M&T Bank and Center for Innovation & Entrepreneurship at Harrisburg University officials announced the Capital Region Multicultural Small Business Lab at a press conference in Strawberry Square.
A group of local entrepreneurs soon will get the chance to grow their small businesses and maybe even win some money in the process.
M&T Bank on Tuesday launched its Capital Region Multicultural Small Business Lab, a program designed to guide and support new multicultural businesses.
The second annual program, in partnership with the Center for Innovation & Entrepreneurship at Harrisburg University (CIE), launches on May 10. The lab will offer up to 50 participants education on business planning, establishing credit, accessing capital, marketing, branding and networking.
“We truly see this program as a catalyst for our community,” said Nora Habig, M&T Bank’s regional president for central and western Pennsylvania, during a press conference held near the recently opened CIE in Strawberry Square.
The application for the program opened on Tuesday and will close on April 18. Eligible participants will include those who are Black/African American, Hispanic/Latinx or Asian American and reside in the greater Harrisburg area. Their business must also be no older than three years, and the business revenue must not exceed $350,000.
Qualified applicants will be enrolled in the free program on a first-come, first-served basis, according to M&T Bank.
The seven-week program will offer classes each Wednesday evening at Harrisburg University and will conclude with a pitch competition. The winners will receive grants, $6,000 for first place, $4,000 for second place and $2,000 for third place, from M&T Bank.
The small business lab first launched in 2022, providing programming and resources to 40 entrepreneurs. The program also received the 2022 Catalyst Award from the Harrisburg Regional Chamber and CREDC for its impact on businesses in the area.
Last year’s pitch competition winner, Joy Boudreau, was highlighted in our 2022 feature story.
According to M&T, the return of the lab coincides with the recent growth in the number of ethnically and racially diverse businesses in Harrisburg. Of the 39 new city-based businesses that started over the past year, 22 are owned by Black/African American, Hispanic/Latinx or Middle Eastern entrepreneurs, according to city officials.
A 2022 program participant, Joseph Evans-Carter, owner of wellness company JEC + Associates, shared how the lab helped him kick-start his business.
“I would highly recommend it,” he said. “This gives you someplace you’re able to grow in.”
For more information or to apply for the Capital Region Multicultural Small Business Lab, visit their website.
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