Apply for the Program
Applications for the inaugural Drive Minority Business Accelerator powered by ExxonMobil cohort are now open through Friday, July 29, 2022.
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
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
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
- 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
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.
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.