Q. What is the purpose of the Minority Business Accelerator (Accelerator)?
A. The mission of the Minority Business Accelerator is to expand the minority entrepreneurial community in our region by helping to accelerate the growth and development of sizable African-American and Hispanic owned businesses.
Q. What kind of work does the Accelerator do?
A. The Accelerator does work on two fronts:
- Supply: The Accelerator provides individually-tailored advisory support and coaching to help Minority Business Enterprises (MBEs) acquire the things they need to excel: A strong business strategy, access to capital, and connections within corporate organizations.
- Demand: The Accelerator acts as an extension of a Corporate Goal Setter’s team and aims to help them meet their Diversity & Inclusion goals. To help each Goal Setter meet its purchasing needs, the Accelerator connects them with our MBE Portfolio firms.
Q. How many firms are in the Accelerator Portfolio?
A. The Accelerator portfolio currently has 35 firms. These 35 firms represent a variety of industries including construction, facilities management, packaging and consulting.
Q. How long has the Accelerator existed?
A. The Accelerator began work in 2003 and was derived from the recommendations of the Cincinnati Community Action Now Commission. The Accelerator was created to address disparity in the region’s business community with the goal to drive economic activity and increase employment in underemployed segments. Currently, firms in the portfolio employ over 3,500 workers, 50% of which are minorities and 40% are women.
Q. What are the qualifications for a firm to be invited to be part of the Accelerator portfolio?
A. Accelerator portfolio firms are sizeable, high-growth-potential, African-American and Hispanic owned minority-business enterprise companies. Qualifications for inclusion include, but are not limited to the following:
- Annual revenues of $1 million or more.
- Business plan or defined growth strategy that indicates strong potential for accelerated growth in 2-5 years.
- Certification as a minority business enterprise by a third-party agency such as the local minority business supplier development council or a government agency.
- Headquarters or a significant presence in the Cincinnati Region. (3 states, 15 counties in Southwest Ohio, Northern Kentucky and Southeast Indiana).
Have questions about the Minority Business Accelerator? Contact a member of the Accelerator staff.