Big Companies Helping Small Businesses With Financing And Other Services

DreamtIt Ventures Accelerator, the global startup accelerator DreamIt Ventures partnered with Comcast to support DreamIt Access, a $20 million, multiyear commitment to launch minority-led startups in New York and Philadelphia. DreamIt Access offers seed funding up to $25,000; incorporates intensive coaching and mentorship; provides a co-working space; and enables access to exclusive opportunities to engage with leading entrepreneurs, business executives, and service providers. Participants get to pitch their businesses in front of a group of investors at a “Demo Day.â€ DreamIt’s portfolio of companies brings together entrepreneurs and their ideas with the support they need to build thriving businesses.

Goldman Sachs 10,000 Small Businesses is an initiative launched in 2009 with a $500 million commitment to help small businesses create jobs and greater economic opportunity. The program provides entrepreneurs access to business education and connections to a professional support network at no cost. Selected applicants develop practical skills in such areas as negotiation, marketing, and employee management. In addition, they receive tools and professional support to develop a strategic, customized growth plan. A 2013 report from Babson College shows that 63.7% of participants increased revenue, and 44.8% added new jobs following graduation from the program.

IBM Supplier Connection is an initiative to grow small businesses and create jobs. Launched in 2011, IBM Supplier Connection uses a cloud-based platform to enable small suppliers to do business with large corporations. It gives them information that can accelerate them from the matchmaking phase to the business making. Small suppliers have access to $300 billion combined in procurement spend from these corporations, including IBM, AT&T, Bank of America, JPMorgan Chase, Kellogg, Wells Fargo, Caterpillar, Dell, Facebook, John Deere, Office Depot, Pfizer, and UPS. There is no charge to register a small business on the site.

Wells Fargo Startup Accelerator is a semi-annual, six-month-long boot camp intended to help startups do business with Wells Fargo. It is designed for innovative entrepreneurs whose technology ideas in payments, deposits, fraud, operations, and other fields could shape future customer experiences in financial services. Wells Fargo offersÂ them mentorship to prepare them to serve as vendors and provides business planning expertise. The bank makes a direct equity investment of $50,000 to $500,000 in each selected startup. Company subject matter experts and purchasing managers offer workshops and individual coaching.