August 28, 2017
Tim Thoelecke
InOut Labs

[email protected]

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InOut Labs President Completes Goldman Sachs 10,000 Small Businesses Entrepreneurship Program

Tim Thoelecke Jr. welcomed into elite alumni group of the Goldman Sachs’ 10,000 Small Business program.

Chicago, Illinois— August 28, 2017InOut Labs , a national provider of employee drug testing services, is pleased to announce that its President and CEO, Tim Thoelecke, Jr. recently completed Goldman Sachs’ 10,000 Small Business program, an elite entrepreneurship training program created by Babson College and conducted by the business school faculty at Harold Washington College. He is among 24 entrepreneurs who graduated on August 18, 2017 as part of Chicago Cohort 18. Goldman Sachs’ 10,000 Small Businesses is a national program created to help entrepreneurs create jobs and economic opportunity by providing greater access to education, capital, and business support services. The Cohort 18 graduates spent more than 100 classroom hours and considerable time outside class, and each completed a growth plan for his or her own business.

InOut Labs President and CEO, Tim Thoelecke states, “The 10,000 Small Business program is a really focused boot camp for entrepreneurs that provided me with strategies and tactics that I was able to immediately implement in the business, and allowed me to network and learn from impressive CEOs around Chicagoland. I highly recommend this program to fellow entrepreneurs who want to take their company to the next level.”

Harold Washington College, part of the City Colleges of Chicago, has been partnering with Goldman Sachs and Babson College on the 10,000 Small Businesses program since 2010, and has helped train more than 500 business owners so far. Cohort 18 was welcomed into the program on May 10, 2017 by Goldman Sachs CEO Lloyd Blankfein and Chicago Mayor Rahm Emanuel. At that ceremony, Blankfein announced an additional $10 million commitment to the 10,000 Small Businesses (10KSB) program, which extends the Chicago program through 2020. The funding from the Goldman Sachs Foundation builds on an initial $25 million commitment.

Beginning in May 2017, for 15 weeks, these small business owners connected with peers and worked together through practical business education delivered through intense, interactive classroom sessions, and also spent 4 to 6 hours a week outside class.

Babson College, widely regarded as the top entrepreneurial education institution in the U.S., partnered with leadership from Goldman Sachs to produce the curriculum. Babson and Goldman Sachs work with community colleges around the country to deliver the program to owners of established businesses that are doing well, but want to do better.

About InOut Labs

InOut Labs empowers businesses and individuals to take control of their own health, safety and productivity by providing world-class drug testing and wellness testing services, while making the customer experience smooth and painless. Founded in 2012, InOut Labs offers more than 1000 tests, and results are always confidential.

Based in the Chicago metro area, InOut Labs serves businesses nationwide with effortless employee drug testing services.

To learn more, please contact InOut Labs at, by phone at (847) 657-7900, or email [email protected]. InOut Labs is located in Morton Grove, IL, and is a DATIA Accredited Collection Facility.

About Goldman Sachs 10,000 Small Businesses

Goldman Sachs 10,000 Small Businesses is based on the broadly held view of leading experts that greater access to a combination of education, capital and support services best addresses barriers to growth for small businesses. 10,000 Small Businesses is guided by an Advisory Council on which Babson President Kerry Healey serves, and is co-chaired by Goldman Sachs chairman and CEO Lloyd C. Blankfein, Bloomberg L.P. founder, president and CEO, and 108th Mayor of the City of New York Michael R. Bloomberg, Berkshire Hathaway chairman and CEO Warren Buffett, and the Initiative for a Competitive Inner City’s Dr. Michael Porter.  The National Urban League and the U.S. Hispanic Chamber of Commerce are also represented on the Advisory Council, among other groups.

10,000 Small Businesses offers qualified business owners:

  • Guidance in creating a customized growth plan that includes opportunity identification and feasibility analysis, financial management, leadership, negotiations, and marketing.
  • One-on-one business counseling and a network of peer support from other small business owners, as well as leaders in the business world.
  • To apply for the 10,000 Small Businesses business and management education program, please visit

About Babson College

Babson College is the educator, convener, and thought leader for Entrepreneurship of All Kinds®. The to​p​-ranked college for entrepreneurship education, Babson is a dynamic living and learning laboratory where students, faculty, and staff work together to address the real-world problems of business and society. Babson prepares the entrepreneurial leaders our world needs most: those with strong functional knowledge and the skills and vision to navigate change, accommodate ambiguity, surmount complexity, and motivate teams in a common purpose to make a difference in the world, and have an impact on organizations of all sizes and types. As they have for nearly a half-century, Babson continues to advance Entrepreneurial Thought & Action® as the most positive force on the planet for generating sustainable economic and social value.​​​​​​​​​​​​​​