CHASE COMMITS FUNDS TO SPARK JOB CREATION BY SMALL BUSINESS START-UPS THROUGH THE START SOMETHING CHALLENGE
August 27, 2012
The JPMorgan Chase Foundation committed $150,000 to back the Start Something Challenge – a statewide initiative led by NJ-based non-profit Rising Tide Capital. Also supported by Priceline.com founding member and serial entrepreneur, Jeff Hoffman, the jobs initiative will recruit and support entrepreneurs to start and grow businesses in marginalized communities.
“Chase’s support means that we’ll be able to provide the resources to help grow businesses in the communities that need them the most,” said Alfa Demmellash, co-founder and CEO of Rising Tide Capital.
The Start Something Challenge consists of a statewide start-up pitch competition and small business training program in low-income communities across New Jersey. Additionally, the funding from Chase allows Rising Tide Capital to continue developing its entrepreneurship development services as a model that can be replicated across the United States.