Rutgers University–Newark and Fiserv, a leading global provider of payments and financial technology solutions, awarded grants to two business owners, who completed a program designed for first-generation entrepreneurs, at the fourth annual Back2Business event.
This year’s awardees — Lina Escobar, founder of Sweet Aurora Soap and Candle, and Brenda Nava, founder of Daniela Event Design & Party Rental — were among 16 graduates of Rutgers Business School’s Entrepreneurship Pioneer Initiative (EPI).
The EPI program, launched through Rutgers Business School’s Center for Urban Entrepreneurship and Economic Development (CUEED), provides mentorship, business education and long-term strategic guidance to first-generation entrepreneurs.
Currently in its 17th year, EPI has provided support to hundreds of entrepreneurs.
Escobar and Nava each received $5,000 grants to invest in growing their businesses.
Rutgers–Newark Provost Jeffrey Robinson, founder of the EPI program, and Jasmine Cordero, its director, pointed out that the event reflected both the program’s impact and the strength of Rutgers–Newark’s partnership with Fiserv.
“Even a few thousand dollars can make a big difference,” said Cordero. “It allows entrepreneurs to put resources toward marketing and operations, and move their businesses forward.”
“Entrepreneurship is what makes this country special,” said Neil Wilcox, Fiserv’s global head of Corporate Responsibility. “It provides opportunity, creativity and jobs. Small-business owners are essential to our communities.”
Linda Wellbrock, vice president of Community Relations and Strategic Partnerships at Fiserv, noted that there are more than 60 million entrepreneurs nationwide and nearly 1 million small businesses in New Jersey, with more than 40% owned by women.
“There’s so much meaning behind what you’ve built,” said Wellbrock.
The grants will help both women take the next steps. Nava plans to open a new space for her business, while Escobar hopes to strengthen Sweet Aurora’s online presence and purchase additional raw materials to meet growing demand.
