Economic Growth Business Incubator - Small Biz Start-up and Growth Services's Logo
World Map

Economic Growth Business Incubator - Small Biz Start-up and Growth Services Enable economic development and job creation predominantly in under-served population in the Greater Austin area by utilizing innovative, high-tech, and bilingual approaches in a business training, technical consulting and incubation. EGBI's clients are predominantly low/moderate income & people of color with a majority being women that are interested in owning or running mainly family owned services business.

Accelerator / Incubator

OVERVIEW

Description

The Economic Growth Business Incubator (EGBI), a non-profit 501(c)(3) organization, is a catalyst for entrepreneurship in the under-served community of the Greater Austin area. Although the City of Austin is recognized for its entrepreneurial resources, with more than a dozen incubator-like programs providing the crucial support system for new companies, the reality is that most incubators in the area are technology-related and not minority- or women-focused. This results in a class of underserved minority and women entrepreneurs, who are underrepresented in the high-value and growth industry sectors. The scope of opportunity that could be seized by addressing these issues is staggering for the State of Texas. For example, it is estimated that if Hispanic-owned businesses in Texas were able to perform on par with their mainstream counterparts, they would create an extra $868 billion in value.

One of EGBI’s key objectives is to close gaps like these—to put women and minority entrepreneurs on equal footing with their mainstream counterparts. Through its training programs, Building Success Program (BSP) and Curso Empresarial, EGBI is equipping entrepreneurs with the educational toolset, resources, and network to successfully establish and/or grow their businesses. EGBI provides entrepreneurs with the skills necessary to develop their business plan, establish growth strategies, and develop and improve management, business relations and communication skills.

A lack of employment opportunities leads many women and minorities to open small businesses without having necessary business skills. Self-employed minorities tend to pursue sectors with lower growth, high turnover rates and decreased profitability, e.g., cleaning, landscaping, beauty salons, food industry (restaurants, food trucks, bakeries), construction. EGBI provides its clients with high quality and affordable entrepreneurship training, consulting and incubation services.

PROGRAM DETAILS AND REQUIREMENTS

SUPPORTING VENTURES IN THESE SECTORS

supporting ventures in these regions

TYPES OF COMPANIES ACCEPTED