Goldman Sachs 10,000 Small Businesses Program

In November 2013, Goldman Sachs launched its signature 10,000 Small Businesses program in Detroit, the 16th city to benefit from the program. Per its website, “Goldman Sachs 10,000 Small Businesses is an investment to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital and business support services.”

In the United States, Goldman Sachs 10,000 Small Businesses is a $500 million investment to help entrepreneurs create jobs and economic opportunity by providing them with greater access to education, financial capital and business support services. Goldman Sachs 10,000 Small Businesses is designed to tap into that economic power by providing entrepreneurs across the country with the resources they need to grow and create jobs.

The program has two components: the education track and capital track. Wayne State University will
be responsible for housing and administering the education component of 10,000 Small Businesses. The education track is an 11-session business
course designed by Babson College, a leader in entrepreneurship education. Once in the program, 10,000 Small Businesses firms have a 95% graduation rate. Invest Detroit and the Detroit Development Fund will manage the application and release of funds for the capital track.

The program can accommodate 4 sessions of 40 participants each (160 firms in total). Thus far, the program has not met capacity in any of its launch cities. Wayne State University aims to be the most successful launch to date, which will hold 3 sessions in 2014.

Initiative Lead: Kyle Polk

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