TelevisaUnivision's Posible Small Business Accelerator

Today Latinos represent a power wave of prosperity and the Univision Foundation is helping them ignite the flames of their economic power. Our innovative Posible program offers support and resources to minority entrepreneurs and small business owners through our on-air, online platforms and in-person experiences. Over the last decade, the Posible program has achieved remarkable success in Mexico through the Televisa Foundation (TelevisaUnivision merger), making a significant impact on the small business ecosystem in the country.  Posible offers comprehensive support and tailored resources, including access to experts, mentorship opportunities, funding opportunities, business templates, educational content, and a community forum where users can connect with like-minded entrepreneurs.  The Posible program has registered more than 600k aspiring entrepreneurs through it’s online platform, helping create more than 100k business models alongside aspiring entrepreneurs and graduated 800 from our bootcamp experiences.  In 2017 our US local market began expanding the program through content offerings across our platforms and in person expos. 

 There is no doubt that Latinos are transforming the economic landscape, and TelevisaUnivision is committed to helping them carve that path to a thriving tomorrow.  With our reach and trust of the Univision Brand in the USA, along with the right academic, financial and non profit partners, we believe that we can give Latinos the tools to create sustainable and long term success in business.

The Posible Program provides a comprehensive and empowering digital hub where aspiring minority entrepreneurs can access a range of resources, tools, and information to support their business ventures.

Participating entrepreneurs are able to access a suite of educational content and business planning resources that include templates and interactive tools like business plans, financial projections, marketing strategies.  

Our robust educational content includes online workshops, webinars and courses covering various aspects of entrepreneurship, business management, marketing, finance, all conducted by successful entrepreneurs and industry experts who have valuable first-hand insights and knowledge.  

In line with our core mission of increasing economic mobility for Hispanics in the USA, Posible facilitates connections, providing access to mentorship and networking, relevant partners, service providers and government agencies.  The program also helps facilitate access to capital, connecting entrepreneurs with potential sources of funding that offer support to small businesses in the form of grants, loans, and investment. 

The program’s community network allows our entrepreneurs to connect and interact with each other, share experiences, and seek advice- further strengthening the small business ecosystem for minorities.

We seek to compliment the existing platform with an app to enhance the overall user experience and accessibility.   Meeting our entrepreneurs where they’re at by matching their always on-the-go lifestyle will serve to make Posible more engaging, accessible, and impactful.

Latino’s make up approximately 18% of the US population today, and will increase to an estimated 29% by 2050.  Yet, Latinos only own about 6 percent of employer firms and approximately 14 percent of non-employer firms.  

Latinos face significant challenges and are underserved when it comes to becoming entrepreneurs. Limited access to resources, including capital and mentorship, creates barriers for aspiring Latino entrepreneurs. Historical and systemic factors, such as discrimination and lack of inclusive support networks, have hindered their entrepreneurial journey.

The lack of adequate representation in mainstream business ecosystems often leads to limited visibility, reduced access to opportunities, and lower funding prospects. Language and cultural barriers can further impede their ability to navigate the complexities of starting and growing a business. 

Addressing these disparities is crucial to empowering Latino entrepreneurs and unlocking their full potential, not only for the benefit of the Latino community but also for the broader economy.   If Latino business ownership reflected their population share, an estimated 735,000 new enterprises could be added to the US economy, creating 6.6 million new jobs. 

The Univision Foundation's affiliation with TelevisaUnivision, the largest Spanish language network in the USA, and trusted source of information, puts us in a unique position to provide targeted support, resources, and opportunities, to the community we know and ultimately serve.   

The Posible program aligns seamlessly with the Truist Inspire Awards challenge, encompassing all of its criteria with comprehensive solutions aimed at empowering and supporting aspiring entrepreneurs. 

1. Financial Readiness and Internal Financial Health: Posible equips participants with financial literacy sessions that cover topics such as budgeting, financial forecasting, cash flow management, and investment options.  Participants are guided on how to seek funding, and craft compelling pitches to secure funding and partnerships, including angel investors, venture capital, crowdfunding, and grants.

2. Business Development and Procurement:  Posible fosters invaluable connections, linking small business owners to essential vendors, suppliers, and networks, elevating their capacity to thrive in the market. 

3.  Scaling: Posible also serves as an accelerator, offering long-term business plans, succession strategies, hiring pipeline support, legal advising, and back-office assistance. 

4. Employee Advancement:  Posible educates entrepreneurs on upskilling and reskilling opportunities, offering guidance in managing human resources, and facilitating mid-management or mid-career progression.

5. Data:  Posible educates entrepreneurs on capturing and synthesizing, data for business intelligence, impact evaluation, and informed decision-making.

We base our theory of change on evidence and research that highlight the disparities faced by Latinos in entrepreneurship and the potential impact of targeted support. Studies have shown that a lack of access to financing, mentorship, and resources hinders Latino-owned businesses' growth and representation. By bridging these gaps, we have seen positive changes in the number of successful Latino-owned businesses, increased revenues, job creation, and enhanced economic prosperity within the community.

Additionally, feedback from pilot programs and interviews with our target population has demonstrated the value and impact of our initiatives.  The Posible brand has registered more than 600k aspiring entrepreneurs through its online platform, helping create more than 100k business models alongside aspiring entrepreneurs and graduated 800 from our bootcamp experiences to help launch and scale their businesses.  Participants have reported improved confidence in managing their businesses, access to new markets and opportunities, and a stronger sense of belonging within the entrepreneurial ecosystem. As these entrepreneurs flourish, they become role models and advocates for others, inspiring a ripple effect of positive change within the community.

Over the last decade, the Posible brand has registered more than 600k aspiring entrepreneurs in Latin America through it’s online platform, helping create more than 100k business models alongside aspiring entrepreneurs and graduated 800 from our bootcamp experiences.  As we scale this program across the USA, and with continued support and investment, in one year we aim to meaningfully affect 10,000 Latino Entrepreneurs, and 100,000 in the next 5 years across the USA.

The Posible program defines the community it serves as the Latinx and Hispanic community in the United States, with a specific focus on supporting aspiring and existing Latino entrepreneurs. The program aims to uplift and empower individuals from diverse backgrounds within this community, regardless of their economic status or personal context. By providing comprehensive resources, mentorship, and opportunities, Posible strives to create a more equitable and thriving entrepreneurial ecosystem for the Latinx population.

Leveraging Univision's longstanding commitment to supporting Latinos in the US, the Foundation builds upon decades of dedicated work in close collaboration with the Spanish-speaking community over multiple generations. TelevisaUnivision's local teams across the country have strong ties with community-based organizations, professional associations, consulates, and other representations, ensuring  benefits directly reach the communities they serve.

Drawing from the successful track record of Posible in Mexico and previous activities held in the USA before the pandemic, our impact goals revolve around providing a trusted bilingual, bicultural platform for Latinx entrepreneurs. Within the year 2023, our aim is to leverage our media reach to register 1,000 entrepreneurs who can benefit from and test our platform. Additionally, we seek to select an initial cohort of 50 companies that we can accelerate in their growth. To achieve these goals, we will focus on key elements such as formalizing companies, strengthening their value proposition, defining growth strategies, understanding financing options, building strong teams, identifying potential partners, and tracking traction indicators for progress.

Our impact measurement for each company will encompass a checklist of formalizing indicators, revenue and profit growth, customer satisfaction and diversification (particularly for B2B companies), employee numbers, investments, non-tangible assets (like intellectual properties), and social/environmental impact. We believe that by helping thousands of entrepreneurs structure their ideas, develop necessary skills, and access adequate guidance through our digital platform, we can create a virtuous cycle. As we identify the most promising ventures, assist them in achieving success, and share their inspiring stories on a massive scale, we aim to inspire and educate others, furthering the impact of our efforts in promoting thriving Latinx businesses.

We are thrilled to apply for the Truist Foundation Inspire Awards as it presents an incredible opportunity for the Posible Program to further its impact and expand its reach. As a nonprofit program dedicated to empowering Latinx entrepreneurs, we recognize the need for financial support to sustain and scale our initiatives effectively. The Truist Inspire Awards offer a chance to secure crucial funding that will enable us to continue offering our services and resources at no cost to the entrepreneurs we serve.

Moreover, being selected as a semi-finalist for the Truist Inspire Awards comes with invaluable added benefits. The access to a variety of capacity-building resources, including consultants, subject matter experts, and workshops, is immensely valuable for our organization. These resources will help strengthen our capabilities and enhance the quality of support we provide to our beneficiaries. The opportunity to receive insights on industry best practices is vital for optimizing our program and ensuring we remain at the forefront of supporting Latinx entrepreneurs.

We greatly appreciate the opportunity to partner with organizations that align with our mission. As we continue to grow and expand the Posible Program, we recognize the critical importance of human capital and market strategy. Adding human capital will be instrumental in delivering high-quality services and support to our entrepreneurs as we scale across the USA. 

As we scale across the country, a well-defined market strategy is vital. Support in identifying untapped markets, optimizing our marketing efforts, and effectively reach potential clients in diverse regions. This will allow us to tailor our program to address specific needs in different communities and ensure that our services remain relevant and impactful.

Through the expansion of Posible with partners like Truist, we can further solidify our position as a trusted resource for Latinx entrepreneurs, enabling us to offer even more comprehensive and targeted support.