Business Accelerator Programs

The Oklahoma City Community Economic Recovery & Resiliency Study (2021) by EY found that many businesses, particularly minority-owned businesses, continued to face cultural, skills, social mobility, and communication barriers during the COVID-19 economic recovery.

To address those barriers and other pre-existing economic disparities, EY recommended the funding of an inclusive business accelerator. EY noted:

“There [appears] to be some significant challenges […] inhibiting the potential of entrepreneurs of color to move to the next level. These obstacles include—but are not limited to—the absence of a platform for minority founders to connect with investors; and a distinct absence of technical assistance resources and programs that are marketed to underrepresented founders.”

Additionally, the Oklahoma City Community Economic Recovery & Resiliency Study (2021) by EY noted the need for capital to support small businesses. EY recommended a range of small business capital products from existing resources, such as Section 108, GOLT, SIP, and NMTC.

The study recommended partnership with existing accelerator programs and other entities as a means to improve access to funding, technical assistance, and professional networks for underrepresented entrepreneurs and founders. To fulfill this direction from the City and recommendation from the study, the Alliance is partnering with existing OKC Accelerator programs to provide small business owners access to pre-accelerators and accelerators.