RAISED wins national award for its initiatives to train entrepreneurs, foster economic development

The University Economic Development Association recently recognized the Rutgers Advanced Institute for the Study of Entrepreneurship and Development for its efforts to make communities in the Newark region more equitable through its entrepreneur training programs.

The UEDA’s Judges Award recognizes the impact of RU-Flourishing, a program focused on developing the entrepreneurial skills of ex-offenders, and Urban Solutions Lab, which nurtures entrepreneurial students and their business ideas.

Ted Baker, a Rutgers Business School professor who is director of RAISED, said the award reflects five years of work that has occurred “under Jasmine Cordero’s steady leadership.” 

“Jasmine has put together innovative programming that has improved the lives of dozens of returning citizens and introduced the joys and challenges of entrepreneurship to hundreds of students,” Baker said.

The Urban Solutions Lab supports students interested in prosocial entrepreneurship. It offers paid internships to students to work on their business ideas and ventures while still in school. It also connects students with entrepreneurs who specialize in their areas of entrepreneurial interest, providing an opportunity to gain in-depth knowledge and hands-on experience running a business.

Earlier this year, two young entrepreneurs, Miriam Brickman and Cassandra Severe, were each awarded $10,000 in a USL business plan competition. Brickman started a café in New Brunswick after opening an ice cream business outside Newark. Severe won the seed funding for “Meet Her at the Gate” a re-entry program she started for women returning from incarceration to Essex County.  

RU-Flourishing is a six-month program that supports system-impacted individuals with entrepreneurial ambitions start and build small businesses in New Jersey.  It provides participants with business management training, business and financial coaching, mentoring, and networking opportunities.

This year, RAISED received funding from the state Department of Corrections to help support RU-Flourishing and expand its efforts to train individuals. The DOC provided a $55,000 grant to help raise awareness about RU-Flourishing and its opportunities.

RAISED received the UEDA award in the category of Diversity, Equity and Inclusion. On its website, UEDA noted: “Projects in this category attempt to make their communities more equitable by creating opportunities for historically underserved populations, such as communities of color, unemployed, individuals impacted by the criminal justice system, veterans and persons with disabilities.

RAISED competed against university-based economic development initiatives from across North America that were judged in a six-month process that included a peer review, online presentations, and, ultimately, selection by attendees of the annual UEDA Summit.

RAISED has received funding from PSE&G and Baker said it has also drawn on the talents and generosity of community members who have helped others “trying to make their way and their mark through entrepreneurship while supporting economic development.”

In addition to Cordero, the RAISED team includes Rutgers Business School staff members Sadee Braithwaite and Alfred Blake, assistant director of undergraduate entrepreneurship programs.

-Susan Todd