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Press Releases


  • Submitted on 15 September 2016

    FOR IMMEDIATE RELEASE
    September 14, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

                                                                                                      

    WASHINGTON (September 14, 2016)  — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA), today announced the launch of the Agency’s new Inclusive Innovation Initiative (I-3)  in partnership with the National Institute of Standards and Technology and the Federal Laboratory Consortium for Technology Transfer.  

    I-3 is a national outreach effort aimed at increasing the participation of minority business enterprises (MBEs) and minority-serving institutions in the federal laboratory network. It’s designed to connect MBEs to valuable science, manufacturing and research resources in hundreds of federal labs across the U.S.

  • Submitted on 13 September 2016

    FOR IMMEDIATE RELEASE
    September 12, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

    WASHINGTON (September 12, 2016) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) in partnership with the U.S. Census Bureau and the Ewing Marion Kauffman Foundation recently released the first ever Annual Survey of Entrepreneurs. The survey, which highlights data from 2014, is designed to supplement the U.S. Census Bureau’s Survey of Business Owners (SBO) conducted every five years. The most recent SBO data was released in December 2015.

    The Annual Survey of Entrepreneurs provides a detailed socio-economic portrait of the nation's employer businesses broken down by gender, ethnicity, race, and veteran status. Unlike the previous SBO, the Annual Survey of Entrepreneurs provides more recent information, including the number of years a firm has been in business.

  • Submitted on 08 August 2016

    FOR IMMEDIATE RELEASE
    August 9, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

    WASHINGTON (Aug. 9, 2016) —  The National Director of the U.S. Department of Commerce Minority Business Development Agency (MBDA), Alejandra Y. Castillo received the National Urban League’s (NUL)“Women of Power Award” during the Women of Power & Business Leaders Awards Luncheon Aug. 4 at the Baltimore Convention Center.

  • Submitted on 30 June 2016

    FOR IMMEDIATE RELEASE
    July 1, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

    WASHINGTON (July 1, 2016) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is seeking proposals to support MBDA’s key initiatives through a Broad Agency Announcement (BAA).

    The BAA allows organizations to submit proposals for new programs, education, outreach, innovative projects, or sponsorships not addressed through the existing MBDA business center program.

    All proposals must align with the Agency’s key priorities centered around supporting minority businesses that include: Inclusive Innovation, Commercialization and Entrepreneurship; Business and Economic Rehabilitation in the Gulf States; Federal Contracting Transition and Sustainability; MBE Community Business Access to Capital; and Business Innovation for the Next Generation.

  • Submitted on 30 June 2016

    FOR IMMEDIATE RELEASE
    July 1, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

    WASHINGTON (July 1, 2016) — The U.S. Department of Commerce Minority Business Development Agency (MBDA) has partnered with Time Inc.’s Essence to launch the first ever “Leap, Run, Grow Entrepreneurship Village,” as part of the 2016 Essence Festival in New Orleans.

    The Entrepreneurship Village is part of Essence’s “Money+ Power” Expo and is designed to provide business access, insight, guidance and mentorship to minority entrepreneurs.

    “We’re excited to join forces with Essence,” said MBDA National Director, Alejandra Y. Castillo. “Our focus here is to help African-American women entrepreneurs grow not just in their numbers, but also in size. This means helping them gain greater access to Capital and contracts and expanding in terms of their markets.”

  • Submitted on 16 May 2016

    FOR IMMEDIATE RELEASE
    May 16, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

     

    Federal funding will support MBDA Business Centers across the Nation

    WASHINGTON (May 16, 2016) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is awarding $31.5 million in federal funding to 21 grant recipients as part of its MBDA Business Center Program (29). The program is designed to help minority-owned firms create jobs, compete in the global economy and grow their businesses. 

    "For more than 40 years, MBDA has led efforts to support minority firms and provide them with the tools and technical expertise they need to excel. This is the very foundation on which this Agency was founded back in 1969. It’s the core of who we are and what we represent,” said MBDA National Director Alejandra Y. Castillo. “This funding goes far beyond just the monetary aspect. This is a long-term investment in our community and in our nation.”

  • Submitted on 10 May 2016

    FOR IMMEDIATE RELEASE
    May 10, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

    Agency launches a grant competition to generate greater access to capital for minority-owned businesses

    WASHINGTON (May 10, 2016) —The U.S. Department of Commerce Minority Business Development Agency (MBDA) has announced a competitive solicitation for candidates interested in operating a new MBDA Capital Project. MBDA will award one cooperative agreement totaling $2.5 million over a five-year period – from fiscal year 2016 to fiscal year 2021 – to operate the project in any of the 50 states or Puerto Rico.

    The Capital Project, the first of its kind in the Agency’s history, is designed to serve as a hub for minority business enterprises (MBEs) across the country seeking financing solutions to grow and expand their businesses. It is a key component of the Agency’s overall portfolio of business development services that will result in MBE clients securing debt, equity, mezzanine financing and alternative sources of capital.

    “Access to capital remains one of the most prevalent barriers for the creation, expansion and growth of minority-owned firms,” said MBDA National Director Alejandra Y. Castillo. “The new MBDA Capital Project is an important investment that will help minority-owned firms secure financing to grow their businesses, create jobs, and continue to contribute to a stronger U.S. economy.

  • Submitted on 03 May 2016

    National AAPI Business Summit

    WASHINGTON — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and the White House Initiative on Asian Americans and Pacific Islanders (WHIAAPI) will host its first-ever National Asian American Pacific Islander (AAPI) Business Summit on Wednesday, May 25.

  • Submitted on 26 February 2016

    FOR IMMEDIATE RELEASE
    February 26, 2016
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

     

    MBDA to receive increase in funding for programs and services

    WASHINGTON (February 26, 2016) — Today the U.S. Department of Commerce, Minority Business Development Agency (MBDA), outlined President Obama’s fiscal year 2017 budget proposal in support of the growing number of minority-owned businesses in the United States. The budget would enable MBDA to continue offering valuable programs and services to minority businesses and support a coordinated approach to engage, educate, and build capacity among minority entrepreneurs.

    “These additional resources would help us serve an even greater number of minority businesses across the nation,” said Alejandra Y. Castillo, MBDA National Director. “We also would be able to reach and empower the next generation of minority business leaders through a new program targeted at young entrepreneurs.”

  • Submitted on 15 December 2015

    FOR IMMEDIATE RELEASE
    December 15, 2015
    Contact: Dijon Rolle
    Email: drolle@mbda.gov

     

     

    WASHINGTON (December 15, 2015) The U.S. Department of Commerce today released the final results of the U.S. Census Bureau’s 2012 Survey of Business Owners (SBO), which found that business ownership in our nation is mirroring our increasingly diverse population.  Minority-owned firms in the U.S. rose from 5.8 million in 2007 to 8.0 million in 2012, and employed 7.2 million people in 2012. While the number of minority-owned businesses increased by 2.2 million, the number of non-minority- owned businesses declined by 1.1 million, from 20.1 million in 2007 to 18.9 million in 2012. 

    “The Commerce Department is committed to supporting all of America’s businesses, and ensuring that small and minority-owned firms in particular have the tools they need to thrive,” said National Director for Minority Business Alejandra Y. Castillo. “The Department’s Minority Business Development Agency (MBDA) has been a proud and steadfast partner to our nation’s 8 million minority-owned businesses, to better equip these firms to create jobs and increase revenues.

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