ICIC Small Business Development Programs

Joe Kriesberg and David Bryant recently met with Steve Grossman and his staff from the Initiative for a Competitive Inner City (ICIC) to learn about two of their programs designed to help small businesses develop, thrive and grow at different stages. Here is a brief overview of the programs, Inner City Capital Connections and the Goldman Sachs 10,000 Small Businesses (10KSB) programs. We urge you to share this information with small business partners in your communities.

Both the Inner City Capital Connections Program (ICCC) and 10KSB Program help small businesses at different stages of their growth cycle. The 10KSB program provides the foundational tools necessary to build a growth plan. The Inner City Capital Connections Program works with companies who have a growth plan to help them build capacity and access capital needed to drive continued growth.

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Inner City Capital Connections (ICCC) is a national program designed to accelerate small business growth and access to capital. ICCC helps firms in the growth-to-exit stage overcome obstacles to reach their respective goals. Our participants experience different business challenges from the need for capital to restructuring growth strategies.

Our executive education will be held in Philadelphia, Birmingham, Dallas and Boston. The culminating conference will be held in New York.

Companies must have the following qualifications:

  • Independent, for-profit corporation, partnership or proprietorship
  • Inner city location—headquarters or 51%+ of physical operations in economically distressed urban areas of the U.S. or have 40% or more of your employees residing in an economically distressed area.
  • Revenues of $2 million or more in 2014.

If you have any questions, please email Hyacinth Vassell at hvassell@icic.org.

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Goldman Sachs 10,000 Small Businesses Program

Goldman Sachs 10,000 Small Businesses is a world class entrepreneurship education program that provides small business owners with the opportunity to step away from day-to-day operations and focus on growth. In professional workshops, business owners will:

  • Learn from some of the brightest minds in business
  • Explore opportunities to access financial capital
  • Build a powerful network of professional support

If accepted, program tuition is at no cost to the business owner!

With the launch of 10,000 Small Businesses at Babson College in late 2013, the 10,000 Small Businessesprogram is now available to business owners from all 50 states. This unique model of the program, our National Cohort, connects small business owners with a nationally-sourced class of peers for 11 weeks of practical business education delivered through a blend of online facilitated learning and on campus sessions at Babson College. All business owners graduate with a customized 5-year strategic growth plan for their business.

There is no cost to apply, and all accepted business owners receive a full scholarship to participate. All reasonable travel and accommodation costs associated with the trips to Babson College are covered as part of this scholarship.

The program’s qualifying criteria are as follows:

  • The applicant is a small business owner or small business co-owner
  • The business has been in operation for at least two years
  • The business revenues were are at least $150,000 in the most recent fiscal year
  • The business has a minimum of four employees (including the owner)

The application deadline for the upcoming fall 2015 National Cohort is April 20th, 2015. Applications are reviewed on a rolling basis, so business owners are encouraged to apply early! For more information, please visit www.10ksbapply.com or email 10KSB@icic.org