$15,000 Entrepreneur Incubator
PROJECT: Entrepreneur Incubator
PROGRAM: 2015 Small & Simple Grants
GRANTEE: Work Hard Pittsburgh (Hardware Store)
To create a business incubator model that is owned by the regional entrepreneurs receiving the services. The model will provide a legal and fiduciary framework for self-organization anywhere there is entrepreneurial density, but will be piloted and tested at The Hardware Store in Allentown.
The proposed incubator will improve the function and effectiveness of businesses that are not appropriate for institutional investment and entry into existing or traditional regional business incubators. The incubator model will be focused on smaller rounds of funding and entrepreneurs supporting each other’s goals. The businesses that are being incubated and the entrepreneurs receiving the incubation services will be the owners of the entity that does the incubation.
The framework that is developed will support essential, community serving and enriching businesses like the restaurant down the street and the daycare provider, who will never be companies of scale that generate hundreds of millions of dollars, but, they are the backbone of our economy, providing color to our communities and jobs for the residents. The proposed framework will allow the Hardware Store to create test-classes of entrepreneurs for incubation, put forth a meaningful crowdfunding ask to the broader community, and solicit appropriate funding channels for the associated investments.