FastTracTM Helps Rebuild Communities
Today Carl Schramm, Ewing Marion Kauffman Foundation president and CEO, formally announced the FastTrac® LaunchPad initiative to offer FastTrac entrepreneurial training programs in communities across the nation that have been hit hard by layoffs and the recession. The Kauffman Foundation is pleased to be partnering with the Deluxe Corporation Foundation, which has provided additional funding for this new national initiative. See national announcement on FastTrac.org. and Kauffman.org.
The main goal of FastTrac LaunchPad is to help a large number of individuals-those affected by the current economy-turn a negative situation into a positive opportunity by either exploring the start-up of their own businesses or navigating their existing entrepreneurial businesses through today's challenging environment.
FastTrac LaunchPad is based on the FastTrac® NewVentureTM, FastTrac® GrowthVentureTM FastTrac® TechVentureTM and First Step FastTrac® programs. However, additional materials and resources are being added to the LaunchPad edition of FastTrac® programs and include critical survival themes, analysis tools, and facilitation tips to help emphasize key aspects critical to the participants.
Several FastTrac providers in cities and across states are already on the path to bring the FastTrac LaunchPad initiative to their communities. New York City Mayor Bloomberg announced today that FastTrac LaunchPad would be among a number of initiatives the city is using to jumpstart New York's economy. The states of Michigan and West Virginia are implementing the programs, along with new efforts in Kokomo, Indiana, and Philadelphia. Right Management will be offering the programs to displaced workers through outplacement services in Midwestern states, starting in Kansas, Missouri, Colorado, and Minnesota.
Research indicates that former employees are often receptive to starting a new business during a recession. A Kauffman Foundation-funded U.S. Census Bureau study released in January reports that startup companies are a major contributor to job creation. The Business Dynamic Statistics (BDS) also indicate that while business startups decline slightly in most of the cyclical downturns, startups remain robust even in the most severe recession over the sample period (in the early 1980s). For more research data points, download Kauffman fact sheet Entrepreneurs and the Economy.
Is your organization ready to help jumpstart the economy in your community by offering programs through the FastTrac LaunchPad initiative? Start by registering to participate in FastTrac LaunchPad Live, a Webinar that will give you more details about the initiative. In the meantime, learn more by reviewing FastTrac LaunchPad FAQs. For specific questions, send an email message to launchpad@fasttrac.org.