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n e w h a v e n b i z . c o m | M a y 2 0 2 3 | n e w h a v e n B I Z 21 F O C U S : S m a l l B u s i n e s s services, but no one really talked to each other. As of today, we've already given out 51 grants this year of over $300,000 in total, and we have tons in the pipeline. So, I will hit my number of 175 grants by Sept. 1, and we'll start the process again for a new fiscal year. e city of New Haven has contrib- uted $1.5 million to help support this effort, as well as the network of entre- preneurial support organizations. What are the specific needs of New Haven businesses that came out of your research? roughout the country, it's been the same thing across the board, especially in the BIPOC (Black, Indigenous and people of color) community: Taxation, the lack of access to capital and the lack of understanding of financial projec- tions or financial modeling. at's the biggest problem with a lot of minority businesses during the pan- demic — their back office. Either they weren't able to do financial projections, or they didn't know how to do it. We're doing a special course four times a year to teach financial projections. Especially in certain communities, they really need more of the technical assistance and guidance that goes along with the grantmaking opportunity. Yale has many entrepreneurial support programs in New Haven, including its new Inclusive Growth Center. Will that center be involved? e Inclusive Growth Center is going to be across the street from the Com- munity Foundation (on Audubon) — we're closely involved and have given money to that effort because we believe in that effort. I see a very synergistic nature to what Yale, the city of New Haven and the Foundation wants to do as it relates to small-business innovation and growth and inclusivity within New Haven County. I think that's what's really significant — that you have three large entities within the area coming together to say, 'What does inclusive growth really look like for the people it serves?' How do you now translate your vision and mission to really help empower the citizenry in a given region, or a given area? Yale's Inclusive Growth Center is helping to do exactly that. Can you give me an example of a typi- cal NHE3 grant? I've funded anything from a spa up in the Westville section of the city to child-care providers, because the need for child care is pressing. I'm looking at hearing the needs of the community. As you know, 40% of all minori- ty businesses that started since the pandemic are no longer in business. Looking at keeping them afloat is a high priority for me, and then how to grow them long term and build wealth for those communities. at's really what the aim is, and the purpose of what we're doing. e underserved, the inner city, the BIPOC community — because of what's happened to them over many years and the COVID pandemic that we're still coming out of — they really need the help. We're going to put money on the table and address the needs that they actually have as small business people to help them be successful. at's the program. Is there a particular sector that you'd like to see applying for grants? I would love to see more in the construction trades. I would love to see more in the field of manufacturing or innovation. I would really like to see those businesses that can provide jobs in our community. We talk about STEM and biosci- ence — our state is putting millions of dollars to support that, but now I really want to encourage the BIPOC commu- nity to participate in that as well. Access to capital is one key barrier for a lot of small businesses. A lot of businesses in the BIPOC community don't have the friends and family that can give them the extra cash. is is where the Community Foundation comes in. How did your own background in entre- preneurship lead to your current role? For nine years I was a business advi- sor at the Connecticut Small Business Development Center, serving entre- preneurs, and prior to that I worked in venture capital, so I know the area very well. It's a natural fit because I under- stand the landscape, and understand the needs of the customer whom we're trying to serve internally as well as externally. When I wake up in the morning, the check does not motivate me, it's the fact that I'm helping others realize their dreams. at's really important to me, and that's what I like to do — that's why I do what I do. And so that's my motivation, when I can say, 'Hey, did I make a change in someone's life today?' Did I help real- ize someone's dream or vision today? en I know my life was not in vain. If I can just help one person a day, I'm doing my job. n The company that builds and installs the critical systems in virtually every type of facility is the same company you can rely on to maintain them. For over 50 years, our clients have trusted us to deliver end-to-end facilities solutions, so they can focus on their core business. Experts in: Facilities Services, Preventive Maintenance Programs, Onsite Operations & Maintenance NEMSI SERVICE SOLUTIONS INCREASE PRODUCTIVITY. 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