Hatching New Businesses: How Accion & The Hatchery are Supporting Entrepreneurship
COMMUNITY AREA #27: East Garfield Park — Accion & The Hatchery
EAST GARFIELD PARK — A few years back, Accion Serving Illinois and Indiana, a nonprofit lending organization that provides fiduciary support to underserved populations, had an unexpected epiphany: they needed more kitchens.
Together with a partner organization that has similar affinities, the Industrial Council of Nearwest Chicago (ICNC), Accion realized that the majority of their client base was making strides towards opening food establishments of some sort. In order to support them beyond providing capital to get things started, Accion and ICNC built The Hatchery, an incubator space designed to help budding food and beverage entrepreneurs grow through their nascent stages.
With The Hatchery, Accion expects to support the development of over 53 businesses that will create and maintain some 900 jobs in the first five years, generating $25 million in revenue. At its location off the Kedzie stop on the Green Line in the center of East Garfield Park, it is also hoped that The Hatchery will help to bring new businesses and consumers to the area.
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Want to get involved? The Hatchery offers classes and events that showcase the entrepreneurs who utilize the workspace. Additionally, you can get involved in some Accion’s programs, which offer guidance and support for entrepreneurs, in addition to funding.
The 77 Project is a storytelling and media project presented in partnership with Xfinity with additional support from Robert Wood Johnson Foundation to help redefine the narrative of our neighborhoods from the inside out. We’ll spend 2019 shining a light on organizations and individuals in each of the 77 community areas of Chicago who are making a positive impact. Know someone we should speak with? Recommend them here.