Legal-name: CSULB Institute for Innovation & Entrepreneurship
Address: 1250 Bellflower Blvd., California State University, Long Beach
City: Long Beach
Organizational-status: 501(c)(3), educational
Officer: Wade E. Martin, Professor & Director
ContactName: Wade Martin
Title: Professor & Director
GrantPurpose: These resources will be used to create a program that supports small businesses and start ups to prepare and/or revise their business and/or marketing plans that will strengthen the business and help prepare them for success coming out of the pandemic.
Periodoftime: April to August 2020
Audienceserved: small businesses and startups in the Long Beach area.
Demoofaudience: The program will support businesses from the diverse community of Long Beach with a focus on low-income businesses, women-owned, and communities of color.
Numberofserved: The program is designed to support up to 20 businesses.
District: This program will support businesses across all districts
1. What disaster recovery service have already been provided? The Institute has focused on two areas: 1) supporting small businesses raise working capital through the KIVA program. As a KIVA Trustee we have supported the campaigns for two entrepreneurs. Our efforts are focused on helping to develop the messaging for the application and the development of the business case for the loan. We are also advising businesses as to whether or not the KIVA loan is the best option for their situation, should they be taking on debt at this time? 2) We are providing business advising to startups, primarily related to opportunities through the CARE Act funds, other opportunities (such as Facebook) and KIVA. We are also supporting the efforts of other local groups such as Accelerate Uptown that are engaged in working directly with community members.
2. What disaster recovery service will be provided by this grant? : This support will allow us to leverage advanced graduate students in the MBA program and recent graduates to form a team under the direction of the director and associate director of the Institute. The teams will then work with businesses that have been negatively affected by COVID-19 and need to pivot their business model or develop a new marketing strategy to remain in contact with their customers in order to take advantage of new opportunities to grow their business online and to be prepared when their markets reopen. We will also advise the businesses as to the opportunities and support available from the CARES Act, the city of Long Beach and other sources.
3. What individuals (and/or organizations) will you assist? : We will target 20 businesses through our outreach program and referrals. We have a network of businesses that have gone through our programs over the last 2.5 years and we will reach out to assist them. We will also work with other organizations such as Centro CHA and the United Cambodian Community to provide assistance.
4. What other disaster recovery funds have you received? What amount?: At this point we have not received any disaster recovery funds.
5. What other disaster recovery funds have you applied for?: We are soliciting funds from the Wells Fargo Foundation to match support from this proposal.