Wake Tech and Wachovia Wells Fargo Partner to Boost Entrepreneurship

December 15th, 2009


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New Center Will Serve as a Hub for Small Business Development

RALEIGH, N.C. (December 15, 2009) - Wake County's small business owners - and those considering an entrepreneurial venture - will soon have valuable new resources at their fingertips. Wake Technical Community College announced today that it will partner with Wachovia, A Wells Fargo Company to create the Wachovia Wells Fargo Center for Entrepreneurship at Wake Tech's Northern Wake Campus.

Wachovia, A Wells Fargo Company has committed $150,000 to the Center, including scholarship funds to help potential entrepreneurs get the training and support they need to make their ideas take shape. The Center will include curriculum programs for college credit as well as continuing education courses, seminars, and one-on-one counseling. A virtual "colony" of entrepreneurs will be able to share ideas online and solve problems together via the Center's website and extensive resource network.

"Entrepreneurs are the life blood of our economy and their success will help our city and country emerge from this economic downturn," said Jack Clayton, Triangle East Regional President for Wachovia, A Wells Fargo Company. "We are proud to support The Wachovia Wells Fargo Center for Entrepreneurship in a leadership way because we know how critical the small business community is to creating jobs and economic vitality in our community. The Wachovia Wells Fargo Center for Entrepreneurship will provide small business entrepreneurs access to the tools, education and resources needed to help their local businesses grow and thrive."

The Wachovia Wells Fargo Center for Entrepreneurship will be managed by Wake Tech's Business and Industry Center. While the Center will serve any and all entrepreneurs, special attention will be given to women, Hispanic, and other minority business owners.

Programs will include:

  • Entrepreneurship Certificate: A four-course, 12-hour curriculum that teaches students to recognize business opportunities and develop a plan for starting, financing, and operating a small business.
  • Planning the Entrepreneurial Venture: A Wake Tech continuing education course developed by the Kauffman Foundation which gives step-by-step instructions on starting and managing a small business.
  • Entrepreneur Speaker Series: A new forum in which successful local entrepreneurs share personal stories about their business ventures.
  • Colony of Entrepreneurs: A virtual community where program participants can network with and receive support from industry mentors and Wake Tech advisors.

"Wake Tech's Business and Industry Center has long served the needs of small businesses in Wake County," says Wake Tech president Dr. Stephen Scott. "With the Wachovia Wells Fargo Center for Entrepreneurship, we will be able to reach many more would-be entrepreneurs - and support them in new ventures that will create new jobs and have lasting impact in the region. We want to encourage innovative ideas by making the tools for successful business ownership readily available."

Additional sponsors are being sought for the Wachovia Wells Fargo Center for Entrepreneurship. For more information, contact Mort Congleton, Wake Tech V.P. of Development, at 919-866-5924.

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