The University of Montana has partnered with Wells Fargo to create the Rural Entrepreneurship And Leadership Co-Lab for Women.
The new program aims to communicate and research the challenges facing women starting and growing businesses in rural America. The lab will develop replicable business models for entrepreneurs and business owners, create pathways between women owned business and investors, and research ways to promote women entrepreneurs in rural communities.
“As the Bank of Doing, our goal is to strengthen the small business sector and empower as many entrepreneurs as we can,” said Katie Rollyson, lead specialist of philanthropy and community impact at Wells Fargo. “We’re thrilled to partner with UM to launch the REAL Women Co-Lab because we know every business is unique, but there are common needs and characteristics based on where they stand in the business lifecycle as it evolves from an idea into a mature, thriving company.”
“Wells Fargo has supported multiple efforts for women’s entrepreneurship,” said Morgan Slemberger, senior director of the REAL Women Co-Lab. “Their funding will aim to find solutions for women accessing capital, which not only supports women, but it supports funders to better address the evolving needs of rural communities and their economies.”
For their first initiative, the lab is partnering with two rural lenders, Snowy Mountain Development and Dakota Business Lending, to connect them with women entrepreneurs in rural Montana and North Dakota communities.