What started out as a simple program to make good entrepreneurs in Metro Detroit better has grown into a global program.
The Detroit chapter of Entrepreneurs' Organization launched is own accelerator program in 2006. The aim is to help grow small businesses with six figures of revenue into seven-figure corporations through education and mentorship.
"We want entrepreneurs to continue to learn and grow and become better, stronger leaders," says Matt Farrell, president-election of the
Detroit chapter of Entrepreneurs' Organization and the champion of Entrepreneurs' Organization Detroit Accelerator.
The three-year accelerator program offers a handful of educational seminars, ranging from how to grow sales to how to best deal with human resources. The program also pairs the entrepreneurs with local business people to provide mentorship and help enforce accountability. Most of the
accelerator programs now offered around the world through Entrepreneurs' Organization have 15-22 participants on average.
Entrepreneurs' Organization Detroit Accelerator averages about 20 participants annually. Some of its alumni include
Blue Newt Software (a software firm in downtown Ann Arbor) and
Winning Futures, a non-profit focused on providing mentoring opportunities.
"The program has grown," Farrell says. "We have 17 participants with revenue north of $250,000 but less than $1 million."
Source: Matt Farrell, president-election of the Detroit chapter of Entrepreneurs' Organization
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
Enjoy this story?
Sign up for free solutions-based reporting in your inbox each week.