How UCEDC’s Virtual Incubator Program Helps Underserved Entrepreneurs Thrive
Navigating the challenges of small business ownership can be daunting, especially for underserved entrepreneurs. UCEDC’s Virtual Incubator Program (VIP) is designed to help small business owners overcome these hurdles by providing them with the knowledge, tools, and support they need to thrive.
Joe Lamberti, UCEDC’s Director of Training, and Dr. Jairo Borja, UCEDC Training Officer, highlight how the Virtual Incubator Program serves as a vital resource for entrepreneurs, particularly those from underserved communities. Here’s an overview of how the program addresses key challenges and empowers business owners to succeed.
What Is the Virtual Incubator Program?
The Virtual Incubator Program equips business owners with essential skills and strategies to grow their businesses successfully. Key features of the program include:
- Curriculum: Comprehensive workshops that focus on strategic planning, financial management, marketing, and operations.
- Support: Access to expert advisors and a peer network to address real-world business challenges.
Qualifications to Apply:
- Business must have majority ownership by an under-served individual or group of individuals (Asian, Black, Hispanic, LGBTQ, Native American, Native Hawaiian/Pacific Islander, Veteran)
- Business must be located and perform the majority of their operations in New Jersey
- Must be in business for 2 years (forced closure from pandemic does not count)
- Must have been operating profitably, or at break-even, prior to the pandemic
- Must be willing to participate fully in the program as outlined below (failure to fully participate will result in removal from the program)
- Must provide most recent personal tax return, and two years of business tax returns
Why Choose VIP?
VIP is more than just a learning opportunity—it’s a chance to transform your business. The program offers:
- Tailored Learning: Each session builds upon the last, ensuring participants leave with actionable insights that directly apply to their businesses.
- Real Results: Success stories from past participants showcase how the VIP program has helped entrepreneurs navigate obstacles, secure funding, and achieve growth.
“Each session is designed to maximize impact, even for busy business owners,” says Joe Lamberti. “Our goal is to provide practical solutions that drive success.”
Addressing Barriers for Underserved Entrepreneurs
The VIP program focuses on supporting underserved entrepreneurs who often face unique challenges, such as limited access to funding or a lack of business education. Through targeted resources and personalized support, VIP helps break down these barriers and create pathways to success.
UCEDC: More Than Just Training
In addition to the VIP, UCEDC offers:
- Small Business Lending: Loans ranging from $500 to $5 million for small business owners, with an emphasis on supporting under-served people and communities.
- Government Contracting Assistance: UCEDC’s APEX Accelerator offers the expertise to help businesses navigate and secure government contracts.
Most of UCEDC’s services, including training and counseling, are free for businesses.
How to Get Started
Applications for the Winter 2025 session of the Virtual Incubator Program close Monday, January 6, 2025. If you’re ready to take your business to the next level, apply today!