Incubation Services Available For Businesses Impacted by Light Rail Construction, Minority and Veteran-Owned Businesses

16 December 2004-Phoenix, AZ -- Stealthmode Partners, the leading accelerator for early stage companies in Arizona has announced that it has received an Enterprise Community (EC) Business Technical Assistance Grant from the City of Phoenix Economic Development Department to provide incubation services to City of Phoenix businesses in the following target areas: construction industry; technology industry; businesses impacted by light rail construction; minority and disadvantaged businesses. Applicants are being sought for participants in the program, which begins in January 2005.

Through the interactive FastTracTM program, developed by the Ewing Marion Kauffmann Foundation (www.Fasttrac.org), participants develop a better understanding of the business-planning process, analyze the strengths and weaknesses of their own businesses, write business plans and learn how to address competition and market forces such as light rail. Help will be provided in business law, marketing, operations, customer relations, financial management, and exit strategies. Participants will also gain access to successful local entrepreneurs and service providers, banks, and other financing sources.

The award will fund sixty participants in four sessions: two FastTracTM New Venture training and technical assistance programs for new entrepreneurs and two FastTracTM Planning programs for entrepreneurs who wish to grow their businesses to the next level . The programs are open to qualified residents of the city of Phoenix, with special emphasis on the construction industry and technology community. Because of the grant, participants will pay only the cost of their course materials ($75 for FastTracTM New Venture and $100 for FastTracTM Planning).

A separate partnership with The Veterans Corporation opens the FastTracTM program to any Arizona Veteran, including active Reserve and National Guard members, and military personnel planning their transition from active duty. The Veterans Corporation covers most of the cost of the program for Veteran participants, asking Veterans to cost-share a portion of each course ($350 for Planning, $250 for New Venture).

The next 11-session FastTracTM Planning program begins January 19, and will be held on Wednesday evenings at the law offices of Rogers and Theobald, 2425 E. Camelback Road, Phoenix, AZ 85016 from 5:30-8:30 PM. Applications are being taken now at www.fasttrac.org; Veterans need to apply through the Veterans Corporation at www.veteranscorp.org. Participants in this program must already be in business. Special consideration is given to minorities and women.

For those who are considering a new business, FastTracTM New Venture offers nine weeks of feasibility testing and connections to community resources that can help. The next FastTracTM New Venture begins on Tuesday, January 18, 2005 at the law offices of Rogers and Theobald, 2425 E. Camelback Road, Phoenix, AZ 85016 from 5:30-8:30 PM. Applications are being taken now at www.fasttrac.org; Veterans need to apply through the Veterans Corporation at www.veteranscorp.org. Participants in this program may be at the idea or startup stage. Special consideration is given to minorities and women.

The cost of the programs for those not covered by either the grant or Veterans Corporation subsidy is $750.

For more information about the program, go to www.fasttrac.org.

ABOUT STEALTHMODE PARTNERS

Stealthmode Partners is a network of people and companies working together behind the scenes (in "stealthmode") to help our portfolio companies grow bigger, better, faster. Companies that are accepted into the Stealthmode Partners portfolio receive coaching, consulting, and connections to the people and resources they need to reach success.

Stealthmode Partners is headed up by Francine Hardaway, Ph.D., an experienced technology marketing strategist with special expertise in early stage company operations. Francine is an Entrepreneurial Fellow at the Berger Center of the Eller School of Business, University of Arizona. She has taught entrepreneurship at several Arizona colleges, and is on the Advisory Board of the Medical Informatics Program at Arizona School of Health Sciences (part of the A.T. Still University of Osteopathic Medicine).

ABOUT THE VETERANS CORPORATION

The National Veterans Business Development Corporation, doing business as The Veterans Corporation, was created in 1999 by Public Law 106-50. The Veterans Corporation is charged with providing Veterans and Service Disabled Veterans with the tools they need to start and expand successful businesses, including access to training, access to markets, and access to capital and services. No other public or private organization provides this specific assistance to the 24-million-strong Veteran community. The Veterans Corporation is a 501(c)3 non-profit corporation.

Programs and services from The Veterans Corporation are open to all Veterans, active members of the Guard and Reserve, and military personnel planning their transition from active duty. Information on all Veterans Corporation programs may be found at www.veteranscorp.org.

ABOUT FASTTRACTM

Sponsored by the Kauffman Foundation of Kansas City, FastTracTM is a comprehensive educational program that provides entrepreneurs with business insights, leadership skills and professional networking connections so that the participants are prepared to create a new business or expand an existing enterprise. FastTracTM programs are currently being provided in 147 cities in 40 states. FastTracTM programs also are being offered internationally in three countries Australia, Canada and Sweden. More than 80,000 participants have attended FastTracTM classes in the U.S .