During 2023-2024, the College of Business & Health Administration successfully launched a Small Business Accelerator with a $500,000 U.S. Small Business Administration FY23 Congressional Community Project Grant. The project benefitted regional small businesses in underserved categories in an ongoing effort to build the region’s business landscape.
Since 2014, the already-established USF Business Incubator has supported the economic development of the Will County region by fostering new business development. The grant, in partnership with the U.S. Small Business Association, assisted the university in creating the Accelerator to provide equity-free funds and mentorship to businesses and entrepreneurs. The Accelerator provided its business members with a variety of other benefits including training, equipment, access to a regional business incubator, networking opportunities, and curricular and co-curricular programming for founders to expand their business knowledge.
University students were also involved in assisting the businesses, integrating lab-based learning opportunities alongside active business development.
“Working in the USF Small Business Accelerator helped me to grow my skills and network with entrepreneurs.” –Lucas Fernandez- Pedrera Laborda, Freshman, Student Worker
“I’m grateful to have been able to provide a meaningful service to the Will County community. I appreciated being able to see real-life insights into business and to watch the journey that it takes to succeed in small business. I truly valued my time working at the accelerator.” –Logan Miller ’24, Graduate Fellow
This project was funded through a grant with the U.S. Small Business Administration. The application period for new businesses has closed.
FOR MORE INFORMATION:
Bonnie Covelli, Ed.D., Program Director
Associate Professor, College of Business & Health Administration
bcovelli@stfrancis.edu | 815-740-5071
