Page 38

business development

Inner City Capital Connections

Accepting Applications for the 2017 Program By American DBE Staff

The Inner City Capital Connections (ICCC) Program has helped urban small businesses grow, expand capacity and gain access to financing since 2005.

T

he Inner City Capital Connections (ICCC) Program has helped urban small businesses grow, expand capacity and gain access to financing since 2005. Each year, ICCC hosts executive education and training sessions in major cities across the country with the goal of “promoting economic prosperity in underserved communities” through job creation and economic development. ICCC accomplishes its goal by connecting entrepreneurs with top-notch educators and potential capital providers to build networks and create dialogue about business growth and development. “Since 2005, alumni of the Inner City Capital Connections (ICCC) program have had an average of 184% growth in revenue, created more than 12,000 jobs and raised $1.4 billion in capital,” ICCC said in its 2016 annual report. “By ensuring its alumni succeed, ICCC promotes sustainable business growth in underserved communities across the country.” ICCC leaders believe that by growing inner city entrepreneurs, the organization can greatly impact success within the urban core of America. ICCC research has shown that the addition of just one new job per small business could potentially eliminate urban unemployment.

Top: Professor Michael Porter speaks to the 2016 ICCC Boston participants in Boston, Mass. (Source: ICCC) Bottom: Jack Mitchell, Chairman of the Mitchell Stores and author of Hug Your Customers speaks at the 2015 ICCC Conference in New York, N.Y. (Source ICCC)

38

// Spring 2017

ICCC is a program created by the Initiative for a Competitive Inner City (ICIC), a non-profit research and strategy organization, and the leading authority on U.S. inner city economies and the businesses that thrive there. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC expands inner city economies by providing businesses, governments and investors with the most comprehensive and actionable information in the field about urban market opportunities. ICIC’s unique knowledge and expertise about inner city success factors and thriving companies is developed from specialized urban networks and path-breaking research.

American DBE Magazine - Spring 2017  

American DBE Magazine is a quarterly digital and print publication dedicated to increasing business diversity and inclusion in the transport...

American DBE Magazine - Spring 2017  

American DBE Magazine is a quarterly digital and print publication dedicated to increasing business diversity and inclusion in the transport...