Entrepreneurial support system grows

Entrepreneurs and innovators are critical to the economic growth and vitality of our region.

Yet it’s emotionally and financially risky being an entrepreneur.

The SBA states that at least half of all business with employees don’t make it past the first five years.

Businesses fail for many reasons but generally those reasons can be grouped into the following categories: lack of leadership, lack of understanding of the customer needs and wants, lack of a viable business model, and lack of capital.

Many of these causes of startup failure can be mitigated by a strong support system that includes active mentoring, educational training resources and opportunities, access to capital, and endeavors that grow networks, develop connections, and build community.

It’s clear we cannot have a thriving entrepreneurial community without a strong support system.

In an effort to continue building that dynamic entrepreneurial support system, 1 Million Cups is launching in El Paso. 1 Million Cups (1MC) is a free, nationwide program designed to educate, engage and accelerate startups. It takes place every Wednesday morning at 9 a.m. in 104 communities across the United States.

The program is based on the idea that entrepreneurs discover solutions and thrive through communities.

An entrepreneurial network is built over a million cups of coffee.

Developed by the Kauffman Foundation and hosted by the Hub of Human Innovation in partnership with Borderplex Alliance, City of El Paso Department of Economic and International Development, El Paso Community Foundation, People fund, Progress 321, Technology HUB Juarez, and Wells Fargo Bank, 1 Million Cups El Paso will launch at a.m. Feb. 1, with an Opening Ceremony starting at 8:30 a.m.

Each week, 1MC offers two different entrepreneurs and innovators the opportunity to present their startup to a diverse group of mentors, advisors and peers, followed by feedback and supportive dialogue. 1MC provides a venue for something entrepreneurs want – a place to share their ideas, and a venue for something all entrepreneurs need – feedback, guidance, and support.

It is free and open to the public, and is being held every Wednesday morning at 9 a.m. at The Hub of Human Innovation, 500 W Overland, Suite 230, El Paso, TX 79902. You can find more information at 1millioncups.com/elpaso.

We believe entrepreneurs can discover solutions and thrive when they collaborate over a million cups of coffee. Drop in on our community of innovators and entrepreneurs to connect with and support local startups.

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