A downtown Dayton accelerator program aims to continue energizing the downtown area with vibrant storefronts by providing a supportive pathway to the local market for emerging first-floor entrepreneurs. This also especially entails women-owned and minority-owned businesses.
The Downtown Dayton Partnership (DDP) and other small business development partners in the Dayton area opened applications for the Retail Lab’s small business accelerator program.
The program launched in 2020 as an intensive 12-week experience for business owners aiming to launch or grow their first-floor business in downtown Dayton.
The Retail Lab has 37 graduates, 35 of which were women-owned and/or minority-owned businesses, said Val Beerbower, Retail Lab program coordinator and DDP director of first-floor development and business marketing.
“We plan to continue efforts to create equitable economic opportunities through programs like the Retail Lab,” Beerbower said.
Now the Retail Lab is ready for its next set of entrepreneurs in the fifth cohort intended for any consumer businesses add or can add to downtown Dayton’s vibrancy, including boutiques, shops, cafes, galleries and restaurants.
The program will provide a series of workshops focused on one-on-one sessions and a public speaking event that connects participants to people, ideas, capital and resources to help their business thrive and grow downtown.
Weekly workshops include facilitated instruction and work sessions with mentors. The program will culminate with a pitch competition.
“We’re very pleased at the results this program has produced so far in its first four cohorts,” said Sandra Gudorf, DDP president. “With these new mixed-use spaces emerging, there is an opportunity to take new business ideas and budding entrepreneurs and show them the support network available in our community to grow or launch their own commercial ventures.”
Applications are open through July 13. Participation in the 12-week program is free and each participant is eligible for up to $2,500 in professional services from creative, legal and financial firms to advance their company.
Applicants should be either located in downtown Dayton or aiming to launch downtown in the next six months to a year. It also said ideal applicants have about a year of sales online or at pop-up events.
Classes are slated to begin in August with workshops held at the DDP office at 10 W. Second St. For more details on the program or eligibility, check out the official website.
The Retail Lab is sponsored by Fifth Third Bank and leverages support from resource partners including the Entrepreneurs’ Center, the Miami Valley Small Business Development Center, Five Rivers MetroParks – 2nd Street Market, Launch Dayton and The Hub Powered by PNC at the Dayton Arcade.
