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New Accelerator Program To ‘Scale Up’ Black Businesses In Atlanta

By Jack Rattenbury

New Accelerator Program To ‘Scale Up’ Black Businesses In Atlanta

Endeavor Atlanta launches program to help Black entrepreneurs and help Black businesses grow

Black entrepreneurs in Atlanta will soon get a little help to boost their companies growth. The business accelerator Endeavor Atlanta announced the creation of ScaleUpATL — a program exclusively for Black entrepreneurs.

Speaking with Atlanta Business Chronicle, managing director of the project Aaron Hurst said, “We want to make sure that there is not a barrier in our community that is keeping [Black entrepreneurs] from getting the right mentors, the right capital, the right talent into their organizations.”

ScaleUp will provide businesses with access to mentors, capital, talent and markets. Their methods gear entrepreneurs in the right direction and ensure growth.

Credit: ScaleUp ATL

During CO-VID 19, Black-owned businesses in the city were hit hard. Studies showed that many did not expect to remain open, let alone grow.

Only 19% of Black businesses are able reach 10 or more employees, compared to 25% of companies owned by founders from other groups, according to Rachel Kazungu, senior associate for Endeavor Atlanta, citing research the company commissioned.

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Hurst added that the companies who’ll receive the boost will have “already found a level of product-market fit.”

Credit: ScaleUp ATL

The 6-month program is for businesses in the early stages of growth and are already accepting applications. ScaleUp ATL will continue with the application process until April 1. The accelerator is expected to kick off the first week of May.

“If we talk about inequality in this country and the challenges that people of color face, the disparity of wealth is at the center,” said said George Azih, CEO of LeaseQuery and one of 13 member companies in the accelerator. “Entrepreneurship is one of the best ways to close that gap.”

Send us recommendations for our ever-growing list of Black-owned restaurants in Atlanta.

Featured Image: TuckerBlade via Shutterstock