Hampton Roads Chamber and Small Business Development Center of Hampton Roads Seek Applicants for PROPEL and PROPEL-RETAIL Mentor-Protégé Programs
PROPEL is a dynamic and innovative small business development program which is designed to take early stage businesses and help them grow and prosper.
This program is a partnership with the Hampton Roads Chamber of Commerce, the entrepreneur organization SunTrust Bank and the Small Business Development Center of Hampton Roads.
PROPEL consists of an initial seven-week business bootcamp where participants attend half-day training programs to refresh their business knowledge. In conjunction with this is access to technical assistance from the SBDC. Upon completion of the bootcamp, Protégé are introduced to their mentors and a two-year mentoring program begins.
In addition to the two-year mentoring program, Protégés attend a monthly half-day “Protégé Roundup” where progress is celebrated, issues discussed and peer-to-peer mentoring is conducted.
PROPEL was developed by the Knoxville Chamber of Commerce and has proven its success through increased economic growth in a variety of businesses throughout the Innovation Valley Region of Tennessee.
Unlike other programs which focus on a specific portion of the marketplace such as technology or “second stage” companies, PROPEL is designed to help start-ups grow into first-stage companies and for first-stage companies to advance to the second stage.
PROPEL is seeking small businesses with revenues from $100,000 to $1,000,000 to apply for the program. Participants can expect to gain valuable information from classes, technical assistance and mentoring from the region’s most successful firms. The duration of the program is two-years and the cost is $500 per year.