WILMINGTON — After four successful years of supporting hundreds of businesses with funding and other resources, the Wilmington Alliance and the Pete du Pont Freedom Foundation (PDFF) have announced they will continue the Equitable Entrepreneurial Ecosystem (E3) to support rising entrepreneurs in Delaware.
E3 was designed to identify and build a city-wide coalition of business and nonprofit partners to help entrepreneurs survive its early days and thrive into a start-up. The program was founded in 2020 to lend aid to small businesses amid the COVID-19 pandemic shutdowns and economic fallout.
The program was first backed with a $500,000 contribution from Barclays Bank, as well as a $25,000 annual donation from the Wilmington Alliance for grants for businesses owned by women or people of color. Over the years, Discover Bank and Capital One have also provided funds. Beyond funding, E3 offers a suite of services to participants, including access to mentors, seminars, business coaching and other services in marketing and technology support.
“We are grateful for partners like Barclays and the Wilmington Alliance who understand the value of investing in entrepreneurship,” PDFF Executive Director Stephanie Johnnie said in a prepared statement. “Our E3 members can scale further and faster in the marketplace thanks to their vision, collaboration, and investments.”
It’s also been a successful stepping stone for many start-ups, ranging from biosciences to entertainment to retail to food and beverage, in their quest to become a viable business. Companies like Trash Porters and Droneversity had participated to help gain enough financial support and business savvy to make it to the next year.
“We are proud to continue this partnership and our annual financial support of Wilmington-based entrepreneurs through E3”, Wilmington Alliance CEO, Renata Kowalczyk said in a prepared statement. “It’s a joy to see the program grow and be able to use entrepreneurship as a vehicle to bring equity and inclusion to local economic development.”
As the years have passed, E3 has grown to include entrepreneurs in all three counties with 20-person cohorts split with many of the businesses in New Castle County. To date, E3 has invested in 150 businesses statewide with a network so strong that the Pete du Pont Freedom Foundation launched a membership program in 2022.
The membership program allows start-up founders to network outside the cohort and connect with coaches, opportunities and a diverse pool of consultants.
For more information, visit www.petedupontfreedomfoundation.org/e3/
