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

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

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