Virtual Incubator Program

To learn more about the Virtual Incubator Program (VIP), we encourage you to watch this three-minute video overview featuring past VIP participants and UCEDC’s Director of Training/VIP counselor Joe Lamberti as well as read the program summary below.

Program Summary

Diverse business owners have historically encountered many obstacles to success. To battle these injustices, UCEDC’s Board of Trustees developed the Virtual Incubator Program (VIP). The VIP will allow up to 12 businesses with ownership from an underserved population the opportunity to sustain themselves through these trying economic times by offering education and access to capital.

The VIP will provide the benefits businesses would get from a traditional business incubator in a virtual setting, in addition to providing access to capital to these entrepreneurs upon completion of the program. While businesses have struggled to find resources in the current economic climate, our goal is to provide them with the support they need. The program will include virtual training sessions, group, and one-on-one mentoring. Upon completion of the incubator program, participants will gain access to an exclusive loan program from UCEDC created specifically for VIP 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

1. 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.

2. 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.

Please fill out the form below if you would like to be considered for the next VIP session, which will meet every Wednesday from 10:30 am to 12:30 pm from August 6th – September 24, 2025

Deadline to apply: Monday, July 7, 2025