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MBDA Exploring Partnership with the Korea Trade-Investment Promotion Agency

Blogged By: 
Nick Perkins, MBDA Business Development Specialist
Created on October 23, 2015
 

For the  signing of the MOI, MBDA was represented by National Director Alejandra Y. Castillo, while KOTRA was represented by President and CEO Jaehong Kim who is visiting from South Korea as a member of the delegation accompanying the South Korean President Park Geun-hye’s visit to Washington, D.C. this week.On October 14th, MBDA signed a Memorandum of Intent (MOI) with the Korea Trade-Investment Promotion Agency (KOTRA), an agency of the Government of the Republic of Korea that aims to make the most of South Korea’s expansive free trade network by supporting partnerships and cooperation between South Korean and foreign companies.  For the  signing of the MOI, MBDA was represented by National Director Alejandra Y. Castillo, while KOTRA was represented by President and CEO Jaehong Kim who is visiting from South Korea as a member of the delegation accompanying the South Korean President Park Geun-hye’s visit to Washington, D.C. last week.

The MOI focuses on exploring partnerships between Korean diaspora owned businesses in the U.S., other U.S. minority owned businesses, and interested South Korean companies for joint ventures and other business opportunities.

Top Tips for MED Week

Blogged By: 
Verlinda Harris, MBDA Management Analyst
Created on October 18, 2015
 

2015 MED WeeK

In less than 12 hours, over 7,000 entrepreneurs, businesses, and non-profit entities will begin arriving in San Diego, CA for one of the year’s biggest networking events for minority business enterprises (MBEs). The Minority Enterprise Development (MED) Week was created by a presidential proclamation signed by President Ronald Reagan in 1983 and honors some of the country’s most innovative and emergent minority businesses around the country. This year the Minority Business Development Agency (MBDA) is excited to announce our partnership with the National Minority Supplier Diversity Council, Inc. (NMSDC) to have MED Week in conjunction with the 2015 NMSDC Conference and Business Opportunity Exchange. This conference will allow MBEs to have access to both corporate executives and federal government procurement officials and endless opportunities.

A conference of this size and magnitude can open doors and catapult an organization’s growth and scale by leaps and bounds, however it can also be overwhelming to new entrepreneurs and those unfamiliar of the intricacies of taking full advantage of this type of opportunity. To ensure that an entrepreneur is  fully aware of the benefits of MED week we have comprised the following tips:

The Future Intersection of Education and Entrepreneurship has become the Road to Success in America

Blogged By: 
Javier Santiago, MBDA Intern
Created on October 15, 2015
 

STEMThe Minority Business Development Agency applauds the stellar work that the White House Initiative on Educational Excellence for Hispanics has done during the last 25 years. We look forward to a robust partnership as we engage the growing Hispanic community in education excellence and entrepreneurial growth.

According to U.S. Census Bureau, there are roughly 54 million Hispanics/Latinos living in the United States, representing approximately 17% of the U.S. total population, making people of Hispanic origin the nation's largest minority group. Moreover, Nielsen estimated that the purchasing power  of the American Hispanic community is $1.5 trillion this year. Aside from population growth and purchasing power, the impact Latinos have made on the American economy is remarkable as the number of entrepreneurs has grown tremendously over the past twenty years. From 1992 to 2012, the number of Hispanic entrepreneurs in America more than tripled, going from 621,000 to more than 3.3 million.

Despite these great achievements, many Latino entrepreneurs still face obstacles in starting and growing their business. Many of the challenges include insufficient startup capital and barriers to contracts and procurement opportunities. Nevertheless, Latinos are no stranger to overcoming obstacles and have developed  their drive to succeed.

MBDA National Director Recognized for Leadership and Commitment to the Hispanic Business Community

Blogged By: 
MBDA
Created on October 13, 2015
 

Alejandra Y. Castillo, MBDA National DirectorEach year, Americans observe National Hispanic Heritage Month from September 15 to October 15, by celebrating the histories, cultures and contributions of American citizens whose ancestors came from Spain, Mexico, the Caribbean and Central and South America.  In the spirit of this national observance The New York Office of the State Comptroller (OSC) held its 2015 Hispanic Heritage Month Celebration yesterday and honored five people whose service, leadership, and sacrifice exemplify the reason for the commemoration.

Alejandra Y. Castillo, MBDA National Director was one of the five awardees honored at the event.  As the first Latina Director of the Minority Business Development Agency, Director Castillo was recognized for her leadership and commitment to the Hispanic business community.  Hispanic-owned firms contribute greatly to the U.S. economy and according to preliminary data from the U.S. Census Bureau there are 3.3 million Hispanic-owned businesses, up 47 percent from 2007.  These firms contribute $517 billion in U.S. economic output and employ 2.5 million workers.  Today MBDA’s commitment to helping Hispanic-owned firms reach their potential is as strong as ever.   In fiscal year 2014, MBDA facilitated 2.8 billion in contracts and financing for Hispanic-owned firms.  Those transactions supported the creation and retention of approximately 13,000 jobs.

The 2015 Minority Finance Forum

Blogged By: 
MBDA
Created on October 7, 2015
 

A collaboration of Association for Corporate Growth (ACG) in Chicago & Department of Commerce's MBDA Business Centers

A collaboration of Association for Corporate Growth (ACG) in Chicago & Department of Commerce's MBDA Business Centers

Providing access to capital and expertise to Minority Business Enterprises (MBEs) to increase revenues and value.

This is a unique opportunity for MBDA Center clients to hear how smart money and expertise of private equity and investment banking can drive higher revenues. The Forum returns to open the 16th annual Midwest ACG Capital Connection featuring 100-200 of the most active middle market investors, lenders, and investment banks, and hundreds of other advisers and deal makers from across the country.

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