The Nasdaq Entrepreneurial Center, a nonprofit organization, has announced a new initiative in Northwest Arkansas that brings together two complementary goals: helping early-stage businesses access the mentorship and guidance required for growth, while providing college students with paid, practical work experience at those same companies. The two-year initiative is being implemented in collaboration with the University of Arkansas Office of Entrepreneurship and Innovation and Northwest Arkansas Community College (NWACC).

With primary support from the Walton Family Foundation and additional funding from the Wells Fargo Foundation, the initiative aims to develop a scalable model that other communities across the United States can adopt. By connecting emerging businesses with student talent, the program seeks to transform the region's entrepreneurial activity into sustained economic development and further strengthen Northwest Arkansas's reputation as a center for innovation and entrepreneurship.

Many young companies face challenges in accessing experienced mentors, professional networks, and the knowledge necessary to expand. At the same time, college students in the region may find it difficult to identify meaningful entry points into the innovation-driven economy. These challenges are interconnected: startups need capable talent, while students need opportunities to gain relevant experience and build professional relationships.

For the first time, the Nasdaq Entrepreneurial Center is combining two programs that it has previously operated independently. Milestone Circles provides early-stage founders with structured coaching, peer support, accountability, and collaborative learning. Startup Intern Match, meanwhile, connects college students with early-stage companies through paid internship opportunities.

Participating startups will take part in both programs at the same time. Through Milestone Circles, founders will receive onboarding, preparation, and coaching before their interns begin, enabling them to establish the processes and expectations needed to make effective use of student talent. Over the two-year grant period, the initiative will serve four founder cohorts comprising 70 startups and provide paid internship opportunities to 140 students.

Milestone Circles in Northwest Arkansas
Milestone Circles is a peer-based CEO development program designed for founders of early-stage companies. Participants receive structured coaching while learning from fellow entrepreneurs, establishing accountability, and sharing practical experiences.

Four cohorts will be conducted during the two-year initiative, collectively serving 70 early-stage businesses. Each cohort may participate in as many as 16 in-person sessions covering onboarding, peer accountability, coaching, learning activities, and a final graduation.

The initiative has established several targets for the grant period. These include an average revenue growth of at least 10% among participating companies that generate revenue, a combined minimum of $500,000 in newly raised capital, and the creation of at least 30 new jobs.

The Northwest Arkansas program forms part of the Nasdaq Entrepreneurial Center's broader national Milestone Circles initiative. To date, the program has graduated 8,381 founders from 17,839 applications. During 2025, it provided 5,267 hours of technical assistance through 238 program experiences, while participation is expected to exceed 9,000 founders in 2026.

Startup Intern Match in Northwest Arkansas
Startup Intern Match will provide paid internship placements for students from the University of Arkansas and NWACC. Four student cohorts will participate over the two-year period, with the University of Arkansas Office of Entrepreneurship and Innovation taking the lead on the student-facing component of the program.

Interns will receive $15 per hour and work 10 hours each week for a 12-week placement. Participating startups will simultaneously complete Milestone Circles, allowing them to receive coaching and establish appropriate onboarding processes before their interns join the company. A total of 140 students are expected to receive internships during the grant period.

The Nasdaq Entrepreneurial Center has extensive experience facilitating startup internships. In its most recent collaboration with Lehigh University, the Center placed between 80 and 120 students into startup internships each semester. Interest from startups has been significant, with more than 4,150 companies having requested interns to date—approximately 32 times greater than the program's current capacity.

The two programs will conclude with a shared graduation ceremony, along with recognition at Nasdaq Tower in Times Square. Matt Waller, a local advisor and former dean of the University of Arkansas Sam M. Walton College of Business, will contribute regional expertise and help build relationships within the local entrepreneurial community while facilitating Milestone Circles in Northwest Arkansas.

Statements from Program Partners
"Northwest Arkansas has become a dynamic center for innovation and entrepreneurship, and we are delighted to work with the Walton Family Foundation to build on that momentum," said Nicola Corzine, CEO and Founding Executive Director of the Nasdaq Entrepreneurial Center. "By bringing Milestone Circles and Startup Intern Match together, we can create meaningful and enduring relationships among students, startups, founders, mentors, and the wider Northwest Arkansas community."

Brent Williams, dean of the Sam M. Walton College of Business at the University of Arkansas, said the university's Office of Entrepreneurship and Innovation is focused on providing students with experiential learning opportunities that expose them to real business challenges, entrepreneurs, and emerging companies.

"We are pleased to collaborate with the Nasdaq Entrepreneurial Center and Northwest Arkansas Community College through Startup Intern Match," Williams said. "The initiative will broaden students' access to startup environments while helping strengthen the region's emerging talent base."

Dr. Chris LaFata, dean of Business and Computer Information Systems at Northwest Arkansas Community College, emphasized the value of combining academic learning with practical experience.

"This partnership gives students an opportunity to apply what they learn in the classroom through paid, real-world work at startups throughout Northwest Arkansas," LaFata said. "The experience will help students develop valuable skills, establish professional connections, and prepare for successful careers."

Matt Waller, professor at the Sam M. Walton College of Business and facilitator of Milestone Circles NWA, highlighted the importance of peer relationships for entrepreneurs.

"Northwest Arkansas has many determined and ambitious entrepreneurs," Waller said. "What founders often need is a community of peers who are willing to challenge their assumptions, ask difficult questions, and provide accountability. That is the role Milestone Circles is designed to play."

Yee-Lin Lai, senior program officer for the Walton Family Foundation's Home Region Program, noted that entrepreneurship can be an isolating experience.

"Building a company can be a lonely journey," Lai said.

"Milestone Circles will give Northwest Arkansas founders access to peers and mentors who can help them overcome challenges and pursue growth. At the same time, startup internships will provide students with hands-on experience while helping develop the next generation of entrepreneurial talent in the region."

Recent findings from Registered Agents Inc’s latest Business Formation Report shed new light on where entrepreneurs across the United States are choosing to launch ventures and how state-specific factors may be influencing those choices. Reviewed by Expert Consumers, the analysis looks at business formation trends alongside tax policies and regulatory conditions that can shape startup decisions.

In February 2026, the report recorded 528,915 new business registrations—up 12% compared to the same month last year, despite a 9% decline from January. The month-to-month drop reflects typical seasonal patterns, while the annual growth signals continued entrepreneurial momentum even amid changes in the labor market.

Entrepreneurship Gains Momentum as Job Market Tightens
Recent data highlights an ongoing trend: as hiring slows and layoffs rise, more people are exploring self-employment as an alternative.

Registered Agents Inc tracks early-stage business activity across all 50 states and Washington, D.C., capturing the moment entrepreneurs file formation documents with state authorities. This early-stage data is often seen as a barometer of economic sentiment. The February increase indicates that, despite employment uncertainty, many individuals are still pursuing business ownership.

State-Level Differences Reveal Diverse Business Climates
The report points to notable variation among states in both total formations and growth rates. Florida led with 69,531 new businesses—the highest monthly figure on record—reflecting a 21% increase year over year and reinforcing its appeal as a startup hub.

Large states such as California and Texas continued to see high volumes, though both experienced month-to-month declines in line with seasonal trends.

While most states saw reduced activity from January to February, a few stood out. Montana and Idaho posted month-over-month increases of 20% and 17%, respectively—growth that aligns with longer-term population increases in those regions.

Key Insights from February 2026 Data:

These variations underscore the role of local conditions—such as regulatory frameworks, operating costs, and tax structures—in influencing where businesses are established.

Tax and Policy Factors Continue to Shape Decisions
While formation figures alone don’t explain why entrepreneurs choose certain locations, they offer useful direction when considered alongside policy environments. States with efficient registration systems and stable regulations tend to attract more consistent business activity. On the other hand, slower growth or declines may prompt closer scrutiny of tax policies, compliance requirements, and administrative processes.

The report’s state-level breakdown provides valuable insight for policymakers, analysts, and entrepreneurs seeking to understand regional economic dynamics.

Formation Trends Signal Economic Confidence
Unlike federal datasets, Registered Agents Inc tracks all state-level business filings, including those that may not proceed to obtain an Employer Identification Number. This approach offers a more immediate snapshot of entrepreneurial intent.

Because it captures activity at the point of formation, the data serves as an early indicator of confidence in the economy. February’s figures suggest that, despite short-term fluctuations and labor market pressures, interest in starting new ventures remains steady.

As small businesses continue to play a vital role in local economies, these monthly trends offer a clear view of how individuals respond to evolving economic conditions—and how state environments can either encourage or limit new business growth.