Small and medium-sized businesses form over 95% of companies and generate over 60% of the jobs in Arizona. Gopalakrishnan Mohan, senior associate dean of faculty, calls small and medium businesses (SMBs) “the engine of the economy.” When SMBs were being hit hard during the pandemic, he says, it became clear that they needed a lifeline.

Mohan and Hitendra Chaturvedi (pictured above), supply chain management professor of practice, identified a problem: There needed to be a clear way for SMBs to connect to ASU, and they were missing out on critical resources the university could provide. Chaturvedi contacted 30 local SMBs to ask how ASU could help them.

“One of the biggest things we heard was, ‘We have major problems, and right now, we can’t pay for an expensive consulting company,’ ” he says. ‘We would love to brainstorm with some of your faculty.’ ”

Chaturvedi formed a plan with a founding team, including partners on the corporate engagement and strategic partnerships team within ASU’s Knowledge Enterprise, the community entrepreneurship team within ASU’s Edson Entrepreneurship + Innovation Institute, and the community affairs team within ASU’s Office of Government & Community Engagement.

“Let’s bring in a company. Let’s bring in a few faculty, students, and industry experts. And then let’s solve the problem and help them with execution,” he says.

Since 2022, the SMB Lab has convened periodically for brainstorming sessions in which small-business owners present their top challenges to faculty and students, business leaders, and development professionals.

“It was wonderful,” says Tracey Latham, founder and CEO of Latham Industries, an early lab participant. “When you are a small business, you don’t know all the resources out there.”

In addition to continuing to help small and medium businesses to better develop, the SMB Lab will be a part of a portfolio of services offered by the up-and-coming Center for Small and Family Business at the School of Technology, Innovation, and Entrepreneurship on ASU’s West campus. The plan includes certification programs and pathways to higher education for small and family businesses.

Learn more at wpcarey.asu.edu/smb-lab.