A business accelerator focusing on diversity and low-income communities has been honored by the U.S. Department of Housing and Urban Development (HUD).
CONNECT ALL @ the Jacobs Center received the Secretary’s Award for Public-Philanthropic Partnerships. The honor includes the MUFG Union Bank Foundation for its support of the program.
HUD named just seven recipients nationwide. The Jacobs Center program is the sole recipient from San Diego.
The bank foundation and the City of San Diego have offered financial support to help establish the accelerator.
The program provides entrepreneurs with lessons in scaling their operations, management, and investment relationships, along with mentoring. Services are free and do not require owners to give up an equity stake.
In addition, participating startups have access to a 4,300-square-foot co-working space and business resource center.
CONNECT ALL is funded with Community Development Block Grant funds provided by HUD to the city. MUFG Union Bank N.A. and bkm OfficeWorks add private funding.
The program aims to bring access and opportunity to those disconnected from San Diego’s potent innovation-based economy and startup ecosystem.
To support the community, CONNECT ALL only accepts entrepreneurs who live and work in the City of San Diego.
– Staff reports