New space in downtown Worcester expands ‘experiential lab’ for business students

Editor’s note: The School of Management was renamed the Clark University School of Business on June 1, 2024.

Clark University’s graduate students in the School of Management (SOM) have a new opportunity to use their skills in the real world — as interns with the Small Business Development Center, on campus and in downtown Worcester.

The SOM recently partnered with the Worcester Business Development Corporation (WBDC) to join the Idea Lab, a co-working and accelerator space located at 20 Franklin St. In this location, SBDC staff and interns are able to meet with small-business owners who are unable to come to the SBDC office on the Clark campus.

Students in Clark’s Entrepreneurship and Innovation Program may also use the Idea Lab space to formulate and develop their own ventures.

The SBDC, located at Clark University since 1983, is part of the federally funded Massachusetts Small Business Development Network, which is headquartered at UMass Amherst and includes six centers designed to help small-business owners. The Central Massachusetts center located at Clark is the largest center in the state.

“Just like chemistry or physics students, our business students need a lab to demonstrate their proficiency,” said David Jordan, dean of the School of Management. “They need to be able to demonstrate the skills they’ve learned in their classes. The SBDC serves as a great experiential lab for our graduate students to work with SBDC staff and collaborate directly with small businesses. It’s real work.”

Students assist business owners with developing business plans, securing startup funds, and launching their ventures, as well as scaling established businesses, Jordan said. Students from all SOM programs —management, accounting, marketing, finance, business analytics, and more — are involved.

Also using the Idea Lab space is the Clark Consulting Group, a student-run organization created to give SOM students opportunities to work with local businesses. The group has been dormant for several years but has been resurrected this year, and its members have been collaborating with SBDC staff to provide market research, business planning, financial analysis, marketing strategies, operations support, or technology implementation to small business owners who are growing their ventures, overcoming challenges, and adapting to changing market conditions.

Parimala Yerraguntla, M.S. ’25, is a member of the Clark Consulting Group. “Working with real clients and business owners lets us apply our classroom knowledge to real-world scenarios while we’re still pursuing our degrees,” she said, noting that the work helps sharpen skills and provides a better understanding of the business world.

“The combination of academic coursework and practical experience provides a well-rounded education in business management,” said Aaryan Pankaj Dabhade, M.A. ’25, who is also a member of the Clark Consulting Group.

“I believe the Clark Consulting Group is going to make a huge impact in the Worcester business community by engaging with small business owners through the SBDC and Idea Lab,” Yerraguntla added. “By offering expertise, guidance, and resources, we contribute to the growth and sustainability of local businesses — which can lead to job creation, increased economic activity, a more vibrant entrepreneurial ecosystem in Worcester, and business owners who are empowered with greater passion.”

Dabhade added that SBDC, Clark Consulting Group, and Idea Lab services are perfect for individuals who have an idea and skills but don’t know how to create a business. “We can offer strategies and technical support to make their dream a reality.”

The Worcester Idea Lab space includes conference rooms where SBDC staff and interns can meet with business owners.

The downtown location brings the SBDC — and SOM — to “where the businesses are,” Jordan said. “It’s convenient for business owners, particularly those who might not feel comfortable on a college campus.”

Tom Herald, regional director of the SBDC at Clark, said he is excited about the expansion to the Idea Lab. “It showcases the collaboration between the SBDC, School of Management, Worcester Business Development Corporation, and city, state, and federal governments. It is the essence of a community working together to grow the local economy.”

Working with SBDC staff and business owners at the Idea Lab is an extraordinary opportunity for students, Jordan said. “It gets them into the community — and I can’t emphasize enough how important that is.”