OWATONNA, MN, SEPTEMBER 28, 2022 – Southern Minnesota Initiative Foundation (SMIF) is pleased to announce the members of the second Prosperity Initiative cohort of 2022, a program which provides free coaching and training to minority entrepreneurs. Four entrepreneurs have joined the program.
Prosperity Initiative clients commit to a six-month period of working directly with an experienced business coach. Additionally, clients connect monthly with other entrepreneurs participating in the program through peer network meetings to discuss challenges and successes. All resources are free for participating businesses.
When the Prosperity Initiative was created in 2016, its mission was to help remove barriers to success for entrepreneurs who identify as Black, Indigenous or People of Color (BIPOC). This is the first year that the program has expanded its eligibility to also include entrepreneurs who identify as women, veterans, low-income and/or a person with disabilities. More than 90 clients have graduated from the program.
SMIF is pleased to welcome the following entrepreneurs to the program:
•Akeem Pendleton, New Identity Barbershop. A barbershop that caters to custom hair and beard grooming needs (Mankato).
•Amanda Brees, Amanda Brees Ministries. Offers yoga therapy, meditation, attachment education and therapies for adult survivors of familial trauma (Plainview).
•Atiq Bhatt, Midwest Building & Equipment. Manufactures and sells portable storage buildings, custom trailers and modular homes (Mankato).
•Jamie West, Baby Morgan. A baby blanket retailer (Rochester).
“We welcome these entrepreneurs into the program and look forward to seeing how their businesses grow over the next six months,” said Pam Bishop, vice president of economic development at SMIF.
Applications for the Prosperity Initiative are now being accepted on a rolling basis. Early stage and established entrepreneurs are encouraged to reach out to Christopher Mazziotto, director of business development, at christopherm@smifoundation.org or (507) 214-7018. Visit smifoundation.org/prosperity for more information.
The Prosperity Initiative is supported, in part, by State of Minnesota through a grant from the Department of Employment and Economic Development. Partners in this program include Community Economic Development Associates (CEDA), Collider Foundation, Hispanic Advocacy and Community Empowerment through Research (HACER), Region Nine Development Commission, Merchants Bank – Winona and Minnesota Council of Churches – Tapestry Project.
About Southern Minnesota Initiative Foundation
Southern Minnesota Initiative Foundation (SMIF), a donor-supported foundation, invests for economic growth in the 20 counties of south central and southeastern Minnesota. The Foundation has provided more than $154 million in grants, loans and programming within the region during the past 36 years. SMIF’s key interests include early childhood, community and economic development. To learn more about our work and mission, visit www.smifoundation.org.