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M&T Bank says its launching a new small business education program for Bridgeport-area “multicultural” companies in partnership with the University of Bridgeport.

It’s the bank’s second such course. The bank said the eight-week program will give up to 100 new businesses coaching in creating a business plan, an overview of credit fundamentals, business valuation, cash flow, branding and marketing. In addition, participants will compete for cash prizes of up to $10,000 in a Shark Tank-style pitch competition.

“This return of the Multicultural Small Business Lab to Bridgeport reflects our commitment to the growth of local businesses and a more successful and resilient local economy,” David Femi, head of bulticultural banking and diverse market strategy at M&T, said in a statement. “By expanding the breadth of this year’s program – including adding a Spanish-language cohort – we aim to have an even greater impact.”

The course is planned to kick off Sept. 13 at the UB School of Business. To qualify, a business must be making less than $250,000 annually, must qualify as a Black, Latino or Asian-American business and be less than five years old.

Virgilio Rosario, founder of Rosario Resource Group, said in a statement provided by M&T that taking part in last year’s Bridgeport Multicultural Small Business Lab was a “transformative” process.

“Being selected as part of the M&T Bank and University of Bridgeport’s 2022 cohort was a turning point in my entrepreneurial journey. The knowledge, support, and connections I gained through the program were instrumental in taking my business to the next level. I am forever grateful for this remarkable opportunity,” Rosario said.