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  • Submitted on 21 December 2015

    Created on December 21, 2015
     

    It’s a long-standing problem that continues to impact businesses and organizations across the nation at every level. A group of more than 100 Asian- American and Pacific Islander (AAPI) business leaders and owners gathered in Washington, DC, to seek answers and develop a plan of action to increase diversity and business opportunities within the AAPI community.  

    Members of the White House Initiative on Asian Americans and Pacific Islanders(WHIAAPI), the Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (ACE),and the U.S. Department of Commerce, Minority Business Development Agency (MBDA), partnered to host the Asian American and Pacific Islander Employee/Business Resource Group National Roundtable II. The day-long event was held at the U.S.  Department of Commerce’s Herbert Hoover Building on Dec. 8, 2015 and hosted by Albert K. Shen, MBDA National Deputy Director.

  • Submitted on 18 December 2015

    Created on December 18, 2015
     

    The U.S. Census Bureau, the Ewing Marion Kauffman Foundation, and the Minority Business Development Agency (MBDA) have teamed together to fund the first annual survey focused on the characteristics of employer businesses and their owners.

  • Submitted on 27 November 2015

    Created on November 27, 2015
     

    This month, we recognize the contributions made by Native Americans since long before our founding, and we resolve to continue the work of strengthening government-to-government ties with tribal nations and expanding possibility for all. President Barack Obama, 2015 Presidential Proclamation: National Native American Heritage Month
     
    MBDA wants to highlight the contributions of the Native American business community to the U.S. economy and the minority business community. Here are some quick facts about Native American-Owned Businesses

    • There are 274,000 Native American-owned firms in the United States.

    • Native American-owned firms contribute $42.2 billion in U.S. economic output and 221,000 jobs per year.

    • Native American-owned firms with employees average eight workers and $1.3 million in annual receipts.

  • Submitted on 05 November 2015

    Created on November 5, 2015
     

    Conference AttendeesSince the first Minority Finance Forum (MFF) a year ago, MBDA Business Centers have been building the only pipeline of its kind, mid-market minority-owned businesses looking for growth financing.  After a year of monthly calls where Business Centers discussed challenges and opportunities related to access to capital, the second annual MFF at the Chicago Association for Corporate Growth (ACG) 2015 Midwest Capital Connections was held October 19, 2015.  MFF featured panel discussions and extensive networking at the Untitled Supper Club in Chicago, Illinois, with the connection event the next day at Navy Pier presenting over 200 investment bankers, private equity, and other capital sources looking to make deals with businesses and amongst themselves.

  • Submitted on 30 October 2015

    Created on October 30, 2015
     

    Tyrone C. Taylor from Capitol Advisors on Technology, LLC, Gary Jones - Federal Lab Consortium (FLC), DC Representative,     Marlene M. Owens - Deputy (Acting) for Research and Development Partnerships, Science and Technology Directorate for the Department of Homeland Security (DHS), and     Brian Suh - Director of Technology Transfer at Space and Naval Warfare Systems Command (SPAWAR) and Regional Director of the Federal Laboratory Consortium, Albert K. Shen, MBDA National Deputy DirectorThe 2015 Minority Enterprise Development Week celebration was held in conjunction with the National Minority Supplier Diversity Council (NMSDC) Conference and Business Opportunity Exchange in San Diego, CA. In this new and innovative collaboration, the Minority Business Development Agency (MBDA) offered several Powered by MBDA sessions that provided the latest information and trends on technology innovation, federal procurement, and international trade. As part of the Powered by MBDA sessions, day four of the NMSDC Conference featured a robust lab-to-market panel discussion moderated by Tyrone C. Taylor from Capitol Advisors on Technology, LLC. The panel included:

    • Gary Jones - Federal Lab Consortium (FLC), DC Representative,
    • Marlene M. Owens - Deputy (Acting) for Research and Development Partnerships, Science and Technology Directorate for the Department of Homeland Security (DHS), and
    • Brian Suh - Director of Technology Transfer at Space and Naval Warfare Systems Command (SPAWAR) and Regional Director of the Federal Laboratory Consortium
  • Submitted on 23 October 2015

    Created on October 23, 2015
     

    At this year's Minority Enterprise Development Week celebration in San Diego, CA I had an opportunity to speak with two MED Week award recipients who were recognized for their success in the professional services industry. Ideal System Solutions Inc., was awarded as Minority Business Enterprise of the Year, and Acro Service Corporation, was awarded as Minority Professional Services Firm of the Year. Each firm represents best–in-class for service delivery and is recognized for making significant contributions through the creation of jobs, their products and services, and support of their local communities. The awards were presented by MBDA National Director Alejandra Y. Castillo and National Deputy Director Albert Shen.

  • Submitted on 23 October 2015

    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.

  • Submitted on 18 October 2015

    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:

  • Submitted on 15 October 2015

    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.

  • Submitted on 13 October 2015

    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.

 

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