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FAQ

Find answers to commonly asked questions about LBAN and SLEI. 

Is LBAN a nonprofit?

  • Yes, we are a 501(c)(3) based in Silicon Valley with a national reach. 

 

Is LBAN a part of Stanford University?

  • No. We are an independent non-profit. However, our founder/visionary is Stanford Graduate School of Business Professor Emeritus Jerry Porras. Other LBAN founders include Victor Arias, a Stanford alumni and former Stanford trustee. Additionally, several other Stanford alumni helped establish LBAN and forge the partnership with Stanford university from the beginning. Stanford University has been an excellent partner and we are grateful for the strong relationship we continue to enjoy with them today.

 

What does SLEI stand for? 

  • SLEI stands for Stanford Latino Entrepreneurship Initiative. LBAN partnered with Stanford to create SLEI to analyze, research, and grow Latino-owned businesses and entrepreneurship across the U.S. LBAN and Stanford lead and support SLEI.

 

How are you funded?

  • We are a non-profit. We make our Stanford research on Latino entrepreneurship available to the public free of charge and for our Business Scaling program at Stanford we only charge participants a fraction of our costs. We are able to do this because of the generous donations of our sponsors and supporters. The donation sources include alumni of our program, individuals wanting to make an impact, foundations, and corporations that want to grow the U.S. economy with greater access and equality for all.

 

Who are your ecosystem partners?

  • We maintain strong connections to the alumni of our program and we invest in building a national ecosystem to support for them. We cultivate various networks of individuals and organizations that serve as mentors, capital providers, corporate procurement partners, etc., for our alumni.  If you are interested in learning more, please contact us here jennifer@lban.us.

 

When is the SOLE forum?

  • Every year we host our State of Latino Entrepreneurship Forum at Stanford. This event is usually at the end of January or during February where present the findings of our SLEI Research and invite business and government leaders. This event is open to the public, but registration is required. It is free of charge. The report itself will be made available online on our website you can find it here.

General LBAN Questions

LBAN Business Scaling Program at Stanford

Do I have to be at Stanford for eight weeks? 

  • No, you are only required to travel to Stanford twice– for the kickoff weekend and for the closing ceremony at the end - this is mandatory. The 9-week course occurs online, and it is self-paced. You will be required to join a weekly seminar - 2 hours/week every Wednesday.

 

How much does the Business Scaling program at Stanford program cost? 

  • Each seat in the program is valued at over $18,000, but due to the generosity of our sponsors, we can provide a significant scholarship to all admitted participants. The scholarship amount is based on a tiered system according to the applicant company's revenue in the previous year; 

    • $15,500 scholarship for entrepreneurs under $2M; the net tuition cost to the participant is only $2,500.

    • $15,000 scholarship for entrepreneurs between $2M-$7.9M; the net tuition cost to the participant is only $3,000.

    • $14,500 scholarship for entrepreneurs at $8M+; the net tuition cost to the participant is only $3,500.

 

I'm not a tech startup. Can I still apply? 

  • Yes, we encourage business owners from all industries to apply. We are proud that our cohorts represent all industries including brick & mortar, services, and tech business from across the U.S. and Puerto Rico.

 

Can my business be based outside of the U.S. or Puerto Rico? 

  • No, to be eligible, the company must be located in the U.S. or Puerto Rico.  LBAN’s goal is to grow the U.S. economy by empowering Latino entrepreneurship in the U.S. and Puerto Rico.

 

Do participants need to be U.S. citizens?

  • No,  U.S. citizenship is not required. However, the business must be headquartered in the U.S. or Puerto Rico, and the business owner must reside in the U.S. or Puerto Rico.

 

Is the program competitive?

  • Yes, for every cohort, we can only accept about 75 entrepreneurs from across the U.S. and Puerto Rico, and we receive many more applications. However, we encourage all to apply, and we can consider people for future cohorts. Currently, we conduct two cohorts per year.

 

Do I need to have a college degree?

  • No. We do not require any academic degrees whatsoever to participate in the program. Stanford professors teach the program, and there will be assignments. However, you will be asked you to apply the learnings to your business, and you are the best expert on your business. Some participants have not received a high school diploma, and others have advanced graduate degrees from prestigious universities. The program is demanding but we are proud that 95%+ of the participants successfully complete it. 

 

What language is used in the program?

  • The language used in the program is English. The lectures, class discussions, and readings are in English. However, we are not assessing participants on their English language skills. For many people in our program, English is their second language, and their first language is Spanish or Portuguese. And for many others in our program, English is their first and primary language.

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