Minority Business Development Agency Awards $1.8 Million To Tackle Opportunity Gaps

Today, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is announcing the five organizations that received grant funds to support three MBDA initiatives – Access to Capital, Research, and Sustainable BusinessModels. The call for proposals under each initiative sought solutions for constraints, disparities, and opportunity gaps that impact a minority business enterprises’ (MBEs) ability to build scale and capacity and ensure business sustainability.

“MBDA is focused on creating new opportunities for minority-owned businesses,” said MBDA National Director Henry Childs, II. “Providing greater access to financial resources, data analytics, and world-class business models will help companies grow to scale and remain competitive in the global marketplace.”

The grant recipients include:

Access to Capital:

Research:

Sustainable Business Model:

These programs are part of the 2018 MBDA Broad Agency Announcement, a new initiative this year. More than $13 million was awarded for 35 projects focused on Department of Commerce and MBDA priorities from resources that increase disaster preparedness and relief to programs that increase access to capital. For a full listing of MBDA’s 2018 grant awards, visit www.mbda.gov/news.

About the Minority Business Development Agency (MBDA)

MBDA, www.mbda.gov, is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority-owned businesses through the mobilization and advancement of public and private sector programs, policy, and research. Our services provide greater access to capital, contracts, and markets and better equip minority-owned firms to create jobs, build scale and capacity, increase revenues and expand regionally, nationally and internationally.

Contact: Velicia D. Woods, 202-482-6272, MBDAPublicAffairs@mbda.gov