Rutgers University’s Entrepreneurship Pioneers Initiative Celebrates 10th Anniversary

On Mar 26, 2018

The award-winning Entrepreneurship Pioneers Initiative (EPI) is celebrating its tenth anniversary this year. Since its inception in 2008, the companies that are owned and operated by EPI’s participants have created 200 local jobs and generated over $46MM in revenue.

EPI is an education program created by Rutgers University’s Center for Urban Entrepreneurship and Economic Development that offers training, financial and business coaching, and peer learning for first generation business owners,

“Over the past 10 years, we’ve helped almost 400 entrepreneurs from across New Jersey to generate growth, build their brands, accelerate strategic alliances, and focus their finances,” says Lyneir Richardson, Executive Director of CUEED.  “Their businesses are key drivers behind the revitalization of their communities, and we’re proud to have contributed to their enduring success.”

The nine-month EPI program – which is the winner of the U.S. Association for Small Business and Entrepreneurship’s Special Recognition in Entrepreneurship Education Innovation Award and the International Economic Development Council’s Excellence in Economic Development Gold Award – focuses on four key components:

• Training in customer management, branding/marketing strategies, finance and accounting, business valuation, and sales strategy.
• Individual business development and financial counseling to help the participants overcome their business challenges, identify growth opportunities, and better manage their finances.
• Peer empowerment that encourages participants to share business advice and grow their networks.
• Development of a business growth plan for presentation to local business experts, micro lenders and venture capitalists.

“Within six months of graduating from EPI and learning how to better handle my internet marketing, I expanded my product line and dramatically boosted my sales,” says Frank Melfa, a 2016 EPI graduate and Founder/President of FloraTummys Probiotics, which is available at pharmacies and supermarkets across America.  “I recommend EPI to entrepreneurs who I meet, and I’ve also shared the lessons behind my successes with recent EPI students.”

EPI is funded by grants from PNC Bank, Prudential, and Wells Fargo.  Program partners include Colander & Associates, Greater Newark Enterprises Corporation, Institute for Entrepreneurial Leadership, The Degania Group, and The Growth Group.

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