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BRIDGEPORT, Connecticut., July 25, 2023 /PRNewswire/ — M&T Bank, in partnership with the University of Bridgeportis proud to announce the continuation of its groundbreaking initiative designed to foster the growth and success of multicultural small businesses across the Bridgeport area. Starting today, small business owners and entrepreneurs can apply to participate in M&T’s 2nd program.sd Bridgeport Multicultural Small Business Lab.
In this comprehensive eight-week program, eligible participants will have access to invaluable resources and support to grow their business and compete for cash prizes of up to $10,000 in a Shark Tank-style pitch competition. The program will accept up to 100 applicants.
“We are delighted to collaborate with the University of Bridgeport once again to support and elevate small businesses from the big Bridgeport area,” said Frank Micalizzi, Bridgeport Regional President of M&T and Head of Commercial Banking. “Through this collaborative initiative, we aim to provide essential information and knowledge to empower local entrepreneurs and drive lasting positive change within the community.”
“This return of the Multicultural Small Business Lab to Bridgeport reflects our commitment to local business growth and a more prosperous and resilient local economy,” said David Femi, Head of Multicultural Banking and Diversified Markets Strategy at M&T Bank and Regional Head of Corporate Banking. “By expanding the scope of this year’s program, including adding a Spanish-speaking cohort, we aim to have an even greater impact.”
Program Overview and Eligibility
The program will take place at University of Bridgeport Business school, beginning September 13, 2023through November 1, 2023. With a focus on improving participants’ business acumen, the program will cover key areas including: creating a business plan, credit fundamentals, business valuation, cash flow, as well as the branding and marketing of a multicultural business. By equipping entrepreneurs with these essential skills, M&T Bank aims to provide a solid foundation for growth and prosperity for the general public. Bridgeport community.
To be eligible to participate, companies must meet the following criteria:
- Located in the Bridgeport Metropolitan area;
- Qualify as a Multicultural Small Business (Black/African American, Hispanic/Latinx, Asian American);
- In operation for five years or less; And
- Have an annual income of $250,000 or less.
To apply for the Multicultural Small Business Innovation Lab, visit www.mtb.com/bridgeportlab. Applications are available in English and Spanish.
Community support for M&T’s Multicultural Small Business Lab
Elena Cahillvice president of innovation, strategy and progress at the University of Bridgeport, expressed his enthusiasm saying, “As an institution dedicated to fostering innovation and entrepreneurship, the University University of Bridgeport is delighted to partner with M&T Bank to empower small businesses. We strongly believe that education is a catalyst for progress and that by providing a platform for experiential learning, we can nurture the talents and potential of the local business community. »
Local elected officials from Bridgeport also welcomed this collaboration as an important step towards supporting multicultural businesses and stimulating economic growth in the region. Chairman of the Bridgeport City Council, Help Nievesunderscored the importance of such partnerships, saying, “This joint effort between M&T Bank and the University of Bridgeport showcases the power of public-private collaborations to uplift our community. Creating opportunities for multicultural small businesses promotes economic inclusion and creates a better future for Bridgeport and its inhabitants.
Former Program Participant Virgilio Rosario, founder of Rosario Resource Group, shared his success story, highlighting the transformative impact of the initiative. “Being selected as part of the M&T Bank and University of Bridgeport The 2022 cohort was a turning point in my entrepreneurial journey. The knowledge, support and connections I gained through the program have been instrumental in taking my business to the next level. I am eternally grateful for this remarkable opportunity. »
About M&T Bank
M&T is a financial holding company headquartered in Buffalo, new York. M&T’s principal banking subsidiary, M&T Bank, provides banking products and services in 12 eastern US states, from Maine to Virginia and Washington, DC. Trust-related services are provided in certain markets in the United States and abroad by affiliates of M&T’s Wilmington Trust and M&T Bank.
Media Contact:
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SOURCE M&T Banking Corporation
