CEL receives award to develop group coaching for emerging entrepreneurs

By the University at Buffalo

A $25,000 Springboard grant will allow the University at Buffalo School of Management’s Center for Entrepreneurial Leadership (CEL) to pilot a group coaching program for local small-business owners in its M&T Bank Emerging Entrepreneurs program.

The CEL was one of 10 first-round winners selected among more than 130 applications. The winners were announced at an event held in June at NextCorps in Rochester, where each group was honored and awarded prizes ranging from $7,500 to $25,000.

Springboard is a regional rapid prize competition launched this year that supports those working in the Greater Buffalo, Greater Rochester and Southern Tier communities who are actively contributing to and expanding the region’s entrepreneurial landscape. Springboard awarded $222,500 in prizes in the first round and will award a total of $600,000 this year.

“In our new Emerging Entrepreneurs Coaching Launchpad, we will facilitate a series of group coaching sessions that offer a comprehensive learning experience to entrepreneurs who are at the beginning of their business journey,” said Susan Steffan, CEL executive director. “We are grateful to Springboard for the opportunity to develop this program and train coaches in this new team approach.”

The judging committee considered a variety of factors to determine awardees, including product or service design; ability to address current gaps in the marketplace or ecosystem; clearly defined target market; and funding needs to test an idea that otherwise wouldn’t be able to launch. Judging criteria also included whether the idea, program, product or service ultimately benefits entrepreneurs or strengthens the chances for entrepreneurs to start and grow businesses successfully.

Established in 1987, the CEL provides participants with individualized and interactive education in entrepreneurship. More than 1,500 CEL alumni employ more than 23,000 Western New Yorkers, and their businesses, are worth more than $2.3 billion to the local economy. For more information, visit management.buffalo.edu/cel.

Now in its 100th year, the UB School of Management is recognized for its emphasis on real-world learning, community and economic impact, and the global perspective of its faculty, students and alumni. The school also has been ranked by Bloomberg Businessweek, Forbes and U.S. News & World Report for the quality of its programs and the return on investment it provides its graduates. For more information about the UB School of Management, visit management.buffalo.edu.