Our team supported the creation of 5,787 new jobs by assisting minority-owned businesses in obtaining nearly $4 billion in contracts and capital—a $6 million increase over last year’s record level. MBDA’s return on taxpayer investment (ROI) reached the highest level in the 43-year history of the Agency. In Fiscal Year 2011, ROI stood at 130x, up from 125x in FY2010 and 70x at the beginning of the Obama Administration. Download 2011 Annual Performance Report
Jobs and Innovation Accelerator Challenge
In May 2011, President Obama launched the Jobs and Innovation Accelerator Challenge to promote innovation and job growth, and to advance our global competitiveness. The competition offered a total of $33 million in funding from three Federal agencies, plus technical assistance from 13 additional agencies to promote the development of at least 20 industry clusters across the country. MBDA contributed technical development expertise to this effort. In addition to providing technical support for this initiative, three MBDA Business Center operators and their affiliates were successful in obtaining $5.4 million in grants under this program.
Newly Redesigned MBDA Business Center Program
MBDA successfully launched a newly redesigned MBDA Business Center program. The new nationally focused program combined the traditional Minority Business Enterprise Center (MBEC) and Minority Business Opportunity Center (MBOC) programs into one program. Significant changes to the program include an increase in funding and the elimination of geographic borders, allowing business centers to provide services to minority-owned businesses anywhere in the Nation. Additional changes include longer funding terms, reduced paperwork burdens, the addition of merger, acquisition, joint venture and strategic partnering support, and enhanced export services. MBDA established new business centers in Boston, Cleveland, Denver, Minneapolis, Anchorage, Riverside (California), and a specialty Federal Procurement Center in Washington, DC. Each new center hosted a kick-off event attended by the leadership of MBDA, business center leaders, state and local government officials, community stakeholders, and minority business owners.
New Visual Identity
As part of the Agency’s comprehensive strategy to expand its reach, MBDA initiated the first formal effort to create a globally recognized brand in its 43-year history. The intention is to appeal to large corporations with global supply chains, institutional investors, international partners, and minority-owned firms. The cornerstone of the new visual identity, a new Agency emblem and tag line, were developed. The design elements of the new emblem emphasize the first initial of the Agency by creating a stylized “M” resembling a bar-graph with an upward trajectory symbolizing minority-owned business growth. The multi-color image also forms an “M” in the white space between the color bars. Complementing the new design, MBDA also selected a tag line that serves as a call to action: Grow Your Business. Build the Nation.
National Minority Development Week Conference
The National Minority Development Week Conference featured expanded export opportunities with workshops on conducting business in Africa, the Middle East, South Asia, Latin America, and Europe. The Embassy of India hosted a business-to-business networking event to share opportunities for doing business in India. Equally beneficial were workshops on increasing access to capital, business growth through mergers and acquisitions, and leveraging social media. Members of President Obama’s Cabinet, including Dr. Rebecca Blank, Deputy Secretary of Commerce, and Kathleen Sebelius, Secretary of Health and Human Services, were on hand to participate. Additionally, Gene Sperling, Director of President Obama’s National Economic Council, addressed conference attendees. View Highlights
Hannover Messe International Trade Fair
National Director David A. Hinson and global industry leaders traveled to Hannover, Germany for the Hannover Messe International Trade Fair, which is the largest international conference of its kind. Director Hinson was a featured speaker at the U.S. Global & Markets Pavilion, where he spoke to international representatives from a variety of industries about the capabilities of America’s minority-owned firms and met with the U.S. Ambassador to Germany. He also traveled to meet with the U.S. Ambassadors to Belgium, the European Union, and France to discuss the benefits to the United States of creating strategic partnerships between minority-owned firms and immigrant populations within these countries. View Photo Gallery
Global Merger & Acquisition Symposium
MBDA was prominently featured at the Global Merger & Acquisition Symposium, hosted by the Alliance of Merger & Acquisition Advisors. National Director Hinson traveled to London to discuss mergers and acquisitions as a global growth strategy for medium-sized businesses and explained to audiences how minority-owned businesses offer international investors the prospect of above average returns and a powerful entry strategy into the U.S. market and other markets that have large populations in the United States.