Articles from Minority Business Development Agency (MBDA)

WASHINGTON, DC, Jan. 17, 2025 (GLOBE NEWSWIRE) -- 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). 

WASHINGTON, DC, Jan. 16, 2025 (GLOBE NEWSWIRE) -- 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. 

WASHINGTON, DC, Jan. 15, 2025 (GLOBE NEWSWIRE) -- Today, 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. 

WASHINGTON, DC, Jan. 15, 2025 (GLOBE NEWSWIRE) -- On Monday, January 13, 2025, 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. 

WASHINGTON, DC, Jan. 15, 2025 (GLOBE NEWSWIRE) -- 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).  

WASHINGTON, DC, Dec. 30, 2024 (GLOBE NEWSWIRE) -- 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 (MBEs). The Information Clearinghouse consists of the MBDA Research Library and the Data Warehouse. MBDA’s Research Library, available at library.mbda.gov organizes and collects research, studies, and reports pertaining to MBEs. MBDA’s Data Warehouse gathers and publishes data from MBDA and other federal sources. Together, these collections of information will increase understanding of emerging trends, identify opportunities for innovation, and help MBEs adapt to changing market conditions.  

WASHINGTON, D.C., Dec. 20, 2024 (GLOBE NEWSWIRE) -- 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.

NEW YORK CITY, Dec. 13, 2024 (GLOBE NEWSWIRE) -- 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.

WASHINGTON, D.C., Nov. 20, 2024 (GLOBE NEWSWIRE) -- 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.

ATLANTA, Oct. 22, 2024 (GLOBE NEWSWIRE) -- 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 organizations that have demonstrated their commitment to advancing minority business enterprises.

The U.S. Minority Business Development Agency Celebrates Businesses, Organizations, and Advocates with 41st Annual National MED Week Awards

The National Minority Enterprise Development Week (MED Week) Opens Nominations for Business Trailblazers

MIAMI, June 07, 2024 (GLOBE NEWSWIRE) -- On Wednesday, Acting Under Secretary of Commerce for Minority Business Development Eric Morrissette convened a panel in Miami, Florida for minority business enterprises, as an addition to the Minority Business Development Agency’s (MBDA) National Training Conference (NTC).

WASHINGTON, D.C., June 03, 2024 (GLOBE NEWSWIRE) -- 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 mandates. Among the various council members and attendees, U.S. Deputy Secretary of Commerce Don Graves spoke in recognition of the Council’s first engagement.

SEATTLE, May 22, 2024 (GLOBE NEWSWIRE) -- On Thursday, May 16th, Acting Under Secretary of Commerce for Minority Business Development Eric Morrissette traveled to Seattle to sign a Memorandum of Understanding (MOU) between the Minority Business Development Agency (MBDA) and the Port of Seattle. 

WASHINGTON, D.C., May 13, 2024 (GLOBE NEWSWIRE) -- 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/Pacific Islander American Chamber of Commerce & Entrepreneurship (National ACE).

WASHINGTON, D.C., May 10, 2024 (GLOBE NEWSWIRE) -- 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. 

Wednesday, May 15, 2024 from 12:00 P.M. to 6:00 P.M. EDT

Washington, DC, March 09, 2024 (GLOBE NEWSWIRE) -- 55 years ago, President Richard Nixon established the Minority Business Development Agency (MBDA). Now authorized by a bipartisan coalition in Congress and codified by President Biden, the MBDA has been committed to providing the programs, services, and initiatives needed for businesses to achieve economic success and prosperity.  This week, a federal court in Texas said that while 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 an impaired ability to compete due to fewer capital and credit opportunities. When we expand economic access for socially and economically disadvantaged individuals and their businesses, we create more jobs, generate more revenue, and uplift communities. This benefits everyone, and no one understands that more than President Biden and Vice President Harris. 

WASHINGTON, D.C., March 08, 2024 (GLOBE NEWSWIRE) -- 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 organization to collaborate on advancing the growth of women business enterprises. 

WASHINGTON, D.C., Oct. 11, 2023 (GLOBE NEWSWIRE) -- Today, the U.S. Department of Commerce’s Minority Business Development Agency (MBDA) officially announced Wendy D. Anderson as its permanent Chief of Staff.

WASHINGTON, D.C., Oct. 05, 2023 (GLOBE NEWSWIRE) -- WASHINGTON, DC – Today, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) proudly announces recipients of the 2023 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 entrepreneurs, as well as the individuals and organizations that have demonstrated their commitment to advancing minority business enterprises.

WASHINGTON, D.C., Aug. 15, 2023 (GLOBE NEWSWIRE) -- As part of our efforts to accelerate minority business growth and advance economic equity the National Minority Supplier Development Council (NMSDC) and the Minority Business Development Agency (MBDA) are collaborating to bring this year’s NMSDC Annual Conference & Exchange and MBDA National Minority Enterprise Development (MED) Week to Baltimore October 22- 25. The conferences will be held in the same space to maximize attendance opportunities and will include MBDA-contributed federal government programming focused on creating greater opportunity for the minority business community.

The Capital Readiness Program represents the Commerce Department’s largest investment in support of underserved entrepreneurs.

400+ entrepreneurs and small business owners will gather to understand opportunities within the CHIPs and Science Act, staying competitive in a digital world, and accessing capital

WASHINGTON, May 01, 2023 (GLOBE NEWSWIRE) -- The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is seeking nominations for its annual National Minority Enterprise Development (MED) Week Awards. This year marks the 40th Annual National MED Week Awards, which were created in 1983 to celebrate the outstanding achievements of minority entrepreneurs and the individuals and organizations committed to advancing minority business enterprises (MBEs). Each year, the President of the United States issues a National MED Week Presidential Proclamation, commemorating the Nation’s minority business community and reaffirming our Nation’s commitment to supporting the growth and success of minority businesses, entrepreneurs, and communities.

WASHINGTON, D.C., April 24, 2023 (GLOBE NEWSWIRE) -- Today, the U.S. Department of Commerce, Minority Business Development Agency (MBDA) announced the appointment of Jessica G. Cavazos as Deputy Under Secretary for Minority Business Development. Under Secretary Donald R. Cravins, Jr. released the following statement:

The Capital Readiness Program grant competition marks the largest investment to support minority entrepreneurs and businesses from the Commerce Department

Grants will fund pilot programs that will lay the foundation for a future generation of entrepreneurial leaders and innovators