Lackawanna College
Venture Lab T
he Lackawanna College Venture Lab is dedicated to building new businesses in Northeast Pennsylvania.
Launched in 2020, the Lab offers professional services, innovative programs and industry connections in a supportive peer-topeer environment. Part of the Lab’s mission is to serve disadvantaged entrepreneurs to create microenterprises through a lean startup approach. Microenterprises are very smallscale businesses that often provide additional self-employment income for individuals and families. The lean startup approach is based on principles, models and concepts that can accelerate new business launches. Entrepreneurs leverage this approach to overcome many of the normal barriers to starting a business, like finding startup capital. Available services At its home inside Angeli Hall, 501 Vine St., Scranton, the Venture Lab offers a co-working space with free Wi-Fi for up to 15 entrepreneurs, a fabrication center where product developers can print 3D models of their prototypes and in-person or virtual support from the College’s expert faculty members and Lab partners. 44
Entrepreneurs seeking startup funding from $500 to $2,500 can also apply for zero-interest microloans. Loan applications are accepted throughout the year, and the Lab will even help you prepare your application. Focused education Lackawanna College students can pursue a concentration in Lean Entrepreneurship beginning in the Fall 2021 semester. By adding courses in entrepreneurship, ideation and innovation, iterative product design and development, and completing an intense internship that may be completed at the Venture Lab itself, graduates of the business bachelor’s degree program can expand their skills as they prepare to enter the workforce or develop new industries. The lean entrepreneurship concentration is available in addition to the College’s esports, forensic accounting and marketing concentrations available to students in the business division.
“The Venture Lab has helped me focus my intentions into Spastello with knowledgeable guidance and plenty of like-minded entrepreneurs to share ideas with,” Costello said. Following the popular “Rally for Restaurant” series, the College continues to support the regional restaurant community with another Venture Lab future success story. Website and eCommerce developers from the alumni-founded startup Machi-Systems partnered with Lackawanna to develop fully functioning ordering platforms for local restaurants to expand their business online after surviving the pandemic through a grant from the City of Scranton. Restaurants interested in receiving a free website should email venturelab@lackawanna.edu.
“The Venture Lab has the tools and expert advice that aspiring business owners need to make their early plans a reality.”
Building success Entrepreneurs from a variety of industries are already finding success through the Venture Lab. Spastello, a natural skincare product line developed by Lackawanna College business major Courtney Costello, is launching new products, improving sales and finding niche audiences for her brand. Through HappeningsPA.com
industry research assistance, marketing strategy and early adopter feedback, Costello is seeing exciting results.
Develop your dreams The Venture Lab has the tools and expert advice that aspiring business owners need to make their early plans a reality. Visit us at Angeli Hall during the Fall semester to ask about how we can help you or to explore the various business degrees available at Lackawanna College. H August 2021
