Walton Family Foundation underwrites EforAll program in NW Arkansas
Supported by a $350,000 grant from the Walton Family Foundation, a Massachusetts-based program named EforAll has expanded into Northwest Arkansas. The one-year grant enables the year-long accelerator to be offered for free along with Spanish and English pitch contests in which entrepreneurs compete for cash prizes ranging from $500 to $1,000.
As you might have guessed, EforAll stands for “Entrepreneurship for All.” The first of two cohorts funded under the grant includes 17 individuals. The second cohort will begin in July.
As described in this article from Arkansas Business, the first three months of the accelerator are the most intense with entrepreneurs, mentors and subject-matter experts meeting for 2.5 hours twice a week. Entrepreneurs are taught how to decide on a business model, what customers to target, and other topics such as financial and legal know-how. During the remaining nine months, they learn how to sell and market their products or services and how to promote their businesses.
