Startup Junkie Consulting in Fayetteville has been awarded a U.S. Small Business Administration ScaleUp America Initiative award of $200,000 for the first year and the potential for up to $1 million.
The initiative provides support for existing businesses to scale up and grow, and strengthens and enhances local entrepreneurial ecosystems around the specific needs of growth-oriented entrepreneurs and firms. The goal is to enhance their ability to produce measurable economic impact and job growth in local communities.
“We are honored and humbled to be one of seven successful applicants nationally to be funded to run the SBA’s ScaleUp program,” said Jeff Amerine, founder of Startup Junkie.
Startup Junkie will deliver ScaleUp Ozarks, a comprehensive, intensive assistance 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; offer mentoring counseling, training, support and assistance; 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.
“With up to $1 million in funding, ScaleUp Ozarks will help good companies become great over the next five years,” Amerine said.
ScaleUp America focuses on inclusive entrepreneurship, which ensures 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 Contreras-Sweet. “The SBA’s 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. Small business hiring is the backbone of job growth, and ScaleUp is yet one more way the SBA is working to help entrepreneurs propel our economy forward.”
SBA has expanded its ScaleUp initiative to seven more communities, building off of the successes and lessons learned from last year’s inaugural year with eight communities.
The seven ScaleUp awardees’ communities will address these hurdles and represent a wide range of diverse geographic areas and organizations. From urban to rural, the applicants focused on filling the gap in services for growth-oriented small businesses with average annual revenues of $150,000 to $500,000.
The seven awardees include:
- Thurston EDC BRC (Thurston County, Washington)
- Nashville Area Chamber (Commerce Nashville region, Tennessee)
- The Enterprise Center (Philadelphia, Pennsylvania)
- Greater Dallas Hispanic Chamber of Commerce (Dallas/Fort Worth, Texas)
- University of Texas-Pan American (Rio Grande Valley, Texas)
- Startup Junkie Consulting (Ozarks region)
- Supply Chain Vistas (Williamsport, Pennsylvania)
Read more about the other awardees here.
The ScaleUp Ozarks accelerator is scheduled to begin Oct. 22. To apply, email jay@startupjunkieconsulting.com.
