ECMC Group Launches Second Annual Bold Path Fellowship to Provide Entrepreneurial Onramps for Under-Resourced Birmingham Graduates

BIRMINGHAM—Entrepreneurship is generally recognized as one of the best paths to wealth creation; however, many under-resourced individuals don’t have the time and capital needed to transform their idea into reality. ECMC Group and its affiliates today launched the second annual Bold Path Fellowship to provide recent graduates with the resources they need to achieve their career goals.

The Bold Path Fellowship is funded by the ECMC Group Education Impact Fund and ECMC Foundation.

“Birmingham has an amazing up-and-coming entrepreneurial ecosystem that we want to continue to support and nourish,” said Joe Watt, managing director for the Education Impact Fund. “Seeing the initial success and enthusiasm of our first Bold Path Fellowship cohort is a testament to both the benefit of this program and the need to keep it going to ensure founders have the resources they need for early-stage business development.”

Bold Path Fellows receive $120,000 in non-dilutive grant funding over two years and access to mentors from the local community to receive guidance and advice as they navigate the challenges of entrepreneurship. The funds are intended to substitute for early “family and friends” funding, which is often lacking for low-income founders and is critical to get their businesses off the ground.

“This program is unique, given its local approach and the potential for economic growth in the community as the businesses must be located in the greater Birmingham area,” said Jessica Haselton, managing director at ECMC Foundation.

To anchor its place-based program strategy, local economic development nonprofit Prosper is serving as a key strategic partner for the Fellowship and helping to bridge relationships with local postsecondary institutions, supporting organizations and community members in the area.

“Prosper is excited to help build yet another dynamic cohort of Bold Path Fellowship entrepreneurs poised to transform Birmingham’s business ecosystem,” said J.W. Carpenter, president of Prosper. “The successes of the first cohort and the power of Prosper’s national partnership with ECMC Group is the ideal strategy for growth. We look forward to welcoming more Fellows who will benefit from this cutting-edge opportunity originally launched in Birmingham.”

To be considered, individuals must have completed a degree or credential (four-year college, community college or vocational program) within the last five years. Spring 2026 graduates are also eligible. Applicants must be residents of the greater Birmingham area and launch their venture in Birmingham.

To learn more, visit www.boldpathfellowship.org.

Program Timeline
Applications open: October 22-December 5, 2025
Fellow selection: Early spring 2026
Community event: Early spring 2026
Program start: Early summer 2026

About ECMC Group
ECMC Group is a nonprofit corporation focused on helping students succeed by creating, providing and investing in innovative educational opportunities. Headquartered in Minneapolis, ECMC Group and its family of companies provide financial tools and services, as well as funding for innovative programs to help students achieve their academic and professional goals. To learn more, visit www.ecmcgroup.org.

Education Impact Fund
The Education Impact Fund is a $250 million fund that aims to accelerate the transformation of America’s postsecondary and workforce ecosystem by investing in innovative companies and collaborating with institutions, employers and communities toward a shared vision of improving education access and outcomes for underserved learners. To learn more, visit www.educationimpactfund.org.

About ECMC Foundation
ECMC Foundation is a national foundation whose North Star goal is to eliminate gaps in postsecondary completion by 2040. The Foundation’s mission is to improve higher education for career success among underserved populations through evidence-based innovation. ECMC Foundation makes strategic grants and program-related investments to support both nonprofit and for-profit ventures, guided by a strategic framework that aims to advance systemic change by removing barriers to postsecondary completion; building the capacity of organizations, institutions and systems; and transforming the postsecondary ecosystem. Learn more about ECMC Foundation by visiting www.ecmcfoundation.org.