Business school program results in successful ventures in area

Numerous Western Pennsylvania businesses supported by a program at Pitt prospered in 2005,… Numerous Western Pennsylvania businesses supported by a program at Pitt prospered in 2005, according to some recently published statistics.

In its Annual Report for 2005, the Institute for Entrepreneurial Excellence at the Katz Graduate School of Business displayed evidence that businesses supported by the IEE in Western Pennsylvania grew steadily throughout the past year.

The IEE offers a wide range of programs to help businesses grow successfully.

Cynthia L. Kutcher, director of events and marketing for the IEE, said that IEE tracks client activity during the course of the year. She said that the results of the annual report are based on individual consult records with each client.

“99.9 percent of companies [they] work with are privately held,” Kutcher said.

Many of those companies are family-owned, start-up businesses or businesses working on expanding in their industry.

Kutcher described the types of businesses represented by the IEE as “everything you can imagine,” some of which include companies in the technology field, retail, manufacturers and consultants.

She added that they all have an area of expertise.

The businesses seeking help from the IEE are started and run by entrepreneurs.

The statistics shown in the report reflect the entrepreneurial group of businesses.

Kutcher said that students provide support for the clients. Both undergraduate and graduate students are assigned to work with companies. The tasks that they perform for the businesses vary from company to company.

Business owners come to the IEE for anything from advice on starting a business, to understanding the various aspects involved in working as an entrepreneur, to learning how to expand their company.

The IEE aided clients in the task of obtaining a total of $26.6 million in loans or investments, according to a press release from the University.

As a result of assistance from the IEE, 63 entrepreneurs were able to start or purchase a business in 2005.

Kutcher believes that these small business owners are the group of people helping to push Pittsburgh and Western Pennsylvania’s economy forward.