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Entrepreneurship For All Inc

 175 Cabot Street Suite 100, Wannalancit Mill, First Floor
 Lowell, MA 01854
[P] (978) 934.6518
[F] --
www.eforall.org
[email protected]
Tracy Sopchak
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INCORPORATED: 2014
 Printable Profile (Summary / Full)
EIN 47-1858182

LAST UPDATED: 08/07/2017
Organization DBA EforAll
Entrepreneurship for All
Former Names Merrimack Valley Sandbox (2014)
Organization received a competitive grant from the Boston Foundation in the past five years No

Summary

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Mission StatementMORE »

Entrepreneurship for All (EforAll) is accelerating economic and social impact through inclusive entrepreneurship in under-served, mid-sized cities.

Mission Statement

Entrepreneurship for All (EforAll) is accelerating economic and social impact through inclusive entrepreneurship in under-served, mid-sized cities.

FinancialsMORE »

Fiscal Year Jan 01, 2017 to Dec 31, 2017
Projected Income $1,678,870.00
Projected Expense $1,493,155.00

ProgramsMORE »

  • Entrepreneurship For All
  • EparaTodos

Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown (%)

No data available

For more details regarding the organization's financial information, select the financial tab and review available comments.


Overview

Mission Statement

Entrepreneurship for All (EforAll) is accelerating economic and social impact through inclusive entrepreneurship in under-served, mid-sized cities.

Background Statement

Origins: Starting in 2010, EforAll (then called the Merrimack Valley Sandbox) began working in Lowell and Lawrence MA to build a thriving, community-based entrepreneurial/economic ecosystem where people and institutions from across the community get involved and encourage entrepreneurship. Throughout our early years, we tested and refined our approach and settled on a cohort-style, community-based, business accelerator model for adults and began realizing success with this model in terms of local businesses launched, jobs created and revenue generated.

Massachusetts Expansion: In 2014, we launched EparaTodos - our first-in-the-nation business accelerator offered in Spanish to serve the primarily Spanish speaking, Latino community in Lawrence and its environs. In 2015, we launched our South Coast site to cover the cities of Fall River and New Bedford Massachusetts. In 2017, we launched our Lynn site.
 
National Expansion: In 2016, EforAll was awarded a 3-year grant from the Draper Richards Kaplan Foundation to explore options to scale our model across the country. We were also named one of only a dozen 2016 Ewing Marion Kauffman Inclusion Challenge winners nationally in recognition of our inclusive entrepreneurial vision. We are building upon our $420,000 Kauffman award and developing an Internet-based communication toolset to enable us to quickly bring new sites online across the country.
 

EforAll Approach: We believe that fostering entrepreneurship is one of the most empowering forms of social service because it transforms people in need of help into people capable of providing for their own needs. We provide the encouragement and support entrepreneurs need to be willing to invest in their entrepreneurial dreams while we invest in their inherent abilities and ambitions. We enable people to create their own pathway out of poverty for themselves and their children, while creating local jobs and generating local revenue. Our approach is predicated upon the understanding that under-networked and under-funded groups face barriers to entry into entrepreneurship which impede their success. We therefore provide these would-be entrepreneurs with the 3 necessary components for success that they so frequently lack, namely: business know-how, access to capital and a professional network. 

 

Impact Statement

Accomplishments in 2016/2017: Over the past year, we have achieved several key milestones including: {1} Launch of our 4th EforAll Site in Lynn Massachusetts; {2} Being named a 2016 Ewing Marion Kauffman Inclusion Challenge winner and leveraging that award into a $10M national expansion campaign; {3} Graduating the most entrepreneurs from our accelerator program in a single year to date: 69 graduates in 2016 from 3 sites; {4} The opening of our EparaTodos office and co-working space in Lawrence at 60 Island Street which serves as a small business incubator in the city.

Goals for 2017/2018: Over the next 12 months, our goals include: {1} Expansion of EparaTodos to our Lynn site; {2} Introduction of a 5th EforAll Site; {3} Reaching our $10M national expansion campaign goal (already at 50%); {4} Completion of the first 3 videos in our Internet-based communication toolset (described below), including a Mentor Marketing Video for mentor recruitment, a Mentor Instructional Video to inform prospective mentors about the EforAll mentoring experience and a Pitch Contest Overview Video for new EforAll Executive Directors and Program Managers to cover the basics of EforAll pitch contests.
 
Impact to Date: Since 2010, we have graduated 235 alumni from the 3-month intensive portion of our business accelerator and they have launched a total of 207 ventures (small businesses or nonprofits). To date, we have compiled detailed data from the entrepreneurs who have completed our full 12-month program. From these 152 ventures: 82% of accelerator graduates are still actively working on their ideas, they have created 271 full/part time jobs, raised $7.0 million in capital, generated $5.2 million in annual revenues in the past year and produced $3.2 million in total payroll in the past year. And we are reaching our intended demographic. Our entrepreneurs were: 57% unemployed (when they started the program); 70% female; 41% immigrant; and/or 55% minority.

Needs Statement

1. $10M National Expansion Campaign: We currently use a resource-intensive apprenticeship-based expansion method to launch new sites. As we look to scale nationally, we need instead an Internet-based communication toolset to convey the knowledge and skills required to launch and run a new site and manage it effectively. EforAll is a 2016 Ewing Marion Kauffman Foundation's Inclusion Challenge winner. We are building upon this $420,000 award to raise the $10M required for us to develop the toolset so that we can scale nationally.
  
2. EparaTodos Expansion & Mentors: EparaTodos is our program offered entirely in Spanish with key cultural adaptations. We struggle to find enough Spanish-speaking mentors to offer the same 3-1 ratio that the English language program provides. We intend to use our Internet-based communication toolset to tap into a national Spanish-speaking mentor pool.  We are also seeking funds to expand EparaTodos to other sites with significant Latino populations, including Lynn, Massachusetts.
 
3. New EforAll Host Cities: We are currently in conversation with a half dozen cities from New England, to the Mid Atlantic, to California who are hoping to bring EforAll into their community. We require a $1M investment over the first 3 years to launch a new EforAll site. We welcome interested cities to contact us to learn more about the benefits to the local economy of having an EforAll site.

CEO Statement

We at EforAll firmly believe in the American dream of entrepreneurship - that all Americans should be able to succeed in starting a business. What we've found is that besides a good idea and a strong work ethic, knowledge and a professional network are also crucial for entrepreneurial success. Too many beginning entrepreneurs in the US lack basic understanding of how to start a business, and as well they don't have a network of people who can guide them and introduce them to key people and institutions. EforAll is helping entrepreneurs who may lack the "social capital" to successfully launch a business through a comprehensive training program and a community-based network of mentors and experts.
 
EforAll is concentrating its efforts in the nearly 300 mid-sized cities in the US. The vast majority of these cities are struggling economically and socially, facing the challenges of a declining manufacturing job base and more and more residents looking to achieve a sense of control over their lives. Entrepreneurship can help with both issues.
 
We believe that the best way to revitalize midsized U.S. cities that have fallen into decline and suffer high rates of poverty and unemployment is to fuel the dreams and ambitions of entrepreneurs who live in and near these cities. We believe they understand their city and its problems better than anyone else and have ideas and solutions with the potential to make their city prosper once again while they create their own pathway out of poverty.

Board Chair Statement

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Geographic Area Served

NORTHEAST REGION, MA
SOUTHEAST REGION, MA
STATEWIDE
METROWEST REGION, MA
EforAll currently serves the cities of Lowell, Lawrence, Lynn, Fall River and New Bedford Massachusetts. We are currently developing an Internet-based communication toolset to enable us to scale our model to 65, mid-sized cities across the country by 2024.

Organization Categories

  1. Community Improvement, Capacity Building - Economic Development
  2. Employment - Management & Technical Assistance
  3. Education - Adult Education

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)

No

Programs

Entrepreneurship For All

At EforAll, we have developed an innovative small business/nonprofit accelerator to foster entrepreneurial growth in the mid-sized cities that we serve. Our programs:
 
>Introduce and celebrate entrepreneurship into the local culture using pitch contests and other public events.
 
>Foster community engagement by utilizing community members and leaders as experts, judges, mentors, advisers & partners.
 
>Prepare entrepreneurs with a 12-week intensive session to cover business startup ‘nuts and bolts’ including: accounting & budgeting, when to use a lawyer, fundraising, presentation skills, effective use of marketing & social media, pricing, strategy using Stanford’s Business Model Canvas & iterative testing of assumptions using the Lean Startup methodology.
 
>Support entrepreneurs by providing a mentor team, advice, guidance & a built-in professional network.
 
>Invest in the most promising ventures with  cash awards.
 
>Celebrate success and inspire others through award celebrations and outreach!
Budget  $1,635,000.00
Category  Community Development, General/Other Community Economic Development
Population Served Adults Females Minorities
Program Short-Term Success  In the short term, our success is best measured by the percentage of our graduates who are still actively working on their ideas. Currently, an astounding 82% of our graduates are still active. In time, they will each create jobs and generate revenue that will form the backbone of the local economic revitalization.
Program Long-Term Success  Ultimately, in each city served by EforAll, we envision the lasting impact of our work to be a vibrant and self sustaining entrepreneurial ecosystem. We seek to foster a local community that celebrates entrepreneurship and has developed the structures needed to continually foster and fund the development of new business ideas. We envision a community with a vibrant and diverse downtown with a variety of interesting and unique stores and restaurants, art studios and yoga studios, farmers markets and festivals, coffee shops and craft stores that are bustling with activity and reflective of the people who live there. We envision a city with a strong and collaborative local economy where innovation thrives and where unemployment and poverty are rare. Collectively, we envision these cities comprising a country where people feel hopeful about their future, empowered to realize their dreams and educated about how to launch and grow their business. By 2024, we intend to have an EforAll site in place in 65 cities across our country and 6,500 entrepreneurs having graduated through our program. There are 300 such cities that we are targeting, however, so we won’t stop there. We’ll keep going until everyone in our country has the freedom and the resources to realize their American Dream.
Program Success Monitored By 
Each year, in every EforAll city that we serve, we will engage 1,000 people through our events and social media, assist over 150 businesses with technical assistance and support and graduate 30 entrepreneurs through our accelerator.
 
We track the success of our accelerator graduates starting one year after their launch and every year thereafter in terms of jobs created, revenue generated, total payroll & capital raised. Since 2010, we have graduated 235 alumni from our business accelerator who have launched a total of 207 ventures (small businesses or nonprofits). To date, we have compiled detailed data from 7 cohorts. From these 100 ventures: 82% of accelerator graduates are still actively working on their ideas, they have created 271 full/part time jobs, raised $7.0 million in capital, generated $5.2 million in annual revenues in the past year and produced $3.2 million in total payroll in the past year. And we are reaching our intended demographic. Our entrepreneurs were: 57% unemployed (when they started the program); 70% female; 41% immigrant; and/or 55% minority.
 
Examples of Program Success  Andreina immigrated to the U.S. from Puerto Rico as a child and grew up in poverty under her grandmother's care. Andreina had her first baby at just 16 years old. Through perseverance, Andreina earned her bachelor's degree and landed a job at MIT coordinating an entrepreneurship program. Inspired, Andreina launched Viera Admin Solutions (VAS) in October of 2016 to employ a workforce of local, stay-at-home mothers who are looking to help make ends meet, as administrative staffers for clients who need administrative help but are not in the position to hire people permanently. Although Andreina had a strong sense of mission and knew how to provide administrative services to clients, she didn’t know how to make VAS profitable. Andreina received vital technical and practical business knowledge, an expanded her professional network and $6,000 in funding though EforAll. VAS is taking off quickly and is already providing 10 local jobs. 

EparaTodos

EparaTodos is EforAll's Spanish-language version of our business accelerator, pitch contests and all other program components found in our English-language equivalent program. (Please refer to the Entrepreneurship for All program for more details).
 
  
In addition to offering all services in Spanish, EparaTodos introduces additional cultural adaptations to the standard EforAll model to best serve the Latino entrepreneurial community. EparaTodos’s accelerator, "Negocios Exitosos” (Successful Businesses): {1} serves existing small businesses as well as start-ups to meet the strong need for services among struggling Latino small business owners; {2} provides comprehensive, culturally oriented hands-on business training for immigrants who particularly need help understanding and navigating the US capitalist system to avoid lending predators and bad professional advice - which often leads to future trouble securing loans; {3} includes U.S. legal and tax issues; local/state permits; human resources and labor laws; linguistic considerations and cultural issues; business ESOL classes; {4} "Encuentros Empresariales” (Entrepreneurial Networking) meetups designed to increase business activities among entrepreneurs, business owners, and the community.
 
Budget  $250,000.00
Category  Community Development, General/Other Community Economic Development
Population Served Hispanic, Latino Heritage Females Immigrant, Newcomers, Refugees
Program Short-Term Success  In the short term, our success is best measured by the percentage of our graduates who are still actively working on their ideas. Currently, an astounding 82% of our graduates are still active. In time, they will each create jobs and generate revenue that will form the backbone of the local economic revitalization.
Program Long-Term Success  Ultimately, in each city served by EparaTodos, we envision the lasting impact of our work to be a vibrant and self sustaining entrepreneurial ecosystem. We seek to foster a local community that celebrates entrepreneurship and has developed the structures needed to continually foster and fund the development of new business ideas. We envision a community with a vibrant and diverse downtown with a variety of interesting and unique stores and restaurants, art studios and yoga studios, farmers markets and festivals, coffee shops and craft stores that are bustling with activity and reflective of the people who live there. We envision a city with a strong and collaborative local economy where innovation thrives and where unemployment and poverty are rare. Further, we envision every Spanish-speaking Latino entrepreneur that we serve to feel empowered to create a business in America and to have the English language skills needed to expand that business beyond the Latino community.
Program Success Monitored By  We survey our alumni to track the success of their ventures starting 12 months after their launch and every 12 months thereafter in terms of jobs created, revenue generated, total payroll & capital raised.
Examples of Program Success  Bibiana immigrated from Colombia 10 years ago. When she first approached EparaTodos, she was unemployed but was providing yoga classes to friends and family as a hobby. EparaTodos worked with Bibiana and helped her turn her hobby into a for-profit business. When Bibiana approached EparaTodos she had no knowledge of creating a business model that would work for her nor did she have a working understanding of legal business issues, marketing or cash flow. She received over 30 hours of business training and 1 on 1 mentoring from EparaTodos. In Oct 2016 Bibiana started providing Yoga en Espanol in collaboration with another EparaTodos entrepreneur who launched her modeling academy that same month. On November 14, Bibiana opened her own yoga studio in Lawrence and is now offering 3 different packages to the Lawrence community and surrounding towns. Currently, EparaTodos is working with Bibiana to formulate a plan of branching out her services by offering corporate yoga.

CEO/Executive Director/Board Comments

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Management


CEO/Executive Director Mr. David Parker
CEO Term Start Dec 2011
CEO Email [email protected]
CEO Experience
As the CEO for EforAll, David is working with a broad cross-section of community members in different mid-sized cities to identify entrepreneurs, encourage them to propose their ideas, and help them improve their business and non-profit organizations.
  
Prior to joining EforAll in early 2013, David spent 15 years working on six entrepreneurial ventures, in some cases as part of the initial team and in others as the founder or co-founder. Four of these companies achieved significant success: Viaweb was sold to Yahoo, Direct Hit was acquired by Ask Jeeves, TripAdvisor continues today as a standalone public company (NASDAQ: TRIP), and SoundBite Communications went public and then was acquired by Genesys. Prior to his time with Internet startups, David worked in the publishing industry for a variety of magazine and newspaper companies, including International Data Group, Time Magazine, and the Fort Worth Star-Telegram. David has an MBA with honors from Harvard Business School and a B.A. with honors from Harvard College. In 2016, David was named a Draper Richard Kaplan Entrepreneur.
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
Mr. John Conley Chief Operating Officer John Conley, Chief Operating Officer EforAll: As the Chief Operating Officer beginning in 2015, John is building the organization’s infrastructure for managing EforAll’s expansion into new territories. His responsibilities include finance, human resources, training, impact measurement, and IT. Previously John worked in the life sciences industry. He co-founded Gilliam Capital LLC, a life science investment firm, and was a co-founder of the RNA interference company Alnylam Pharmaceuticals where he held the position of Vice President, Strategy and Finance and CFO through to its successful 2004 IPO. He held a variety of positions at Transkaryotic Therapies and Biogen in marketing, business development, sales and finance. He was a Manager at the strategy consulting firm of Bain & Company and has recently been Board Chair of The YMCA of Greater Boston and of The Jericho Road Project. Mr. Conley graduated with a Bachelor’s in Economics from the University of Pennsylvania’s Wharton School and an MBA from the Yale School of Management. He was a 2014 Fellow in the Advanced Leadership Initiative at Harvard University.

Awards

Award Awarding Organization Year
-- -- --

Affiliations

Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --

Collaborations

--

CEO/Executive Director/Board Comments

--

Foundation Comments

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Staff Information

Number of Full Time Staff 13
Number of Part Time Staff 0
Number of Volunteers 300
Number of Contract Staff 0
Staff Retention Rate % 70%

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 2
Caucasian: 6
Hispanic/Latino: 5
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 5
Male: 8
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Under Development
Organization has Strategic Plan? Under Development
Years Strategic Plan Considers N/A
Management Succession Plan No
Business Continuity of Operations Plan No
Organization Policies And Procedures No
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy No
Directors and Officers Insurance Policy No
State Charitable Solicitations Permit Yes
State Registration --

Risk Management Provisions

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Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency No N/A
Senior Management Formal Evaluation and Frequency Yes Semi-Annually
Non Management Formal Evaluation and Frequency Yes Semi-Annually

Governance


Board Chair Mr. Rajendra Melville
Board Chair Company Affiliation Deshpande Foundation
Board Chair Term Sept 2016 - Nov 2016
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Mr. Servjeet Bhachu Sparta Group Voting
Ms. Gail Goodman Formerly w/Constant Contact Voting
Ms. Nathalie Laidler-Kylander Draper Richard Kaplan Foundation Voting
Mr. Rajendra Melville Deshpande Foundation Voting
Mr. David Parker EforAll Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 2
Caucasian: 3
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 0
Other (if specified): 0
Gender Female: 2
Male: 3
Not Specified 0

Board Information

Board Term Lengths 1
Board Term Limits --
Board Meeting Attendance % 100%
Written Board Selection Criteria No
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions 100%
Constituency Includes Client Representation Yes

Standing Committees

    --

CEO/Executive Director/Board Comments

--

Foundation Comments

--

Financials


Revenue vs. Expense ($000s)

Expense Breakdown 2016 (%)

Expense Breakdown 2015 (%)

Expense Breakdown (%)

No data available

Fiscal Year Jan 01, 2017 to Dec 31, 2017
Projected Income $1,678,870.00
Projected Expense $1,493,155.00
Form 990s

2016 EforAll 990

2015 EforAll 990

2014 EforAll 990-N

Audit Documents

2016 EforAll Audit

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2016 2015 --
Total Revenue $1,545,475 $418,406 --
Total Expenses $1,118,919 $99,827 --

Prior Three Years Revenue Sources

Fiscal Year 2016 2015 --
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 $0 --
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified -- $0 --
Individual Contributions $1,521,039 $328,687 --
Indirect Public Support -- $0 --
Earned Revenue $5,969 $770 --
Investment Income, Net of Losses -- $0 --
Membership Dues -- $0 --
Special Events -- $75,969 --
Revenue In-Kind -- -- --
Other $18,467 $12,980 --

Prior Three Years Expense Allocations

Fiscal Year 2016 2015 --
Program Expense $794,915 $54,017 --
Administration Expense $169,080 $45,810 --
Fundraising Expense $154,924 $0 --
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.38 4.19 --
Program Expense/Total Expenses 71% 54% --
Fundraising Expense/Contributed Revenue 10% 0% --

Prior Three Years Assets and Liabilities

Fiscal Year 2016 2015 --
Total Assets $760,191 $314,875 --
Current Assets $760,191 $314,875 --
Long-Term Liabilities -- $0 --
Current Liabilities $22,325 $3,565 --
Total Net Assets $737,866 $311,310 --

Prior Three Years Top Three Funding Sources

Fiscal Year 2016 2015 --
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value --
Spending Policy N/A
Percentage(If selected) --
Credit Line No
Reserve Fund No
How many months does reserve cover? --

Capital Campaign

Are you currently in a Capital Campaign? Yes
Capital Campaign Purpose Develop online communication toolset and increase Headquarters staff capacity in order to scale nationally.
Campaign Goal $10,000,000.00
Capital Campaign Dates Jan 2016 - Dec 2022
Capital Campaign Raised-to-Date Amount $5,600,000.00
Capital Campaign Anticipated in Next 5 Years? No

Short Term Solvency

Fiscal Year 2016 2015 --
Current Ratio: Current Assets/Current Liabilities 34.05 88.32 --

Long Term Solvency

Fiscal Year 2016 2015 --
Long-term Liabilities/Total Assets 0% 0% --

CEO/Executive Director/Board Comments

2015 FINANCIAL FILING EXPLANATION
In 2010, the Deshpande Foundation supplied funding for The Merrimack Valley Sandbox, a new social venture operating in Lowell and Lawrence, Massachusetts. This new venture was never incorporated, and operated as a “project” using the University of Massachusetts Lowell as a fiscal sponsor. All the initial funding was provided by Deshpande Foundation and it flowed through UML to fund the Sandbox’s activities.
 
In preparation for an expansion into other cities outside of the Merrimack Valley, the name was changed in 2014 to Entrepreneurship For All, and a formal application was made for 501c3 nonprofit status on August 29, 2014. EforAll, as we are known, was granted this designation on February 10, 2015. We made the required state and federal tax filings for 2014 but there were no revenues or expenses, or assets, in that year that were not already part of the University of Massachusetts Lowell.
 
Beginning in calendar year 2015 EforAll produced financial statements for our tax filing obligations, but these represent only a portion of the total expenses associated with our activities, specifically those not funded by Deshpande. As of January 1, 2016, our sources of cash have diversified so that Deshpande Foundation now comprises a minority portion of our revenue. In 2016 100% of our revenue, expenses, and balance sheet assets and liabilities are depicted in our statements.

Foundation Comments

Financial information included was derived from the organization's 990 forms for 2015 and 2016, which were provided by Entrepreneurship For All, Inc. The organization's 2014 financial document is a form 990-N and did not have relevant financial data.


Documents


Other Documents

No Other Documents currently available.

Impact

The Impact tab is a section on the Giving Common added in October 2013; as such the majority of nonprofits have not yet had the chance to complete this voluntary section. The purpose of the Impact section is to ask five deceptively simple questions that require reflection and promote communication about what really matters – results. The goal is to encourage strategic thinking about how a nonprofit will achieve its goals. The following Impact questions are being completed by nonprofits slowly, thoughtfully and at the right time for their respective organizations to ensure the most accurate information possible.


1. What is your organization aiming to accomplish?

Our core motivation is to enable more people in our country to share in the prosperity of our time and to counteract the alarming trend toward income inequality in our country. We believe that every American interested in entrepreneurship should have equal opportunity to pursue their dream and that our national economy would be greatly enriched and strengthened by a more diverse entrepreneurial pool. Our client base is very diverse and reflects the diversity of the mid-sized cities that we serve. People from these communities come to us with a wide variety of business ideas and a strong entrepreneurial spirit but they face a variety of challenges to starting a businesses or nonprofit. There are few resources available to these people in the cities that they live to assist them in making their business dreams a reality. EforAll therefore, seeks to address the yawning gap in existing accelerator services available for marginalized populations in mid-sized, U.S. cities. True to our name, EforAll welcomes all people, however we situate ourselves in these cities in order to best reach our target population which includes women, minorities, immigrants and unemployed persons.
 
Our approach is predicated upon the understanding that under-networked and under-funded groups face barriers to entry into entrepreneurship which impede their success. We therefore provide these would-be entrepreneurs with the 3 necessary components for success that they so frequently lack, namely: business know-how, access to capital and a professional network. Our goal is to be serving 65 mid-sized cities across the country by 2024 with our inclusive entrepreneurship accelerator.
 

2. What are your strategies for making this happen?

EforAll is innovative in our approach to social service and economic development. We do not simply meet the needs of disadvantaged people today, we help them build their own capacity to provide for themselves. We believe that fostering entrepreneurship is one of the most empowering forms of social service because it transforms people in need of help into people capable of providing for their own needs. We provide the encouragement and support entrepreneurs need to be willing to invest in their entrepreneurial dreams while we invest in their inherent abilities and ambitions. We enable people to create their own pathway out of poverty for themselves and their children, while creating local jobs and generating local revenue.
 
EforAll fosters entrepreneurial growth in the mid-sized cities that we serve with pitch contests and other public events that attract entrepreneurs to share their ideas. We provide workshops, meetups, and one-on-one technical assistance that play a key role in helping entrepreneurs launch their business or nonprofit. With the recognition that entrepreneurs need an environment conducive to their success, our approach is designed to build a supportive entrepreneurial ecosystem in these cities. Each site leverages the efforts of over 100 community and business leaders as advisers, mentors, judges, readers and experts. This group forms the backbone of the entrepreneurial ecosystem and becomes part of the EforAll family.
 
Each year, every EforAll site engages ~1,000 people in their community through events and social media. They provide direct assistance to over 150 businesses each year through technical assistance and other support. But the heart of our programming is our year-long business accelerator. This is where we apply our full strength on behalf of our entrepreneurs. We provide entrepreneurs with the 3 necessary components for success that they so frequently lack, namely: business know-how, access to capital and a professional network. The accelerator is a year-long program that starts with a 12-week intensive, high-touch, classroom style program through which we teach the nuts and bolts of starting a business. Each site graduates 30 entrepreneurs every year through our accelerator which provides them with: {1} regular classroom lessons; {2} a dedicated mentor team; {3} $30,000 in prize award funding per 15-member cohort; and {4} co-working space for 1 year. Once they graduate, our alumni join our growing alumni network and the growing EforAll family. We remain engaged with our alumni on an ongoing basis. We provide them with technical assistance as needed and referrals to other organizations in our vast network who may be better positioned to help them.

3. What are your organization’s capabilities for doing this?

EforAll is led by a CEO and a COO with extensive experience in founding successful technology and internet companies, developing grassroots and online strategic marketing strategies, and over 30 years combined experience mentoring entrepreneurs & advising small businesses. EforAll's 5-person Board of Directors includes a representative of the Deshpande Foundation and the Draper Richards Kaplan Foundation. Our board members are entrepreneurs themselves or are closely connected to organizations that foster entrepreneurship.
  
Each EforAll site is led by an Executive Director who oversees all operations for that site including the program, partnerships and fundraising/marketing efforts. The site staff team also includes a Program Manager who primarily assists with program implementation and marketing. The EforAll Headquarters office provides significant site support in the form of marketing and development efforts, human resources, payroll, accounting and technical support.
  
Additionally, each site leverages the efforts of over 100 local business and community leaders each year. Each site is supported by an 8-10 person Leadership Advisory Board comprised of community leaders who assist the Executive Director primarily with outreach and networking. Local business leaders serve as mentors our entrepreneurs and help them succeed. Each cohort class requires 45 mentors. Content experts are used to teach our accelerator classes. Each cohort class uses 10-12 local experts. Community members serve as readers and provide feedback to our entrepreneurs on their applications to our pitch contests and to the accelerator. We use 20-25 readers each year. Community leaders serve as Judges to help decide the winners of our pitch contests and accelerator. We utilize the services of 20-25 judges each year. Institutional partners assist each site by providing co-working and meeting space and they help with community outreach. Each site has 8-10 key institutional partners.

4. How will your organization know if you are making progress?

We track the success of our ventures starting one year after their launch and every year thereafter in terms of jobs created, revenue generated, total payroll & capital raised. Since 2010, we have graduated 235 alumni from our business accelerator who have launched a total of 207 ventures (small businesses or nonprofits). To date, we have compiled detailed data from 7 cohorts. From these 100 ventures: 82% of accelerator graduates are still actively working on their ideas, they have created 271 full/part time jobs, raised $7.0 million in capital, generated $5.2 million in annual revenues in the past year and produced $3.2 million in total payroll in the past year. And we are reaching our intended demographic. Our entrepreneurs were: 57% unemployed (when they started the program); 70% female; 41% immigrant; and/or 55% minority.

5. What have and haven’t you accomplished so far?

We have developed a robust and scalable model for community-based, inclusive entrepreneurship development. We have refined our model over the years, proven the model's success, and successfully replicated that model in new cities. However, we currently use a resource-intensive, apprenticeship-based expansion method to launch new sites. As we look to scale nationally, we need instead an Internet-based communication toolset to convey the knowledge and skills required to launch and run a new site and manage it effectively. EforAll is a 2016 Ewing Marion Kauffman Foundation's Inclusion Challenge. We are building upon this $420,000 award to raise the $10M required for us to develop the toolset so that we can scale nationally.

We have developed a strong business accelerator program in English. However, early on, we realized that we were not pulling in enough Spanish-speaking Latino residents in one of our two origin cities, Lawrence Massachusetts. We therefore launched EparaTodos which is our program offered entirely in Spanish and has key cultural adaptations. EparaTodos serves existing small businesses as well as start-ups to meet the strong need for services among struggling Lawrence small business owners. EparaTodos provides comprehensive, culturally oriented hands-on business training for immigrants who particularly need help understanding and navigating the US capitalist system to avoid lending predators and bad professional advice - which often leads to future trouble securing loans. In addition to the topics covered by EforAll's accelerator, Negocios Exitosos topics also include: U.S. legal and tax issues; local/state permits; human resources and labor laws; linguistic considerations and cultural issues; business ESOL classes. In addition to hosting pitch contests, EparaTodos regularly also offers “Encuentros Empresariales" (Entrepreneurial Networking) meetups designed to increase business activities among entrepreneurs, business owners, and the community. We are proud of the work we have done to develop EparaTodos. However, we struggle to find enough Spanish-speaking mentors to offer the same 3-1 ratio that the English language program provides. We intend to use our Internet-based communication toolset (described above) to tap into a national Spanish-speaking mentor pool.