Immigrants and their descendants started more than 40% of the Fortune 500 companies in the United States, and the Kauffman Foundation reports that 28% of all new businesses today are started by immigrants. RISE Louisville aims to elevate the number of immigrant entrepreneurs in our region to similar levels.
RISE Louisville’s customized educational and mentoring program prepares a ready, willing and able business aspirant in every aspect of creating and sustaining a successful business. The program is divided into three steps, but is adjusted and individualize for every entrepreneur:
- Intake and Assessment: The first step is an initial evaluation to determine various skill sets such as language and vocational experience.
- Counseling, Education and Mentorship: Next, coaches help cultivate business ideas and assist in obtaining essential training for planning and operating a business. Each entrepreneur is linked with a coach to provide hands-on guidance during the startup of his or her venture.
- Funding and Enterprise Creation: RISE Louisville then recommends viable business concepts for capital based on financial possibilities and engages with various funding mechanisms like conventional loans, forgivable grants, crowd funding and investment partners.
By going through this program, an entrepreneur can become versatile by starting and growing businesses that positively impact job growth and wealth creation. RISE Louisville helps the foreign-born population and their descendants become an integral part of the economic fabric of the United States.
Graduates of RISE Louisville can also create economic corridors within the city by promoting neighborhood revitalization. The availability of successful aspirants and entrepreneurs leads to an increase in capital funding, business partnerships and inroads into international business.