Wednesday, August 13, 2014

Fwd: Young Entrepreneurs: Millennial Project // Success Story Update // Inland Northwest Universities



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From: Small Business Administration <news@updates.sba.gov>
Date: Wed, Aug 13, 2014 at 9:33 AM
Subject: Young Entrepreneurs: Millennial Project // Success Story Update // Inland Northwest Universities
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SBA Reporter

August 13, 2014

SBA District Director Speaks to Millennial Trains Project Participants

Millennial Trains Project Make First Stop in Seattle

SBA has teamed up with The Millennial Trains Project, traveling from Portland, Ore. to New York City, August 7-17 to take part in a coast-to-coast mobile business incubator to help inform, educate and explore opportunities in entrepreneurship.

During its first stop in Seattle this past Friday, participants gathered  at WeWork Seattle to listen to speakers including SBA representatives Jack Bienko, deputy director in the Office Of Entrepreneurship Education, and Nancy Porzio, director of the Seattle District Office (pictured above) along with representatives from the White House Office of Social Innovation, Amazon Headquarters, and Citizen University.

The Millennial Trains Project promotes diverse groups of entrepreneurial, creative and civic-minded millennials to explore America's new frontiers through on-train seminars, workshops and mentor sessions. The SBA will provide information sessions and mentorships to small business owners and entrepreneurs both on the train and at the stops along the way. Stops include the following cities: Portland, Ore., Seattle, Wash., Whitefish, Mont., St. Paul, Minn., Milwaukee, Wis., Chicago, Ill., and New York City.

Read more about the SBA connection to the Millennial Trains Project on the SBA Community Blog.

Dan Price with Lombardi's customer

Where Are They Now? Success Story Update on Dan Price from Gravity Payments

In 2010, Dan Price was named the Washington SBA Young Entrepreneur of the Year and went on to be selected as the 2010 SBA National Young Entrepreneur of the Year. Price is the CEO and co-founder of Gravity Payments, a transaction services firm that helps provide transparency and negotiating power for small businesses and their credit card transaction needs.

When he won the SBA award, Gravity Payments had 45 employees, processed more than $1 billion in transactions every year, and was one of the fastest growing small businesses in the U.S.

Since then, Price's team has grown to more than 100 employees and his company processed more than $6 billion in payments last year for the more than 11,000 community business customers they serve across all 50 states. He's also earned the 2014 Seattle Business CEO Excellence Award, 2013 GeekWire Young Entrepreneur of the Year Award, 2009 Seattle Mayor's Small Business Award, Puget Sound Business Journal's 40 under 40, and is one of five finalists in Entrepreneur magazine's national Entrepreneur of 2014 Award.

He continues to support the community through the "Gravity Gives" program – where 10 percent of the company's annual profits are divided among each employee to donate to the charity of their choice – and recently took time to join an SBA representative to speak to a group of high school students participating in the Integrity Solutions youth entrepreneur leadership training.

"When I look at Gravity's success, it comes from the fact that we are out there serving others. That's our ethos. That's who we are," Price said. "We might not make the most money. There might be an opportunity to make more money, but helping others is really fun. And it makes us really happy. We hope in the end it will also make us successful."

The Inland Northwest Business Plan Competition Awards Ceremony

SBA Staff Fostering Young Entrepreneurs Through Inland Northwest Universities, Colleges

The Inland Northwest Business Plan Competition is an annual event hosted by Whitworth University and involves all of the major colleges in the area including Gonzaga University, Eastern Washington University, and Community Colleges of Spokane. Joel Nania, SBA economic development specialist and former small business owner, participated on a panel that reviewed the participants' completed business plan and live presentations.

That competition awarded $10,000 to winners in multiple categories following a three-month process of crafting a business pitch and executive summary, completing a business plan, and giving a live presentation at Whitworth. The award ceremony is pictured above.

Nania and Ted Schinzel, SBA Spokane Branch manager, have also recently shared SBA resources with the entrepreneur and intermediate business plan development classes at Spokane Community College and hosted entrepreneurial students from Whitworth University in the SBA Spokane offices to discuss resources and the process of starting a small business.  

Connect with us for news and resources

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Spokane, WA 99201
Phone: (509) 353-2800
E-mail: SpokaneBranch@sba.gov
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