ScaleUp America funding for small businesses
Posted by The Enterprise Center on April 18, 2016
The Enterprise Center (TEC) is one of seven new recipients of the U.S. Small Business Administration’s (SBA) ScaleUp America funding. ScaleUp Philadelphia’s aim is to help existing businesses in underserved and underrepresented communities grow, especially those owned by women and minorities. TEC will use the ScaleUp funds to provide six weeks of curriculum plus six months of one-on-one mentoring to 50 small businesses annually in the Greater Philadelphia area. Founders, owners, and executive managers of growth-oriented small businesses, operational for at least two years with sales of $150,000 or more, will be selected for participation through a competitive application process.
Each participant will work with business experts to determine key business opportunities and challenges to establish and achieve individualized business development milestones as part of a three-year growth strategy plan. Participants will also have access to TEC’s in-house Expertise Center, which is staffed by volunteer subject matter experts in human resources, accounting, marketing, law, and finance.
TEC’s robust entrepreneurial education curriculum is based on a “flipped classroom” model, in which participants review online materials prior to receiving hands-on instruction in the classroom. TEC will also offer other intensive services in the form of technical assistance and events to support small businesses poised for growth within the federally-designated Promise Zone and beyond.
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