The Minority Business Development Agency (MBDA), a bureau of the U.S. Department of Commerce, provides Federal assistance to support innovative projects seeking to promote and ensure the inclusion and use of minority enterprises. This Announcement (dated April 26, 2019) provides information about the Agency’s strategic priorities for the American Indian, Alaska Native, and Native Hawaiian project (AIANNH) businesses to encourage new activities, education, outreach, innovative projects that are not addressed through other MBDA programs.
This Announcement provides information about the Agency’s strategic priorities for the American Indian, Alaska Native, and Native Hawaiian project (AIANNH) businesses to encourage new activities, education, outreach, innovative projects that are not addressed through other MBDA programs. This announcement is not a method for awarding congressionally directed funds or existing funded awards. The focus areas of the AIANNH project are job creation and retention, and economic impact for Tribal communities and businesses. The AIANNH projects may provide services including, but not limited to: entrepreneurial assistance, training, capital access, Federal procurement assistance, networking and relationship management, deal sourcing, joint ventures and partnerships, strategic infrastructure and economic planning assistance, and education for entrepreneurial and tribal entities.
MBDA will provide financial assistance to support innovative projects seeking to impact one or more core needs for AIANNH entities and businesses. Although AIANNH businesses experience a range of common needs and problems that impede growth, MBDA has identified the following three Strategic Initiatives to support Tribal and native business growth:
AIANNH Strategic Initiatives
a. Innovation and Entrepreneurship (e.g., business training, access to capital, incubators, accelerators, Federal program coaching);
b. Strategic Planning (e.g., fostering, developing and/or implementing entrepreneurial and economic development); and
c. Transformative Projects (e.g., support for MBEs involved in infrastructure focused public-private partnerships, and broadband projects).
AscendPhoenix is powered by JPMorgan Chase and in a collaborative effort between the Arizona Hispanic Chamber of Commerce, Phoenix MBDA Business Center, NABEDC, and CPLC Prestamos. Ascend Phoenix will assist in improving management skills, creation of a pipeline in Arizona, access to money, and growing market connections in a tailored approach to maximize the unique opportunities of Arizona-based businesses. The overarching goal is to create multiple pathways to new opportunities, assist with securing additional revenue, and provide enhanced direction to business management.
Coronavirus Aid, Relief, and Economic Security Act Grant (“CARES Act”) from the United States Department of Commerce, Bureau of Minority Business Development Agency (MBDA)
Congress authorized MBDA in sections 1107 and 1108 of the CARES Act (P.L. 116-136), to provide financial assistance for 1) minority business centers for technical assistance to small business concerns, and 2) MBDA business centers and minority chambers of commerce as funding for education, training, and advising to minority business enterprises. Congress has authorized supplemental funding for the current MBDA business centers and new business centers to provide immediate relief to small and minority businesses to assist in their recovery from the effects of the COVID-19 crisis.