southern Minnesota Initiative Foundation. These funds were used to develop an online learning solution with Rochester Community and Technical Colleges Center for Business and Workforce Education that was tailored to those specific needs.
Congratulations to Small Town Grant Recipient:
Blue Earth REV!
Congratulations to BEA REV'd Up and Blue Earth EDA for receiving a $7,500 Small Town Grant! The grant will support SHOP Blue Earth, a community initiative which works to provide local high school students with resources to learn more about career options by connecting them with area professionals. SHOP hopes to encourage students to consider Blue Earth as a place to own businesses, excel in their careers, buy homes and build their futures by helping them establish relationships with local professionals and experts who can support and encourage them. By providing these opportunities, they hope to inspire students to remain in the Blue Earth area after high school to work locally, or return after pursuing further education.
Business Succession Resources
Thanks to everyone who came out for the REV quarterly meeting at SMIF! We had a full day of learning, including some great information on business succession planning from Jennifer Hawkins of UMN Extension Services.


REV gets statewide exposure
NEW On Air Vital Connections podcast episode

In a NEW podcast episode of On Air Vital Connections, Scott Chazdon and Pam Bishop share how Ripple Effect Mapping (REM) has allowed the REV program to evaluate its efforts in a unique way.


Planning Minnesota Newsletter

REV was featured as an article in the July - September issue of Planning Minnesota, a publication of the Minnesota Chapter of the American Planning Association. You'll find some familiar faces in the photos!

Why do you love where you live?
SMIF's  Love Where You Live campaign will strengthen our region’s future. Won’t you join us in creating vibrant communities where more than 581,000 people call home?

Watch the video below to see how SMIF is supporting the vibrancy of our region.
About REV

The  Rural Entrepreneurial Venture (REV) program is all about finding and igniting existing entrepreneurs in communities. By adopting a "grow your own" approach to entrepreneur development, the REV model helps community grow from within. Our coaches ( Southern Minnesota Initiative Foundation staff and partners –  Region Nine Development Commission  and  University of Minnesota Extension ) are committed to working with each of the six communities for a three year period, launched in 2018. The REV model is based on  Network Kansas's  tried and tested Entrepreneurial Ecosystems (E2) framework. REV is supported by the Blandin Foundation .
About Southern Minnesota Initiative Foundation

Southern Minnesota Initiative Foundation (SMIF), a donor-supported foundation, invests for economic growth in the 20 counties of south central and southeastern Minnesota. The Foundation has provided more than $114 million in grants, loans and programming within the region during the past 33 years. SMIF's key interests include economic and early childhood development and community vitality. To learn more about our work and mission, visit  www.smifoundation.org .
Southern Minnesota Initiative Foundation | 507-455-3215 | www.smifoundation.org