First Commerce and Domi Station, Tallahassee's business incubator, have partnered to launch PowerUP, a 12-month long incubator program for entrepreneurs ready to expand their existing small business by delivering new products and scaling-up operations. The competition was announced today at the fourth annual Power Forward event, presented by First Commerce. Applications for the inaugural program are now live and due November 11, 2016.
“First Commerce has always believed in the power of local business,” said Cecilia D. Homison, CEO of First Commerce Credit Union. “Entrepreneurs are the lifeblood of the economy, which is why we’ve invested for years in the Power Forward Series. We couldn’t be happier to double down on entrepreneurship by supporting an innovative business expansion program like PowerUP.”
PowerUP will be open to a small, focused cohort of 5 businesses selected by an independent committee. The cohort will meet quarterly in a facilitated, peer-to-peer workshop and monthly with experienced consultants and advisors. Together, program participants and facilitators will explore the people, process, and product of each company, targeting measurable ways to improve and accelerate. Examples of businesses could include a local brick-and-mortar with ambitions to franchise, a services-based firm ready to launch a scalable product, or a company with small- to mid-scale production that wants to expand their distribution to new markets or offer new product lines to existing clients.
“To build a truly robust business community, we must create world-class partnerships that deliver world-class programs,” said Lucas Lindsey, Domi’s Executive Director. “We must work together to build an ecosystem that drives both startup formation and the ramp up of established, revenue-generating firms.”
PowerUP is a chance for local business owners to take a hard look at people, product, and processes as they reinvest in their company's future. The program aims to bring a fresh set of eyes to existing businesses by connecting them to an experienced group of program facilitators who act as objective consultants. It represents yet another step of powering forward for Tallahassee’s entrepreneurial ecosystem.