BUDA — Innovative individuals, business owners and entrepreneurs alike will soon get a new resource that they can utilize in the city of Buda.
The Buda Economic Development Corporation (EDC) is launching the HIVE — Home for Innovators, Visionaries & Entrepreneurs — that will serve as an entrepreneurial hub, offering collaborative workspace and resources to foster economic development and help early-stage startups succeed in Central Texas.
The program is geared to reflect the corporation’s dedication to supporting business growth from launch to scale; entrepreneurial support organizations like this play a crucial role in regional development. Statistics indicate that businesses supported in incubators, like the HIVE, have a success rate of 87% after five years, compared to only 44% for businesses without
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‘We wanted to create a one-stop shop, basically, for these businesses to come, whether they're in Buda or around Buda, and get the support they need in order to succeed, scale and grow.’
— Shannon Frost this kind of support, explained Shannon Frost, assistant director of entrepreneurial initiatives at Buda EDC.
The need for this type of program for individuals, business owners and budding entrepreneurs was found when Buda EDC discovered that many would leave Buda to go elsewhere to get support.
“When I first started [at Buda EDC], my first job was getting out and supporting businesses. [I would] see what they needed and see what their needs were. A lot of them were coming to us and they wanted to launch their business and they didn't know how, so they were asking what resources the city had. Most of the time, if someone wanted to start their business, I would give them the [Small Business Development Center]. SBDC was at Texas State and now, they are in North Austin,” Frost said. “I realized that we were having these businesses, who are here in Buda, leave Buda to get the support. We wanted to create a one-stop shop, basically, for these businesses to come, whether they're in Buda or around Buda, and get the support they need in order to succeed, scale and grow.”
Several people have been coming back since the COVID-19 pandemic, Frost said, with the idea that they want to start their own business, as during that time, everything was disrupted.
“Things had to close and I think the economy has gotten a little bit better. People feel a bit more confident and they want to go out there and start their business. We've had tons of people come to us in the past couple of years wanting to start it,” she said. “Austin has also really blown up, obviously, in the last decade and we have seen, obviously, a lot of growth here in Hays County. We've been wanting to support that growth, especially here in Buda, and helping those local entrepreneurs grow their business helps our economy here in Buda.”
With doors opening in spring of 2025, the Buda EDC purchased and is renovating a house in the city’s historic downtown area to house the HIVE.
“We wanted to be centralized. When you go downtown, you go to Meridian, you go to Nate’s, you go to Summer Moon, you'll see a lot of people working. They've got their laptops open,” Frost said. “We know that a place being downtown is the spot where entrepreneurs want to collaborate. When you're working, you want to go and grab a coffee, you want to go to dinner, you want to have a meeting, so having a centralized location is definitely a benefit for us.”
The reimagined space will feature two core tracks at no cost, as well as a co-working option:
• Incubator Track is for individuals with innovative ideas who need to fully develop a business model or product.
• Accelerator Track is for startups and small businesses looking to grow, scale and make a regional impact.
• Coworking is for entrepreneurs looking to feel the buzz of working near other businesses for a nominal fee.
The HIVE is a two-year pilot; therefore, Frost said that the Buda EDC is wanting to make sure that the businesses who come in scale, grow and then move on to even further successes.
“I'm hoping that we see businesses who want to open up here in Buda foster those connections and feel that this is where they want to be. I think Buda will become an entrepreneurial hub more than it has in the past,” Frost explained. “This is a time where businesses can come to Buda, just south of Austin, between San Antonio and Austin. It's an easy place for people to commute. I think it will show Buda as a place where entrepreneurs can be creative and it can be resilient together in a hive.”
Buda EDC is now accepting entrepreneurs, business mentors, coworkers and subject matter experts to participate in the HIVE. Those interested can learn more and join the HIVE waitlist at www. BudaEDC.com/HIVE.
