Program Update
Santander’s Cultivate Small Business
Santander’s Cultivate Small Business program is designed to help early-stage entrepreneurs, especially women, Black, Indigenous, and People of Color (BIPOC), working to build and sustain food-related businesses in diverse neighborhoods. ICIC is one of Santander’s strategic partners in the initiative, which also includes Babson College and CommonWealth Kitchen.
2023 Impact Snapshot: Cultivate Small Business
Santander’s Cultivate Small Business provides entrepreneurs with the key ingredients for success in their businesses, including 12 weeks of industry-specific education, professional networks, and mentoring as well as capital grants. Since launching in 2017, the initiative has offered eight cohorts that have engaged more than 450 participants.
170
Number of participants
76%
Low and/or Moderate Income (LMI)
75%
BIPOC-owned/led businesses
78%
Woman-owned/led businesses
Alumni Spotlight
“Participation in the Cultivate Small Business program was the catalyst that transformed Rootastes from a promising idea into a tangible reality. The tailored education, the invaluable networking opportunities, and the unwavering mentorship we received enabled us to navigate the complexities of the food industry with confidence and clarity. Furthermore, the capital grant became the springboard that accelerated our mission of delivering healthful, gourmet lunch experiences to Greater Boston Corporate Offices. At Rootastes, we are not just providing a meal — we are offering an invitation to a healthier, sustainable lifestyle. Thanks to CSB and its partners like ICIC, CommonWealth Kitchen, and Babson College, we were equipped with the tools and resources necessary to amplify our vision. Today, as an eatREAL certified company, we stand as a testament to the transformative power of programs like CSB — empowering businesses to make a difference, one meal at a time.”
Pattanan Mint Ketthin, Founder and CEO
Rootastes
Boston, Massachusetts
therootastes.com
Santander’s Cultivate Small Business Cohort 2 (2018)
“Before the CSB Expert Session on cost of goods sold (COGS) with Al Kanbar, I was going into way too much detail in my COGS calculations, in a way that was both unwieldy and impractical. Al quickly broke down that I was deep in the weeds and needed to pull back to a more holistic approach. With his invaluable advice, I reorganized my chart of accounts and streamlined my financial reporting; now I actually generate useful data and have won back countless hours of my time to focus on building my business in other ways.”
Nima Etemadi, Co-Founder and CEO
Cake Life Bake Shop
Philadelphia, Pennsylvania
cakelifebakeshop.com
Santander’s Cultivate Small Business Cohort 6 (2022)