Resource III

About the Program

The Resource III program will increase community-led ESO’s capacity to:

• Grow and Operate Sustainably by providing direct access to growth capital, with an emphasis on unrestricted funding.

• Accelerate and Support Startups by participating in bespoke training, organizational and leadership development workshops, alternative financing, and fundraising workshops. 

• Build Networks of Opportunity by providing ESOs with greater direct access to decision-makers and gatekeepers to increase access to opportunities and resources that might otherwise be difficult to obtain.

• Cultivate and Convene a National Community of Practice convening community-led ESOs that will work together to shift the center of support and financing to entrepreneurs in their local communities.

About Resource

The barriers that prevent capital from being distributed equitably are systemic, not insulated, and will require structural, relational, and transformational change. Organizations whose leadership are proximate to the beneficiaries they serve are able to form unique insight into the challenges faced by their local communities. For early-stage startups, Entrepreneur Support Organizations (ESOs) are often the first and most informative opportunity for founders to grow their network, expanding access to critical social and financial capital necessary to scale.

Since its initial launch by Village Capital and the Black Innovation Alliance in 2021, the Resource initiative has supported 23 community-led ESOs. In the last two and a half years, these organizations have raised over USD 23MM in operational funding, supported over 3,500 entrepreneurs, and helped founders raise over USD 400MM in investment capital. The average Resource ESO has helped drive more than USD 34MM to community-led startups, who have, in turn, created over 800 jobs since October 2021.

Village Capital, in collaboration with Truist Foundation, launches Resource III to support ten community-led ESOs in the US Southeast, enhancing their access to resources and networks to accelerate diverse entrepreneurs.

Eligible Entrepreneur Support Organizations (ESOs) must:

• Be legally incorporated as a for- or non-profit entity.

• Have operations in Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, Washington DC, or West Virginia.

• Have been operating for more than 1+ year or have grown from co-founder/founder to 3+ team members.

• Support early-stage founders in their local and regional communities who are growing scalable solutions through cohort-based incubation/accelerator programs.

Resource Stories: Meet Our Alumni

Build in Tulsa, part of the Resource community, was conceptualized as a way to honor the legacy of Black Wall Street. They want to restore Tulsa’s place in Black America as being a destination for Black entrepreneurs. 

Learn more about Ashli Sims’ path and the incredible work that Build in Tulsa is doing to amplify Black entrepreneurs and close the racial wealth gap.

You can also learn the stories of other Resource alumni on the VilCap blog.