The Greater Des Moines Partnership has partnered with nonprofit Interise to launch the Scale DSM Minority Business Accelerator.
The accelerator aims to help businesses gain access to knowledge, management skills and networks needed to increase revenue, create jobs and positively impact the community.
The program is tuition-free and will run from June through December 2022.
Scale DSM participants will complete Interise’s StreetWise ‘MBA,’ (minority business accelerator) which is centered around practical, case-based peer learning for minority-led businesses. Programming will be divided into five modules and participants will be required to attend one session per week. Module topics include business strategy and leadership, financial management, sales and marketing, talent and capital resources, and strategic growth action plan.
“This program will help empower business owners who have a diverse background and cultivate an environment where companies can ramp up their growth,” said Juan Pablo Sanchez, Director of Inclusive Business Strategies at The Partnership in a . “Businesses that participate in this program will be able to take away actionable steps from experts in areas related to leadership, sales and marketing, resource management and strategic planning that position their company for long-term success.”
Greater Des Moines is one of several places around the country that is working with Interise to administer its program. Based on a 2021 data assessment by Interise, 55% of alumni businesses increased or maintained annual revenues, with an average annual revenue growth of 13%. A total of 71% of alumni businesses reported being profitable and 60% added or retained jobs.
“The Greater Des Moines Partnership’s Scale DSM Minority Business Accelerator signature program will be integral to the growth and sustainability of minority-owned businesses in the DSM region,” said Bernard Johnson, Senior Director of Programs for Interise. “The participants in the inaugural cohort are going to increase their individual and shared capacity around finance, sales and marketing, access to capital, and strategy. Interise is truly excited to partner with the Greater Des Moines Partnership, and support The Partnership’s dedication to maximizing opportunities for minority-owned firms.”
To apply, businesses must have minority-owned business status, $150,000 – $4 million in annual revenues, one other full-time employee besides the owner or owners, at least two years of being in business, and a willingness and ability to attend the class for seven months.
The application deadline is Sunday, May 8. To learn more and apply, click here.