Startup Waco has announced the launch of a new program that they are calling a ” first of its kind business accelarator” aimed at addressing the needs of small businesses.
Called ” Incubatex254,” the program was developed with an emphasis to serve minority and women-owned enterprises while taking into consideration the increased strain placed on these businesses while in the midst of the COVID-19 pandemic.
In the program’s announcement, it was noted that small businesses across the U.S. are struggling to survive. From mandated closures due to the pandemic, to social unrest, to dealing with macroeconomic uncertainty, the challenges in 2020 are continuous and severe.
Sponsored by Extraco Banks and Wells Fargo, Startup Waco will bring together local leaders, officials and business advisors with the expressed goal of targeting businesses in areas most affected by the pandemic.
An advisory board consisting of influential community leaders will oversee the program, working to listen to local entrepreneurs’ needs and work to bring effective solutions.
These types of businesses were selected due to the disproportionate effect the COVID-19 pandemic has had on their sales, supply chains and business models.
Through the program, businesses will meet for six weeks beginning in mid-September, with the aim that participating businesses will be better equipped and connected to face these unprecedented times.