Call for applicants now open
Prizes
of up to $10,000 to be awarded to
local entrepreneurs
BRIDGEPORT, Conn., July 25,
2023 /PRNewswire/ -- M&T Bank, in partnership
with the University of Bridgeport, is
proud to announce the continuation of its groundbreaking initiative
designed to foster growth and success among multicultural small
businesses in the Bridgeport area.
Starting today, small business owners and entrepreneurs can apply
to participate in M&T's 2nd Bridgeport Multicultural
Small Business Lab.
In this comprehensive, eight-week program, eligible participants
will gain access to invaluable resources and support to elevate
their enterprises and compete for cash prizes of up to $10,000 in a Shark Tank-style pitch competition.
The program will accept as many as 100 applicants.
"We are thrilled to partner with the University of Bridgeport once again to support and
uplift the small businesses in the greater Bridgeport area," said Frank Micalizzi, M&T's Bridgeport Regional
President and Head of Commercial Banking. "Through this
collaborative initiative, we aim to provide vital information and
knowledge to empower local entrepreneurs and foster a lasting
positive change within the community."
"This return of the Multicultural Small Business Lab to
Bridgeport reflects our commitment
to the growth of local businesses and a more successful and
resilient local economy," said David
Femi, head of Multicultural Banking & Diverse Market
Strategy at M&T Bank and Business Banking Regional Manager. "By
expanding the breadth of this year's program—including adding a
Spanish-language cohort—we aim to have an even greater impact."
Program Overview and Eligibility
The program will take
place at the University of Bridgeport
School of Business, beginning September 13,
2023, through November 1,
2023. With a focus on enhancing participants' business
acumen, the program will encompass key areas, including: Creating a
business plan, credit fundamentals, business valuation, cash flow,
and branding and marketing a multicultural-owned business. By
equipping entrepreneurs with these essential skills, M&T Bank
aims to provide a solid foundation for the growth and prosperity of
the greater Bridgeport
community.
To be eligible for participation, businesses 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 fewer; and
- Have annual revenues 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 Cahill, Vice
President of Innovation, Strategy and Advancement at the University
of Bridgeport, expressed enthusiasm, stating, "As an
institution dedicated to fostering innovation and entrepreneurship,
the University of Bridgeport is
delighted to join forces with M&T Bank in empowering small
businesses. We firmly believe that education is a catalyst for
progress, and by providing a platform for experiential learning, we
can nurture the talents and potential of the local business
community."
Local elected officials from Bridgeport have also welcomed this
collaboration as a significant step toward supporting multicultural
businesses and driving economic growth in the region. Bridgeport
City Council President, Aidee
Nieves, highlighted 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 in uplifting our community.
Creating opportunities for multicultural small businesses promotes
economic inclusivity and creates a brighter future for Bridgeport and its residents."
Former program participant Virgilio
Rosario, founder of Rosario Resource Group, shared his
success story, underscoring the transformative impact of the
initiative. "Being selected as part of the M&T Bank and
University of Bridgeport's 2022 cohort
was a turning point in my entrepreneurial journey. The knowledge,
support, and connections I gained through the program were
instrumental in taking my business to the next level. I am forever
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 states across the eastern U.S.
from Maine to Virginia and Washington,
D.C. Trust-related services are provided in select markets in
the U.S. and abroad by M&T's Wilmington Trust-affiliated
companies and by M&T Bank.
Media Contact:
Frank
Lentini
+1 (929) 651-0447
flentini@mtb.com
© 2023 M&T Bank. Member FDIC.
Equal Housing Lender.
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SOURCE M&T Bank Corporation