Entrepreneurship for All (EforAll), a nonprofit organization whose mission is to accelerate economic and social impact through inclusive entrepreneurship, today announced the launch of its first fully virtual business accelerator program to help reach its goal of serving 50,000 entrepreneurs by 2030. Piloting in Arizona, California and Texas in January 2024, this initiative is designed to assess EforAll’s ability to successfully provide program access to aspiring entrepreneurs in communities where a physical location does not exist
A tried-and-true community-based business accelerator program, EforAll has helped launch 1,400 businesses, which have created more than 2,000 jobs and generated over $66M in revenue in 2022 alone. Available to the public at no-cost, the Virtual Accelerator will follow the existing cohort model, offering a 12-week program that provides participants with immersive business training, mentorship and access to an extended professional network, as well as the opportunity to win seed money.
"This Virtual Accelerator gives us the ability to expand our community, create greater social impact and serve more under-represented entrepreneurs conceptualizing business plans,” said Meralis T. Hood, CEO of EforAll. “Our decision to pilot this initiative in Arizona, California and Texas is driven by our desire to test this program in new locations with diverse demographics, ample Spanish speaking communities, and an opportunity to serve the communities’ entrepreneurial ecosystem.”
The English and Spanish-language programs’ (EparaTodos) cohort model is designed to facilitate collaboration and teamwork. Each cohort will accept a total of 15 entrepreneurs, from the collective states and provide a team of up to three dedicated mentors to each entrepreneur. Participants will learn how to master critical early-stage business challenges while receiving access to an expanded local, regional and national network.
“EforAll was founded with a mission to help close the inequality gap and create employment opportunities through inclusive entrepreneurship,” said Gururaj “Desh” Deshpande, EforAll founding sponsor. “In all the communities this organization has served, it has proven its ability to do just that. I am proud of its accomplishments thus far and will continue to support EforAll as it pushes its national expansion plans forward. “
About EforAll
Entrepreneurship for All (EforAll) is a nonprofit organization that partners with communities nationwide to help under-represented individuals successfully start and grow a business through intensive business training, mentorship and an extended professional support network. To date, EforAll alumni have launched over 1,400 businesses. In 2022 alone, its businesses provided 2,108 local jobs and generated over $66M in revenue, despite the pandemic. Programs are available in both English and Spanish. EforAll current locations include Longmont, Colo.; Lowcountry, South Carolina; Maine; Northwest Arkansas, Rhode Island; and the following Massachusetts communities: Berkshire County, Cape Cod, Fall River/New Bedford, Merrimack Valley, Lynn, Pioneer Valley, Roxbury and Worcester. To learn more about EforAll, please visit eforall.org.