Steve Young inspires entrepreneurs at start-up incubator iHub’s grand opening

Nearly a thousand people walked through Utah’s latest nonprofit start-up incubator, The Innovation Hub — or iHub for short — on Wednesday to celebrate its grand opening. Based in Provo, iHub’s purpose is to help young entrepreneurs with the challenges of starting a business.

Guests could interact with as many as 60 companies, all budding start-ups currently being mentored at iHub, showcasing their products and services.

A range of the companies showcased:

• Resumake : Like a dating app, but for job seekers. Employers can evaluate a person’s application and resume at no cost before deciding. You only pay for the candidates you’d like to interview.
• SPOT Parking : An AI-powered parking and tracking system to identify parking violations and make life easier for those who have paid parking permits.
• Your Life Legacy : A videography company that creates preservation documentaries about your loved ones while they’re still alive, so their memory lives on.
• Girlyish Skincare : A brand that encourages young girls to develop healthy skincare routines through a safe and easy-to-follow daily regimen.

Because of Utah County’s unique culture, iHub Managing Director Corbin Church said the start-up incubator’s location is both an asset and an advantage.

“The young adults (here) are exceptional. They’ve been knocking doors, whether it was for summer sales or for missionary work. They’re getting rejected. They’re overcoming very difficult things that most young adults their age would curl up and cry,” he said Wednesday. “And so we’re working with entrepreneurs that have the metal, that have the personality and the traits to do big things.”

Turning dreams into plans

As the keynote speaker of the event, former BYU and NFL football star Steve Young, who is an entrepreneur and investor, shared his insights into how he attained his success. When Young shared his childhood dream of being a famous athlete with his dad, his father said, “Steve, dreams are great. Every human being should have a dream, but you should also have a plan, because dreams are like a less than 1% chance (of working out.) A plan has an 80% chance.”

On one hand, Young held onto and worked at his dream of being a pro football player, and on the other, he planned to attend college and get into law school like his father.

“It gives life to a dream yet moves you along,” Young added. “Because so many of us drag our dreams around, thinking that’s my plan, and it’s not a good plan. Less than 1% chance it’s not a good plan.”

Even while he found massive success during his 15-year career as an NFL player, winning three Super Bowl rings, he attended classes at Brigham Young University’s law school. After winning one of the Super Bowls, he said he flew back to San Fransisco, did the celebration tour with fans, went to the airport, and was in class at BYU the next day.

“So you entrepreneurs that are willing to try to develop a dream into a plan, I’m all for it. But also in your mind, keep cultivating what could be an 80% chance in your life,” Young said. “Carry a dream and a plan.”

Former Utah Gov. Gary Herbert also spoke at the grand opening, highlighting the significance of setting goals, implementing tax reforms, and reducing regulations as key factors in Utah’s economic success. He explained how Utah evolved from an underperforming economy when he entered his governor role to a prosperous one by creating a business-friendly atmosphere.

He acknowledged that the U.S. is often defined as having an entrepreneurial mindset that, as Americans, we should “appreciate free market capitalism, that unique risk-reward, but that we have and take often for granted.”

However, he added, “Utah’s been a great example of being the gold standard.”