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Virtual Incubator Program

Watch our three-minute video featuring past VIP participants for an overview of the Virtual Incubator Program.

See the program summary below for more details.

Program Summary

Historically, diverse business owners have faced significant obstacles to success. To address these challenges, UCEDC’s Board of Trustees launched the Virtual Incubator Program (VIP). This program supports up to 12 underserved entrepreneurs with education, mentorship, and access to capital to help sustain their businesses in a tough economy.

VIP provides the benefits of a traditional incubator in a virtual setting, including training sessions, group and one-on-one mentoring, and exclusive access to a UCEDC loan program for graduates.

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

Program Process and Curriculum

Training Workshops

  • Week 1:
    Strategic Planning workshop
    Emphasizes application of the SWOT Analysis, to review the fundamental business plan components, then build an effective Business Plan for profitability and sustainability
  • Week 2:
    Organization Structure workshop
    Focuses on establishing the best operational environment, considering combination of employees, vendors, suppliers, and advisors, to establish a smooth operation.
  • Week 3:
    Marketing Strategy workshop
    Reviews fundamentals of marketing strategy and the application of the 4-Ps of marketing, marketing research, and target marketing.
  • Week 4:
    Review & Group Counseling session
    Examples and exercises applying SWOT analysis, improvements to organization structure, and target marketing tactics (applied learning).
  • Week 5:
    Financial Statements Analysis workshop
    Reviews the Balance Sheet, P&L Statement (Income Statement) and Cash Flow Statement, for use in analytical modeling for greater efficiency and profitability.
  • Week 6:
    Cash Flow and Financial Forecasting workshop
    Focuses on making sound sales projections, expense projections, and responsible projections of cash flow.
  • Week 7:
    Review & Group Counseling session
    Examples and exercises for analyzing financial statements and doing financial forecasting (applied learning).
  • Week 8:
    Business Plan Pitch workshop
    Establishment of the “elevator pitch” and business plan summary presentation.

On-going Mentoring

  • Week 9 forward:
    One-on-One Counseling & Mentoring on a monthly basis, as a requirement of the forgivable loan.

    • One-on-One sessions may include the additional assistance of a guest counselor/SME, when possible and where appropriate.
    • Guest counselors may be professionals such as Attorneys, Accountants, Insurance Agents, and Bankers.

Fill out the form below to apply for the next VIP session

Session dates will be Wednesdays, August 6 – September 24, 2025, from 10:30 AM to 12:30 PM

Deadline to apply: Monday, July 7, 2025