MBDA’s 2023 Year in Review
A message from Under Secretary Donald R. Cravins Jr.:
The year 2023 marked a historic year for the Minority Business Development Agency (MBDA). It was a year of accomplishments guided by the vision of the Minority Business Development Act of 2021, which elevated the Minority Business Development Agency as a leader in the Federal Government and affirmed equity in business as a national priority. This year, MBDA turned that vision into a reality by strengthening our core, expanding our reach, and elevating our voice. In 2023, we grew our staff to address gaps, expanded our National Network from 88 to 131 Business Centers and programs, increased our reach in rural communities, and launched the Capital Readiness Program, the largest technical assistance program of its kind in Commerce Department history.
MBDA Celebrates 40 Years of Minority Enterprise Development Week
This year’s conference hosted thousands of attendees and facilitated connections that help expand access to capital, contracts, networks, and opportunities. MBDA, in collaboration with the National Minority Supplier Development Council, was honored to host this milestone celebration of the minority business community. Congratulations again to the 2023 National MED Week Award Winners – your successes are a testament to your talent perseverance, and dedication!
MBDA Helps Bridge Gaps and Create Opportunities
Discover how our initiatives empower minority entrepreneurs and drive economic growth.
Promote Women Entrepreneurs
The MBDA Business Center for Enterprising Women of Color champions women entrepreneurs as pivotal catalysts for economic growth and strives to empower women to fully realize their economic potential.
Support for Going Global
MBDA Export Centers provide industry-focused services that help generate increased financing, contract opportunities, and greater access to new and global markets.
Encourage American Manufacturing
The MBDA Advanced Manufacturing Centers assist minority manufacturers in boosting domestic and global sales of "Made in America" products through new technology adoption.
Capital Readiness Program
Backed by $125 million in funding, the MBDA Capital Readiness Program is committed to eradicating disparities in entrepreneurial opportunities, ushering in a transformative era of business growth for underserved and minority entrepreneurs.
MBDA Business Centers are Here to Help
Connect with our MBDA Business Centers to fuel growth and expand your business, whether in domestic or global markets, and achieve greater size and scale.
Secure Capital
Compete for a Contract
Identify Strategic Partners
Become Export-ready
MBDA has helped minority businesses in aggregate achieve success.
In FY22, MBDA facilitated access to $1.2 billion in capital, empowering minority-owned businesses.
FY22 saw MBDA's diligent efforts culminate in over $1.6 billion in contract awards to minority-owned businesses.
Throughout FY22, MBDA played a pivotal role in empowering minority-owned businesses to generate or safeguard over 15,000 jobs.
Success Story: Royal Men Solution
Founded in August 2020, Royal Men Solutions has secured over $140,000 in contracts since partnering with the MBDA Entrepreneurship Education for Formerly Incarcerated Persons Center in Los Angeles.
Success Story: OurPlace Residential Services
Supported by the Minneapolis MBDA Business Center, four Minneapolis nurses, driven by their experiences, founded OurPlace Residential Services to provide vital post-care support.
Success Story: NEZ/FCI Native American, LLC
NEZ/FCI Native American, LLC and Dekker/Perich/Sabatini (DPS) jointly secured a $61 million federal contract to design and construct the Lukachukai Community School located on the Navajo reservation. NEZ/FCI worked closely with the MBDA American Indian, Alaska Native, Native Hawaiian Center in New Mexico to attain business registrations and certifications required to conduct business in Arizona and New Mexico.