The bank's five-year commitment will support
CIE's training of entrepreneurs in Central Pa.
HARRISBURG, Pa., Oct. 11,
2023 /PRNewswire/ -- M&T Bank (NYSE: MTB) is
strengthening its partnership with the Center for Innovation and
Entrepreneurship (CIE) at Harrisburg
University of Science and Technology by investing
$250,000 in the center's programs to
foster entrepreneurship across Central
Pennsylvania and beyond.
The bank's five-year commitment will assist the CIE in
empowering innovators to build successful ventures through
programming that is designed to provide infrastructure and access
to resources for startups with a focus on minority- and women-owned
businesses. M&T also will work closely with the business owners
to provide technical assistance through financial education and
other mentoring and coaching opportunities, which could result in
the creation of new companies and jobs throughout the Harrisburg region and elsewhere.
"M&T Bank's investment over the next five years signifies
more than just financial support; it represents our belief in local
entrepreneurship to drive positive change and economic growth in
Central Pennsylvania," said
Nora Habig, M&T Bank's regional
president for Central and
Western Pennsylvania. "We are
excited to strengthen our partnership with the CIE as we share a
vision to create an environment where individuals from all
backgrounds can learn, access innovative resources and contribute
to our community."
This is the latest example of how M&T and the CIE are
partnering as leaders in innovation and transformative approaches
to business. In April 2022, the two
organizations launched the first Capital Region Multicultural Small
Business Lab for racially and ethnically diverse entrepreneurs in
Central Pennsylvania. The
program's second cohort wrapped up this past June. About 80
entrepreneurs have completed the program so far.
"We are immensely grateful to M&T Bank for their generous
investment in Harrisburg University's
Center for Innovation and Entrepreneurship," said Dr. Eric Darr, President of Harrisburg
University. "This partnership reaffirms our commitment to
fostering innovation, entrepreneurship, and economic development in
the heart of Harrisburg. With
M&T Bank's support, we will further empower our community of
entrepreneurs to drive forward groundbreaking ideas and fuel the
growth of innovative businesses in our region."
Much of this collaboration will take place at the CIE's
Strawberry Square location, which was completed earlier this year.
The facility meets the increased demand for services to educate
entrepreneurs, develop their businesses and create an environment
that fosters creativity and productivity.
"The bedrock of any community is its local, homegrown business
operations," said Harrisburg Mayor
Wanda Williams. "This overwhelmingly
generous investment by M&T Bank will help the City of Harrisburg strengthen its future by
ensuring people who want to start a business in our city have the
tools to do so at Harrisburg
University. I am incredibly grateful for Nora Habig's leadership at M&T Bank,
realizing we are on the verge of accomplishing tremendous
achievements in Harrisburg."
With both institutions rooted in their dedication to small
businesses, M&T recognizes the value in partnering with the CIE
to propel its already extensive impact. Since its founding in late
2019, the CIE has received more than 250 applications for startups,
delivered more than 27 programs, supported 18 business ideas, and
helped nine companies raise over $3.5
million in investment capital.
About M&T Bank
M&T Bank Corporation is a financial holding company
headquartered in Buffalo, New
York. M&T's principal banking subsidiary, M&T Bank,
provides banking products and services in 12 states across the
northeastern U.S. from Maine to
Virginia and Washington, D.C. Trust-related services are
provided in select markets in the U.S. and abroad by M&T's
Wilmington Trust-affiliated companies and by M&T Bank. For more
information about M&T Bank, visit www.mtb.com.
About the Center for Innovation & Entrepreneurship (CIE)
at Harrisburg University
The
Center for Innovation & Entrepreneurship (CIE) empowers
innovators to build successful ventures, including Harrisburg University of Science and Technology
students and faculty, as well as entrepreneurs in the community. In
addition, CIE offers opportunities for partners to invest in
important scientific discoveries, technological innovations, and
academic research.
Media Contacts:
Scott Graham
(410) 409-4803
sgraham1@mtb.com
Kali Gill
(610) 731-4179
mtb@gregoryfca.com
© 2023 M&T Bank. Member
FDIC.
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SOURCE M&T Bank