Baker Hill and NACCE Unite to Empower Underserved Founders
CEED to Success is a transformative initiative that focuses on delivering financial readiness, essential business training, and local partnerships through a community college-led approach. This pilot program arises from the collaboration between Baker Hill, a prominent fintech company specializing in cloud-based loan origination, and the National Association for Community College Entrepreneurship (NACCE).
Overview of the CEED to Success Program
CEED to Success aims to support underserved entrepreneurs, including those who are veterans, women, and minority-owned business owners. The program seeks to equip these entrepreneurs with vital business skills, financial literacy, and local connections necessary to secure funding and foster growth. The initiative operates on the belief that when entrepreneurs thrive, entire communities benefit.
A Framework for Community Empowerment
At the heart of this initiative is Baker Hill's Community Entrepreneurial Ecosystem Development (CEED) framework. This concept emphasizes that when entrepreneurs receive the support they need, they contribute positively to their communities. Dirk Soma, director of CEED at Baker Hill, emphasizes that CEED to Success is not merely a program; it serves as a catalyst for systemic change in local economies.
The Role of NACCE in Supporting Entrepreneurs
This pioneering pilot program capitalizes on NACCE's extensive network of community and technical colleges, providing participants with access to training, mentorship, and connections with local partners. Through local workshops, BAIL teams (Banking, Accounting, Insurance, Legal), pitch-readiness training, peer groups, and alumni engagement, entrepreneurs will receive holistic support tailored to their needs.
Strategic Partnerships and Impact
Moreover, the initiative benefits from existing NACCE programs, including STRIVE, which specifically supports transitioning service members in launching their own businesses. Dr. Rebecca A. Corbin, president, and CEO of NACCE, reiterates the importance of empowering colleges to foster entrepreneurial thinking and create sustainable pathways to success.
Engagement and Outcomes Measurement
Twenty select community colleges throughout the nation will actively participate in hosting cohort groups. These colleges will facilitate connections to banks, credit unions, and pertinent local stakeholders. The program will monitor several key performance indicators, including training completion rates, capital access, job creation, and the long-term sustainability of businesses established through this initiative.
Commitment to Inclusive Entrepreneurship
This collaboration advances Baker Hill's commitment to economic growth by promoting inclusive entrepreneurship. By empowering underserved founders, Baker Hill and NACCE aim to ignite innovation and provide opportunities that can the landscape for countless entrepreneurs seeking to make their mark.
About Baker Hill
Baker Hill is recognized as the leading provider of lending technology for banks and credit unions across the United States. Their platform facilitates processing more than $7 billion in loan originations monthly, aiding financial institutions in delivering more effective services to their communities. Headquartered in Carmel, Indiana, Baker Hill continues to innovate and adapt to meet the ever-evolving demands of modern banking.
About NACCE
NACCE comprises educators, administrators, and entrepreneurs committed to igniting entrepreneurship in their respective communities and institutions. With a focus on leadership and resources that catalyze entrepreneurial thought and action, NACCE aims to reshape one of the largest entrepreneurial ecosystems in North America, serving millions of students across various community colleges.
Frequently Asked Questions
What is the CEED to Success program?
The CEED to Success program is a collaborative initiative by Baker Hill and NACCE aimed at empowering underserved entrepreneurs through training, mentorship, and financial readiness.
Who can participate in this program?
Participation is open to underserved entrepreneurs, including veterans, women, and minority-owned businesses, seeking to enhance their business skills and secure funding.
How are local colleges involved in this initiative?
Twenty community colleges will host entrepreneur cohorts, provide training, and connect entrepreneurs to local financial institutions and resources.
What kind of support will participants receive?
Participants will receive mentorship, access to workshops, training on business pitch readiness, and connections to financial and legal teams.
What outcomes will be measured in the program?
Key performance indicators will include training completion rates, access to capital, job creation, and long-term sustainability of businesses developed through the initiative.
