M&T Bank Launches Latest Small Business Innovation Lab
M&T Bank is inviting small businesses in the Bridgeport metropolitan area to apply for its Multicultural Small Business Lab.
The eight-week program, done in partnership with the University of Bridgeport, is designed to foster growth and success for area small businesses.
Business leaders will learn about creating a strong business plan, credit fundamentals, valuation, cash flow, and branding and marketing.
This is the second year of the program in Bridgeport.
The program runs from Sept. 13 to Nov. 1 at the University of Bridgeport School of Business and culminates with a Shark Tank-style pitch competition where businesses compete for cash prizes of up to $10,000.
Last year M&T Bank awarded $15,000 in grants to four local small businesses.
“We are thrilled to partner with the University of Bridgeport once again to support and uplift the small businesses in the greater Bridgeport area,” M&T’s Bridgeport regional president and head of commercial banking Frank Micalizzi said.
“Through this collaborative initiative, we aim to provide vital information and knowledge to empower local entrepreneurs and foster a lasting positive change within the community.”
Program administrators will accept as many as 100 applicants this year.
Businesses must be located in the Bridgeport metropolitan area and qualify as a multicultural small business (Black/African American, Hispanic/Latinx, Asian American).
Eligible businesses are those that have been in operation for five years or less and have annual revenues of $250,000 or less.
“As an institution dedicated to fostering innovation and entrepreneurship, the University of Bridgeport is delighted to join forces with M&T Bank in empowering small businesses,” said University of Bridgeport vice president of innovation, strategy, and advancement Elena Cahill.
“We firmly believe that education is a catalyst for progress, and by providing a platform for experiential learning, we can nurture the talents and potential of the local business community.”
Businesses should apply online to the program by Aug. 22.
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