The Minority Business Development Agency (MBDA) has partnered with Urban Strategies Inc. (USI) to enhance opportunities and access for minority businesses across the US. Acting Under Secretary of Commerce for Minority Business Development at the MBDA, Eric Morrissette, and USI President, Esther Shin, marked the partnership with the signing of a memorandum of understanding. Expanding Access to Resources for Minority Entrepreneurs The USI’s federally designated Community Development Financial Institution (CDFI) fund aims to promote racial and economic equity by offering resources and capital. By working together, the the MBDA and
Audible has recently welcomed four new minority-owned businesses into its Newark, NJ-based Business Attraction Program. The initiative, launched in August 2023, aims to bolster the local economy by supporting startups through financial backing and expert mentorship. Empowering Diverse Founders The focus on minority-owned companies, especially those led by Black women, comes at an important time. Nationally, Black-owned businesses receive one percent of venture funding. Audible’s program seeks to change this disparity by offering each company up to substantial non-dilutive grants of $250,000. These funds are allocated for office space, relocation, and local
