The Illinois Department of Commerce and Economic Opportunity (the “Department” or “DCEO”) is issuing this Notice of Funding Opportunity (NOFO) through its Office of Minority Economic Empowerment (OMEE) to establish and support Illinois Economic Empowerment Centers (EECs) throughout the State of Illinois.
Donor Name: Illinois Department of Commerce and Economic Opportunity
State: Illinois
County: All Counties
Type of Grant: Grant
Deadline: 11/28/2023
Size of the Grant: $100,000 to $500,000
Grant Duration: 1 Year
Details:
The Illinois Economic Empowerment Centers Program (EEC Program) will provide training in the principles and practice of entrepreneurship to prepare individuals, including minorities, women, individuals with a disability, dislocated workers, veterans, and youth entrepreneurs to pursue self-employment and/or a business enterprise opportunity. The EECs shall provide training in all aspects of business development and small business management.
Through the Department’s business outreach teams, it is evident that many businesses comprised from the Targeted Program Participants often require tailored support that resonates at a local, community, and cultural level. The EEC Program has been developed in direct response to this need and will focus on establishing centers to assist the Targeted Program Participants directly.
Goals and Measures
The EEC must design and implement data collection systems to collect and report on the following required programmatic data points:
- The EEC must monitor and provide a summary of the extent to which the centers serve the Program Participants and the method by which this information will be verified.
- Data concerning the Program Participants should be collected at intake (which could be gathered at a pre-registration for a training or advising session), plus follow-up data should be collected on participants that have participated in an EECs training program or one-on-one advising.
- EEC Business Advice/Technical Assistance:
- Number of Program Participants (new/existing) from the Program Participants who were referred to financial resources, existing educational programs, and business incubator facilities
- Number of businesses the EEC provided with one-on-one advising
- Total hours of one-on-one advising the EEC provided
- Number of business plans the EEC helped businesses to create
- Number of formal client pitches/presentations to potential investors the EEC helped businesses develop o Number of marketing plans the EEC helped businesses to develop
- EEC Education and Cohort Training:
- Number of seminars/workshops/cohorts sponsored/cosponsored conducted
- Number of attendees who attended each seminars/workshops/cohorts sponsored/cosponsored grouped by the Targeted Program Participants
- Number of seminars/workshops/cohorts sponsored/cosponsored which were conducted in additional languages
- Number of training certifications issued to businesses that complete the program
- Upon the completion of each cohort, the EEC must host a pop-up market event for successful graduates. This event should include aspects of networking and will offer business owners an opportunity to demonstrate the skills and training they have received
- The EEC must provide a summary report detailing the extent to which the training program is coordinated with other assistance programs targeted to small and new businesses.
- EEC Education and Cohort Training:
- Description of EEC collaborates with any other career education agencies and not-for-profit corporations, including details the other assistance program services utilized/provided
- The EEC must detail the ability of the program to leverage other sources of funding and support.
- EEC Business Advice/Technical Assistance and EEC Education and Cohort Training
- Description of amount and source of leveraged funding utilized each quarter
- Description of how supplemental funding was utilized to support/implement business advice, technical assistance, and education and cohort training by the EEC to the targeted program participants
- The EEC must provide an overview that details the success of the program in aiding entrepreneurs to start up new businesses, including the number of new business start-ups resulting from the program.
- EEC Business Advice/Technical Assistance and EEC Education and Cohort Training.
- Number of new jobs created as a result of a business working with an EEC
- Number of jobs retained as a result of a business working with an EEC
- Number of new business launches as a result of a business working with an EEC
- Number of businesses retained as a result of a business working with an EEC
- Number of businesses with first recognized revenue as a result of a business working with an EEC
- Number of businesses with first acquired customer as a result of a business working with an EEC
- Number of businesses with first retained customer as a result of a business working with an EEC o Number of businesses that received their certification as minority-, woman-, persons with disabilities- and veteran owned through the Business Enterprise Program as a result of a business working with an EEC
Funding Information
Total amount of funding expected to be awarded through this round of funding is $2,500,000. Awards will range from $250,000 to $500,000.
Project Period
The period of performance is expected to be January 1, 2024 through December 31, 2025.
Eligibility Criteria
Eligible Applicants include:
- Career education agencies; and
- Non-profit organizations, including but not limited to: local developments corporations, chambers of commerce, community based outreach centers, and community based organizations that provide services to minority-owned businesses and entrepreneurs.
- Each center must:
- Have a designated EEC Program Director;
- Be operated by a Board of Directors representing community leaders in business, education, finance and government;
- Be incorporated as a not-for-profit corporation; and
- Be located in an area accessible to eligible Program Participants.
For more information, visit DCEO.
