Economic Growth Business Incubator



Organizational Overview

Name
Economic Growth Business Incubator
IRS EIN
90-0128899
Website
www.egbi.org
Email
al.lopez@egbi.org
Phone
512-928-2068
Address
1144 Airport Blvd., Ste. 260
Austin, Texas 78702
Social
  

Mission Statement

EGBI's mission is to enable economic development and job creation in underserved communities in the Greater Austin area by utilizing innovative, high-tech, and bilingual approaches in a business training and incubation setting.


Austin's a great city for small business. At EGBI, we embrace that spirit by bringing individuals, who historically have had less access to great resources, the support they need to help them become more successful business owners. That includes training, coaching and more, delivered in a comfortable environment in either English or Spanish. We meet our clients at their level as they start, grow and sustain grassroots businesses, contributing to Austin's burgeoning economy and the prosperity of their families.

Help us extend Austin's entrepreneurial opportunity throughout our community!

Your donation to EGBI's campaign will help us reach our goal of $5,000 toward our scholarship program, continuing to make high-quality entrepreneurship training accessible to all.

In 2016, EGBI launched a Business Coaching program where entrepreneurs work in small groups led by a coach to develop specific areas of their business. In addition, EGBI continues to offer free monthly workshops for aspiring business owners, along with its regular entrepreneurship training: Emerging Enterprises Training Program and Curso Empresarial. In addition to its onsite courses, EGBI broadcasts its classes, allowing entrepreneurs outside of the Greater Austin area to receive the high-quality training they need to start or grow their business.

Impact Statement

The ultimate goal of EGBI is to contribute to the prosperity for families in our community by nourishing their dreams of entrepreneurship and independence. The entrepreneurs who take advantage of EGBI's programs are often in situations where starting or sustaining their small business is their only path to financial independence and higher quality of life.

Through the creation of new businesses, EGBI has been able to impact the economy by assisting in launching and growing about 160 businesses since 2008. Over the last six years, EGBI business graduates achieved over $50 million dollars in sales. Last year, EGBI offered 198 hours of training and assisted over 200 clients (over 1400 since 2008) through business training, consulting and office incubation. 40% of our training was delivered in Spanish via Curso Empresarial and Business Coaching in 2016.

EGBI is promoting economic and community development through the creation and growth of small businesses, many of which are family-run and minority or women owned. In 2016, EGBI graduates generated over $13M in annual revenues. This is very significant, considering that 75% of EGBI's clients are low to moderate income (based on HUD's 200% poverty benchmark), and 35% of EGBI clients' level of education is High School or less.


Needs Statement

Austin has experienced exponential population growth in recent decades, but that has not translated to growing opportunity for those in the underserved areas of our community. If we want to fully engage Austin's population in the entrepreneurial opportunity of our city, we must extend education, training and connections directly into that community in a way that is culturally relevant and delivers proven results. That's what EGBI does.

Ashley Wall, Ashley Wall Photography for All
"I thought that starting a photography business would be the easiest start up, and cheap too. All I needed was a camera and some clients. . . This was not the case… And this is how my relationship with EGBI began. EGBI guided me down the path of success with my business in so many ways… EGBI taught me important information I needed to operate my business efficiently like marketing strategies and business financials. EGBI even gave me the resources and encouragement I needed to create my business plan."

Mynor Alvarado, APSCO
"Starting your own business is very intimating and overwhelming. Challenges are inevitable from the initial planning to the ongoing execution of the plan. However, understanding how to plan, improve, and grow is what EGBI and its partners has enabled us to understand. Knowing we're not alone in the process allows our company to persevere through the challenges and continue future planning and growth. We consider EGBI an extension of our company."

Gina Morales, Austin STEM Academy
"Every session at EGBI was extremely helpful because it was coming from fellow business people who had already been there and were experts in their areas. They offered pieces of knowledge that were practical, usable and a lot of 'aha' moments...EGBI gives you the business acumen that you need to take the leap and know that if you fall you'll have a soft place to land or you may just spread wings and fly very high."

Silvia Cortinas, Fofu.Tx Party
"I didn't know anything about how to register a company… I learned the importance of having an attorney, a banker and a CPA for any type of business… I now understand that I need to wait and save a little more before I formally launch my business and rent a location... All of my life, I've been focused on being a good daughter, wife and mother. This business is my opportunity to fully develop and fulfill a different aspect of my life as a woman"

Donie Torrance, Nails Naturally
"Because of EGBI, I have a higher self-esteem now, I know that I can actually do this, and I can be as successful as I will allow myself to be if I take advantage of the help I get. I feel like I am not doing this by myself, I have a whole team behind me, and that is priceless. EGBI gives me services and benefits free of charge that I could not be able to afford otherwise... It is like having a board, a group of people who help me and guide me along the way and hold me accountable for what I do. Especially when you are running a business and your money is limited, it is great to have EGBI providing you with the resources that you need for your business to grow."

Raymond Vasquez, Texas Showcase Roofing
"There were a lot of benefits to going to EGBI. Before EGBI, I could say I was self-employed but now, I feel like I am a business owner. My business continues to grow, I now manage two full-time employees and supervise 50 subcontractors."

Letty Torres, Dekora
"I definitely recommend EGBI because they are able to teach you how to open and run your small business in a way that is easy to understand. Many times, we as Spanish speakers think that taking a class like this is very difficult, but EGBI's classes provide the information in a clear way, and they guide you step by step."
We have ongoing volunteer opportunities for subject matter experts in the areas of marketing, financing, accounting, legal, sales, and other small business related topics - to assist us as instructors and small business mentors.
We also have leadership opportunities in our Board of Directors and advisory committees (marketing, fund development and program development).