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MBDA Partners with Essence Festival 2016

Blogged By: 
Alejandra Y. Castillo, MBDA National Director
Created on June 30, 2016

Igniting the Inclusive Innovation Movement

As New Orleans prepares to welcome the 22nd Annual Essence Festival, the Crescent City and the state of Louisiana anticipate another economic boon from the expected half a million attendees.  The festival, rooted in celebrating African-American music and culture, has become “a huge economic engine for the city,” Mayor Mitch Landrieu said in a 2014 interview, noting that the Essence Festival generated some $241 million in revenue.

Essence Crowd Shot

This year, the Festival promises to soar to new heights.  For the first time, the event will feature a Money + Power Expo that offers a transformative experience for attendees, inviting them to think as innovators and entrepreneurs, and to access solution-oriented content to start, sustain, or grow their business.

The Minority Business Development Agency (MBDA) is excited to have partnered with Essence to design the Entrepreneurship Village, which anchors the Money + Power Expo.  Our program sessions, titled Leap. Run .Grow. will deliver a perfect blend of inspiration and substance through three tracks of interactive workshops and panels designed with a specific goal in mind: supporting a population of emerging and established entrepreneurs whose contributions are essential to America’s economic future.

ACE Tool: New Data Aids US Business Investment Decisions

Blogged By: 
Created on June 29, 2016

Assess Costs EverywhereThe Department of Commerce's Assess Costs Everywhere tool (ACE) highlights the hidden costs and risks that manufacturers need to consider when deciding where to locate their operations or supply chains in the United States. 

Since launching ACE in April 2013, the Department's Office of the Chief Economist has periodically updated the data and research underlying its analysis of 10 costs and risks.  This week, coinciding with the third SelectUSA Investment Summit, we are announcing a new set of updates to the tool. The Summit brings together global companies, U.S. economic development agencies, and other parties working to encourage and facilitate investment in the United States—people who have done the calculus that ACE promotes and find that investing in the United States pays off.

Exploring the Landscape of American Innovation (CDS & USPTO)

Blogged By: 
Star Ying, Thomas Beach, and Scott Beliveau
Created on June 28, 2016

Throughout our country’s history, innovators have used the patent system to protect their ideas. From Samuel Hopkin's improved process in making potash, an ingredient in fertilizer in 1790, to the patents of the present day, the United States Patent and Trademark Office (USPTO) has evaluated and safeguarded innovation around the world.

The many years of data relating to innovation are all made publicly available by the USPTO through their recently launched Developer Hub. The Developer Hub provides a shareable, social platform for anyone using the data to showcase the unique ways they’re using it. This public resource makes it possible to answer fundamental questions in the technology and innovation spaces.

Among the vast set of data that the USPTO provides, the Patent Technology Monitoring Team (PTMT) produces aggregations of the underlying patent data, along multiple, different dimensions and partitions. These aggregations answer a host of questions for us, including questions related to trends in technology and innovation in any given sector.

From Basement to Pakistan: Georgia Small Business Exports Products Around the Globe with EXIM Financing

Blogged By: 
Nicole M. Woods, Export-Import Bank Public Affairs Specialist
Created on June 24, 2016

Zaheer FaruqiFounded more than 15 years ago, a fast-growing supply company seated in the suburbs of Atlanta, Ga., started selling aircraft parts to commercial airlines and military air forces. The small company of only 35 is now considered one of the best spare parts providers in the world.

Aventure Aviation, nicknamed the ‘AutoZone for airplane supplies’ by its founder and president Zaheer Faruqi, found its humble beginnings in the basement of Zaheer’s home in Peachtree City, Atlanta.

The concept of providing a "customer driven first rate" aviation parts supplier service was the goal for this business venture. The idea originated from Zaheer’s previous work experience with a local part supplier company when he started noticing that similar companies lacked customer service and were solely profit oriented.

Zaheer visualized something greater and wanted to provide a service tailored to its individual customers overseas.

On-the-Ground Connections to Business Opportunities in Latin America

Blogged By: 
Created on June 15, 2016

Register NowIt's important to form relationships on the ground in order to succeed. The Trade Winds--Latin America trade mission can connect you to key leaders, potential partners, and promising opportunities in seven growing markets.

Trade Winds will feature a Latin America business forum in Chile, along with trade mission stops in six promising Latin American markets. Join us in September to connect your business with the opportunities in this region!

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