Denville, NJ (Law Firm Newswire) August 25, 2020 – Paul Profeta, a successful real-estate entrepreneur spoke about his Profeta Urban Investment Foundation. Its mission is “to build a world-class, research-driven, teaching and practitioner-oriented urban entrepreneurship and economic development program to transform the economy of Newark, and other urban centers; create wealth in urban communities; and be a model for all urban universities.”
The Profeta Urban Investment Foundation was created to help launch or to expand minority businesses in Newark by providing encouragement, expertise and interest-free funds to minority-owned businesses desiring to start or expand in Newark.
Paul says, “Our mission is to assist in the revitalization and renaissance of the City of Newark by providing the necessary financial and intellectual capital for the establishment or expansion of business enterprises owned and operated by members of Newark’s minority communities.”
Paul discussed the Rutgers Business School and its Center for Urban Entrepreneurship & Economic Development (CUEED) , which funnels expertise to the startups via a team of MBA students as part of the public-private partnership.
Since the Foundation’s inception in 2008, it has helped launch fifteen minority-owned businesses in Newark. To see and read about the businesses they have supported, click here.
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