Economic Development Partners Spotlight:
Lowell's economic success depends on strong partnerships. The City of Lowell's Economic Development Office is fortunate to work with some great local and regional organizations. Together we offer a wide variety of services and assistance to Lowell businesses.
Could you talk a bit about your organization and the resources it provides to local businesses?
We are a small business incubator that uses entrepreneurship to strengthen the economies of Lowell and Lawrence through our accelerator program. We run two accelerators per year, working with fifteen businesses at a time. They begin with an intensive twelve weeks of classes. Then each business receives three mentors who help them identify their customers and set goals as they move forward. Over eighty percent of the businesses we have launched since 2011 are still active today!
What business sectors do you work most closely with?
Over sixty percent are smaller businesses. Around twenty percent are scalable, high-growth businesses that will grow to be very large. Ten percent are social impact organizations - these are our 501(c)3 non-profits such as Mill City Grows and Katie's Closet.
At what stage of business do your services come into play?
We work with businesses in the idea stage and relatively new businesses. Many businesses we work with are facing a specific challenge they are trying to overcome, whether they cannot quite decide who their customer base will be, or they are not profiting yet.
Are there any trends you have been seeing in start-ups?
EforAll continues to see many technology-intensive ideas, along with consumer-driven service businesses like yoga and car detailing. We have been seeing many ethnic food businesses, which are awesome because they share culture with the community through food.
How does your organization partner with the Economic Development Office?
The Economic Development Office and EforAll really have aligning missions; both of us want to create economic development opportunities in Lowell by attracting and supporting businesses. We want Lowell to be a small business destination - a place full of thriving enterprises, creativity and diversity. Because of this we work together quite often, co-running mini pitch contests and accelerator events.
What do you enjoy most about your job?
I love working with the entrepreneurs. They are so passionate and committed and I am continuously learning from them. Seeing them succeed is such rewarding work!
For more information about EforAll, please visit their