GEORGETOWN’S MCDONOUGH SCHOOL OF BUSINESS AND AMERICAN FARM BUREAU FEDERATION COLLABORATE ON RURAL ENTREPRENEURSHIP

Partnership Focuses on Encouraging Innovative Business Ventures to Help Strengthen Rural America Washington, D.C. – The American Farm Bureau Federation (AFBF) and The Georgetown University McDonough School of Business Global Social Enterprise Initiative (GSEI) today announced a partnership to help strengthen rural America. The multi-year collaboration will address solutions to building greater economic opportunity and security for those who live in rural communities, starting with a program involving the Georgetown Entrepreneurship Initiative to advance rural entrepreneurship. The GSEI, Entrepreneurship Initiative, and AFBF collaboration kicked off today at the AFBF annual convention in San Antonio with remarks by U.S. Department of Agriculture Secretary Tom Vilsack and AFBF President Bob Stallman In comments, Vilsack credited the effort as a private, collaborative way to help spur entrepreneurial spirit that will lead to small business creation in rural America. “It creates a sense of entrepreneurship so that you have investors and entrepreneurs looking for opportunities to start businesses in rural areas,” Vilsack said. “The program dovetails with what we are doing at USDA– trying to educate investment banks and investors about the opportunities to invest in rural opportunities.” “It’s often said that farmers are this country’s original entrepreneurs,” said Stallman. “Our partnership with Georgetown is dedicated to giving them and other leaders in rural communities nationwide both a forum and the practical means to brainstorm, strategize and bring their inspirations to fruition and, ultimately, strengthen their communities.” “The Global Social Enterprise Initiative is focused on developing business solutions that deliver both economic and social value,” said Bill Novelli, distinguished professor of the practice at Georgetown McDonough and former CEO of AARP. “Together with AFBF and our Entrepreneurship Initiative, we will reach out to rural communities – a vital part of America particularly hit hard by the recent recession – with tools and initiatives that fuel their innovative spirit and drive.” Initial components of the rural entrepreneurship program on which AFBF and Georgetown will collaborate include: • Rural Innovation Challenge to provide an opportunity for rural entrepreneurs to showcase their ideas and business ventures in a collegial, yet competitive environment, and to receive mentoring and recognition; • National summit on rural entrepreneurship that convenes thought leaders in rural economic development, public policy, and entrepreneurship to discuss barriers and solutions to increased business development in rural areas; • An online rural innovation hub that highlights stories of rural entrepreneurs’ experiences, learning, and successes, and serves as a virtual meeting place for individuals to share information; and • Training workshops and webinars that give business tools and guidance in areas such as market research, concept and product development, pitch development and fundraising techniques, marketing, and more.