Prosper Portland has announced the selection of 11 small business assistance providers that will participate in the agency’s newly formed Small Business Technical Assistance Partnership (SBTAP).
The SBTAP brings multiple services for small business into a single network to provide greater efficiencies and cross-functional innovation. It is a citywide program that leverages the power of a partnership network committed to increasing the success of 1,000 underrepresented entrepreneurs.
Prosper Portland and its partners manage a growing portfolio of programs to support minority and women entrepreneurs. These programs support a wide range of businesses vital to the economy of the city, from tech startups to neighborhood retailers. The SBTAP initiative seeks greater impact of those programs through better coordination and communication that will transform the resource landscape for underrepresented business owners.
Prosper Portland will invest $2.5 million among the network providers in FY 2017-18 with the goal of achieving these measurable outcomes by 2020:
- 1,000 businesses strong and stabilized
- 250 businesses achieving growth milestones
- 25 businesses scaling to double or triple their size
- 100 traded sector startups prepared to launch into the market
The following programs and providers will be included in the SBTAP network:
- Asian Pacific American Network of Oregon
- Hacienda CDC
- Hispanic Metropolitan Chamber
- Immigrant and Refugee Community Organization
- Micro Enterprise Services of Oregon
- Native American Youth and Family Center
- Oregon Native American Chamber
- Portland Incubator Experiment
- Portland State University Business Outreach Program
- TiE Oregon
- Xxcelerate Fund
Prosper Portland Executive Director Kimberly Branam said, “This network of small business providers will transform the resource landscape for minority and underrepresented business owners. I’m excited to see Prosper Portland take this next step in its support of Portland’s small businesses, especially those owned by people of color and in low-income communities.”
In addition, Prosper Portland intends to incorporate a professional services component to the network, as well as a North/Northeast Portland (N/NE) business navigator. As part of the N/NE Community Development Initiative Action Plan, Prosper Portland will work with the Plan’s oversight committee to develop a scope and select a partner to help business owners of color in N/NE take advantage of the business support ecosystem and empower them with the right resources to succeed.
