The fifth floor of Buchanan Hall could become Iowa State’s small business hub starting next fall.

The Entrepreneur and Innovation Learning Community will be the first learning community at Iowa State targeted at students interested in starting their own businesses. The floor will be home to 35 students selected by a committee of students and faculty.

The learning community will serve two main functions, said Judi Eyles, program coordinator for the Pappajohn Center for Entrepreneurship. The first would be to create a supportive environment for students studying entrepreneurship, and the second would serve as an on-campus resource center for students, faculty and alumni, she said.

“Students who are interested have to go off-campus for resources,” she said. “This will allow us to build the program, to be visible on campus.”

Last fall, the university set up a steering committee for the learning community to determine student interest and possible locations. The committee includes a mix of both faculty and students, Eyles said.

In order to gauge student opinion on the subject, the committee set up a handful of focus groups with students from all colleges. Eyles said the committee was left with the impression that students from all colleges were very interested in the community.

Students close to the program were excited about the center.

Rachel Crane, senior in art and design and president of the ISU Entrepreneur Club, said learning communities for other subjects have been effective.

“I think it’s a good idea for people who share the same ideas,” she said. “They would be getting a lot from the community they’re in.”

The idea came from ISU President Gregory Geoffroy, Eyles said. His experience at the University of Maryland included working with a similar entrepreneurship program, she said.

“He really pushed for it,” she said. “He had the idea to create the program, and we pursued that.”

Labh Hira, dean of the College of Business and member of the steering committee, said the community will be invaluable to students because it will foster support between peers.

“It will be a living environment,” he said. “The students will be there to give each other strength.”

Although specific details on the involvement of the community have not been determined, the current main focus will be to gather creative students from all majors, not just those in business, Eyles said.

“We think it will have something to offer everyone,” she said. “There are creative people who may not think they have a business idea, but have a good product already.”

Those interested in the program would have to show a determined interest on the subject, Eyles said.

The first year would be considered an evaluative year to determine how the community should function and what programs are effective, Eyles said. Three subcommittees have already been formed, consisting of both faculty and students, to study and determine the use of the physical environment, academic programs and program development.

While faculty will likely help in the creation of the community, Eyles said most direction will come from the residents.

Edwin Banini, junior in management, said the community will go beyond just teaching students the aspects of new businesses.

“It’s a closer venue to help students interested in starting their own business while studying,” he said. “I know I’ll spend a lot of time there.”