Content tagged with News and Announcements

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...

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...

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...

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...

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)...

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...

PEARLAND, TX (June 17, 2024) – On Monday, June 17, Acting Under Secretary of Commerce for Minority Business Development, Eric Morrissette, traveled to Pearland , Texas to meet with Congressman Al Green (TX-09) and Congresswoman Lizzie Fletcher (TX-07), and talk with constituents about the local minority business enterprise (MBE) eco-system, the needs of the LGBTQ+ business community, and resources...

"This past March, a federal court in Texas decided that even though minority business enterprises “have far less access to capital and credit…due to racial discrimination in lending markets,” Congress violated the Constitution by requiring MBDA to presume that members of specified minority groups experienced discrimination or had impaired ability to compete due to fewer capital and credit...

WASHINGTON, D.C. (June 25, 2024) – The Minority Business Development Agency (MBDA) invites nominations for the 41st Annual National Minority Enterprise Development (MED) Week Awards. These awards honor the exceptional achievements of entrepreneurs, businesses and organizations dedicated to advancing business enterprises within underrepresented communities. For more than fifty years, the U.S...

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)...

DETROIT (August 1, 2024) – In early August, Acting Under Secretary of Commerce for the Minority Business Development Agency (MBDA) Eric Morrissette traveled to Detroit, Michigan to convene a panel on community investment intended to illuminate contracts and resources available to help minority business enterprises (MBEs) grow and scale. Entitled Investing in Our Communities , the Acting Under...

WASHINGTON, D.C. (August 6, 2024) – The Minority Business Development Agency (MBDA) invites nominations for the 41st Annual National Minority Enterprise Development (MED) Week Awards. These awards honor the exceptional achievements of entrepreneurs, businesses and organizations that are advancing business enterprises within underrepresented communities. For more than fifty years, the U.S...

WASHINGTON, D.C. (July 18, 2024) — Today, the Minority Business Development Agency (MBDA) hosted its second annual Access to Capital Summit at the U.S. Department of Commerce. The Access to Capital Summit: Equity in Action convened national banks, investors, trade associations and the government entities that regulate these institutions to discuss trends that affect capital formation for minority...

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...

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...