Middlesex CC Launch Your Business Now Students Awarded $19,000

At the end of the Spring 2022 semester, students enrolled in Middlesex Community College’s Launch Your Business Now (LYBN) program were awarded $19,000 by the Everyday Entrepreneurs Venture Fund (EEVF). Five Middlesex students received non-equity seed grant funding to help grow or launch their small businesses.

The program is a perfect fit for students who are not ready for debt funding but need assistance, according to Stacie Hargis, MCC’s Entrepreneurship Program Coordinator. In receiving the grant funds, students can also use the award to leverage more traditional lending. Hargis believes the funding opportunity is more accessible because it is “friends and family” based.

“This grant approach is filling a market need for everyday entrepreneurs within our ecosystem,” Hargis said. “We believe this is a unique value proposition to MCC’s program and makes us a natural partner to the rest of the funding ecosystem. Local small business growth means jobs for local people – our friends, family and neighbors – and our community college.”

During the event, students had 20 minutes to present their business plans and answer questions from the EEVF committee. The committee included MCC administrators and local entrepreneurs and bankers, such as Patrick Martin of Martin Insurance in Lowell, Germaine Vigeant-Trudel of the Lowell Development and Finance Corporation, and Reagan Mahoney of People’s United.

The students’ businesses and funding include:

· $5,000 to Squared Away – house clean outs and estate sale company

· $5,000 to Divine Beauty – an esthetician and permanent makeup professional

· $3,000 to Devine Design Clothing – and up-and-coming Lowell-based designer

· $3,000 to Thy Craft Panda – a graphics and printing shop

· $3,000 to Swangel’s bakery – an allergy-free small-batch bakery

Students will use the seed funding for operations as they continue to grow their businesses throughout the year. The funding was made possible by a generous grant from the Cummings Foundation.

MCC’s 16-credit Launch Your Business Now certificate program was developed for entrepreneurs who have an idea for a business they want to launch – or scale up – within four to 12 months.

“Receiving this EEVF seed money grant allows me to establish and grow my business without a start-up debt burden and will lessen the financial risk inherent in a small business start-up,” said Sue Boswell, MCC LYBN student and owner of Squared Away. “I am so grateful that this opportunity exists to support area entrepreneurs. These funds will allow Squared Away to lean into the excitement we have for our business and let us focus on hitting the ground running to build our business. We will purchase tool bags, yard signs and other marketing materials as well as two tablets to help centralize and simplify photos and inventories at each client's home. It is great the funding committee got to know us, like us and trust us with these funds.”