AdvantageWest launches
‘ScaleUp WNC,’ a new program supporting growth-oriented small businesses in
Western North Carolina
Economic development organization is one of
eight entities nationwide awarded contract by U.S. Small Business
Administration for job creation program
With
Western North Carolina’s history and heritage of entrepreneurial independence,
an impressive number of training, funding, mentoring, and technical assistance
resources are available across the region to aspiring small-business owners.
Among those are the Advantage Opportunity Fund, Blue Ridge Food Ventures and
Blue Ridge Entrepreneurial Council – all initiatives of AdvantageWest, the
nonprofit regional economic development organization, and all serving primarily
early-stage businesses.
Now, thanks to a five-year, $1.2
million contract award from the U.S. Small Business Administration, a new level
of support will be available to help scalable small firms grow and create jobs.
Led by AdvantageWest, ScaleUp WNC will provide intensive growth strategy
development and implementation assistance to 150 Western North Carolina
growth-oriented entrepreneurs. This stage of companies, after startup but
before maturity, tends to be underserved in the region and across the country.
ScaleUp WNC offers a
unique opportunity to help expand growth-oriented businesses and strengthen the
entrepreneurial ecosystem across the region. Twice a year, with training and
technical assistance from project partners Ascent Business Network in Boone,
N.C., A-B Tech Entrepreneurial Development Foundation in Asheville, N.C., and
the Sequoyah Fund in Cherokee, N.C., the highly competitive program will
provide an intensive six-week education curriculum developed especially for
established businesses. Each cohort, consisting of 15 business executives, will
also receive one-on-one management support, assistance in connecting with
growth capital, and the opportunity to strengthen connections and networks.
Using prior metrics as well as
those from similar programs in other regions, this project aims to result in
600 new jobs created and $18 million in new capital raised by small businesses
in Western North Carolina within three years of project completion.
AdvantageWest was selected by the U.S. Small Business Administration as one of
only eight organizations in the country to develop the project as part of SBA’s
ScaleUp America initiative.
“The SBA is pleased to be able to
provide this funding to our good partners at AdvantageWest,” said Deputy District Director Mike Arriola, of the U.S. Small Business Administration’s North Carolina
office, based in Charlotte. “Having served in the past as the SBA
officer for Western North Carolina, I have known AdvantageWest for 10 years and
am fully confident in their ability to help our deserving entrepreneurs in
this region ‘scale up’ to their next level of business success. We look
forward, as our entrepreneurs here do, to an outstanding initiative here in the
west.”
Applications are now being
accepted through January 15 for the first cohort, which will start in late
February. In December, AdvantageWest will host networking and informational
events for potential candidates in four locations across the region, with each
event featuring a presentation from a distinguished Western North Carolina
entrepreneur [SEE SIDEBAR
BELOW]. For eligibility requirements, dates and locations of networking
events, and other facts about ScaleUp WNC, visit ScaleUpWNC.
SIDEBAR:
Looking
to scale up your small business? Find out the secrets of WNC’s most successful
entrepreneurs at upcoming special presentations
Free
networking events will provide information on a program to help entrepreneurs
take their ventures to new heights
Successfully starting up a new
business is one thing; scaling up that business is quite another.
Now a new initiative designed
specifically for growth-oriented companies that are past the startup phase, but
before maturity, is available to Western North Carolina entrepreneurs. Called ScaleUp
WNC, the program will offer a select group of small-business owners
intensive training, one-on-one management support, assistance in connecting
with growth capital, and the opportunity to strengthen connections and networks.
An upcoming series of free
networking events will provide information on the program and feature
presentations from Western North Carolina’s most successful entrepreneurs. The
events will take place as follows:
·
Central Region (Asheville, N.C.): Monday,
Dec. 1, 2 – 4 p.m. Location: Highland Brewing Company, 12 Old
Charlotte Hwy., Suite H. Event will include a presentation from Oscar Wong,
founder and president of Highland Brewing in Asheville, established in 1994.
·
Southwest Region (Franklin, N.C.): Tuesday,
Dec. 2, 2 – 4 p.m. Location: Drake Education Center, 210 Phillips St.
This event will also feature Oscar Wong.
·
Foothills Region (Spindale, N.C.): Wednesday,
Dec. 3, 2 – 4 p.m. Location: The Foundation Performing Arts &
Conference Center at Isothermal Community College, 286 ICC Loop Rd. Event will
include a presentation from Peter Catoe, founder, CEO, and president of Boone,
N.C.-based software development company ECRS, established 25 years ago.
·
High Country Region (Boone, N.C.): Friday,
Dec. 5, 2 – 4 p.m. Location: Blue Ridge Electric Membership Co-op,
2491 Hwy. 421 South. Catoe will provide the keynote presentation at this event
as well.
SCALEUP WNC: AN OVERVIEW
Applications are now being
accepted for the first ScaleUp WNC cohort, which begins in February
2015. Fifteen founders or executive managers of growth-oriented small
businesses will be selected for each cohort through a competitive, merit-based
application process. Businesses must be based in the 23 counties of Western
North Carolina, have annual revenues between $150,000 and $500,000, have at
least one full-time employee, and have identified opportunities for business
expansion. The deadline to apply is January 15.
There is no cost to participate in
ScaleUp WNC, thanks to funding from the U.S. Small Business
Administration, but companies chosen are expected to make a firm commitment of
time to participate in the program. For more information, visit
ScaleUpWNC.com.
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