Title
Maricopa Community Colleges Foundation
Description
For $20,000.00 in payment authority to Maricopa Community Colleges Foundation to sponsor the National Association for Community College Entrepreneurship (NACCE) Everyday Entrepreneurship Venture Fund (EEVF) grant for 2021. The NACCE, a 501(c)(3) nonprofit association, has partnered with the EEVF to address one of the most urgent needs of the country - supporting local economies via entrepreneurship. The EEVF program provides training, mentoring, seed funding and loans to would-be entrepreneurs who are women, people of color, veterans and others who do not qualify for traditional financing. The EEVF will match the City’s contribution, dollar for dollar, doubling the impact. The grant, focused on entrepreneurship, will advance the City's efforts to promote and grow innovative companies in a wide array of disciplines, thereby creating more opportunities for community college students to prosper and achieve successful careers. The grant will also provide the opportunity to create jobs in the City of Phoenix as these successful businesses continue to grow, hiring individuals from the community. Three of the five Maricopa Community Colleges reside in the City of Phoenix, and the matching funds may be used in conjunction with those three community colleges. There is no impact to the General Fund. Funding is available in the Downtown Community Reinvestment Fund.