JPMorgan Chase & Co announced funding this week for the OKC Minority Founder Accelerator, a program to break down barriers for entrepreneurs of color and be a catalyst for greater community development across the Oklahoma City’s underserved business communities.

The accelerator is part of NE OKC Renaissance, Inc. (NEOKCR), an OKC-based nonprofit that works to restore economic activity and break down barriers for residents and stakeholders of Northeast Oklahoma City. This effort complements NEOKCR’s PlaceKeepers, a real estate and small business development program designed to offset displacement caused by gentrification and empower Black residents with education and training to become real estate business owners and job creators.

“The OKC Minority Founder Accelerator and PlaceKeepers support minority founders and entrepreneurs of color city-wide,” said Dr. Quintin Hughes Sr., co-founder of NEOKCR. “Our work will generate increased wealth and home ownership in communities of color across Oklahoma City.”

NEOKCR and fellow nonprofits, i2E and the Oklahoma City Innovation District, are working together to bridge the equity gap in entrepreneurship. The 16-week, 60-hour program equips founders to scale their concepts into emergent supply chain opportunities, provides one-on-one operational interventions from local entrepreneurs and supporting agencies, and provides their companies with non-dilutive non-recourse grants.

“Together, we can create a pathway for entrepreneurs in Northeast Oklahoma City to transform their ideas into viable businesses. Business ownership is an important avenue for wealth building, and the long term impact will improve our local economy and create more jobs,” said Ryan Kirk, Oklahoma Market Executive for Middle Market Banking at JPMorgan Chase.

The OKC Minority Founder Accelerator (OMFA) is focused on addressing: 

• Parity for Minority Owned Businesses in Oklahoma City
• Connection to the Innovation District and Oklahoma City
• Capital and Technical Assistance Access
• Talent retention and recruitment

OMFA and PlaceKeepers are part of a larger entrepreneurship ecosystem that will utilize the repurposed historic Henrietta B. Foster Center as a Minority Enterprise Development Center. NEOKCR is an operational partner committed to preserving the Foster Center’s legacy, while providing vision, social innovation, and place-based programming.

For more information visit www.neokcr.org.