The First African Methodist Episcopal Church (FAME) Renaissance program in Los Angeles will open an incubator in August under a license with The Enterprise Center. The facility, which expects to house up to 25 businesses, will feature shared business services, management assistance and a computer lab. Entrepreneurs in multimedia, print, the visual arts and business services, who've been in business at least one year and who are based in South Central Los Angeles, are eligible to apply.
In addition to the incubator services, FAME has several venture capital funds to help eligible entrepreneurs. The FAME Renaissance Equity Fund targets minority-owned businesses located in the neglected areas of Los Angeles. To date, FAME has raised $15 million and is seeking additional investments. The FAME Renaissance Venture Group, a $10 million fund, mainly targets entrepreneurs in the Los Angeles Empowerment zone.
Both funds aim to help entrepreneurs who've been unable to access traditional venture funds. For more information, call (323) 730-9194.