Category: Careers & Connections

On Tuesday, March 10, the Lacy School of Business hosted the inaugural Indiana Entrepreneurship Through Acquisition (ETA) Indy Conference, drawing over 350 entrepreneurs, operators, investors, advisors, lenders, and community partners from across Indiana and the broader Midwest.

With 40 speakers and two tracks of programming running from morning through evening, the event marked a milestone for a region full of legacy businesses, founders nearing retirement, and a rising generation eager to step into ownership.

From the moment attendees arrived, the energy made one thing clear: Indiana is ready to invest in the future of these businesses.

Before the first session even began, conversations flowed easily – first time searchers exploring their next step, small business owners thinking about transition, and operators reflecting on what it really takes to run a company after close.

The opening keynote by Chelsea Wood of the Acquisition Lab tapped into that shared sense of purpose, emphasizing ETA’s role in preserving the small businesses that anchor communities – businesses that sustain jobs, support families, and form the backbone of local economies. Across Indiana alone, thousands of owners are approaching retirement without succession plans. ETA, as the keynote highlighted, isn’t just about buying companies; it’s about stewarding something worth preserving.

“In Indiana alone, tens of thousands of baby-boomer–owned businesses will change hands in the next decade – many of them in just the next five years. What’s alarming isn’t the volume, but the lack of preparation. Fewer than half of owners have a written succession plan, and nearly half of transitions happen unexpectedly due to health, family, economic stress, or sudden life events,” Nick Smarrelli, director of entrepreneurship, said. “If we don’t build a stronger ETA community now – one that learns together, shares best practices, and connects capital, operators, and students – we risk losing businesses, jobs, and the local legacies that define our communities. The Lacy School of Business has both the responsibility and the platform to help unify this work across the state – not for Butler’s benefit alone, but in the best interest of Indiana’s people, employers, and future.”

Throughout the day, panels, interviews, and hands-on presentations gave attendees a grounded look at the realities of the acquisition journey. Sessions explored how to build a thoughtful buy box, how governments and communities are supporting local ownership transitions, and how buyers can evaluate businesses beyond surface-level financials. Technical discussions on valuation and diligence helped attendees understand the difference between reported numbers and true cash flow, while other panels broke down what it takes to move a deal from handshake to a bankable, legally sound close.

Financing emerged as a defining theme – SBA lenders, debt partners, and advisors offered candid insight into assembling a capital stack for a first acquisition and what makes a searcher stand out as credible. Operators also spoke openly about the emotional realities of ETA, from the uncertainty of the search process to the responsibility of leading a team on day one. Many attendees noted how refreshing it was to hear honest accounts of the first 100 days, culture-building, and the long-term professionalization that comes after closing.

Between sessions, campus buzzed with conversations about deals being evaluated, industries of interest, and opportunities for collaboration. Students asked operators what life looks like after buying a business; advisors shared guidance; lenders made introductions; and owners told the stories behind the companies they built. Those moments – spontaneous, unplanned, and full of possibility – became the heartbeat of the day.

As the final reception wound down and attendees left with full notebooks and new connections, one thing was unmistakable: the conversations begun at ETA Indy will continue – through searches launched, deals explored, and businesses passed thoughtfully to the next generation of leaders. The inaugural conference laid the foundation for a growing community rooted in stewardship, opportunity, and a shared commitment to strengthening the region’s small business ecosystem.

On Friday, February 27, more than 250 students from 17 universities arrived at the 16 Tech Innovation District in Indianapolis for the inaugural Collegiate Entrepreneurs Summit, a statewide gathering created to bring student innovators together, spark new collaborations, and strengthen Indiana’s entrepreneurial network.

The summit was more than an event – it was the result of a multi-organization planning committee led by Butler University’s Lacy School of Business, 16 Tech, CICP, and INtercollegiate Entrepreneurs. For months, these four groups worked together to design a student-centered experience that could bring Indiana’s entrepreneurial community closer and create a truly statewide ecosystem.

What began as a simple idea among a small group of campus leaders grew into one of the largest student entrepreneurship events the state has hosted, marking a significant milestone for both Indiana’s innovation community and for LSB, which served as a co‑host, challenge partner, and event sponsor.

Throughout the day, The AMP at 16 Tech transformed into a hub of activity as students participated in workshops, founder conversations, peer discussions, and hands on sessions that explored the many pathways available to those interested in building, creating, or problem solving.

“It was one of the few spaces where everyone shared the same drive to build something new,” said Preston Asher, a finance and entrepreneurship & innovation double major. “You could walk up to any table and immediately start talking ideas.”

A central component of the day was the Anchor & Accelerate Innovation Challenge. More than 40 intercollegiate teams formed quickly to analyze a structured business problem, develop a market-ready concept, and present their ideas under tight deadlines. The challenge emphasized creative problem solving over polished prototypes, encouraging students to focus on clarity, feasibility, and real world application.

LSB delivered a standout showing. Eight Butler teams participated in the challenge, and LSB students secured both first and second place overall – a major accomplishment given the number of competing institutions. First place was awarded to Jenna Burd and Lily Laffond, whose concept impressed judges for its innovation and practical potential. Second place went to Trevor Storm and Preston Asher, offering Butler a clean sweep of the top two positions and reinforcing the strength of LSB’s experiential learning approach.

“The challenge pushed us to think fast, communicate clearly, and trust our instincts,” Preston said. “Everything we’ve learned at LSB showed up in those moments, and it felt like we were genuinely prepared.”

Lily described the challenge as eye opening, especially around the problem her team tackled. “Our team was tasked with solving the problem of lost tribal knowledge and workforce productivity within the manufacturing sector,” she said. “We created LeanLens, an AI software tool built into industrial grade goggles. Before this, I had no idea that manufacturing makes up 27% of Indiana’s GDP. Given how archaic many systems still are, the industry is well suited for AI disruption.”

Beyond the competition, the summit offered a rare opportunity for students to connect across campuses in a way that had never existed before. For Lily, these conversations became a highlight of the entire day. “I left the conference feeling energized with ideas,” she said. “Talking to students all over the Hoosier state about what they’re building was inspiring. The best part of a network like this is the shared commitment to helping one another succeed.”

She also noted a clear difference in how Butler students showed up: “Given that out of 40+ teams, the top two were from Butler – that’s a testament to the program. One key distinction I noticed was the strong emphasis Butler students place on soft skills and relationship building. Rather than simply presenting financials and metrics, they prioritize building genuine rapport and connecting meaningfully with judges.”

Leadership from INtercollegiate Entrepreneurs – the student run organization that helped spearhead the event – echoed this sentiment, emphasizing the importance of building statewide community rather than isolated campus level efforts. With students attending from Indiana, Illinois, and Virginia, the summit highlighted just how quickly this network is expanding and how crucial collaboration will be in supporting student founders in the years ahead.

“I’ve been watching Butler’s presence in the ecosystem grow – the building of partnerships, the credibility compounding – and the summit was the moment all of it became visible at once,” Iman Noor D. Braham, an MBA candidate concentrating in finance and entrepreneurship & innovation, said.

“Meeting students from other universities was eye opening,” Preston added. “It helped me see how strong Butler’s entrepreneurship culture really is. People kept saying they could tell we were well supported and well prepared.”

Students left the summit carrying new ideas, new relationships, and a stronger sense of what entrepreneurship can look like in any field, whether launching a startup or driving innovation within an existing organization. “I walked away with a better understanding of entrepreneurial storytelling,” Lily said. “Venture capitalists invest in businesses, but they also invest in founders. Being able to articulate my purpose, positioning, and vision is a key differentiator.”

The inaugural Collegiate Entrepreneurs Summit represented the beginning of something larger: a shared effort to empower student founders, elevate Indiana’s entrepreneurial ecosystem, and build a statewide community grounded in collaboration rather than competition.

For Iman, the summit confirmed a broader shift already underway in Indiana. “Indiana is at a genuinely exciting moment,” she shared. “I’ve seen what emerging ecosystems look like in different markets, and this feels like the window where the people showing up now will shape what it becomes.”

“I walked away with more confidence – not just in my ideas, but in the direction Indiana’s innovation ecosystem is heading,” Preston said. “It feels like there’s real momentum, and Butler is right in the middle of it.”