According to a report on WhiteHouse.gov, one of the first companies to reap the benefits of this fund is ABS Materials. The company has produced an absorbent material dubbed "Osorb," which soaks up organic contaminants like a sponge to help clean up oil spills and polluted waterways. The company has begun generating revenue from their idea in just two short years, providing economic stimulus and jobs to this Ohio community along the way.
- Rio Salado College, Phoenix, Arizona
- Long Beach Community College, Long Beach, California
- North Iowa Area Community College, Mason City, Iowa
- Mott Community College, Flint, Michigan
- Southeast Community College, Lincoln, Nebraska
- White Mountains Community College, Berlin, New Hampshire
- Burlington County Community College, Burlington, New Jersey
- Santa Fe Community College, Santa Fe, New Mexico
- Lorain County Community College, Elyria, Ohio
- Northeast Wisconsin Technical College, Green Bay, Wisconsin
As participants in this program, each community college will serve as a virtual business incubator, providing the training business start-ups need to get their company off the ground. The hope is that eventually hundreds of community colleges will participate in such a venture to offer more job opportunities and a higher quality of training to the communities they serve.
Walter G. Bumphus, President and CEO of the AACC, said in the press report, "Small businesses play an enormous role in stimulating and sustaining economic growth both in local communities and nationally. This new initiative presents an exciting and innovative way to encourage small business growth without costly investment in new facilities and added infrastructure." The AACC is currently in collaboration with the National Association for Community College Entrepreneurship and Small Business Development Centers to provide incubators on community college campuses around the country.