OLEAN — The Laine Business Accelerator has opened its application process for 2025, giving local businesses the opportunity to apply to become a part of this year’s cohort — the fifth in the Accelerator’s history.
“It’s an exciting time for us to launch the application for this year’s Laine Business Accelerator,” said Bob Forness, Olean Business Development Corporation (OBDC) president and executive director. “As the LBA marks our fifth anniversary, we know that our work to support our area’s entrepreneurs is just beginning, and we are eager to learn about the local businesses that are looking to ‘accelerate’ their company to the next level.”
OBDC, along with the St. Bonaventure University Entrepreneurship Center and Jamestown Community College Workforce Development, operates the program throughout the fall, providing support to small businesses. Commencing Sept. 5, the program includes weekly focus topics pertinent to running a successful business and introduced by subject matter experts who are entrepreneurs themselves.
If selected, cohort businesses will receive $5,000 in seed funding, and mentorships from members of the business community.
Along with speakers each week, additional support comes from the C4 student consulting program at St. Bonaventure, which provides consulting as well as student-intern support for the selected businesses.
The program concludes with an LBA Community Showcase Dec. 9, at 6 p.m., at the JCC Cutco Theater, where the business owners explain their business, what key learnings that participating in the Accelerator provided and what type of community support the business can benefit from.
Interested applicants are encouraged to attend an information session at 6 p.m. July 8 at The Hub Coworking Space in Olean. Prior cohort members will be in attendance to explain the benefits of the program that they realized in their businesses.
Since its’ inception in 2021 following the passing of former Cutco Corporation CEO Erick Laine, the LBA has assisted 30 businesses and awarded a total of $160,000 in seed funding. Many of the previous Accelerator businesses have seen a significant uptick in revenue and exposure since participating in the program.
The LBA selection committee noted that there have been more than 130 applications over the first four years as well.
In 2024, five local businesses participated in the program, culminating with their community showcase at the Cutco Theater. The businesses were Alexander’s Quality Transport, Gardner Chiropractic, Olean’s Wellness Store, Solemates Sneakers and Vintage, and The Rusty Rooster.
The deadline to apply for the LBA is July 14. For more information, visit lainebusinessaccelerator.com.
