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The New Braunfels Economic Development Corp., or NBEDC, is hoping to invest in local entrepreneurs through an entrepreneurship incubator project.
About the program: The NBEDC is looking to invest $1.2 million in Gener8tor, an entrepreneurial accelerator program that works to support startup businesses. Gener8tor, which was founded in 2012, has supported more than 2,100 startups, raised over $2.9 billion and created more than 14,000 jobs, according to agenda documents.
The potential partnership would implement a nondilutive program called gBETA, which is a free, seven-week workshop that assists small businesses in acquiring external funding, without requiring owners to give up capital, according to previous reporting by Community Impact.
The New Braunfels Gener8tor program would offer two cohorts annually for three years. This includes training, community building, networking opportunities, mentor connections, investment accelerators and presentation pitches. The New Braunfels Gener8tor program would also include one full-time employee in the city to facilitate the program and occupy office space within the city limits to ensure the program is operating within the community, agenda documents state.
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