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Nothing beats the support of academics and professionals, along with unfettered access to university resources to give your company a leg up in the competitive startup world. That's what graduates of Rutgers University's Entrepreneurs Pioneers Institute (EPI) are learning. EPI was launched by the Center for Urban Entrepreneurship and Economic Development (CUEED) at Rutgers Business School, and since the program began in 2009, it has aided over 180 entrepreneurs, whose companies have collectively generated $35M in annual revenue. Graduates have gone on to create jobs in their communities, spurring wealth and development. And that's what the program is all about. Executive director Lyneir Richardson (pictured) says he gets excited when thinking about the future of the program as it benefits entrepreneurs and their communities, alike. Thanks to access to research, peers, and networks, EPI alumni also have a strong survival and success rate, with more than 80% of the businesses still operating after five years. That's an impressive feat when you consider that more than 50% of the nation's small businesses fail in the first five years.
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