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Barclays, Pete duPont Freedom Foundation and Wilmington Alliance Partner to Support the Growth of Small Businesses in Wilmington

July 06, 2020 11:24 AM | Philanthropy Delaware (Administrator)

(July 2, 2020 by Press Release) Barclays and Wilmington Alliance are Philanthropy Delaware Members Pete du Pont Freedom Foundation and Wilmington Alliance combine to create the Equitable Entrepreneurial Ecosystem; A donation from Barclays will enable future statewide expansion.

Barclays US Consumer Bank, The Pete du Pont Freedom Foundation, and Wilmington Alliance today announced the development of The Equitable Entrepreneurial Ecosystem (E3) powered by Barclays. E3 was created to support small businesses across Wilmington as they look to rebuild from the COVID-19 pandemic and to develop a system that levels the playing field for access to resources.

E3 is designed to leverage the expertise and experience available in Delaware’s private and public sectors to grow opportunities for businesses and related employment. E3 Wilmington will help create the conditions for successful entrepreneurship across communities by building a citywide strategic coalition to identify, vet, incubate and accelerate the launch of new for-profit businesses, with a focus on Black and Brown entrepreneurs. The program will provide entrepreneurial resource support across five key entrepreneurial lifecycle focus areas including Coaching & Business Planning, Marketing & Promotion, Information Technology & Infrastructure, Space Planning & Design and Access to Funding Sources. 

“The Pete du Pont Freedom Foundation believes entrepreneurs and small businesses are the lifeblood of our economic success, and knows it can be difficult to navigate the landscape when it comes to launching and running a business, especially with the added challenges of the COVID-19 epidemic,” said Pete du Pont Freedom Foundation Executive Director Stephen Sye. “Our E3 program hopes to help businesses overcome those challenges by engaging key partners to help accelerate business development and provide resource supports throughout the entire entrepreneurial lifecycle. And now thanks to the generous support from Barclays, we are able to expand this program to create thriving business development ecosystems throughout the State of Delaware.”

Although the actual nature of individual E3 ecosystems will change over time and apply differently to businesses and individuals, the overall goal of the program is to implement a process that continually feeds entrepreneurs into pipelines that provide access to necessary resources and connections to accelerate the launch or growth of their businesses.

“Since the establishment of the Wilmington Alliance in July of 2019, we have put every aspect of our work in the city through the lens of equity and inclusion," said Wilmington Alliance CEO Renata Kowalczyk. “Like the Pete du Pont Freedom Foundation, the Alliance views entrepreneurship as a key path to prosperity. We need to make this path more accessible and equitable for entrepreneurs.”

The donation from Barclays will enable statewide expansion of the initial pilot program. Last month, Barclays announced widespread support to the communities in which the bank operates to respond to hardships created by the COVID-19, offering assistance to nonprofit organizations that provide food, shelter and assistance to vulnerable populations and financial support for small businesses impacted by the pandemic.

“At Barclays we remain committed to supporting and scaling high-growth entrepreneurs and believe in their potential as a driver for economic growth and productivity,” said Jenn Cho, Head of Citizenship for Barclays US Consumer Bank. “We hope to help small businesses across the state as they look to recover and rebuild post COVID, and we are excited to partner with The Pete du Pont Freedom Foundation and Wilmington Alliance on the E3 program to provide entrepreneurs with an opportunity to grow and thrive.”

For more information or to support E3 as a partner or a sponsor, please visit www.petedupontfreedomfoundation.org/e3 or email contact@petedupontfreedomfoundation.org.

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Barclays Media Contact
George Caudill, gcaudill@barclaycardus.com

Pete du Pont Freedom Foundation Media Contact
Stephen Sye, stephen@petedupontfreedomfoundation.org

Wilmington Alliance Media Contact
Jennifer Lawson, Jennifer@wilmingtonalliance.org


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