reSET Social Enterprise Trust, the Hartford-based nonprofit dedicated to advancing the social enterprise sector, announces that it is acquiring Collab, Inc., the New Haven-based organization supporting underrepresented entrepreneurs through heart-centered business services.

This strategic union creates a comprehensive and intentional approach to fostering entrepreneurship across Connecticut, centered in two entrepreneurial hubs of the state –Hartford and New Haven. With a combined 26 years working closely with thousands of entrepreneurs, the two organizations are highly regarded catalysts in Connecticut’s entrepreneurial ecosystem and are thrilled to join together to continue expanding their impact.

"We have been longtime ecosystem partners in this mission-driven work, and I am thrilled to have the opportunity to expand our reach through this integration,” said Sarah Bodley, Executive Director of reSET. “Joining forces with Collab strengthens our ability to serve more entrepreneurs with impact and achieve our mission through integrated resources, expertise, and networks."

“When we co-founded Collab in New Haven back in 2017, reSET was a true thought partner and friend for us doing similar work in Hartford — with an aligned vision of building pathways to entrepreneurship and opportunity for every neighbor in Connecticut. I am thrilled about this exciting next chapter, and eager to see the combined organization expand and deepen the support for entrepreneurs across the state,” said Caroline Tanbee Smith, Collab co-founder and City of New Haven Alder.

Expanding Impact, Extending Strengths

The integration of Collab into reSET brings together two organizations with similar approaches and shared values. Both have been dedicated to serving local, underrepresented entrepreneurs in a human-centered, holistic approach, and aim to assist entrepreneurs to not only be successful, but also to make positive changes in their communities and beyond.

Through the acquisition, effective this month, both organizations will continue serving entrepreneurs in Greater New Haven, Collab’s geographic focus area, and the Greater Hartford area, reSET’s geographic focus. The acquisition will result in expanded reach to serve entrepreneurs statewide and will continue to center equity and inclusion of traditionally underrepresented demographics in entrepreneurial spaces. The combined reSET and Collab teams look forward to tapping each organization’s knowledge base to offer joint accelerators and mentorship initiatives, and broader access to networks, funding sources, and educational resources for entrepreneurs served. 

Since the launch of entrepreneurial programming at reSET in 2013 and the launch of Collab in 2017, more than 630 entrepreneurs have participated in the wide array of intensive, multi-week pre-incubator, incubator, and accelerator programs that have been developed and offered. Entrepreneur graduates have subsequently launched businesses in a broad range of industries and tapped into the expertise of mentors and advisors in Connecticut in various aspects of business operations.

Driving Innovation, Entrepreneurship, and Opportunity

"By combining our strengths, we're creating a powerhouse of support for underrepresented and emerging entrepreneurs across Connecticut,” said Ginny Koslowski, CEO of EDC New Haven and Collab board member. “Our shared vision will drive innovation and positive change in our communities and will be a driving force in Connecticut’s efforts to enhance opportunities for new and expanding businesses across the state." 

The Boards of Directors of both reSET and Collab have been instrumental in guiding this merger process. Ali Lazowski, Chair of reSET's Board, explains, "Our boards have worked tirelessly to ensure this integration aligns with our missions and values. We're excited about the potential for greater impact for our communities with a more streamlined approach. There’s no doubt that as energizing as the past decade has been for both organizations, the need to enhance a statewide pipeline for local entrepreneurial support and their communities remains essential to Connecticut’s long-term growth and success.” 

“Small businesses are the heart of our state – fueling economic development and creating employment opportunities in their communities. reSET Social Enterprise Trust and Collab, Inc. have been impactful partners in empowering and encouraging our state’s entrepreneurs to reach their maximum potential. And now, through this strategic partnership, their reach and ability to assist entrepreneurs from all across our state will only grow,” said Lieutenant Governor Susan Bysiewicz. 

“Small businesses are the backbone of our economy, and their success requires strong support. I am thrilled that this new partnership will provide robust resources for underrepresented entrepreneurs in Connecticut, and I will keep fighting for strong federal funds to help our state’s small businesses thrive,” said U.S. Senator Richard Blumenthal.

Since its founding in 2007, reSET program graduates report generating over $30 million in revenue, raising nearly $19 million in funding and employing over 432 people. Collab, launched in 2017, reports that its alumni have generated over $8 million in revenue, raised over $3 million in funding, and have employed over 289 people as staff, part-time, and consultants. Across both organizations, thousands more entrepreneurs and business supporters have benefitted from new jobs, networking, coworking, workshops and events.

Long-Term Vision Advancing Connecticut’s Future

“Since the launch of the Small Business Growth Grant program from the Department of Economic and Community Development (DECD) in 2022, reSET’s work in close collaboration with their Hartford area partners has delivered workshop, programs, market opportunities and grant assistance to over 1,680 businesses," said Sheila Hummel, Director of Small Business at DECD. "We are thrilled to support the additional reach and expertise this union brings to further strengthen the support network for small businesses in Connecticut."

reSET initiatives have included Impact Accelerators, Food Incubators, Community Pitch Nights, and a Retail Business Plan Incubator. Individuals from Greater Hartford and across Connecticut have turned to reSET to help provide the expertise necessary to successfully launch their businesses. In New Haven, Collab’s Accelerator, Food Business Accelerator, and Groundwork programs are among the many offerings that have similarly assisted start-up businesses to develop the expertise needed to launch and grow. Both organizations have been integral in developing emerging food businesses and food system work and look forward to continuing that focus statewide.

To ensure continued, deep engagement in Collab’s hometown, the combined organizations have formed a new advisory board consisting of members with longtime connections to and love for New Haven. This board will play a crucial role in decision-making, maintaining and strengthening ties with the Elm City, and guiding new strategies to best serve the region's entrepreneurs.

A celebratory launch event is being planned for April 3 in the New Haven area to introduce the combined organization and leadership team, with the initial spring program schedule to be announced shortly thereafter.

About reSET

Founded in 2007, reSET is a nonprofit organization in Hartford, CT, whose mission is advancing the social enterprise sector. reSET specializes in social enterprise ― impact-driven business with a double or triple bottom line. In addition to providing coworking space, accelerator, and mentoring programs, reSET aims to inspire innovation and community collaboration and to support entrepreneurs in creating market-based solutions to community challenges. reSET’s goal is to meet entrepreneurs wherever they are in their trajectory and to help them take their businesses to the next level. Visit reSET | Where Great Companies Grow (resetco.org).

About Collab

Collab is an organization that aims to provide entrepreneurs with impactful, rigorous business support using a compassionate, fundamentally heart-centered approach so that they can build good businesses, create economic power, and shape their communities for themselves and their families. Collab prioritizes serving people of color and women — particularly Black and Latinx entrepreneurs — who face persistent and significant barriers because of structural racism and sexism, providing entrepreneurship programming that combines high-quality business education with a heart-based leadership development curriculum.