Wilmington, Delaware, has long been a hub for entrepreneurial activity, offering a range of resources and programs to support small businesses. For those looking to start or grow their ventures, the city provides numerous opportunities to access mentorship, funding, and collaborative spaces.
Emerging Enterprise Center (EEC)
The Emerging Enterprise Center (EEC) is a business incubator located on the Wilmington Riverfront. It offers affordable office and co-working spaces, fully equipped conference rooms, mentorship, business education, and access to a robust network of local businesses and resources. Since its inception, the EEC has supported over 85 companies, helping them generate more than $187 million in revenue and create over 1,000 jobs. The center also provides programs like the 8-week Emerging Program, which offers expert-led training in key business areas, and the ‘Swim with the Sharks’ pitch competition, where entrepreneurs can compete for funding and professional services.
Wilmington Alliance
The Wilmington Alliance collaborates with various partners to support entrepreneurs and small business owners. Initiatives include the Wilmington Kitchen Collective, a commissary kitchen that provides culinary entrepreneurs with low-cost, commercial kitchen space, training, and assistance with certifications. Another program, WilmingtonMADE, offers training, individualized coaching, business development, and backend support services to local entrepreneurs, aiming to enhance business stability and growth.
City of Wilmington’s Office of Economic Development
The city’s Office of Economic Development is dedicated to fostering a diversified local economy by promoting various industries and initiating programs to increase job opportunities. The office assists small, minority, and women-owned businesses through training and technical assistance programs designed to facilitate greater access to the public and private marketplace. Additionally, the Grow Wilmington Fund offers longer loan terms and below-market interest rates to help small and medium-sized companies expand their businesses within the city.
State-Level Support
At the state level, the Delaware Division of Small Business offers various incentives and tax credits to help businesses secure new capital or retain more revenue. Programs like the EDGE Grant Competition provide funding to young Delaware small businesses through a competitive selection process and pitch competition. The State Small Business Credit Initiative (SSBCI) aims to provide access to capital for small and early-stage businesses, particularly those in underserved areas.
By leveraging these resources, Wilmington’s entrepreneurs can access the support and tools necessary to navigate the challenges of starting and growing a business, contributing to the city’s vibrant and dynamic economic landscape.