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Greater Des Moines Partnership Advances Small Business Growth

Location: Greater Des Moines, Iowa
Date: September 9, 2024
Source: CNW

The Greater Des Moines Partnership (GDMP) is making significant strides in enhancing the success of small businesses and entrepreneurial ventures through its creative programs, Spark DSM Business Incubator and Scale DSM Business Accelerator. These initiatives, initiated in 2022, have become essential resources for entrepreneurs, particularly those from historically underserved communities, who are eager to grow and thrive in the Greater Des Moines market.

Spark DSM Business Incubator

Overview of the Incubator

Originally launched as a feature of the Downtown Farmers’ Market, which is sponsored by UnityPoint Health – Des Moines, the Spark DSM Business Incubator aimed to connect small businesses with opportunities they might otherwise miss due to traditional outreach limitations. It quickly became apparent that many small businesses with great potential simply weren’t aware of the vendor application process or what it takes to participate successfully in market events. By utilizing an incubator model, the program has enabled the Farmers’ Market to engage a new roster of vendors, allowing them to test the waters in a booth space for several market days to gauge interest before committing to a more permanent vendor position in the upcoming seasons.

Expansion and Impact

The Spark DSM Incubator has since expanded its reach, incorporating additional significant GDMP events such as the World Food & Music Festival, sponsored by Veridian Credit Union. These flagship events draw nearly 1 million attendees each year, generating substantial local support for small business initiatives.

Since its inception, Spark DSM has already supported more than 70 businesses, with 23 of those transitioning to full-time market vendors. Two notable success stories include Nadia’s French Bakery and Tullpa Restaurant, both of which illustrate the positive economic impact the program is fostering within the local community. The generous support of sponsors like EMC Insurance and Principal® has been crucial for the program’s ongoing success.

Scale DSM Business Accelerator

Program Structure and Focus

The Scale DSM Business Accelerator, powered by Interise, is now entering its third year and focuses primarily on established enterprises, providing a robust seven-month program designed to transform businesses. The initiative offers valuable resources in the form of knowledge, management skills, and networking opportunities aimed at driving revenue growth, creating jobs, and making a meaningful impact on the local community.

Participants engage with Interise’s acclaimed StreetWise program, which employs practical, case-based peer learning methods tailored specifically to the challenges faced by small businesses. With 14 participants in 2024 alone and a record of 19 successful graduates over the past two years, Scale DSM exemplifies the Partnership’s commitment to long-term financial success for businesses across various sectors, including retail, food service, and construction.

Leadership and Direction

Under the expert guidance of Professor Ryan Bhattacharyya from Iowa State University, the Scale DSM program is finely tuned to attract diverse businesses, providing them with the tools they need to thrive in competitive markets. The support from Wells Fargo has been instrumental in the program’s ability to evolve and cater to its participants effectively.

Success Stories from Participants

Both Spark DSM and Scale DSM programs have catalyzed remarkable growth for many participants. Entrepreneurs have reported enhanced visibility, stronger community connections, and valuable business training that have all contributed to both wider customer bases and better brand recognition.

Gloria Henriquez, owner of Tullpa Restaurant — which brings the rich culinary flavors of South America to the heart of DSM — articulated her experience: "The Spark DSM Business Incubator has been a transformative experience for my restaurant in many different ways. It has significantly increased our visibility and attracted a broader audience, elevating my restaurant to new heights."

Perlla Deluca, the owner and CEO of Southeast Constructors, Inc., echoed similar sentiments about the Scale DSM Business Accelerator: "We keep growing, and the focus on understanding finances, our product offering, and leveraging our resources has been crucial. This program has boosted my confidence and refined my skills, enabling me to secure additional contracts and forge a successful path forward."

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Conclusion

The Greater Des Moines Partnership stands as a formidable advocate for the region’s small business ecosystem, propelling economic growth through initiatives like Spark DSM and Scale DSM. For those interested in learning more about these programs or the Greater Des Moines region as a whole, further information can be found on their website.

About the Greater Des Moines Partnership

The Greater Des Moines Partnership acts as a catalyst for economic and community development throughout the Greater Des Moines area. Collaborating with 23 Affiliate Chambers of Commerce, a membership base of over 6,500 regional businesses, and more than 400 investors, GDMP aims to unify its efforts towards economic outreach and growth. Through innovative strategies, global collaboration, and community commitment, this organization promotes DSM as the premier destination for business, career, and future opportunities. Learn more at DSMpartnership.com.

Contact Information

Kyle Oppenhuizen
Email: [email protected]
Phone: (515) 286-4972
Discover more about DSM USA at the official Greater Des Moines Partnership website.

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