BEDC ENROLLING CLIENTS FOR UPCOMING LAUNCH CLASS

BROOKLYN, NY—November 14, 2003—Brooklyn Economic Development Corporation (BEDC) is now enrolling students for a multi-week LAUNCH Entrepreneur Training Program designed to help individuals who have a mental health diagnosis start their own businesses.

Entrepreneur classes will be held weekly from 11 a.m. to 2 p.m. beginning Friday, December 5 at BEDC’s offices, 175 Remsen Street, Suite 350, in downtown Brooklyn. Registration by November 24 is required. To register or for more information, call Marjorie Schulman at 718-522-4600, ext. 22. The program is free to qualified clients from all five boroughs of New York City.

The LAUNCH (Lead, Act, Undertake, Navigate, Change, and Heal) Program offers classes to help clients successfully conceptualize and prepare a professional business plan, obtain permits and licenses, apply for financing, and operate a business, which could range from a modest, home-based business to a more sophisticated enterprise. Additional coaching will be available. As an alternative to the formal classroom session, clients may select a more individualized training program. Clients will learn to develop and sell their ideas, project and manage business finances, develop computer skills, and understand and comply with government requirements.

Individuals who are in recovery from a mental illness, those who have been disabled with conditions such as severe depression, or those who previously used drugs or alcohol are among those eligible for the LAUNCH Program, which is being funded under a grant from the New York City Department of Health and Mental Hygiene. Clients should be mentally stable or in drug and alcohol recovery for at least 18 months to participate.

BEDC is running the program in cooperation with Brooklyn Psychiatric Centers. Therapists from Brooklyn Psychiatric Centers will evaluate potential participants to ensure that they qualify to participate in the program. Even if a potential participant has not received a mental health diagnosis, he or she may be eligible for the program if their evaluation results in a referral to a treatment program.

Since BEDC introduced the LAUNCH Program last spring, dozens of individuals with a mental health diagnosis have drafted business plans, started new businesses, and received entrepreneurial training.

The LAUNCH Program’s successes include:

• Fifty clients have participated or are currently participating in the program through the 15-week entrepreneurial training class held last spring, specialized business workshops, or one-on-one technical assistance.
• One client who completed a business plan with the assistance of LAUNCH received equity financing and opened a new business in lower Manhattan.
• Three clients submitted business plans to the Brooklyn Business Library’s PowerUp Business Plan Competition.
• A number of clients have submitted business plans to and received funding from the Trickle Up Program to start or expand their small business.
• The LAUNCH Program was profiled by Eve Bender in Psychiatric News, a publication of the American Psychiatric Association, in its September 5, 2003, issue. For a copy of the article, “Mental Illness Doesn’t Deter Future Entrepreneurs,” see http://pn.psychiatryonline.org.
• Through a partnership with Dress for Success, BEDC and LAUNCH Program clients are now eligible to visit the Dress for Success showroom and pick out a suit in which to conduct an interview.
• BEDC will soon be able to offer loans to some LAUNCH clients thanks to a loan guarantee program offered by the Abilities Fund, which is the first and only nationwide community developer and financial lending institution targeted exclusively to advancing entrepreneurial opportunities for Americans with disabilities.

BEDC, a private, nonprofit organization, was established in 1979 to stimulate Brooklyn's economy and create job opportunities for the borough and its residents. BEDC has evolved into a multi-service, business-consulting agency, serving more than 1,000 clients annually and offering comprehensive economic development services. More information is available at www.bedc.org.