INITIATIVE FOR A COMPETITIVE INNER CITY INC

THE PROGRAM CONSISTS OF SEVEN INITIATIVES: INNER CITY CAPITAL CONNECTIONS, 10,000 SMALL BUSINESSES, BLACK IN BUSINESS, CULTIVATE SMALL BUSINESS, INNER CITY 100, BUILDING FOR GROWTH AND SUCCESSION READY.PROGRAM I, INITIATIVE 1. INNER CITY CAPITAL CONNECTIONSINNER CITY CAPITAL CONNECTIONS (ICCC) IS A TUITION-FREE EXECUTIVE LEADERSHIP TRAINING PROGRAM DESIGNED TO HELP SMALL AND MEDIUM SIZED BUSINESSES IN UNDER-RESOURCED COMMUNITIES BUILD CAPACITY AND RESILIENCY FOR SUSTAINABLE LONG-TERM REVENUE GROWTH, PROFITABILITY AND LOCAL JOB CREATION. ICCC PROVIDES THREE CRITICAL ELEMENTS: CAPACITY-BUILDING EDUCATION, ONE-ON-ONE COACHING AND CONNECTIONS TO CAPITAL AND CAPITAL PROVIDERS.OVER THE PAST 18 YEARS, THE PROGRAM HAS SERVED MORE THAN 6,600 BUSINESSES, THAT HAVE AVERAGED 153% REVENUE GROWTH, CREATED 28,000 JOBS, AND RAISED OVER $2.5 BILLION IN CAPITAL.PROGRAM I, INITIATIVE 2. 10,000 SMALL BUSINESSESICIC PARTNERS WITH GOLDMAN SACHS TO IDENTIFY HIGH-POTENTIAL ENTREPRENEURS FOR 10,000 SMALL BUSINESSES. THIS INITIATIVE HELPS SMALL BUSINESS OWNERS CREATE JOBS AND ECONOMIC OPPORTUNITY BY PROVIDING THEM WITH GREATER ACCESS TO BUSINESS EDUCATION, FINANCIAL CAPITAL AND BUSINESS SUPPORT SERVICES.TO DATE, THE PROGRAM HAS SERVED OVER 14,500 SMALL BUSINESSES FROM ALL 50 STATES, DC AND PUERTO RICO. GRADUATES OF THE PROGRAM HAVE SEEN INCREASED REVENUE AND 85% ARE ACTIVE IN ALUMNI GROUPS AS MENTORS OR DOING BUSINESS WITH OTHER ALUMNI.PROGRAM I, INITIATIVE 3. BLACK IN BUSINESSIN 2022, ICIC EXPANDED ITS PARTNERSHIP WITH GOLDMAN SACHS TO BETTER SERVE BLACK WOMEN SOLE PROPRIETORS WITH THE CREATION OF THE ONE MILLION BLACK WOMEN: BLACK IN BUSINESS PROGRAM. IN RESPONSE TO THE INCREASING NUMBER OF BLACK WOMEN SOLE PROPRIETORS AND THE OBSTACLES THEY FACE, THIS PROGRAM TEACHES PARTICIPANTS HOW TO PRICE THEIR PRODUCTS OR SERVICES, HIRE EMPLOYEES AND UNDERSTAND FINANCES THROUGH A TWELVE WEEK IN PERSON AND VIRTUAL CURRICULUM. THE PROGRAM WAS MET WITH IMMENSE ENTHUSIASM AND HAS SERVED 750 PARTICIPANTS SINCE ITS MAY 2022 LAUNCH. PROGRAM I, INITIATIVE 4. CULTIVATE SMALL BUSINESSCULTIVATE SMALL BUSINESS IS DESIGNED TO HELP EARLY-STAGE ENTREPRENEURS, ESPECIALLY BLACK, INDIGENOUS AND PEOPLE OF COLOR (BIPOC), WORKING TO BUILD AND SUSTAIN FOOD RELATED BUSINESSES IN DIVERSE NEIGHBORHOODS. THE PROGRAM PROVIDES INDUSTRY SPECIFIC EDUCATION, PROFESSIONAL NETWORKS AND MENTORING AS WELL AS SMALL CAPITAL GRANTS FOR BUSINESS OWNERS. THE PROGRAM HAS SUPPORTED OVER 500 FOOD ENTREPRENEURS SINCE ITS INCEPTION. PROGRAM I, INITIATIVE 5. INNER CITY 100THE INNER CITY 100 (IC100) IS AN ANNUAL AWARD THAT RECOGNIZES THE FASTEST-GROWING COMPANIES IN UNDER-RESOURCED COMMUNITIES ACROSS THE NATION. AWARD BENEFITS INCLUDE NATIONAL AND LOCAL MEDIA COVERAGE, EXCLUSIVE NETWORKING OPPORTUNITIES, AND THE OPPORTUNITY TO BE MATCHED WITH AN EXPERT, LONG-TERM BUSINESS MENTOR. THE IC100 LIST IS ANNOUNCED EACH YEAR AT THE ICIC ANNUAL CONFERENCE. THE 2023 IC100 WINNERS REPRESENTED 23 INDUSTRIES AND 54 CITIES AND EXPERIENCED AN AVERAGE 4-YEAR REVENUE GROWTH OF OVER 450%.PROGRAM I, INITIATIVE 6, BUILDING FOR GROWTHICIC'S BUILDING FOR GROWTH (BFG) IS A NATIONAL, ONLINE, TUITION-FREE EXECUTIVE EDUCATION PROGRAM THAT HELPS PRIMARILY BIPOC-, WOMAN-, AND VETERAN-OWNED CONSTRUCTION CONTRACTORS BUILD CAPACITY AND DEVELOP SUSTAINABLE GROWTH STRATEGIES THAT POSITION THEIR BUSINESSES TO INCREASE PROFITS. BFG COMBINES 18 ONLINE WEEKLY CLASSES, DEDICATED TECHNICAL ASSISTANCE, AND LONG-TERM MENTORSHIP TO SUCCESSFULLY SCALE CONSTRUCTION BUSINESSES. THE PROGRAM WAS LAUNCHED IN 2022 AND SINCE THEN HAS HELPED 166 COMPANIES ACROSS 29 STATES, OF WHICH 85% WERE BIPOC-OWNED, 62% WERE WOMAN-OWNED, AND 11% WERE VETERAN-OWNED.