Fayetteville-based Startup Junkie Consulting announced Thursday (Sept. 10) the receipt of the U.S. Small Business Administration (SBA) Scale Up America award. This funding will provide $200,000 to the nonprofit in year one with the potential value scaling up to $1 million over the next five years.
This initiative provides the necessary support to help existing businesses scale up and grow, while strengthening local entrepreneurial ecosystems.
“We are honored and humbled to be one of seven successful applicants nationally to be funded to run the SBA’s Scale Up program,” said Jeff Amerine, founder, Startup Junkie
Consulting. “With up to $1,000,000 in funding, Scale Up Ozarks will help good companies become great over the next 5 years.”
ScaleUp America focuses on inclusive entrepreneurship, which means ensuring that innovators from underserved and underrepresented communities receive the necessary
support to help them expand.
While women and minorities represent a fast growing segment of the entrepreneurial population, their businesses tend to be smaller both in revenue and number of employees. These entrepreneurs frequently lack access to growth capital, sufficient business networks and management support required to grow a business.
"Starting a business is tough; growing a business is even tougher," said SBA Administrator Maria ContrerasSweet.
She said ScaleUp America program offers high potential entrepreneurs the training, support and networks they need to get to scale, enabling them to create three out of every four net new jobs.
With this funding, Startup Junkie Consulting will deliver ScaleUp Ozarks, a comprehensive program to established high potential small businesses, particularly women, minority and veteran entrepreneurs, that are primed for growth beyond the startup or early stages.
Focused on strengthening the public / private partnerships for small businesses within the Ozark region, Startup Junkie will deliver 45 hours of entrepreneurial educational curriculum supplemented with a speaker series; will offer mentoring counseling, training and support; will provide connections to growth capital, assist with loan package preparations and facilitate business pitch events to angel and venture funds; and will help participating small businesses build and strengthen connections and networks.
Aside from Startup Junkie Consulting six other awards were given to the following:
1. Thurston EDC BRC: Thurston County, Wash.
2. Nashville Area Chamber of Commerce: Nashville, Tenn.
3. The Enterprise Center: Philadelphia, Penn.
4. Greater Dallas Hispanic Chamber of Commerce: Dallas/Fort Worth, Texas
5. University of Texas Pan American: Rio Grande Valley, Texas
6. Supply Chain Vistas: Williamsport, Pennsylvania