Applications Now Open for Chicago-area Residents to Receive $5,000 to Turn Business Ideas into Reality

Applications Now Open for Chicago-area Residents to Receive $5,000 to Turn Business Ideas into Reality

CHICAGO, Ill. (April 9, 2024) – Today, Heartland Forward, Builders + Backers and Ford Motor Company Fund announced applications are now open for Chicago residents to apply for up t $5,000 to help them turn ideas into potential businesses or ventures. Anyone with an idea for solving a problem facing their community is encouraged to apply.

The Builders + Backers Idea Accelerator Program powered by Heartland Forward is designed to make it easy for anyone to experiment with entrepreneurship. Applicants are not required tosubmit a business plan or have a pitch deck for their idea. This cohort of 10 Builders in Chicago is part of Heartland Forward’s commitment to supporting more than 1,000 Builders across the heartland by the end of 2024. Those interested can apply here. Priority will be given to residents of the city’s South Side.

The application deadline is May 12, 2024. Residents with the most promising and innovative ideas will be selected to participate in a 90-day virtual program starting on June 3, 2024.

“Bringing a practical, grassroots program like the Idea Accelerator to the heart of Chicago is an example of Heartland Forward in action. In just four years, we have supported 864 builders across heartland communities,” said Ross DeVol, president and CEO of Heartland Forward.

“We love seeing the ripple effects of supporting entrepreneurs at the beginning of their ventures – and know that Chicago residents will step up to join this program.”

“We have no doubt that there are incredible, high-potential ideas across the South Side of Chicago and around the city as a whole," said Donna Harris, CEO of Builders + Backers. "Getting them off the sidelines doesn't just mean more new companies and more jobs, it also

helps create greater local vitality. We can't wait to get started working with Chicago builders."

“Ford and Ford Fund have a rich history in Chicago, and through these new partnerships, we hope to build on that history while creating pathways for aspiring entrepreneurs to pursue their

dreams,” said Mike Schmidt, Economic Mobility director at Ford Fund. “We’re excited to see these new ideas come to life here in Chicago.”

Support for the Builders + Backers Idea Accelerator is a premier part of Heartland Forward’s

Talent Development Strategy. At the heart of the program are the four pillars, designed to mobilize and equip Builders through:

● Idea Accelerator: This cohort-based program combines a 45-day Builder Bootcamp to teach participants how to put ideas into action, followed by 45 days of actively executing their ideas through a single experiment.

● Pebble Fund: All of the Builders are supported by a $5,000 Pebble Grant to test their ideas. Participants are mentored by Builders in Residence throughout the program.

● Storytelling: A comprehensive media program that curates, captures and distributes stories of Buildership™, both from within the programs and in communities everywhere. Through video, written stories, social media and media partnerships, the program inspires people to become Builders.

● Buildership™ Workshops: Workshops and other events introduce people to the ideas of Buildership™ and demonstrate that anyone can generate creative solutions through entrepreneurial experimentation that contribute to the sustainability of communities.

The program was first piloted in Tulsa, Oklahoma, and Oxford, Mississippi, in the summer of 2021. Since then, there have been more than 864 Builders across 13 heartland communities. To

learn more about the Builders, see here.

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