The New Braunfels Economic Development Council (NBEDC) is looking to invest $1.2 million in Gener8tor, an entrepreneurial accelerator program. This program has supported over 2,100 startups, raised over $2.9 billion, and created more than 14,000 jobs.
About the Program
Gener8tor’s nondilutive program, gBETA, is a free, seven-week workshop that assists small businesses in acquiring external funding without requiring owners to give up capital. The New Braunfels Gener8tor program would offer two cohorts annually for three years, including training, community building, networking opportunities, mentor connections, investment accelerators, and presentation pitches.
The program would also include one full-time employee in the city to facilitate the program and occupy office space within the city limits. This is part of the NBEDC Strategic Plan, which aims to keep local talent in the community.
Next Steps
The item will be considered by the New Braunfels City Council in July or August. During a recent NBEDC meeting, board member Atanacio Campos expressed support for the program, stating it could help develop good jobs in New Braunfels. However, New Braunfels resident Julie King spoke in opposition, questioning the program’s potential success and its implications for the city’s chamber of commerce.
Original reporting: Community Impact — Austin — read the source article.
