HOUSTON, Texas – Aug. 3, 2022 – Houston small-business owners will soon benefit from a transformational program announced Wednesday by leadership from Mayor Sylvester Turner’s Office of Business Opportunity (OBO) and Regions Bank.
The program is called Inner City Capital Connections (ICCC), a tuition-free coaching and training opportunity designed to empower business owners in economically under-resourced areas with insights and strategies on how to grow their companies and build long-term success.
ICCC is now accepting applications from Houston-area businesses. Companies that meet ICCC criteria and are selected for the program will participate in an intensive training event in Houston scheduled for Oct. 5. In addition to guidance from nationally recognized educators, companies will receive business coaching from Regions Bank representatives and long-term connections with ICCC resources for building sustainable growth over time.
“In Houston, our goal is to support small business owners to help them achieve economic mobility through entrepreneurship. They are key drivers to the success of Houston’s economy and have contributed to our communities by creating jobs and providing much-needed goods and services,” said Mayor Sylvester Turner. “We could not do this without the partnership of Regions Bank. By working with ICCC, business owners in historically underserved and under-resourced areas will learn by example and throughout intensive training. This program is a tremendous opportunity for those chosen to participate.”
In Houston, our goal is to support small business owners to help them achieve economic mobility through entrepreneurship.
Sylvester Turner, Mayor, City of Houston
Regions Bank is bringing ICCC back to Houston for an in-person program after presenting the training virtually to 100-plus entrepreneurs in 2021. Financial support for ICCC from Regions Bank and community partners enables ICCC training to be provided to local small-business owners free of charge.
“The 2021 Houston ICCC program extended an educational lifeline to entrepreneurs facing the pandemic’s evolving and persistent challenges,” said John Stacy, Houston market executive for Regions Bank. “Beyond insights from the training itself, the program also provided participants with coaches who are invested in their success and a supportive of network of fellow small-business owners they can reach out to for reassurance and support. Regions Bank was committed to bringing back this session to offer more Houston companies the opportunity to benefit from all that ICCC offers.”
ICCC is part of the nonprofit Initiative for a Competitive Inner City (ICIC), which was founded by Harvard Business School Professor Dr. Michael Porter to empower entrepreneurs in under-resourced areas through greater access to education and business training. ICCC has worked with thousands of business owners across the U.S. since 2005.
The nonprofit’s research shows that, following ICCC training, program alumni have averaged
- 120% revenue growth,
- collectively creating more than 23,000 jobs
- while raising $2.3 billion in capital.
By connecting business owners with experts in the fields of strategy, marketing, small-business finance and more, ICCC helps entrepreneurs overcome barriers and take their companies to the next level of success. ICCC has adapted its curriculum to specifically address market disruption factors and management as entrepreneurs emerge from challenges presented by COVID-19.
The program is available to a wide range of business owners, regardless of whether they are Regions Bank customers. Real-time Spanish-language translation services will be offered. Following the Oct. 5 workshop, participants will receive personalized coaching from Regions bankers along with no-cost follow-up ICCC webinars and online courses.
Space for the program is limited, with ICCC hosting a maximum of 100 small-business representatives at its in-person training events to offer a more interactive learning experience and customized insights.
To take part, business owners must first apply through ICCC. The application window is now open, and nominations are due by Friday, Sept. 9. To be considered for the program, applicants should be an independent, for-profit or nonprofit corporation, partnership or proprietorship. Further, the company should have its headquarters or more than 51% of its physical operations in an economically distressed area or have more than 40% of its employees living in an economically distressed area.
Additional information on ICCC criteria can be found at www.iccapitalconnections.org, and small-business owners interested in applying may complete this online application form. Members of the public may also nominate small businesses for consideration. ICCC’s online nomination form serves as a portal for submitting information. An ICCC representative will follow up with nominated organizations to further discuss the program.
About Regions Financial Corporation
Regions Financial Corporation (NYSE:RF), with $161 billion in assets, is a member of the S&P 500 Index and is one of the nation’s largest full-service providers of consumer and commercial banking, wealth management, and mortgage products and services. Regions serves customers across the South, Midwest and Texas, and through its subsidiary, Regions Bank, operates approximately 1,300 banking offices and more than 2,000 ATMs. Regions Bank is an Equal Housing Lender and Member FDIC. Additional information about Regions and its full line of products and services can be found at www.regions.com.