Saint Peter’s University Announces Launch of the Institute for Urban Revitalization through Entrepreneurship with Rising Tide Capital
Jersey City, N.J. – November 15, 2013 – Saint Peter’s University and Rising Tide Capital announced the launch of the Institute for Urban Revitalization through Entrepreneurship. The Institute will bring together representatives from the Jersey City government, higher education, the medical community and other corporate citizens to discuss critical issues, which relate to economic growth and revitalization. The announcement of the Institute was made during a summit at Hudson County Community College titled, “Growing the Local Living Economy – From Ideas to Action.” The event was scheduled in conjunction with Global Entrepreneurship Week.
“Saint Peter’s University continues to be inspired by the work of Rising Tide Capital and like them, we are equally committed to developing local living economies as sources of innovation, economic growth and job creation,” said Eugene J. Cornacchia, Ph.D., president of Saint Peter’s University. “We believe that the Institute for Urban Revitalization through Entrepreneurship and the City of Jersey City can serve as a national demonstration model for local living economies.”
The summit was designed to explore the concept of local living economies and how they are emerging as the engines of innovation for a more inclusive and sustainable global economy. In order to move forward, local public and private leaders must come together to reimagine ways to stimulate economic growth and to tackle job creation by maximizing existing resources. The goal of the Institute is to bring together community representatives to develop both thought leadership and plans of action.
“The Institute for Urban Revitalization through Entrepreneurship is exactly what we are talking about when we speak of taking action,” said Alfa Demmellash, chief executive officer of Rising Tide Capital. “We are thrilled to be working on this initiative with Saint Peter’s University and we are excited that our combined efforts will make this endeavor bigger and better.”
In June 2013, Saint Peter’s University and Rising Tide Capital signed a historic agreement which enables qualified graduates of Rising Tide’s 12-week Community Business Academy (CBA) to receive up to six college credits through prior learning experience from the School of Professional and Continuing Studies at Saint Peter’s University. This is one way that the Institute will work to ensure opportunities for tomorrow’s local business leaders continue. The Institute will also serve as a host for working group sessions and an annual summit for the next three years.
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Saint Peter’s University, inspired by its Jesuit, Catholic identity, commitment to individual attention and grounding in the liberal arts, educates a diverse community of learners in undergraduate, graduate and professional programs to excel intellectually, lead ethically, serve compassionately and promote justice in our ever-changing urban and global environment.
Rising Tide Capital (RTC), a Jersey City-based nonprofit organization founded in 2004 by Harvard graduates Alex Forrester and Alfa Demmellash. RTC helps entrepreneurs start and grow successful businesses by providing a 12-week Community Business Academy—supplemented by year-around workshops, coaching and networking events. These programs are currently offered in Spanish and in English in four cities across Northern New Jersey: Jersey City, Newark, Union City, and Orange Township. 728 entrepreneurs have graduated from the CBA to date, and together, they operate over 355 businesses in New Jersey. RTC’s model of entrepreneurship development has received national recognition from President Obama to CNN Heroes. To learn more, visit www.RisingTideCapital.org.