This is a new program created as part of the Center for Urban Entrepreneurship and Economic Development at Rutgers Business School.
Founded in 2008, the CUEED integrates academia, private sector, government organizations, and nonprofit partners with the goal of stimulating economic growth through entrepreneurship. CUEED has assisted 370 New Jersey business owners who have contributed more than $80 million to their local economies over a period of 10 years, according to Rutgers.
The goals of the Black and Latino Urban Entrepreneurship Retail Acceleration Program are to help black and Latino owners of retail stores and restaurants to thrive, purchase property and open additional locations.
Lyneir Richardson, executive director of the Center for Urban Entrepreneurship and Economic Development, said the participating BLUE-RAP entrepreneurs will gain critical skills to help them manage and grow their urban business ventures. Entrepreneurs will learn from peers, present growth plans to a panel of local corporate partners and lenders for feedback and possible investment, and work with Rutgers MBA students on market research and other projects.