New Jersey Entrepreneur

Aspiring Entrepreneurs in Jersey City Look to their Role in Local Economy

Goldman Sachs to host an evening celebration of 36 local entrepreneurs graduating from Rising Tide Capital’s Community Business Academy from 6pm to 8pm on Wednesday May 6th, 2009 at Goldman Sachs, 30 Hudson Street.

In the wake of an economic downturn, Rising Tide Capital—a non-profit organization based in Jersey City—is pursuing an innovative way to create economic growth and stability in some of New Jersey’s most distressed urban communities. Through The Community Business Academy—a 10-week course in business management and planning—Rising Tide Capital invests in the potential of talented local entrepreneurs to start and grow successful businesses.

Seeing the success of past graduates, corporate partners like Goldman Sachs and the Garfield Avenue Renewal Company have joined with the City of Jersey City and the NJ Urban Enterprise Zone Authority in funding full scholarships for each of the participants in the program.

The evening’s festivities—by invite only—begin with a 6pm reception and feature prominent local officials and entrepreneurs speaking about the important role that entrepreneurship and small businesses have to play in resisting negative effects of a struggling economy on the local community.

"Graduates of the Community Business Academy go on to open businesses and create jobs in our community, which is especially important during this economic crisis" said Alfa Demmellash, CEO of Rising Tide Capital. "Rising Tide Capital is proud of the role its entrepreneurs will play in revitalizing their communities, and we thank our funding partners for providing full scholarships to local residents to take advantage of this opportunity."

Rising Tide Capital is also using this event as the kickoff celebration of its 5-Year Anniversary of providing business training and consulting to women and minority entrepreneurs in Jersey City. In the Fall of 2007, Rising Tide Capital’s work was featured in Oprah Magazine, Essence Magazine, Redbook Magazine, and The Wall Street Journal. Recently, the company’s CEO was invited to speak at the United Nations Global Summit for a Better Tomorrow on March 4th, 2008.

For more information on our programs please visit: www.RisingTideCapital.org.