Accelerating minority businesses
The Minority Business Accelerator (MBA) was established in 2003 as the result of the recommendations of the Cincinnati Community Action Now Commission. The program is focused on reducing disparity in the region's business community by driving economic activity for African-American and Hispanic-owned companies and increasing employment in underemployed segments of the region.
The MBA's mission is to help accelerate the development of sizable minority business enterprises (MBEs) and to strengthen and expand the regional minority entrepreneurial community.
To foster a regional business environment that supports the growth of minority-owned businesses, the MBA is focused on encouraging mutually beneficial business relationships between MBEs (the supply side), the corporate community (demand side) and the private sector.
Supply Side (MBEs)
- The MBA actively seeks new business opportunities for MBEs with major corporate customers, including acquisitions, joint ventures, strategic alliances, and enhanced capitalizations.
- A number of business development services and educational opportunities are available to help MBEs plan for the growth of their companies.
- Ongoing MBA-sponsored networking events introduce MBEs to the corporate community.
The Demand Side (Corporate leaders)
- To help develop a more robust corporate procurement environment, the MBA meets with corporate leaders to create awareness of the value that MBEs offer as suppliers, customers and investment opportunities.
- In 2004, the MBA initiated a regional corporate MBE spend-goal strategy to reinforce the positive outcomes that their collective procurement dollars can produce. By helping drive the growth of minority businesses, corporate leaders can make a significant impact in Cincinnati USA by increased employment in minority communities, improved economic conditions of neighborhoods and increased purchasing power.
- Currently, there are 40 local corporations and nonprofit organizations that commit to an annual spend goal.
- In 2013, Goal Setter firms grew their spend with local minority firms in the portfolio to $1.04 billion - a major milestone for minority accelerators across the U.S.
- 37 firms are currently in the MBA portfolio.
MBA Corporate Goal Setters | MBA Portfolio Companies
The L. Ross Love GrowthBridge Fund
The L. Ross Love GrowthBridge Fund is an investment initiative of the Cincinnati USA Regional Chamber’s Minority Business Accelerator (MBA), and provides direct lending to African-American and Hispanic-owned companies that have a track record of success. For more information about the Fund, visit the website. Access the L. Ross Love GrowthBridge Fund Website
2013 Annual Report
2012 Annual Report
So what is the MBA? Take a look at this video
MBA Portfolio Companies Book