The Australian Centre for Rural Entrepreneurship already has 11 schools and more than 350 students coming up with their own ideas to make money for communities and social causes.

ACRE executive officer Matt Pfahlert was emotional to the point of tears at Friday’s official launch of the initiative.

“It is an exciting day because it’s a very, very interesting time in our world,” he said.

“We as elders in communities need thing think about the role we play and that’s really what ACRE is all about.

“It is the purpose of building rural communities that can thrive through igniting entrepreneurship in young people.”

Mr Pfahlert said long-term unemployment had tripled since 2007, up to 20 per cent in rural areas, but there were growing opportunities in technology, globalisation and flexibility of work.

He said businesses had started to see benefits in social entrepreneurship.

“Business people with really smart commercial acumen understand that those community organsiers in our towns – you know those people can can ring five people and organise a festival – those people actually have huge currency in our community,” Mr Pfahlert said.

Indi incumbent Cathy McGowan cut the ribbon and declared herself ACRE’s first patron.

“The thing I most miss about politics is not being in business,” she said.

“In my teenage years I had that sense of being a bit of a cactus, they were prickly and didn’t quite belong.

“As I grew into my own self, and particularly through business, I was able to bloom, I was able to find the place where I belonged.”

The MP said she was proud ACRE could run out of Beechworth, the town where she went to school.

“I want to wish this good ship well, I hope she sails for a long time,” Ms McGowan said.

“I want it to help make Beechworth the star that she already is and grow out to the communities around us, local government around us and business around us and actually feed on the nurturing that you’re going to give us in the future.”