Buda Economic Development Corporation Launches the HIVE: A New Entrepreneurial Support Program

Buda, Texas – November 7, 2024 – The Buda Economic Development Corporation (Buda EDC) today announced the launch of The Buda HIVE— Buda EDC's Home for Innovators, Visionaries, & Entrepreneurs. This new initiative will serve as an entrepreneurial hub, offering collaborative workspace and resources to foster economic development and help early-stage startups succeed in Central Texas.

Buda EDC purchased and is renovating a house in Buda’s historic downtown area to house the HIVE. Construction is underway, with doors opening in Spring 2025. The HIVE program reflects Buda EDC's commitment to supporting business growth from launch to scale. Entrepreneurial Support Organizations like the HIVE play a crucial role in regional development by acting as connectors, conveners, and facilitators within the local ecosystem.

"We saw a growing need to support early-stage entrepreneurs in the area. Statistics show that businesses supported in incubators have a success rate of 87% after five years, versus only 44% for businesses without these supports,” said Shannon Frost, Assistant Director of Entrepreneurial Initiatives at Buda EDC. “After years of supporting Buda businesses with one-off workshops and events, it became clear that Central Texas entrepreneurs need additional full-time support, so the HIVE was born. We are excited to provide them a place to scale and succeed.”

This program will help entrepreneurs at any level by connecting them to the people, programs, and resources they need to thrive. The reimagined space will feature two core tracks at no cost, as well as a co-working option:

Incubator Track is for individuals with innovative ideas who need to fully develop a business model or product.

Accelerator Track is for startups and small businesses looking to grow, scale, and make a regional impact.

Coworking is for entrepreneurs looking to feel the buzz of working near other businesses for a nominal fee.

Buda EDC is now accepting entrepreneurs, business mentors, coworkers, and subject matter experts to participate in the HIVE.

Additionally, those interested can learn more and join the HIVE waitlist at www.BudaEDC.com/HIVE

About Buda Economic Development Corporation

Buda EDC supports Buda, Texas's economic growth and development by fostering entrepreneurship, attracting investment, and empowering businesses to succeed. Through partnerships and innovative programs, Buda EDC aims to create a vibrant local economy that benefits the entire community.

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