The Delaware Black Chamber of Commerce’s Business Incubator has two local entrepreneurs moving into affordable offices next week.
The DEBCC has a row of 10 office spaces up for rent in Wilmington’s Elwyn Building known as Incubator Row. It supports early stage and mid-level businesses to help them grow and overcome barriers to entry.
DEBCC founder, president and CEO Ayanna Khan said this initiative fits the organization’s mission to provide direct support to small businesses, especially minority entrepreneurs.
“We're talking about a demographic that [has] the spending power, [has] the revenue and they contribute to Delaware's economic vitality, but just doesn't have the same resources,” Khan said. “So it's important for us to ensure that we're creating a business ecosystem that's inclusive and equitable for them.”
Rent for window offices is $900 and inner offices are $800. Utilities are included, and business owners have access to industry experts for advice through a partnership with Western Governors University.
“Where else in the city, Downtown Wilmington, are you going to find that?” Khan asked.
The spaces in Wilmington’s Elwyn Building also come with access to administrative support.
DEBCC said these resources and more reduce overhead costs as business owners start out and allow them to focus on product development and business strategy.
Khan added the Incubator is a response to members’ calls for offices and meeting spaces.
“Our mission is pretty simple – to provide direct support to minority-owned businesses, to all businesses, but with a real emphasis on minority entrepreneurs, to help provide access to networks and capital that they don't regularly have, and creating a pathway for them [to] wealth,” Khan said.
Khan said the central location gives entrepreneurs visibility to customers and clients they might not otherwise have. It also lowers barriers to entry for industries often inaccessible to underserved communities.
The DEBCC already has 21 entrepreneurs lined up for spaces. Two will move in next week. 10 will get to move in, and the remaining 11 will go on a waitlist.
The organization vetted applicants. Khan said after going through more applications and having conversations with business owners, DEBCC staff will fill the remaining eight office spaces on Incubator Row.
