M&T Bank Commits $250,000 to Harrisburg University's Center for Innovation and Entrepreneurship

Rhea-AI Summary

M&T Bank strengthens partnership with Center for Innovation and Entrepreneurship, investing $250,000 in programs to foster entrepreneurship in Central Pennsylvania.

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• M&T Bank's investment will provide infrastructure and resources for startups, with a focus on minority- and women-owned businesses.
• The partnership aims to create an environment where individuals from all backgrounds can learn, access innovative resources, and contribute to the community.
• 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.

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• None.

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

FAQ

What is M&T Bank's investment in the Center for Innovation and Entrepreneurship?

M&T Bank is investing $250,000 in the center's programs to foster entrepreneurship in Central Pennsylvania.

What is the focus of the partnership between M&T Bank and the CIE?

The partnership aims to provide infrastructure and resources for startups, with a focus on minority- and women-owned businesses.

What are the goals of the partnership?

The goals of the partnership are to create an environment where individuals from all backgrounds can learn, access innovative resources, and contribute to the community.

What has the CIE achieved so far?

Since its founding, 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.