Native Entrepreneur in Residence (NEIR) Program

Native Entrepreneur in Residence Program

Amount: $12,000 stipend per participant; CDFI financing up to $150,000 investment in graduating businesses

Status: Active/Ongoing (launched 2014)

Geographic Scope: Initially New Mexico-focused, expanded to serve participants from Oklahoma, Montana, South Dakota, Arizona, and California

Focus Areas: Native American entrepreneurship, tribal enterprise development, business incubation and acceleration

Eligibility: Native American entrepreneurs and existing business owners seeking to launch or expand ventures

Program Duration: Approximately 6 months per cohort

Description: Flagship program functioning as incubator and accelerator for tribal enterprises. Provides culturally appropriate, supportive environment for Native American participants to gain confidence, grow, and become successful.

Program Components:

Intensive one-on-one mentorship (6 months)

Training on: financial and cash management, marketing, sales, production, administration

Supportive mentoring for entrepreneur pressures

$12,000 stipend

Modern office space for companies that need it

Up to $150,000 CDFI financing for program graduates

Support for Native Women Business Summit (first conference October, second planned February)

Performance Metrics (as of 2017):

26 companies graduated

84 new jobs created

$7+ million in gross revenue generated

Program expanded from original $2 million fund (2015) backed by $5 million in federal funding and grants

Related Program Expansion: W.K. Kellogg Foundation $1.2 million grant (October 2017) launched Financial and Business Basics Program as extension

Funding Structure: Federal Community Development Financial Institution (CDFI) allows investment financing

Contact: Peter Holter, Managing Director of Entrepreneurial Services, NMCC

Website: Native Entrepreneur in Residence program website available