Southeast San Diego is getting its first business accelerator. The city of San Diego is pumping up to $2.5 million into boosting business opportunities in lower-income neighborhoods.
The accelerator will be at the Jacobs Center for Neighborhood Innovation and will allow aspiring entrepreneurs access to a coworking space, support services, and necessary office equipment. Management assistance, mentorship, and access to capital will be handled by nonprofit startup accelerator Connect.
“This business accelerator is going to be a real game-changer,” San Diego Mayor Kevin Faulconer says. “Having a network of resources will give entrepreneurs and startup businesses the strategic boost they need to grow and thrive. This is all about creating more opportunities for San Diegans across the city with a special focus on underserved communities.”
City officials wanted to work with an organization with an established entrepreneurial network, prior business development success, and experience in real estate asset management.