Startup Junkie Consulting received on Monday afternoon the first installment of a $1 million investment from the SBA to administer the ScaleUp America accelerator in the region. Displaying the symbolic check are (from left) Phyl Amerine of SJC, Edward Haddock of the SBA, Jayshica Amargos of SJC, Michael Iseman of SJC, Mayor Lioneld Jordan of Fayetteville, Haley Cleous of SJC and SJC founder Jeff Amerine.
Startup Junkie Consulting of Fayetteville is one of seven organizations across the country selected by the U.S. Small Business Administration to administer a ScaleUp America startup accelerator.
Startup Junkie will run the ScaleUp Ozarks program for 100 regional startups beginning Oct. 22. It will receive up to $1 million from SBA over five years to do so, and on Monday afternoon received a first installment of $200,000.
According to SBA, the ScaleUp America initiative is designed to help grow existing small businesses with average annual revenue of $150,000 to $500,000 while enhancing local entrepreneurial ecosystems. Its focus will be on startups that show the potential to produce measurable economic impact and local job growth.
“We are honored and humbled to be one of seven successful applicants nationally to be funded to run the SBA’s ScaleUp program,” said SJC Founder Jeff Amerine. “With up to $1 million in funding, ScaleUp Ozarks will help good companies become great over the next five years.”
The ScaleUp program also will focus on including more entrepreneurs from underserved communities who frequently lack access to startup resources including growth capital, according to an SBA news release.
“Starting a business is tough; growing a business is even tougher,” SBA Administrator Maria Contreras-Sweet said in the release. “The SBA’s ScaleUp America program offers high potential entrepreneurs the training, support and networks they need to get to scale, enabling them to create three out of every four net new jobs. Small business hiring is the backbone of job growth, and ScaleUp is yet one more way the SBA is working to help entrepreneurs propel our economy forward.”
Like the 2.7.0 accelerator SJC launched earlier this month, ScaleUp Ozarks will focus specifically on women, minority and veteran startup founders.
The program aims to deliver:
- Entrepreneurship education curriculum
- Mentoring and technical assistance
- Aassistance and connections to growth capital
- Opportunities to build and strengthen connections and networks in their community
- Mentor counseling, training and support.
“Studies show sustained job creation and greater prosperity are driven by early-stage companies with validated business models that are able to accelerate growth,” Amerine said. “The Startup Junkie Consulting team will use the ScaleUp Ozarks program as an incredible catalyst to make the chosen 100 companies engines for new job creation.”
The other organizations selected by SBA for the ScaleUp initiative are:
- Thurston EDC BRC, Thurston County, Washington
- Nashville Area Chamber of Commerce, Nashville region, Tennessee
- The Enterprise Center, Philadelphia, Pennsylvania
- Greater Dallas Hispanic Chamber of Commerce, Dallas/Fort Worth, Texas
- University of Texas Rio Grande Valley, Rio Grande Valley region, Texas
- Supply Chain Vistas, Williamsport, Pennsylvania
SJC is optimistic that the program will help local small businesses clear the obstacles that end up derailing many startups.
“This program will allow us the opportunity to go deep with 100 different companies, and help get them over the hurdles they encounter in their efforts of scaling their venture,” said SJC associate consultant and former startup founder Michael Iseman.
Interested entrepreneurs can apply for ScaleUp Ozarks by emailing SJC’s Jayshica Amargos at jay@startupjunkieconsulting.com.
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