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Welcome ID Members!
- Vickie Sowa- Bubbly Side of Life:
- Bubbly Side of Life is dedicated to sparkling wines and celebrating everyday moments. Vickie offers winery reviews, bubbly recipes, and tips for enjoying sparkling wine, with a focus on making any day worthy of celebration.
- Avinash Dear- IdeaGens, LLC
- IdeaGens is designed to tackle complex problems by combining creative frameworks, instant visualization tools, and AI technology. The company aims to rapidly transform challenging issues into innovative solutions through a collaborative approach. IdeaGens emphasizes creativity and teamwork to deliver results within weeks.
Much Appreciated:
Thank you to Jill Olenski of à la main and Anushka Verma, our IT Project Manager for their presentations at our Member Meetup last week! Attendees learned about à la main's organic ingredients and essential oils, demonstrating their commitment to safe, sustainable solutions for home and wellness. Anushka showcased our new Member Portal at the recent meetup. Set to launch this fall, the portal will enhance access to ID resources and services. Attendees got an exclusive preview of this valuable addition to our website. You can always access our presentations here.
Beneficial Ownership Requirement:
Starting in 2024, many small and mid-sized businesses must report their beneficial owners (individuals who own or control the business) to the Financial Crimes Enforcement Network (FinCEN). This applies to most companies registered with the Illinois Secretary of State, with some exemptions. Existing businesses have until the end of 2024 to file. For new businesses, those registered in 2024 have 90 days from registration to file, while those registered in 2025 or later will only have 30 days. The filing is free and done online through FinCEN's website. Non-compliance can result in penalties. Business owners should check if they're exempt from this new requirement.
- FinCen FAQs link (the most useful and comprehensive info link of all): https://www.fincen.gov/boi-faqs
- FinCen YouTube “How to File Your BOI” link: https://www.youtube.com/watch?v=GydCvfbKxPw
- IL Secretary of State BOI Link: https://www.ilsos.gov/departments/business_services/boireport.html
NIU MBA Capstone Program:
Innovation DuPage is once again partnered with Northern Illinois University for its MBA Capstone program. The program has helped several ID businesses in the past with formalized, comprehensive Business Plans developed by 4-6 MBA students. The current program begins October 21st, and there is an open slot available for a qualified ID company to participate. Please contact Dan Facchini or Ed Buckley from NIU directly at 847-778-6960.
Youth Initiatives:
Do you know a high school or college student interested in starting their own company someday? The E2 Emerging Entrepreneurs Program is a six-week workshop series designed for high school and college students aged 16+ who are interested in entrepreneurship. Starting October 9th and running until November 13th, the program covers essential topics such as entrepreneurship basics, mindset development, market analysis, legal issues, sales and marketing, and financial management. Taught both in-person and online by local start-up founders and innovators, E2 offers a hands-on, informal learning environment with no grades or exams. The course fee is $25, with scholarships available. Apply here
by October 1st!
Interns:
- For the 5th year in a row, Innovation DuPage is rolling out our InternPlus Program! This initiative connects our members with talented College of DuPage students for paid, professional positions. ID members get the subsidy by having to pay only half the cost of minimum wage, so instead of paying $15 and hour, a member only pays $7.50, and ID picks up the other half. Those interested should fill out the application and submit job descriptions here, by September 27th.
In addition to the InternPlus Program, Innovation DuPage members have an opportunity to collaborate with exceptional high school students from the Illinois Science and Math Academy (IMSA). These interns are available once a week to assist with your projects at no cost. Currently, these internships are conducted remotely, but with sufficient interest from ID members, IMSA may consider on-site arrangements at Innovation DuPage. Please note that while IMSA will strive to match students with projects, there are no guarantees of placement. Apply here and mention your ID membership by September 25th.
Coming Up:
- Public Relations Workshop, 09.25: Are you producing exceptional work, but struggling to reach your target audience? Join us at ID for our next workshop hosted by Marcella Raymond. In this hands-on session, you'll discover how to identify and showcase the most promotable aspects of your business. Learn the art of crafting compelling press releases and pitches that capture media attention. Gain insider knowledge on matching your story with the most suitable news outlets and reporters. Throughout the workshop, you'll have the opportunity to brainstorm and refine your ideas with expert guidance. To secure your spot, click here.
- NaperLaunch Academy: Starting a Business, 09.25: During this four-week series, attendees will learn to develop their business concept, develop a unique value proposition and determine funding strategies and sources, pricing models and break-even analysis. Participants are expected to attend all four sessions and complete homework assignments outside of class. Spots are limited, register here.
- Member Meetup, 10.02: At our next meetup, Brenda Bickett of Local Glass Studio will present as our Member Spotlight, celebrating her grand opening on October 4th. Jeannie McGrory from WGN Radio will present as our ID Member Resource. We look forward to seeing you there!
- Makers and Shakers, 10.17: Makers & Shakers 2024: Rewriting Our Narrative, scheduled for October 17th, 2024, from 6:00pm to 9:30pm at Brewpoint Craft Elmhurst, is an event for women and minority business owners in the Chicagoland area. Hosted by Melissa Villanueva of Brewpoint Coffee, it features speakers Melissa Villanueva, Pablo Torres Jr (Pablo Wealth Talks), and Angela R. Howard (Call for Culture). The event offers networking, resources, and insights for diverse entrepreneurs, with attendance limited to 150. To secure your spot, click here.
- Women in Business Expo, 10.22: The Wheaton Chamber of Commerce invites you to an engaging Women in Business event, hosted at the College of DuPage Student Resource Center. Learn about love-led leadership with keynote speaker Nicki Anderson, gain insights from a panel on relationship-driven business growth, and network with fellow professionals. Plus, your chance to win a 6-month LinkedIn Premium Membership! Don't miss this evening of empowerment and connections, register here.
- Midwest Innovation and Entrepreneurial Summit, 11.13: The Midwest is renowned for its enterprising spirit, with a rich history of innovation dating back to the 1893 World's Fair. This all-day summit celebrates the entrepreneurial drive that has made greater Chicagoland a hub of innovation. The event will provide resources for aspiring entrepreneurs, showcase success stories of Midwest entrepreneurs, and help educators integrate entrepreneurship into their curriculum. It will also facilitate connections between funders, partners, and the growing suburban incubation/acceleration movement led by Innovation DuPage. Harness the Midwest's ability to "get things done" and empower the next generation of entrepreneurial leaders. To secure your spot, click here.
Sign up to present at an upcoming Member Meetup:
Showcase your business at our upcoming Member Meetup! We're looking for members to present as our Member Spotlight, ID Member Resource, or host a Problem Solving session. This is your chance to present your work, share your achievements, and connect with fellow entrepreneurs. Reach out to IDvermaa@innovationdupage.org and CC IDanushkav@gmail.com to sign up.
Let us help you share your success with the ID community!
Share a win from this week – big or small. It could be featured in our next letter! Email your accomplishment to: IDmaceyh@innovationdupage.org
Reminder: Innovation DuPage is open for members as a coworking space 24 hours a day, 7 days a week!
Many thanks, and have a great week,
Dan Facchini,
Managing Director,
Innovation DuPage