Partnership to Launch Minority-Owned Business Accelerator
GREATER DES MOINES, IA (March 10, 2022) – The Greater Des Moines Partnership has announced the launch of the Scale DSM Minority Business Accelerator powered by Interise. The accelerator aims to help businesses gain access to knowledge, management know-how and networks needed to increase revenue, create jobs and positively impact the community. The program is tuition free and will run from June through December 2022.
Scale DSM participants complete Interise’s award-winning and internationally recognized StreetWise ‘MBA,’ (minority business accelerator) which is centered around practical, case-based peer learning for minority-led businesses. Programming will be divided into five modules and participants will be required to attend one session every other week. Module topics include business strategy and leadership, financial management, sales and marketing, talent and capital resources, and strategic growth action plan.
“This program will help empower business owners who have a diverse background and cultivate an environment where companies can ramp up their growth,” said Juan Pablo Sanchez, Director of Inclusive Business Strategies at The Partnership. “Businesses that participate in this program will be able to take away actionable steps from experts in areas related to leadership, sales and marketing, resource management and strategic planning that position their company for long-term success.”
Bernard Johnson, Senior Director of Programs noted “The Greater Des Moines Partnership’s Scale DSM Minority Business Accelerator signature program will be integral to the growth and sustainability of minority owned businesses in the DSM region,” said Bernard Johnson, Senior Director of Programs for Interise. “The participants in the inaugural cohort are going to increase their individual and shared capacity around finance, sales and marketing, access to capital, and strategy. Interise is truly excited to partner with the Greater Des Moines Partnership, and support The Partnership’s dedication to maximizing opportunities for minority owned firms.”
Greater Des Moines (DSM) is one of several places from across the country that is working with Interise to administer its program. Based on a 2021 data assessment by Interise, 55% of alumni businesses increased or maintained annual revenues, with an average annual revenue growth of 13%. A total of 71% of alumni businesses reported being profitable and 60% added or retained jobs.
To apply, businesses must have minority-owned business status, $150,000 – $4 million in annual revenues, one other full-time employee besides the owner or owners, at least two years of being in business, and a willingness and ability to attend class for seven months. The application deadline is Sunday, May 8.
To learn more and apply, click here.
About the Greater Des Moines Partnership?
The Greater Des Moines Partnership is the economic and community development organization that serves Greater Des Moines (DSM), Iowa. Together with 24 Affiliate Chambers of Commerce, more than 6,500 Regional Business Members and more than 365 Investors, The Partnership drives economic growth with one voice, one mission and as one region. Through innovation, strategic planning and global collaboration, The?Partnership grows opportunity, helps create jobs and promotes DSM as the best place to build a business, a career and a future. Learn more at?DSMpartnership.com.
Interise builds diverse and inclusive local economies through small business development, supporting the growth of minority-owned small businesses and small businesses located in low- and moderate-income communities. Interise contributes to inclusive economic development through its national research on the growth of established small businesses and its award-winning business development programs. As Interise companies grow, they contribute to local job creation and build community wealth. Interise companies historically create new jobs at 5x the rate of the private sector and are responsible for the creation of over 30,000 new jobs. Interise partners with government agencies, anchor institutions, and business associations to offer the StreetWise ‘MBA’™ program in 80+ cities nationwide. Strategic Growth Partners include the Kauffman Foundation, the TD Bank Foundation, the Wells Fargo Foundation and the Prudential Foundation.