Not-for-Profit Program Launched For Minority and Women Entrepreneurs Wins SBA Growth Accelerator Competition

By: PRLog
New Technology Business Accelerator Addresses Current Events
PRLog - Aug. 4, 2015 - NEW YORK -- Minority Venture Partners (MVP), a not-for-profit startup program for commercializing digital, social, and mobile technologies led by minority and women entrepreneurs was announced today as a winner of the 2015 SBA Growth Accelerator Fund Competition. MVP is co-founded and launched by Vanguarde Consulting Group, a certified MBE firm that has become a leading provider of entrepreneurial training, events, and strategy solutions for small business innovation throughout New York City.

"The entrepreneurial ecosystem in America is incredibly exciting and very powerful,” said Javier Saade, Associate Administrator for Office of Investment and Innovation. “Administrator Contreras-Sweet and I welcome this year's Growth Accelerator Fund Competition winners and the important and inclusive work they do in support of innovative and high-growth small businesses." MVP has partnered with the New York Institute of Technology’s School of Management (NYIT-SOM), to provide a collaborative environment where individuals can be mentored by faculty, seasoned entrepreneurs, and professionals; all while accessing a place to build infrastructure and acquire talent. Limited access to private equity and debt financing remain the persistent factors which inhibit both the creation and growth of businesses within minority communities and among women. MVP hence provides comprehensive support in the form of knowledge, networks, and capital to both bring technology products developed by minority and women to market and facilitate profitable exits whenever possible.

“According to Price Waterhouse Coopers Digital IQ Study of 2014, more than 1,400 companies reported 40% increase in emerging digital, social, and mobile (DSM) technologies. Such trends make MVP’s industry focus that much more meaningful,” said D. Bernard Webster, Managing Partner at MVP and Vanguarde Consulting Group. “At MVP, our companies work to provide ad agencies technologies that can transform the way they work and deepen their engagement with millennial consumers. A dedicated DSM Accelerator is just one example of how we’re trying to achieve that goal.” MVP’s first class includes 4 companies currently pioneering technologies that uniquely support the advertising industry; each firm has already introduced minimum viable product to market; and combined have total revenues of more than $1,000,000.

MVP participants are offered the added benefits of business and technical insights from the innovation and media teams at Uniworld Group (UWG). UWG is the nation's longest standing multicultural advertising agency that assists Fortune 50 clients such as Ford, Colgate-Pamolive, the US Marines, Amtrak, and Home Depot reach influential and emerging audiences. UWG provides guidance to MVP founders looking to create successful vendor relationships within the advertising industry, while likewise evaluating each firm for potential contracting opportunities and integration of their technologies into current brand campaigns. In this way, MVP works to further support its accelerator firms by facilitating robust business development opportunities which drive revenue and growth.

MVP Accelerator is committed to generating funding to invest growth capital into more than 50 companies over the next 4 years. Upon completion of the accelerator program, companies will also be able to leverage the broad partner network of the NY Private Equity Forums (NYPEF) which boasts over 3,000 successful entrepreneurs, mentors, investors, and corporate partners. Through the NYPEF, MVP has developed a reliable pipeline to a pool of investors prioritizing the launch, scale, and exit of promising minority ventures.

“We’re definitely excited to see what this new batch of companies will achieve given the support they’ll receive from our partners at NYIT, UWG, and the NYPEF,” said MVP Co-Founders Felix Litvinsky and Charles Albanese. Those companies interested in the MVP Accelerator program can submit their application starting today at http://mvpaccelerator.com. The application submission process is now open. The program’s 2nd class will commence September 2015 and conclude in December 2015 when each team will have the opportunity to present their work to investors, industry leaders, and the community at large.

For more information on the MVP Accelerator, powered by Vanguarde Consulting (http://vanguardenyc.com) and to apply for the program, visit http://mvpaccelerator.com.

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