Restaurants in Minneapolis, St. Paul and Washington, D.C., have a chance to grow their business through an accelerator program hosted by one of the largest same-day food delivery services.
DoorDash Inc.(NYSE: DASH) announced that it is taking applications for its Live & Local Series accelerator program. The five-month program offers selected restaurants one-to-one mentoring, a $5,000 grant, programming on revenue diversification, and networking opportunities. Applications are open until May 1, and will be reviewed until May 11. The cohort of up to 40 businesses will be announced May 12.
Previous cohorts have included participants in Atlanta, Boston, Chicago, New York, New Jersey, Philadelphia and other cities. Since 2021, the accelerator for local restaurants has served more than 1,000 small businesses through the company's online and in-person programming, a DoorDash spokesperson said.
"Washington, D.C., and Minneapolis were chosen so we can help ensure restaurants across the country are able to participate in-person and enjoy personalized support and guidance in addition to working one-on-one with a mentor," a DoorDash spokesperson said.
Programming will cover topics such as how to calculate costs, price points and business finances for the next three years to help scale operations. The program will be four to five hours weekly, including online and in-person events, group sessions, mentoring sessions and workshops.
The program is a partnership with Bridge for Billions — an entrepreneurial network that connects early-stage businesses to growth opportunities — and local partners Hospitality Minnesota, Pimento Relief Services, the Greater Washington Urban League and DMV Black Restaurant Week.
What restaurants might be eligible?
The accelerator is looking for applicants who are trying to expand their business and diversify their revenue stream. Owners of small to medium-sized restaurants, food trucks, food stalls or community kitchens are welcome to apply. Business owners must be located in Minneapolis, St. Paul or Washington D.C., have fewer than three locations, have been in operation for at least two years, employ fewer than 50 people across locations, own a business bank account and have a maximum annual revenue of $1 million.
