The Scheinfeld Center for Entrepreneurship & Innovation at Santa Barbara City College recently celebrated the conclusion of its 2021 Get REAL Accelerator program with a live broadcast of its “Get REAL Shark Tank.” Inspired by the hit TV show, this version of “Shark Tank” featured three student entrepreneurs who shared their business pitches with a panel of local business leaders hoping to earn their “investment” of a $10,000 prize to help make their plans a reality. John Harmon and his Oil Slick+ Adhesive Remover ultimately won the prize sponsored by Union Bank and will use it to expand his product line into wipes for medical tape adhesive removal, aimed particularly at Type 1 diabetics who wear medical devices, providing an easy way to remove medical tape.
The event also featured the announcement of a new joint effort between the Scheinfeld Center, SBCC Foundation and SCORE. The Santa Barbara Economic Growth Accelerator is an expansion of the network for support that the Scheinfeld Center offers area entrepreneurs from conception of their business now all the way through to growth opportunities. The Accelerator will be a six-month long program for business owners in Santa Barbara County who are planning to launch a growth initiative in 2022. Applications to join the Accelerator will open in spring 2022. Up to six companies will be selected to receive tailored training and work with a dedicated mentor to design their growth initiative and attain six-month goals in preparation for implementing it. If they meet their goals during the Accelerator program, they will then be eligible to apply for a contingent grant of up to $100,000. The business awarded the grant will receive free monthly mentoring from SCORE to help them carry out their growth initiative within 12-months. If the initiative is completed, the grant will not need to be repaid.
As a proof of concept for the benefit of the program, a 2021 recipient of the first contingent grant was awarded during the event as well. Jennifer Lowe of Montecito Estate Management intends to use the grant to shift her independently owned company to an Employee Ownership Trust model to enable her staff team to develop career pathways and opportunities for greater compensation. SCORE Santa Barbara County will mentor Lowe and her team as they pursue this transition and collaborate with the Scheinfeld Center to deliver tailored employee training.
Greg Loosvelt, the Accelerator’s originator, stated, “The Santa Barbara County Economic Growth Accelerator is aimed at creating a better Santa Barbara economy for all. Entrepreneurs create most net new jobs in the United States, yet at least 83% of entrepreneurs do not access institutional forms of capital, such as bank loans or venture capital. Many businesses stay small and do not hire a single employee. This absence of growth and productivity is highly correlated to either limited capital and/or limited business skills. The Economic Growth Accelerator serves to alleviate these issues in Santa Barbara County.”
The Economic Growth Accelerator is a collaboration between the Scheinfeld Center, the SBCC Foundation, SBCC, and SCORE, with each organization contributing its strengths and resources to bring this opportunity to Santa Barbara County business owners. The Program strengthens the Scheinfeld Center’s pipeline of entrepreneur development and integrates SBCC’s credit and non-credit programs, as well as fulfilling SCORE Santa Barbara’s core mission of improving business talent in Santa Barbara County. Regional business owners can learn more about this opportunity by contacting the Scheinfeld Center director, Julie Samson at 805-965-0581 ext. 3643, or jasamson@sbcc.edu.
About the Scheinfeld Center for Entrepreneurship & Innovation
The Scheinfeld Center for Entrepreneurship & Innovation at Santa Barbara City College is a hub for entrepreneur development in Santa Barbara County, and it serves as a model program for other California community college districts. As part of the Jack & Julie Nadel School of Business & Entrepreneurship, the Scheinfeld Center trains globally competent entrepreneurs using a comprehensive approach that includes academics, hands-on learning, and business support. Participants can build their business in the classroom and shore up gaps in their entrepreneurial skill set through the Scheinfeld Center’s distinctive combination of coursework, business plan and pitch competitions, internships, no-cost business consulting, mentoring, networking, and post-startup support. To learn more, visit www.scheinfeld.sbcc.edu
About Santa Barbara City College
Founded in 1909, Santa Barbara City College currently serves approximately 15,000 students each semester who enroll in courses for transfer preparation, career education, and foundational skills. SBCC was the 2013-2015 national co-winner of the prestigious Aspen Institute Prize for Community College Excellence. The college was recognized for its quality and focus in four areas: facilitating underrepresented and minority student success, student learning outcomes, degree completion and transfer rates, and labor market success in securing good jobs after college.
Our Mission: As a public community college dedicated to the success of each student…
Santa Barbara City College welcomes all students. The College provides a diverse learning environment and opportunities for students to enrich their lives, advance their careers, complete certificates, earn associate degrees, and transfer to four-year institutions.
The College is committed to fostering an equitable, inclusive, respectful, participatory, and supportive community dedicated to the success of every student.
About the SBCC Foundation
The SBCC Foundation has provided Santa Barbara City College with private philanthropic support since 1976, serving as the vehicle through which individuals and organizations may invest in the college and its students. As an independent 501c3 nonprofit organization and partner to SBCC, the SBCC Foundation awards more than $5 million annually for student success programs, scholarships, book grants, emergency funds, and other critical needs of the college. For more than four decades, the resources raised and managed by the SBCC Foundation have supported SBCC students as they prepare for careers, transfer to four-year universities, and pursue lifelong learning goals. In 2016, the Foundation launched the SBCC Promise, offering all recent, local high school graduates the opportunity to attend SBCC full-time at no cost. The SBCC Promise relies entirely on private support and covers all required fees, books, and supplies for up to two years. To date, more than 5,000 local students have participated in the SBCC Promise. By removing financial barriers, the SBCC Promise ensures that SBCC’s life-changing educational programs are fully accessible to all local students. For more information, visit http://www.sbccfoundation.org
About SCORE
SCORE Santa Barbara (https://santabarbara.score.org) serves Santa Barbara County as part of SCORE. SCORE Santa Barbara’s all volunteer team provides free mentoring, interactive workshops and webinars to members of the local business community. Our mentors have a broad range of business skills and experiences that they share with business owners and people starting new businesses.
Since 1964, SCORE has helped 11 million entrepreneurs to start or grow a business. SCORE’s 10,000 volunteers provide free mentoring, workshops and educational services to 1,500+ communities nationwide, creating 45,027 new businesses and 74,535 non-owner jobs in 2020 alone. Visit SCORE at www.score.org. Follow @SCOREMentors on Facebook, Instagram and Twitter.
