East LA College Foundation Awarded Grant from MUFG Union Bank Foundation in Support of the ESTEC LA™ Incubator powered by OmniWorks™Posted: Oct/14/2019 12:54 PM
FOR IMMEDIATE RELEASE
October 14, 2019
News Media Contact:
Paul De La Cerda, Dean/Executive Director, ELAC Foundation
(323) 265-8901 | email@example.com
East LA College Foundation Awarded Grant from MUFG Union Bank Foundation in Support of the
ESTEC LA™ Incubator powered by OmniWorks™
October 14, 2019 (Los Angeles, CA) – The East LA College Foundation and LA Center for Entrepreneurship & Innovation announces its second year of the ESTEC LA™ Incubator – powered by OmniWorks™ offering programs to incubate and accelerate startup and growth-phase businesses. The program focuses on serving women, veteran, minority, formerly incarcerated, and LGBTQ owned start-ups in Los Angeles. The program recently secured a $160,000 grant from the Union Bank Foundation.
The ESTEC LA™ Incubator, hosted at the Center for Entrepreneurship & Innovation (CEI) at East Los Angeles College, provides business curriculum and high-touch incubation focused on equitable access to markets, professional service providers, financial resources, and capital. As the first such incubator program for ELAC and the East and Southeast Los Angeles region, built on a rigorous and relevant framework and network of partners, our highly interactive programs enable participants to learn first- hand from successful entrepreneurs,” stated co-founder Paul De La Cerda, Dean of Resource, Economic Development and Innovation & Executive Director of ELAC Foundation. Working with a network of mentors and advisors, the program strives to support economic prosperity, quality job growth, intellectual property development, and emphasizes the growth of generational wealth in under-served communities. The 2019 program begins on November 23rd on the ELAC Corporate Center campus and offers free services to qualified applicants including:
- 2-day Entrepreneur’s Blueprint for Success workshop
- 14-week Optimizing the Entrepreneur program
- Courses integrated with 40 hours of interactive workshops on contemporary business strategies
- 9-month Incubation Lab
- High-touch incubation with executive mentors
- A network of active executives, mentors, and advisors
- Preparation for capital/contract ready presentations
- Certificates of Completion
“The Center and its incubator provide a pathway for students and community members who are interested in launching or growing their entrepreneurial venture or who wish to harness their creative problem-solving skills to boost their professional and career education development.” said Interim President of East Los Angeles College, Dr. Raúl Rodríguez.
“The goal of the second year of the ESTEC LA incubator program, is to expand the resources available in East LA for student entrepreneurs and community business owners including training, capital, and networks that will improve business outcomes, create quality jobs, and build generational wealth.” commented Brent Imai, Founder of OmniWorks™.
“ESTEC LA™ is designed to inspire and engage participants in the technical and fundamental aspects of an entrepreneurial mindset and the unlimited opportunities it can provide.” said CEI co-founder Dr. Armond Aghakhanian, Chief Development Officer of ELAC Foundation.
“Through the foundation, Union Bank is proud to provide financial support to help launch the first business incubator program in the East Los Angeles region,” said Kathy Patoff, Chief Operating Officer, MUFG Union Bank Foundation. “This grant demonstrates our commitment to equipping students, who may have more significant barriers to entry, with the skills and support they need to make their entrepreneurial dreams a reality.”
If you are interested in the program, please visit WWW.ESTECLA.COM.
ABOUT EAST LOS ANGELES COLLEGE FOUNDATION
East Los Angeles College Foundation (ELACF) is an independent 501(c)(3) non-profit organization. The Foundation's singular goal is to support the programs and students of East Los Angeles College. The staff and volunteer Board of Directors embark upon advocacy, building community goodwill and promoting and elevating the College in fulfilling its mission and reaching its goals through marketing and advocacy, community and industry connections, and financial support. The Foundation strives to improve the quality, sustainability, and student involvement in many of the campus programs, such as Entrepreneurship, Logistics, Business Administration, Science, Technology, Engineering & Math (STEM) and Advanced Manufacturing. Community college foundations statewide are expected to play a pivotal role in college advancement and social impact in the years to come and the ELAC Foundation is building social enterprise programs and capacity to lead that charge by launching ESTEC LA™ Incubator – Powered by OmniWorks™. The program name “ESTEC LA™” fuses the words Este “East” and Technology “Tec”, which stands for the region and innovation coming together to create the next generation of entrepreneurial minds and small businesses. To learn more about the ELAC Foundation programs visit: www.elacfoundation.com
OmniWorks™ is an innovative platform that is transforming small business growth. Our mission is: To bring systemic change to existing small business ecosystems, build more effective infrastructures, and provide more relevant programs to achieve higher success rates among underserved entrepreneurs. OmniWorks is upgrading the existing ecosystem of business support by incorporating elements of the tech/venture capital model with place-based and virtual business services, extended mentorship, and equitable access to loan capital for startup and growth phase businesses. OmniWorks’ programs are designed to enhance small business success by helping business owners achieve greater efficiency, create and sustain quality jobs, increase revenues, and generate long term wealth in traditionally underserved communities. For more information visit: www.omniworksus.org.