Boosting Business Growth: Fifth Third Foundation Invests $50K in Incubator through Micro Grants
Pictured: Members of the 2022-23 Urban Elevation Accelerator and director, Whitney Barkley.
Entrepreneurs participating in the 2022-23 cohort of the Greater West Dayton Incubator's Urban Elevator Accelerator have achieved a significant milestone, thanks to the generous support of the Fifth Third Foundation. Participants were awarded $38,000 in microgrants from a $50,000 donation, which have played a pivotal role in their journey towards success.
The Urban Elevation Accelerator, a 12-month program, has empowered these entrepreneurs with essential resources and guidance. Last year, the program kicked off with a six-week bootcamp led by LeKeisha Grant of the Entrepreneurs’ Center, followed by mentorship opportunities and collaboration with student consultants from the University of Dayton throughout the year. This comprehensive curriculum, founded by University of Notre’s Michael Morris, is a testament to the program's commitment to helping entrepreneurs from disadvantaged backgrounds build sustainable businesses. Throughout the year, participants complete 80 essential steps that contribute to their long-term success.
Whitney Barkley, the director of the Greater West Dayton Incubator, expressed gratitude for Fifth Third's invaluable support. "Fifth Third's timely contribution truly enhanced the value of our program," she says. "Thanks to their financial support, the GWDI has been able to empower entrepreneurs by eliminating barriers and guiding them towards sustainable growth."
The Greater West Dayton Incubator is grateful for Fifth Third’s support of our microgrants for the Urban Elevation Accelerator.
Microgrants for the program have been utilized for various purposes, including procuring equipment, hiring employees, managing inventory, and implementing effective marketing strategies. The impact of these funds have provided entrepreneurs with the necessary resources to drive their businesses forward.
One of the program's participants, Tastee Smith, shared her success story. As the owner of Care Task Solutions, a home health and non-emergency medical transportation business, Smith's revenue doubled compared to the previous year, thanks to the Urban Elevation Accelerator.
"The UEA program played a pivotal role in scaling and growing my business," she explains. “Without the knowledge learned in the program, the UEA Fifth Third grant and the support of other funds like the Flyer Pitch and the microlending program through UD, I would not be able to grow my business at the pace I’ve been able to grow it over the last 12 months.”
Tastee Smith smiles for her certificate of completion from the Urban Elevation Accelerator.
Smith utilized the Fifth Third grant to secure the necessary insurance and bonding required to legally operate her transportation business in Ohio. In a recent milestone, she successfully onboarded her first employee, marking a significant step forward in her entrepreneurial journey.
As the current cohort prepares to conclude their experience on June 28, anticipation is building for the next cohort of entrepreneurs. The 2023-24 Urban Elevation Accelerator will begin on July 8. To stay updated on their progress and inspiring stories, follow the Greater West Dayton Incubator on Instagram at www.instagram.com/thegwdi.
"The Urban Elevation Accelerator was financially assisted by the Fifth Third Foundation. The views expressed herein do not necessarily represent those of the Fifth Third Foundation.”
