Steve Franks

By Hillary Knipstien | Photo by Zack Kittaka

For more than a decade, Steve Franks, program manager at the Farnsworth Fund, has championed entrepreneurial efforts in Northeast Indiana. He has also coached entrepreneurs at the Northeast Indiana Innovation Center, started a coworking space, ran several venture accelerators, and worked as an innovation consultant. He has also served non-profit organizations dedicated to serving entrepreneurs.

How does the Farnsworth Fund impact entrepreneurs?

The Farnsworth Fund supports founders--through both building community among those in the entrepreneurial space or making micro-grants to selected founders. Additionally, it brings together a network of resources to help founders find mentorship, support and encouragement.

What do you consider characteristics of a successful entrepreneur?

“No one is born an entrepreneur. You have to practice.” Franks advised.

Still, he has identified some common attributes of successful founders: engagement with the venture’s potential customer base from an early stage, curiosity, finding bold ideas and taking action on them, and being willing and able to adjust efforts to obtain the desired results.

What changes have you seen in Northeast Indiana in the start-up space?

Franks is pleased with the growing velocity of entrepreneurship throughout Northeast Indiana, along with the awareness that entrepreneurs are vital to the community’s well-being. He also notes that the region has made strides in providing visible, tangible support for entrepreneurs — from increased opportunities for informal networking to organizations dedicated to supporting the launch of new ventures.

What resources would you recommend to a female founder in our community?

Franks recommended connecting with Own Your Success and the Women’s Entrepreneurial Opportunity Center.

Any advice for budding entrepreneurs?

Don’t give up on a big idea just because you don’t know exactly how to do something or lack a certain skillset. There’s never been a better environment for learning. “In today’s age, I almost defy you to not be able to learn something on the internet. And for free,” Franks encouraged.

He also suggested plugging into the entrepreneurial community for support and locating like-minded people, or even to help find a connection to a co-founder with a certain skillset. If your idea is in a certain industry, try working in that industry to gain relevant knowledge.

Above all, Franks advocated for a combination of curiosity and action. “Go start something. Go engage. The biggest thing is to be active and curious, to see problems and things you think can be improved. The entrepreneurs will learn about the problem and start to do something about it.” a

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