Amped Russell Technology Center

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AMPED Russell Technology Business Incubator

BY KATHIE STAMPS

On Feb. 24, the inaugural cohort of 34 businesses graduated from the AMPED Russell Technology Business Incubator (RTBI). The 34 Black and Latinx business owners started their year-long business incubator program on Feb. 15, 2021.

RTBI launched in January 2021 as a state-of-theart Black business incubator and technology service center. “RTBI will provide the support small businesses need to launch in West Louisville communities,” said Dave W. Christopher Sr., founder and executive director of AMPED, the Academy of Music Production Education and Development.

Through this business incubator, participants receiving training and support for their specific industry and for business services in general, including assessments and referrals, meetings with a personal business coach and a wealth strategist, access to seed capital so they can purchase equipment and inventory, unlimited mental health counseling, stipends for living expenses, and pitch competitions to teach them how to raise funds for their businesses.

“Within three to five years, RTBI will be a national model for creating spaces for businesses that foster economic growth, mobility, entrepreneurship and independence,” Dave said.

RTBI participants also have the opportunity to complete the Business Foundations Specialization Certification offered through Coursera. This credential takes business owners through analyzing and improving business processes in services or manufacturing, managing people through motivation and reward systems, reading balance sheets and cash flow statements, and understanding branding and go-to-market strategies.

Who qualifies for the Russell Technology Business Incubator? “Black or Latinx businesses that are startup or existing businesses,” said Dave. “Businesses are asked to apply. They are interviewed by a small panel of business leaders and business educators and 34 businesses are selected for the year-long cohort.” The second class began their year-long cohort on Jan. 15. Monica Stewart is director of operations for AMPED, the Academy of Music Production Education and Development. She has been a student of four business learning opportunities, one of which was the first cohort of AMPED RTBI. “While participating in RTBI, I was able to connect to some of the fundamental resources I needed to move my business to the next level,” she said, “such as coaching, wealth strategy, financial learning opportunities, branding, marketing, and website design and development.” Monica established her business, Transitions Caregiver Solutions (TCS), in 2018 to connect caregivers to the resources they need from early diagnosis to end of life for their loved ones, based on her own family member’s experience with vascular dementia. “I was also awarded a grant from Humana based on my focus on health disparities, which will allow me to recreate my website and eventually develop an app,” she said. “I am so thankful for RTBI for exposing me to various resources to move my business to the next level and look forward to what TCS has in store for the future and our community as a whole!” Brittany Hill was hired as the RTBI Manager after an extensive search for a candidate to manage the incubator at AMPED Russell Technology Business Incubator. “I see the impact in the Louisville Community of the successful businesses that graduated from AMPED’s 2021 cohort,” she said. As the manager of RTBI, she is here to build upon and expand the program’s successful development model. “My role is to support our founders by providing a structured foundation within the incubator that supports economic growth, mobility, entrepreneurship and independence,” Brittany said. She also provides guidance for the RTBI business foundations by managing a powerful “Learning Journey,” a program designed to support and foster generational wealth. One aspect of the “Learning Journey” consists of classes presented by experts and experienced professionals to educate Black and Latinx founders on all aspects of business development and sustainability, ranging from capital readiness to supporting mental wellness for entrepreneurs. “Additionally, I provide networking opportunities by connecting businesses to other strategic and community partners and investors,” said Brittany. “We want the community to, as best they can, support and encourage Black and Latinx businesses by spending money with them and spreading the word about these businesses,” Dave said. “It is important to have organizations like AMPED that are

laser-focused on real solutions for underserved and under-represented communities with the understanding that we have support for youth and their families. There is no child living in poverty without a parent or guardian who also lives in poverty.” 