New Model for Small Business Incubation Created Through Strategic Collaboration

Baruch Colleges Field Center for Entrepreneurship and Sunshine Suites Join to Assist Entrepreneurs, Support Job Creation during Tough Economic Times

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New York, NY, Sept. 9, 2010 – Baruch College’s Lawrence N. Field Center for Entrepreneurship, and its associated Baruch Small Business Development Center, and Sunshine Suites, a community-based shared office space, announced today that they will work together to enhance services at Sunshine Suite’s small business incubators in Manhattan and offer greater assistance and support to entrepreneurs throughout the tri-state area. Through this collaborative educational pilot, which establishes a new paradigm for incubators and will eventually include an investor community component, the approximately 600 clients of Sunshine Suites, known as “Shiners,” and Baruch College students will have access to opportunities and resources that weren’t available to them before.

Clients renting space at Sunshine Suites will now have the added benefit of onsite guidance and expertise from Baruch’s Zicklin School of Business faculty and advisors, who will provide counseling and workshops. At the same time, students from Baruch College’s entrepreneurship program will learn from guest speakers drawn from the small businesses housed at Sunshine Suites and will also receive job and internship opportunities at those companies. Additionally, finalists in the annual Baruch College Invitational Entrepreneurship Competition who start their own businesses will be given free or discounted office space at Sunshine Suites during their initial launch phase.

“The Field Center for Entrepreneurship at Baruch College has been serving students and the community since 1993 and today we enter the next phase of that service,” said Monica Dean, Administrative Director, Field Center for Entrepreneurship. “By combining forces with Sunshine Suites, we are injecting a shot of reality into the classroom and giving our students additional chances for experiential learning as they help real-life entrepreneurs get their businesses off the ground.”

“We are actively working at Sunshine to support our clients and help them build their businesses, particularly in these challenging times,” said Cheni Yerushalmi, Co-Founder and Managing Partner of Sunshine Suites. “We recognize that this partnership with Baruch College will provide them with invaluable expertise and insight that will translate into business success—and their success will create jobs and drive economic growth.”

The Field Center for Entrepreneurship and the Baruch Small Business Development Center provide one-on-one counseling and technical support services, many at no charge, for start up businesses as well as entrepreneurs who wish to expand their small businesses. Technical support services include assistance in developing business and marketing plans; evaluating and selecting funding alternatives, accounting systems, and technology; supervising employees; and studying the implications of business decisions.

Since July 2005, the Field Center and the Baruch Small Business Development Center have served 4,630 clients; created 959 jobs; and saved more than 600 jobs.

               

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About Sunshine Suites:

Sunshine Suites provides a professional office environment for entrepreneurs with one low monthly fee. A key element of Sunshine Suites is community—renting at Sunshine puts an entrepreneur in the midst of hundreds of other small businesses through simple proximity and regular social and networking events designed to build camaraderie among the “Shiners” and foster professional relationships.

 

CONTACT:    Jennifer Pauly, 646-660-6129; Jennifer.pauly@baruch.cuny.edu