VentureHue, a Detroit, Michigan-based business support organization that provides technical assistance to technology entrepreneurs and traditional small business owners nationwide, has partnered with the Global African Business Association (GABA) to launch VentureHue ACCESS Lab, Sponsored by Comerica Bank. Comerica Charitable Foundation has provided GABA with a grant to launch the program. Brittni Abiolu, Founder & Managing Director at VentureHue, will oversee the program.
What Is It?
The program is a FREE 6-week (virtual) capital readiness accelerator designed to educate entrepreneurs on how to best position their businesses to raise capital. The accelerator consists of 6 classes lasting up to 2 hours each, covering subjects around debt and equity financing, establishing product market fit, gaining traction, building business credit, and finding grants.
Benefits of the Program
By the end of the accelerator program, participants will understand the many types of capital sources available, how to find them, and how to qualify for funding from those capital sources. Business finance experts from Comerica Bank (and other financial institutions) will also attend several sessions to provide information and advice, and answer questions.
Participants will learn about various types of Comerica Bank products and services provided including their financing solutions for early-stage companies in the technology sector and other financing products for small businesses.
Participants who successfully complete the program will get 6 FREE one-on-one sessions with the class instructor to further assist them in their fundraising efforts. They will also be considered for future opportunities to apply for grants and debt and/or equity funding through other VentureHue programs.
How This is Different from Other Accelerators
Other accelerators may focus on product development or customer discovery (it varies). The program focuses on how to better position and prepare your business to raise capital. It helps applicants to understand where they need to be and what they need to do to get there to meet their capital-raising goals. Our program mission is to help entrepreneurs with limited access to capital, networks, and other resources get the education and support they need to scale their businesses and fuel job creation.
Who Should Apply
Our primary focus is to assist diverse, underrepresented, and overlooked entrepreneurs (especially of African and Caribbean descent) that have already identified their product or service offering, have some traction/skin in the game (e.g. customers, users, live website, app, etc.), and need funding for growth.
How to Apply
We are currently accepting applications for the program. Click here to apply.
Application deadline is Friday, March 22, 2024. Accepted applicants will be announced by April 5, 2024. Accelerator starts Thursday, April 18, 2024.
There will be information sessions held every Friday in February 2024. To get your questions answered and learn more about the program, click on the application link above to register for one of the information sessions.
For media, partnership, or sponsorship inquiries, please contact accesslab[at]venturehue.com