You may need heard of the $10,000 grants supplied by Verizon’s Small Enterprise Digital Prepared grant program. The monetary grants are some of the well-liked options of the Verizon program, which provides small companies the instruments and assets they should thrive in at present’s digital economic system. Now, Verizon is attempting one thing new with the grant program by focusing on 4 particular communities.
Along with the free programs, teaching classes and mentoring supplied by means of the Verizon Small Enterprise Digital Prepared program, Verizon is launching a primary spherical of group grant funding in 2024 in 4 metropolitan areas: Houston, Los Angeles, Miami and Phoenix. Because the grant program expands in 2024, Verizon, in partnership with LISC, will award over $1.25 million in funding to small companies.
If you’re positioned in a type of 4 communities, first it would be best to register for this system. Then, discover extra particulars on this system by clicking on the FAQ pages to your group right here: Houston, Los Angeles, Miami or Phoenix.
If you’re not in these cities, be happy to register for Digital Prepared now and keep tuned about additional funding from Verizon. That is additionally a great time to take a look at the numerous different points this system affords to small companies and entrepreneurs, from digital expertise coaching to customized studying plans.
This system is free to affix. Register right here to get began.
To be taught extra about Digital Prepared, StartupNation spoke with Brianna Ellison, director of group engagement for Verizon. Ellison elaborates on the work Verizon is doing to assist entrepreneurs and on the advantages of the Small Enterprise Digital Prepared program, together with:
- Entry to free digital expertise coaching and assets
- Monetary help to help digital transformation initiatives
- Alternatives to community with different small enterprise house owners and consultants
- Entry to help from Verizon and its companions
As Ellison explains, Verizon is actively partnering with Michigan small companies to assist them succeed within the digital economic system, together with:
- Verizon has partnered with Grand Valley State College’s Veterans Entrepreneurship Lab to supply grants and help to veteran entrepreneurs.
- Verizon has partnered with the Metro Detroit Black Enterprise Alliance’s Capital Join Program to assist Black-owned companies entry funding and assets.
Under is the total Q&A with Ellison, which StartupNation performed in September 2022.
- What work is Verizon doing within the Detroit/Michigan group to assist small companies?
Verizon has actively partnered with Michigan small companies. We’re members of quite a few chambers of commerce and associations from throughout the state that work with small companies (such because the Detroit Regional Chamber, Grand Rapids Chamber, Dearborn Chamber, The Proper Place, MI Chamber, Automation Alley, Metro Detroit Black Enterprise Alliance, MI Enterprise Incubator Assoc.). Verizon participates in plenty of thought management occasions with these organizations to share experience and assets with their membership.
In 2021, we prolonged a grant to Grand Valley State College’s Veterans Entrepreneurship Lab. Veterans and/or army spouses work on their enterprise launch over a three-month interval. MVE-Lab equips members to establish their goal prospects, community with others, and discover the assets they should launch profitably and efficiently. It concludes with a Pitch Showcase awarding at the least $25,000 in prize cash. Friends embrace different veteran entrepreneurs, mentors, and consultants like attorneys and advertising specialists, together with the chief of Verizon’s veteran worker useful resource group who shared details about Verizon help for small enterprise house owners alongside along with his personal private expertise as an entrepreneur.
In 2021, we additionally established a partnership between Verizon’s Professional Bono Program and the Metro Detroit Black Enterprise Alliance’s Capital Join Program. This program is getting ready and connecting Metro Detroit Black-owned companies to varied funding assets to make sure their sustained success. If any of those companies want additional authorized help or one-on-one help, the Verizon Professional Bono Program staff has agreed to work straight with these companies to establish further authorized providers.
Lastly, in September, Verizon launched Small Enterprise Digital Prepared. This on-line curriculum is designed to offer small companies the customized instruments to reach at present’s digital world. This system contains studying modules, professional teaching, peer networking and a market of instruments and options. The free on-line useful resource is accessible to any small enterprise throughout Michigan (and nationwide) and might be utilized by Verizon companions such because the Black Enterprise Alliance’s Capital Join Program.
- What do you imply by “Digital Prepared” and why is digital readiness necessary for small enterprise house owners at present?
Digital readiness is about ensuring companies have all of the instruments and assets they should thrive in at present’s economic system. The COVID-19 pandemic has imposed unexpected challenges on entrepreneurs and additional accelerated a shift to digital methods of working. Greater than 75% of small companies pivoted their operations as a result of disaster and greater than 50% of SMBs say their on-line interactions with prospects have elevated. To remain aggressive within the new financial surroundings, small companies have to be agile and adapt to shifting shopper preferences.
Small enterprise entrepreneurs perceive the significance of using digital instruments of their day-to-day operations, however discover it difficult to implement significant digital transformation. In keeping with knowledge revealed from Morning Seek the advice of and Verizon of their September 2020 report, “greater than two in 5 determination makers say it’s doubtless that their enterprise will develop by means of digital applied sciences and rely extra closely on communications.” On the identical time, greater than two-thirds of respondents acknowledged that including or transitioning to digital/on-line operations has been difficult for his or her enterprise to handle. How will we bridge this hole? Entrepreneurs want easy accessibility—wherever they’re—to customized studying and training assets to be able to efficiently implement digital methods into their companies and have the boldness to reach the post-pandemic future.
- Why is the Verizon Small Enterprise Digital Prepared program a great useful resource for enterprise house owners in metro Detroit and Michigan?
House to varied analysis organizations and anchor establishments, together with a vibrant and multicultural entrepreneurial ecosystem, Detroit’s wealthy roots embody the hardworking and revolutionary ethos of its numerous small enterprise house owners. Detroit has roughly 50k small companies owned by entrepreneurs of coloration and the town is dedicated to making sure residents are gaining equal entry to academic and financial alternatives of the rising high-growth economic system. In keeping with a 2021 Detroit Ecosystem Evaluation, Detroit has 23% of all startup firms in Michigan and has all the vital assets to launch and develop companies which can be digital prepared. As Verizon seeks to attach BIPOC enterprise house owners throughout the nation with this beneficial useful resource and create extra equitable pathways for entrepreneurs to thrive within the digital economic system, we view the small enterprise house owners within the better metro Detroit space—and Michigan—as a vital consumer base within the effort.
Verizon’s Small Enterprise Digital Prepared program was constructed by (largely BIPOC) small companies for small companies. Jamiel Robinson, the chief director of Michigan-based enterprise growth group, Grand Rapids Space Black Companies (GRABB), was a outstanding voice within the Small Enterprise Advisory Committee that helped form this system and its choices. Numerous material consultants drive our content material, interactive video modules, and training occasions. In brief, entrepreneurs in metro Detroit might be outfitted with digital methods and related learnings—by means of curated curriculum subjects, teaching occasions, and group teams—to use to their companies!
- What steerage are the small enterprise house owners you’re employed with in search of?
We all know typically that small enterprise house owners are excited by studying extra about financing, digital advertising, and operational effectivity. Our customers have informed us they’ve acquired large worth from the tutorial assets and in connecting straight with consultants–by means of each one-on-one mentoring and group teaching occasions. Fifty-eight % of customers on the platform are excited by connecting with a finance professional and 64% of customers on the platform are excited by connecting with a advertising professional. The preferred matter areas are accessing capital, digital advertising, and bettering on-line presence. Enterprise house owners would additionally want to be part of a group the place they’ll be taught from each other, as 52% of customers wish to join with friends with comparable pursuits.
- How can Verizon assist with group networking on a private stage, not a digital one?
Verizon Small Enterprise Digital Prepared is constructed to be a beneficial device to the BDOs, Small Enterprise Improvement Facilities, CDFIs and different organizations which can be on the bottom serving to small companies each day. We’re partnering intently with these kind of organizations and dealing with them to combine our assets into their choices. Small Enterprise Digital Prepared’s group part additionally lets companies join with different companies and assets by metropolis in order that they’ll connect with help of their native space!
On the onset of the COVID-19 pandemic, Verizon started the grassroots work of internet hosting digital group dialogues centered on small companies in communities from throughout the state. The aim of those dialogues is to listen to concerning the nice work small enterprise house owners and small enterprise growth organizations are presently engaged in, the present and ongoing challenges small enterprise house owners are going through, and to debate how Verizon will be supportive transferring ahead. Attendees have included small enterprise house owners, small enterprise help organizations and chambers of commerce.
Now greater than ever, we at Verizon will proceed to construct on the extremely beneficial relationships with the communities we serve. These dialogues are solely the start of what we hope might be long-term partnerships the place we will proceed the dialog and discover future alternatives to be supportive.
- What expertise do you deliver to the group as a liaison between Verizon and small enterprise house owners?
As an area liaison between Verizon and small enterprise house owners, I work to construct bridges of reference to my friends, inner enterprise companions and exterior stakeholders to champion insurance policies that enrich lives and allow a digital future that serves all Michigan communities. I’m able to leverage relationships inside Verizon and with enterprise help group companions to type coalitions to sort out the challenges small companies face, amplify successes and finest practices, and disseminate details about Verizon instruments and assets. Reflexively, I meet with companies to take heed to their wants and drive the way in which by which we deposit goodwill in our native communities and innovate to construct the networks that transfer the world ahead for everybody.
Q&A initially revealed in September 2022.
