March 3, 2021 8:57am
Greater Louisville Inc. Launches Minority Business Accelerator in Partnership with Interise
Louisville, Ky. (March 3, 2021) – Greater Louisville Inc. (GLI) is continuing its commitment to inclusion and the advancement of minority-owned small businesses and professionals in the region through the launch of a new initiative, the Power to Prosper Minority Business Accelerator, powered by Interise. The program is designed for minority, small business owners who want to take their business to the next level within the region. This cohort style program will begin April 2021, and the application portal is live now.
“We are thrilled to partner with Interise, a national leader in this work, to bring a proven model for growth to our region’s minority-owned businesses,” said Sarah Davasher-Wisdom, President and CEO of GLI. “GLI’s Power to Prosper Minority Business Accelerator builds on our commitment to creating equitable opportunities to build wealth in our region. This program will fulfill an important need in our business community by helping our minority-owned businesses scale and grow their operations through training in key areas like finance, human resources, and marketing.”
The foundation for this program lies in Interise’s StreetWise ‘MBA’™, a nationally recognized, award-winning curriculum designed to accelerate the growth of existing small businesses. The StreetWise ‘MBA’™ uses a peer-learning method to provide small business owners with the knowledge, know-how, and networks necessary to grow and scale. Industry experts, business peers, and the program’s instructor provide insights, strategies, motivation, and accountability. At the end of the program, participants walk away with a vetted individualized three-year Strategic Growth Action Plan™ outlining the action steps required to achieve their business goals.
Valued in excess of $15,000 per student but provided free of charge, GLI’s Power to Prosper Minority Business Accelerator will provide participants with the tools to advance their business operations, financial management, marketing and sales, human resource tactics, business strategy development, access to capital, and contract development.
“It has never been more important to support our small, minority-owned businesses,” said Dana Johnson, Senior Director of Diversity, Equity, and Inclusion at GLI. “These businesses are an important part of our regional economy and unique culture, and we know they have often faced barriers in growing their businesses. After all our community has endured in the past year, we are proud to be able to offer this opportunity to help ensure minority-entrepreneurs are empowered with the tools to expand their businesses.”
GLI’s Power to Prosper Minority Business Accelerator is a part of the NOW Louisville strategic plan, which outlines inclusion as one of six pillars of focus over the next five years. The program is funded through generous contributions from companies across the region who continue to commit to advancing racial equity within the region.
“The launch of this program highlights the Louisville business community’s commitment to pursuing and supporting racial equity in all forms,” said Condrad Daniels, President of HJI Supply Chain Solutions and Chair of the NOW Louisville Inclusion Pillar. “As we crafted this plan, we recognized GLI was uniquely positioned to address a specific need for minority-owned businesses in our community. This program will ensure continuity of resources for businesses throughout their development.”
This initiative is intended to work in coordination with existing community incubators and accelerators to address current gaps and ensure businesses and entrepreneurs at all stages have resources to grow.
“We are thrilled to partner with Greater Louisville Inc. to support minority small businesses as they work to increase capacity and scale,” said Darrell Byers, CEO of Interise. “Our research shows that when small minority-owned businesses increase their proficiency, the community grows stronger and we can expect impressive results in terms of job creation and revenue growth.”
Applications are open now through April 12. The program will accept 15-20 initial participants and is geared toward mid-sized minority-owned businesses with a minimum of $200,000 in annual revenue, and at least one non-owner employee on the payroll. After a deep dive into the makeup of businesses in the community, the original revenue threshold was lowered to $200,000 to allow broader participation for local businesses. Finalists will be asked to participate in an interview screening process before being accepted into the program. To learn more about GLI’s Power to Prosper Minority Business Accelerator and apply for the program, click here.
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About Greater Louisville Inc.
Greater Louisville Inc. (GLI) – the Metro Chamber of Commerce is focused on growing the regional economy. As the region’s largest convener of business leadership, GLI leads economic and global outreach strategies focused on business attraction, nurtures the entrepreneurial eco-system, and champions the development of the community’s talent base. Additional strategic efforts focus on diversity and racial equity to help build a more inclusive economy. As the voice of Greater Louisville’s business community, GLI advocates for a pro-business environment and facilitates businesses engagement on issues that impact regional competitiveness. GLI is the 2019 national Chamber of the Year and is one of only three percent of chambers nationally certified with 5-star accreditation status by the U.S. Chamber of Commerce, based on GLI’s dedicated policy efforts, effective operations, beneficial programs and overall positive community impact. Learn about our investor benefits and connect with us on Facebook, Twitter and LinkedIn using @GLIchamber or visit www.GreaterLouisville.com.
About Interise
Interise builds an inclusive economy through small business development, supporting the growth of minority-owned small businesses and small businesses located in low- and moderate-income communities. Interise’s award-winning StreetWise ‘MBA’™ uses a peer-learning method to provide business owners with the knowledge, know-how, and networks necessary to grow and scale. As Interise companies grow, they contribute to local job creation and build community wealth. Interise companies historically create new jobs at 5x the rate of the private sector, and are responsible for the creation of over 30,000 new jobs. Interise partners with government agencies, anchor institutions, and business associations to make locally branded StreetWise ‘MBA’™ programs available in 75+ cities, nationwide. Strategic Growth Partners include the Kauffman Foundation, the Surdna Foundation, and the Prudential Foundation. More information can be found at http://www.interise.org/ @StreetWise_MBA and at http://www.facebook.com/Interise