FAQ

Find answers to commonly asked questions about LBAN

Is LBAN a nonprofit?

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 collaboration with the Stanford Graduate School of Business from the beginning. We deeply value this collaboration and are grateful for the strong, ongoing relationship we continue to share.

What does SLEI stand for?

LBAN collaborates with Stanford Graduate School of Business to create the Stanford Latino Entrepreneurship Initiative (SLEI) to analyze, research, and grow Latino-owned businesses and entrepreneurship across the U.S. LBAN and Stanford Graduate School of Business lead and support SLEI.

How are you funded?

We are a non-profit. We make our research on Latino entrepreneurship available to the public free of charge. For our Business Scaling program and StartUp Accelerator at Stanford Graduate School of Business, 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 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 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 info@lban.us.

When is the SOLE Summit?

Every year, we host our State of Latino Entrepreneurship (SOLE) Summit at Stanford GSB. This event is usually in March, where we 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.

Do I have to be Latino to participate in the SOLE Summit or other LBAN events?

No, we welcome people of all backgrounds to join our events and receptions across the country; our goal is to create a stronger and mutually supportive ecosystem for everyone.

General LBAN Questions

Do I have to be at Stanford for nine 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 LBAN's Business Scaling Program at Stanford cost?

The program cost is based on a tiered system according to the applicant company's revenue in the previous year:
- For entrepreneurs under $2M, the net tuition cost to the participant is only $2,750.
- For entrepreneurs between $2M-$7.9M, the net tuition cost to the participant is only $3,300.
- For entrepreneurs at $8M+, the net tuition cost to the participant is only $3,800.

How much does LBAN's Startup Accelerator at Stanford cost?

Do I need to be Latino to join the LBAN Business Scaling Program or LBAN Startup Accelerator?

No, we welcome people of all backgrounds to join our programs. At the application page, you will be asked to voluntarily report the race/ethnicity you identify with, but that information will not be used to determine your eligibility.

Which industries are the programs for?

Our programs are industry agnostic, and we encourage business owners from all industries to apply. We are proud that our cohorts represent all industries, including brick-and-mortar, services, and tech businesses 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.

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 Business Scaling cohort, we can only accept about 75 entrepreneurs from across the U.S. and Puerto Rico, and 40 for the Startup Accelerator cohort, 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 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.

(LBAN Business Scaling Program at Stanford & LBAN Startup Accelerator at Stanford)