FSU’s Broadwell College of Business and Economics Receives More Than $2.7 Million to Expand Entrepreneurship and Business Development
FAYETTEVILLE, N.C. – Fayetteville State University’s Broadwell College of Business and Economics has received more than $2.7 million from the U.S. Department of Commerce to expand business education and development programs serving small business owners in Cumberland County and rural communities across Eastern North Carolina.
The two awards from the Minority Business Development Agency will support FSU’s Entrepreneur Launch & Accelerator Program and establish the FSU Entrepreneurship Historically Underutilized Business (HUB) MBDA Rural Business Center. Both awards were issued Sept. 14.
“These awards position Fayetteville State to help turn our academic goals into businesses that create jobs and contribute to the economic strength of our region,” said Scott Krawczyk, Ph.D., provost and vice chancellor for academic affairs. “We have an opportunity to connect people with the expertise and resources they need to build businesses that can grow and create opportunities in their communities.”
Nearly $2 Million to Launch Entrepreneurship Accelerator
Under the leadership of principal investigator Meysam Manesh, Ph.D., and project director Assad Tavakoli, Ph.D., the university has been awarded $1,990,990 for the new Entrepreneur Launch & Accelerator Program. The two-year initiative will help innovators move from idea validation to venture launch and growth.
The program will be delivered through four 10-week cohorts and will incorporate FSU’s Real Venture Studio, AI Entrepreneurship Academy, Venture Launch Portfolio and Entrepreneur Success Network. The initiative is designed to strengthen business formation, commercialization readiness, technology adoption and entrepreneurs’ ability to pursue capital and contracting opportunities.
Student entrepreneurs, veterans, military spouses, aspiring founders and early-stage business owners throughout Cumberland County, including Fayetteville and the Fort Bragg military-connected region, are among those the program is designed to serve.
“We want entrepreneurs in the FSU Entrepreneur Launch & Accelerator Program to leave with the knowledge and confidence they need to build sustainable, scalable businesses,” said Manesh. “Through this investment, we hope participants will strengthen their business models, improve their use of technology and AI, and become better prepared to secure funding and reach new customers.”
The award runs through Aug. 31, 2028.
Rural Business Center to Serve 23 Eastern North Carolina Counties
Tamara C. Colvin, DBA, executive director of the Fayetteville-Cumberland Regional Entrepreneur and Business HUB, has secured a separate $740,000 award to establish the FSU Entrepreneurship HUB MBDA Rural Business Center for Eastern North Carolina, expanding FSU’s business development services to rural businesses across 23 counties.
The center will focus on capital access, digital and e-commerce capabilities, government procurement, and advanced and additive manufacturing. Robeson, Scotland, Richmond, Bladen and Columbus counties will receive intensive monthly programming through the FSU HUB, while the remaining 18 counties will be served through virtual and hybrid programming.
The initiative builds on the FSU HUB’s existing work. Since 2022, the HUB has served 8,270 clients, supported the launch of 246 businesses and contributed to the creation of 1,033 jobs. It has facilitated approximately $150 million in contracts and $34 million in capital formation.
“Eastern North Carolina is full of entrepreneurs with the talent and vision to build thriving businesses, " said Colvin.”This Rural Business Center connects them to capital, small business development training and hands-on support they need to start, scale and succeed. Our goal is simple: more businesses launched, more jobs created, and more capital flowing into rural communities."
The FSU HUB will be the only MBDA-designated resource serving rural Eastern North Carolina. The three-year award runs through Aug. 31, 2029.
“Together, these awards represent an extraordinary period of success for the Broadwell College of Business and Economics and Fayetteville State University,” said BCBE Dean Ulysses Taylor. “They strengthen our ability to support entrepreneurship, innovation, commercialization and economic development while expanding the reach of that work across the region.”