Partner Community Capital and the National Institute of Minority Economic Development have launched the Eastern NC Entrepreneurial Promise (ENCEP).
Donor Name: Partner Community Capital
State: North Carolina
Counties: Selected Counties
Type of Grant: Grant
Deadline (mm/dd/yyyy): 11/30/2021
ENCEP is a virtual regional incubator for companies owned by minorities and women in underserved counties of eastern North Carolina.
ENCEP serves businesses that:
- Are run by minorities or women
- Are located in economically distressed (Tier I or Tier II) counties in Eastern NC
- Have revenues of less than $250,000 and opportunities to scale.
There is no cost to participants. ENCEP is funded by a generous grant from NC IDEA Foundation.
Program Dates: January 18, 2022 – March 24, 2022.
What’s the Difference between Growth vs. Scale?
- Growth means you are increasing revenue at the same rate as you’re adding resources — your costs keep pace with your revenue.
- Scale, on the other hand, means you increase revenue at a much greater rate than the resources and costs involved.
- Growth is linear while Scale is exponential. Your business scales when investments of time, money and energy in repeatable and predictable processes lead to rapid expansion. If you are a founder who’s focused and prepared to scale your business rapidly, then ENCEP is for you!
The ENCEP program is designed for Eastern NC business owners who are focused and prepared to scale their business exponentially. They are looking for companies who:
- Are eager to learn from experts, work with a mentor, and network with other entrepreneurs;
- Are located east of I-95;
- Have less than $250,000 in annual revenues; and
- Want to scale to $1 million in revenue and/or 50 employees within 5 years.
ENCEP is especially looking for companies run by women and minorities located in Eastern NC’s economically distressed counties (Tier 1 or Tier 2 as defined by the NC Department of Commerce).