ATTACHMENT C
• Caravanserai Project: Provides an access-to-capital program for individuals from marginalized and under-resourced communities, supporting the launch of both for-profit businesses and nonprofit organizations in Palm Springs. • February 2024: $35K (seven local participants, $5K grants to cover essential startup expenses)
• 2021-2023: Over 3000 attendees
o Over 7 5% of these entrepreneurs are women, 80% BIPOC entrepreneurs (29% Black/ African American, 49% Hispanic, 12% Asian).
B • T • • P
Graduation ~
• Cohort-format • Attendance at all • Participants selected business- focused sessions following a competitive
workshops • Develop road map for application process
• 1 : 1 coaching and venture • Ideal participant is:
mentorship sessions • Present pitch deck 1. For-profit entrepreneur • Access to seed located in Palm Springs /
investments and serves primarily Palm
ongoing support from Springs customers
Caravan SBDC 2. Early-stage entrepreneur
3. Minority entrepreneur
4. Low-income
Community
Wellbein2
• Fosters community
engagement
• Enhance quality of
life for all residents
• Enrich variety and
availability of local
amenities
Connection to
Capital
• Connecting
beneficiaries with
sources of capital
• Invested over $2M
Economy Resilience
• Diverse business
environment
• Sustainable small to
mid-sized businesses
• Long-term stability