Content tagged with Press Releases

WASHINGTON, JUNE 4, 2021 – The U.S Department of Commerce and the Minority Business Development Agency (MBDA) are pleased to announce the opening of a major grant competition in connection with its Minority Business Enterprise Equity Multiplier Project. “Systemic barriers to business capital and equity investments constitute the most significant hurdle to entrepreneurial equality,” said Edith Mc...

WASHINGTON (October 18, 2022) – The Minority Business Development Agency (MBDA) has announced $1.75 million in grants to seven minority educational institutions as part of an expanded pilot program to support entrepreneurship for undergraduate students. These grantees join a cohort of four other Minority Colleges and Universities awarded in 2021. The Minority Colleges and Universities pilot...

Additional funding from Biden Administration brings total up to $37 million to bolster services that will help minority-owned businesses expand and prosper across 34 states Today, U.S. Secretary of Commerce Gina Raimondo announced that the U.S. Department of Commerce Minority Business Development Agency (MBDA) is extending an award for $4.72 million in federal funding to strengthen and expand its...

Bill’s passage assigns an Under Secretary to oversee the Agency, mandates services to rural areas, provides authorities for a new Minority Business Development Grant program and the creation of partnerships with HBCU’s and minority-serving institutions. [Washington, DC | November 15, 2021] - Today, U.S. Secretary of Commerce Gina M. Raimondo is pleased to announce that the U.S. Department of...

Federal funding will expand MBDA Business Centers to new locations in Alabama, Louisiana, Massachusetts, Mississippi, North Carolina, New Jersey, Ohio, Oklahoma and Virginia WASHINGTON (September 9, 2021) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is awarding $13.9 million in federal funding to 35 grant recipients as part of its MBDA Business Center Program...

Federal funding will support MBDA Specialty Centers with an emphasis on advanced manufacturing, exporting, and federal contracting. WASHINGTON (August 25, 2021) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) awarded $3.7 million in federal funding to nine (9) grant recipients to establish MBDA Advanced Manufacturing Centers, Export Centers, and a Federal...

Minority Business Development Agency to present MED Week Honors in September. WASHINGTON, MAY 25, 2021 – The U.S. Department of Commerce, Minority Business Development Agency (MBDA) is currently accepting nominations for their 2021 National Minority Enterprise Development (MED) Week Awards. These prestigious honors are presented during MBDA’s National Minority Enterprise Development Week—September...

The U.S. Department of Commerce Minority Business Development Agency (MBDA) has extended awards for the Access to Capital Innovative Finance Grant to two projects that will address historical barriers faced by minority business enterprises (MBEs). Through potentially disruptive, scalable solutions, these projects will leverage non-traditional financial resources (such as non-bank lenders, minority...

The U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced the formation of the Minority Business Enterprise Advisory Council. As stated in The Minority Business Development Act of 2021, this council will advise and assist MBDA in their mission to promote the growth of minority owned businesses.

WASHINGTON, D.C. (June 3, 2024) – On Friday, May 31, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) held the first-ever meeting of the Minority Business Enterprise Advisory Council (MBEAC). The MBEAC held its inaugural meeting to provide an orientation for new committee members and an overview of future work products to fulfill the Council’s charter and statutory...

WASHINGTON, D.C. (May 13, 2024) — The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is celebrating Asian American, Native Hawaiian, and Pacific Islander (AANHPI) Heritage Month by hosting the National AANHPI Business Summit. The summit will take place on Wednesday, May 15, 2024, from 12:00 P.M. to 6:00 P.M. ET in Washington D.C. in collaboration with the National Asian...

WASHINGTON, D.C. (May 8, 2024) – MBDA hosted 43 Capital Readiness Program (CRP) awardees from across the nation for its first implementation meeting at the U.S. Department of Commerce. The two-day program convened awardee administrators and directors for an opportunity to meet Department of Commerce and MBDA staff, network within their cohort, and receive valuable program information. The CRP is a...

CHICAGO (May 3, 2024) – Eric Morrisette, Acting Under Secretary of Commerce for Minority Business Development, traveled to Chicago for the Department of Defense (DoD) Small Business Training Week 2024 (SBTW24), where he met with Mr. Farooq Mitha, Director of the DoD Office of Small Business Programs for a fireside chat at the Hilton Chicago. During the chat, the two leaders discussed MBDA’s unique...

WASHINGTON, D.C. (May 1, 2024) – Eric Morrisette, Acting Under Secretary of Commerce for Minority Business Development Agency (MBDA), joined the National Association of Hispanic Publications (NAHP) Legislative Summit 2024 at the White House, where he participated in a panel discussion with Cabinet Members and other leaders to highlight the Administration’s accomplishments for the Latino community...

WASHINGTON, DC, March 8, 2024 – Yesterday, the U.S. Department of Commerce Minority Business Development Agency (MBDA) hosted the Divine Nine Sororities, The National Council of Negro Women, The Links Incorporated, The Black Women’s Agenda, and The National Coalition of 100 Black Women at the White House. During this event, MBDA memorialized Memorandums of Understanding (MOU) with each...