Drive Minority Business Accelerator powered by ExxonMobil

Apply for the Program

Applications for the inaugural Drive Minority Business Accelerator powered by ExxonMobil cohort are now closed.

Program Overview

In partnership with Interise’s award-winning StreetWise 'MBA'™ curriculum, BRAC brings you Drive Minority Business Accelerator powered by ExxonMobil.

The annual program is designed for minority small business owners who want to take their business to the next level within the Capital Region. This hands-on, cohort-style program provides minority business owners with the knowledge, resources, and networks necessary for their businesses to scale.

Drive powered by ExxonMobil will provide participants with the tools to advance their business operations, financial management, marketing and sales, human resources, business strategy development, access to capital, and contract development. Additionally, participants will receive increased access to opportunities, shared administrative services, mentor protégé, and a growth coach.

Participant Preferred Characteristics

(The following characteristics are preferred, firms are vetted on a case-by-case basis)

– Annual Revenue

Over the last three to five years, the company has demonstrated revenues of at least $500,000

– Employees

The company employs at least three full-time employees

– Lawful Function

Organized for profit to perform a lawful, commercially useful function

– Place of Business

Domiciled and/or operates within the nine-parish Capital Region

– Growth

Company has a defined growth strategy that indicates a strong potential for accelerated growth in two to five years

– Focus Demographic

At least 51% owned and operated by a minority

National Program Results

Based on 2021 assessment data collected by Interise:

55% of alumni businesses increased or maintained their annual revenues, with an average annual revenue growth of 13%
71% of alumni businesses reported being profitable
$327 million in government contracting secured by alumni businesses
60% of alumni CEOs stay connected to fellow participants, with 29% doing business with each other
60% of alumni businesses added or retained jobs

Selection Process

Complete and submit application between June 8 and July 29
The Advisory Council reviews the application between August 1 and August 15
Applicants will be emailed a notification of whether they have been accepted during the period of review
If applicant is accepted, BRAC will provide the 10-month program schedule
Accepted applicant signs participant agreement committing to attend at least 80% of sessions
Program to begin in September 2022

Tuition

Program tuition is $600 for BRAC investors and $1,000 for non-investors.

Part of tuition for non-investor participants will go towards a one-year BRAC membership.

Class Participation

Participation in the cohort will consist of monthly sessions, but participants should also plan to dedicate time required to meet with growth coaches/mentors and complete preparation work before each session.