Much is told regarding the need for greater diversity in the biomedical research workforce in terms of race, ethnicity, and socioeconomic status. However, there are few evidence-based models that are tested and can have significant effects in this regard. Thus, there is a need for development and evaluation of innovative models that may help train a more diverse biomedical research workforce. In this study, we provided the rationale, conceptual model, and preliminary evaluation of a program called “A Student-Centered Entrepreneurship Development (ASCEND)”. This training program was designed, implemented, and evaluated between 2017 and 2020 at Morgan State University, Baltimore, Maryland, United States. The program’s conceptual model is based on four stages: Attraction and Inspiration, Ideation and Innovation, Research Implementation, and Career Growth. Results of the comparative survey between 50 students who participated in ASCEND and 86 non-member controls showed an increase in science identity, academic self-concept, science self-efficacy, and peer support. The only domain that did not show a larger increase in participants in our program compared to controls was social self-concept. In addition, a total of 59 students submitted 48 research concepts, and 16 undergraduate student projects were funded. Of participants in the Health Research Concepts Competition, 39 students graduated, and 13 were pursuing graduate programs in STEM fields at the time of evaluation. The number of research projects and trainees who started a graduate degree were also reported. The ASCEND training model fosters an entrepreneurial mindset among undergraduate students. Such a program might be effective in diversifying the biomedical research workforce. While this preliminary evaluation indicates the efficacy of the ASCEND model, there is a need for further long-term and multi-center evaluations with the trainees’ research productivity and receipt of independent funding as outcomes.