Cross River Bank and TechUnited:NJ launched a women and minority business owners mentorship cohort, providing additional support for small businesses and entrepreneurs in the state.
The organizations said on Oct. 7 that the partnership is the first of its kind between a bank and a tech accelerator, offering resources for startups and emerging investors, community events, thought leadership and more to propel the greater New Jersey technology and business ecosystems.
“Our success at Cross River is emblematic of the growth of the New Jersey technology ecosystem, and we are humbled to play a part in cultivating, hiring, and investing in our backyard,” said Phil Goldfeder, senior vice president of global public affairs at Cross River. “As one of the largest lenders in the Paycheck Protection Program (PPP), we safely and securely supported the smallest businesses who needed access to capital and this partnership with TechUnited demonstrates our continued commitment to our mission of serving the smallest businesses and entrepreneurs leading the next generation.”
The mentorship cohort will focus on providing underrepresented founders and owners with new advantages, resources and information as they receive mentorship from executives at Cross River, Amazon, RSM, Deloitte, EY and more.
Beyond the one-on-one mentorship, the program also provided four cohort members with grants, subsidized by Cross River, to enable them to present at the Propelify Innovation Festival, on Oct. 6 in Hoboken.
“Leveraging the TechUnited community and board, as well as our massive annual festival, Propelify, to truly support women and minority founders via this mentorship cohort is critical to the region’s success,” said Aaron Price, chief executive officer of TechUnited. “For entrepreneurs who want to build their companies faster and smarter, this program is for you. We encourage anyone looking for guidance to ensure their business thrives to apply.”