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How the Stanford Latino Entrepreneurship Initiative, LBAN, and ELEVATE Are Supporting Latino Entrepreneurship
LatinosBuild
October 29, 2024
By Mónica Talán
I’ve had the opportunity to see how Latino Business Action Network (LBAN) has impacted Latino entrepreneurship which is why I loved reading a recent profile in the Stanford Report about the Stanford Latino Entrepreneurship Initiative (SLEI) Education Scaling Program. Through a partnership between Stanford Graduate School of Business and LBAN, the program aims to grow large Latino-owned enterprises. Participants not only gain access to top-tier education and mentorship but also benefit from a strong ecosystem of support, helping them scale operations and contribute to job creation across the country.
Programs like SLEI serve as critical tools for overcoming barriers faced by Latino entrepreneurs, such as access to capital and networks. Notably, participants generate over $10.5 billion in annual revenues and employ nearly 58,000 people. The initiative’s Startup Accelerator and annual State of Latino Entrepreneurship report further build momentum, supporting early-stage and established ventures alike.
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The broader economic significance of Latino entrepreneurs is clear, with Latino-owned businesses representing one of the fastest-growing segments of the U.S. economy. This brings me to the second program I read about is the Ares Foundation's ELEVATE initiative complement SLEI’s mission by addressing systemic inequities and supporting wealth creation through entrepreneurship. Data shows that if Latino-owned firms align proportionately with their population size, the economic impact could be transformative.
This interconnected network of initiatives reflects a shared mission: promoting Latino economic empowerment and driving overall U.S. growth. Samuel Franco
Latino Builder: Samuel Franco
Each week we profile a Latino/a leader and ask them two questions. Meet Samuel: Founder, Infrastructure Professional, Relationship Builder.
What made you decide to launch a startup? I wanted to use the skills and knowledge that I gained over the years to give back. I was lucky enough to be in rooms that many people never get to be and wanted to utilize that opportunity to give back.
What advice do you have for anyone launching a business? Piensalo bien and have patience.
