Explanation
This ordinance authorizes the City Clerk to enter into a grant agreement with the Urban Business Development Center, dba Urban Investment Group (The U) to support the organization’s Urban Launch School small business accelerator program.
The U was established in 2019 with the goal to become the front door for entrepreneurs of color aspiring to create and build sustainable small businesses. Their mission is to close the educational, resource, and digital divide for urban and lifestyle entrepreneurs while eliminating the fragmentation of access to all the above. Their approach to closing these divides is by helping foster the development of a thriving, culturally competent Entrepreneur Support Ecosystem. The U is a safe space where urban entrepreneurs can operate above systematic barriers to gain resources, education, and tools to build and sustain their businesses. The U works to bridge the access gap by ensuring awareness of resources, providing education, collaboration, and engagement for black and brown owned start-ups and lifestyle businesses.
The Urban Launch School program is a 10-week accelerator for black and brown entrepreneurs. A spring accelerator and fall accelerator are planned for 2022, with an anticipated 10-15 graduates from each semester’s program. The 10-week program walks participants towards a business launch, culminating in a pitch competition and micro-grant awards. In addition to the curriculum, participants are provided with branding and logo design support, legal support as needed, one-on-one business plan development services, and confidential peer group sessions.
The support of Columbus City Council will provide for micro-grants to the winners of the pitch competition, as well as providing general programmatic support.
Fiscal Impact: Funding is available within the Job Growth subfund.
Title
To authorize the City Clerk to enter into a grant agreement with the Urban Business Development Center, dba Urban Investment Group,...
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