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MBDA’s Eric Morrissette Launches MBDA’s Innovation Lab to Empower Minority Business Enterprises
January 17, 2025
WASHINGTON, D.C. (January 17, 2024) — In his final act, the outgoing Head of MBDA, Eric Morrissette, unveiled the Minority Business Development Agency’s (MBDA) Innovation Lab, a transformative series of initiatives designed to harness technology and innovation in support of minority business enterprises (MBEs).The Innovation Lab aims to equip MBEs with cutting-edge tools and resources to foster business growth, drive innovation, and close opportunity gaps more effectively. By leveraging emerging... -
WASHINGTON, D.C. (January 16, 2024) — Yesterday, the Minority Business Development Agency (MBDA) and Move America Inc. signed a joint Memorandum of Understanding (MOU) at the U.S. Department of Commerce. This strategic alliance aims to ensure that minority business enterprises (MBEs) have a part in strengthening America’s industrial base and supply chain to enhance national security and economic competitiveness.“The Minority Business Development Agency is collaborating with Move America to expan...
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The Minority Business Development Agency Kicks Off 2025 With $11 Million in Technical Assistance Funding Competitions
January 15, 2025
WASHINGTON, D.C. (January 15, 2024) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) announced funding competitions, totaling an estimated $11 million in federal funding for technical assistance to support, educate and empower socially and economically disadvantaged entrepreneurs and business owners. The funding competitions are for three new MBDA technical assistance programs: the MBDA Women’s Entrepreneurship Program (WEP), the MBDA Rural Business Center Program... -
Reflections from Eric Morrissette
January 14, 2025
One year ago, on Martin Luther King Day, I stepped in to lead the Minority Business Development Agency. Today, this same holiday will mark the end of my time at MBDA and a transition of administrations. I can think of no more appropriate day for this transition than Martin Luther King Day. Dr. King’s legacy reminds us of the promise of success inherent in a more just and equitable world. And importantly, it reminds us of the headwinds we face along the journey and the devastating consequence... -
MBDA and Orthodox Jewish Chamber of Commerce Unite to Boost Economic Opportunities for MBEs
January 14, 2025
WASHINGTON, D.C. (January 14, 2024) — Yesterday, the Minority Business Development Agency (MBDA) and the Orthodox Jewish Chamber of Commerce (OJCC) signed a joint Memorandum of Understanding (MOU) at the U.S. Department of Commerce. This strategic alliance aims to ensure minority business enterprises (MBEs) in the Jewish community have access to capital, contracts, and global markets, and resources to help grow and scale their businesses. “The Minority Business Development Agency is excited to... -
Minority Business Development Agency Releases Report on FinTechs as Alternative Funding for MBEs
January 14, 2025
WASHINGTON, DC (January 14, 2024) – The Minority Business Development Agency (MBDA) released the FinTech and Alternative Financing for Minority Business Enterprises report; a joint project between MBDA and the Third Way Institute. The report analyzes one of rapidly growing alternative forms of finance and its popularity among minority business enterprises (MBEs). FinTech (Financial Technology) firms, companies that specialize in offering digital financial services to consumers or enable other f... -
U.S. Minority Business Development Agency Requests Public Comment on Information Clearinghouse
December 30, 2024
WASHINGTON, DC (December 30, 2024) – The Minority Business Development Agency (MBDA) is seeking public comments on the future content of its newly launched Information Clearinghouse, hosted at www.mbda.gov/research. Created by MBDA’s Office of Data, Research, and Evaluation (ODRE), the site serves as the agency’s mandate to create an information clearinghouse that will collect and disseminate demographic, economic, financial, managerial and technical data related to minority business enterprises... -
Minority Business Development Agency Releases Report on Closing Supply Chain Gaps with MBEs
December 20, 2024
WASHINGTON, DC (December 20, 2024) – Today, the Minority Business Development Agency (MBDA) released its Ways in Which Minority Business Enterprises (MBEs) Can Meet Gaps in the U.S. Supply Chain report. This report presents several avenues for MBEs to meet gaps in the U.S. supply chain and discusses opportunities to conduct, commission, and collaborate on new studies with other federal, state, and private institutions on this topic. This report offers a data-driven snapshot of the MBE supplier... -
U.S. Minority Business Development Agency Celebrates Capital Readiness Program Successes with NASDAQ Tower Display
November 21, 2024
NEW YORK CITY – On Thursday, November 21, 2024, the Minority Business Development Agency (MBDA) celebrated the achievements of the historic Capital Readiness Program (CRP) at the NASDAQ Tower in Times Square. Deputy Under Secretary of Commerce for Minority Business Development Eric Morrissette joined Capital Readiness Program awardees as they uplift underserved entrepreneurs across the nation. “One of the greatest obstacles facing underserved entrepreneurs is access to capital, which is why the... -
WASHINGTON, D.C. (November 19, 2024) — Today, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) and the Department of Defense (DoD) Office of the Under Secretary of Defense for Acquisition and Sustainment met to commemorate the signing of their joint Memorandum of Understanding (MOU) at the Pentagon in Arlington, Virginia, with the aim of ensuring minority business enterprises (MBE) have an equitable opportunity to participate in the defense sector. The MOU will leve...
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The Minority Business Development Agency Announces Winners of the 2024 National Minority Enterprise Development Week Awards
October 22, 2024
WASHINGTON, D.C. (October 22, 2024) —The U.S. Department of Commerce, Minority Business Development Agency (MBDA) today announced the recipients of the 2024 Minority Enterprise Development (MED) Week Awards. The National MED Week Awards are the highest level of national recognition that a U.S. minority business enterprise can receive from the Department of Commerce. These prestigious awards celebrate the outstanding achievements of minority business enterprises, as well as the individuals and or... -
NMSDC and MBDA Work Together to Define New Norms at the 2024 NMSDC Annual Conference & Exchange
October 01, 2024
ATLANTA (October 1, 2024) – As part of their continued efforts to accelerate the growth of minority business enterprises (MBEs) and advance economic equity, the Minority Business Development Agency (MBDA) and the National Minority Supplier Development Council (NMSDC) are collaborating to bring this year’s NMSDC Annual Conference & Exchange and MBDA National Minority Enterprise Development (MED) Week, to Atlanta Oct. 20- 23. The conferences will focus on defining the new norms needed to...
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