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AcceleratorDirect fundingNo equityNeeds Verification

Underserved Communities Incubator & Accelerator

Also known as: Monmouth Underserved Communities Program, CFE Community Accelerator

Monmouth University · West Long Branch, NJ

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Quick fit check

  • Offers direct funding
  • No equity required
  • Currently active

Key numbers

Funding range

$0 – $640,000

Non Dilutive Grant, Gift

Equity

None

Application

Annual

Community

Last activity

2023

Medium confidence

Underserved Communities Incubator & Accelerator

Program Type

accelerator

Institutional Scope

Central New Jersey, hosted at Monmouth University's Leon Hess Business School. Serves underserved communities.

Description

Entrepreneurship incubator and support program funded by a $640,000 federal earmark (FY2023 omnibus spending bill, secured by Sens. Menendez/Booker and Rep. Pallone). Aims to develop, educate, and accelerate entrepreneurs from underserved communities in central New Jersey. Includes: (1) intensive summer bootcamp for local high school students hosted by the Center for Entrepreneurship, (2) ongoing technical assistance for program graduates, and (3) accelerator-style programming for existing entrepreneurs ready to scale (business plan evolution, elevator pitch design, networking skills).

Key Details

Detail Value
Funding $640,000 federal earmark
Announced March 2023
Focus Entrepreneurs from underserved communities
Components High school bootcamp, technical assistance, accelerator
Host Center for Entrepreneurship, Leon Hess Business School

Resources Provided

  • High school entrepreneurship summer bootcamp
  • Ongoing technical assistance
  • Accelerator programming (business planning, pitching, networking)

Funding Details

$640,000 federal appropriation. Programming-focused rather than direct equity investment.

Curriculum / Structure

Multi-component: summer bootcamp (high school) → technical assistance (ongoing) → accelerator (business scaling).

Eligibility

High school students from underserved communities (bootcamp track). Existing entrepreneurs from underserved communities (accelerator track).

Related Programs

Additional research notesShow