Genesis Block Resident Companies “Crushing IT” 3rd Quarter Results
The Cape Fear Build The Block Plan articulates the vision of Genesis Block to build the entrepreneur class by providing pathways to prosperity. The primary focus is advancing entrepreneurship by providing dynamic and inclusive environments for entrepreneurs to thrive. The Cape Fear Build the Block plan, outlines a 3 year comprehensive strategy that leverages business knowledge, entrepreneurial skills training and business model strategy to boost the economic activity of existing businesses. There is an intentional focus on advancing minority and women owned businesses by providing resources to stimulate growth.
The goal of the Build Block Plan is to develop 120 companies in the Cape Fear region over the next three years with the aim of creating 400 jobs and generating over $13 million dollars in economic activity. Resident companies receive technical assistance, skills training, mentorship, networking opportunities and access to capital in order to strengthen their business venture. Genesis Block defines “resident companies” as any company or founder currently enrolled in an Entrepreneur Academy Program.
We are excited to announce third quarter performance from resident companies. Genesis Block resident companies collectively posted a third quarter revenue total of $721, 871, representing a dramatic increase from the previous quarter total of $201,345. Several companies reported revenue increases of more than double their second quarter totals.
Here is a snapshot of Genesis Block by the Numbers:
- 54 Companies in the Genesis Block Entrepreneur Community
- 38 Resident Companies in Genesis Block Entrepreneur Academy programs
- $721,871 in revenue from Resident Companies
- 28 Corporate and Organizational Partners
- 5 New Businesses Formed
- 124 Jobs from Genesis Block Resident Companies
- 72% of Businesses are Women Owned
- 68% of Businesses are Minority Owned
- Partnered with NC IDEA to Advance Black Entrepreneurship in southeastern North Carolina
- Partnered with New Hanover County to support minority entrepreneurship training
- Partnered with CastleBranch to build a technology platform (ANZA and the Genesislist) to advance minority entrepreneurship in North Carolina
- 825 Attendees at workshops
- 6800 Virtual Attendees
- 54 Companies Receive Business Development Services with Genesis Block
- 36 Entrepreneurship & Small Business Workshops
The entrepreneurs at Genesis Block are poised to have a successful fourth quarter and Team Tsunami is ready to demonstrate their entrepreneurial prowess to the community. The second cohort of the Genesis Block Back on the Block Minority Accelerator graduates on Friday, October 8, 2021 6:00 p.m. at Genesis Block.
Register here https://www.eventbrite.com/e/shark-tank-on-the-shore-back-on-the-block-accelerator-graduation-demo-day-tickets-17731686852
“We have such gratitude that Genesis Block was created for entrepreneurs in our community. What an incredible experience with truly inspiring people. Their accelerator program gave our company real world actionable steps to succeed and scale. The creative energy Tracey and Girard brought out in Team Phoenix members is just pure inspiration. We look forward to being members of the Genesis Block family for years to come and playing our role to give back to this amazing community. There aren’t enough words to fully express our gratitude,” says Puddle Jumpers Nature Preschool owner Misty Mayfaire. Puddle Jumpers Nature Preschool is one of the fastest growing companies in Genesis Block and recently opened a new location in Leland, North Carolina.
The entrepreneurial journey is the destination at Genesis Block. We are honored to be a collaborator in advancing entrepreneurship in the Cape Fear Region.
