The application process for TCC’s Everyday Entrepreneur Venture Fund has closed. Please watch this space for future opportunities to apply.
Frequently Asked Questions
What is the Everyday Entrepreneur Venture Fund?
The Everyday Entrepreneur Venture Fund (EEVF) is designed to help aspiring entrepreneurs with their dreams of being a successful business owner. The program will offer an opportunity for customized education, mentorship and seed funding to assist with the successful startup and sustainability of a business. Candidates who are selected will have a one-year commitment to the Tarrant County College program.
What is the application deadline?
February 28, 2022
When does the program start after acceptance?
April 1, 2022, with a 12-month commitment
Why is there a one-year commitment?
20% of small businesses fail within the first two years of existence. Many reports on business failures cite poor management as the number one reason for failure. New business owners frequently lack relevant business and management expertise in areas such as finance, purchasing, selling, production, operations and hiring and managing employees. If the business owner does not recognize what they don’t do well and seek help, the company may fail and go out of business. As such it is believed that providing a mentor and educational resources for a year’s time will offer the entrepreneur the best opportunity for success.
What do applicants receive if their business is selected?
Selected applicants will receive seed funding (determined by the amount requested and the funding committee funding allocation), customized education provided to enhance your knowledge on how to successfully operate the business, and mentorship which includes one on one communication, at least twice per month, with a dedicated mentor who is a former, or current, small business owner. This is for a 12-month period.
What materials are required for the application process?
- Current business plan
- Current feasibility study
- Current marketing or social media plan
- A short 1–2-minute video explaining your business. A quick video using a cell phone will work!
- A one-page cover letter explaining financial request and how grant funds will be used
Do you have to be a Tarrant County College student to apply?
No, this opportunity is open to both students and non-students
What if a business is based outside of Tarrant County?
Only businesses located in Tarrant County are being considered
The application asks if the business has been in existence for 3 years or less. Are applicants eligible if the business is older than three years or if they are restarting the business?
According to the U.S. Bureau of Labor Statistics, approximately 20% of new businesses fail during the first two years of being open. Approximately 45% of businesses fail during the first five years. For the purpose of focusing specifically on new business starts and helping them survive and thrive during the infancy stage, TCC has selected the criteria that the business must have existed for three years or less. Revenues to date for applicant businesses should be no greater than $500,000.
Have questions that aren’t listed? Click here to contact us.