Minority participants garnered $2M in contracts, 22% added staff
PHOENIX, Ariz. /CitizenWire/ — Thinkzilla Consulting Group today announced that ImpactAZ 2025, a statewide supplier-diversity accelerator serving black and other minority business owners, has announced the results from its inaugural cohort:
* Retail owners averaged 186 new customers
* 40% of cohort companies saw an increase in revenue and strategic partnerships
* 22% of firms hired staff or management
* Companies got $200,000 in investment
* Firms secured $2M in corporate contracts
Thirty-five participants selected for the accelerator completed the program, with 75% attending all technical assistance programming.
“Cohort CEOs are seeing such strong results because of their absolute commitment to opening up new doors of opportunity for small and historically disadvantaged businesses,” said Dr. Velma Trayham, who created the accelerator and whose nonprofit provides the program management. “Corporations and Government entities expect excellence in their suppliers, and these leaders are ready to deliver.”
A private celebration on January 16 will mark the cohort’s graduation and signal the opening of applications for the second of the accelerators, which will commence on April 23, 2024.
About ImpactAZ 2025:
Developed in response to the State of Black Business Report, which highlighted financial gaps and opportunities for diverse business owners, ImpactAZ 2025 is a state-wide three-year series of supplier-diversity accelerators, the collective goal of which is to develop 200 startup companies, see 500 firms hire additional employees and assist 50 companies in getting corporate contracts. Using entrepreneurship as an engine, its fundamental objective is to decrease the racial wealth gap and economic insecurity among minorities.
Each of the three 36-week accelerators combines live mentoring, business coaching, and networking opportunities at its technical assistance hub in Scottsdale with online education about financial management, sales, business operations, and doing business with corporations. Personalized benchmarks and KPIs undergird each cohort company’s growth plan for strengthening capital readiness and operating capacity and increasing revenue.
The solutions-drive accelerator is a program of the nonprofit Millionaire Mastermind Academy, which provides technical assistance for the initiative. Collaborators include the Black Chamber of Arizona and the Arizona Hispanic Chamber of Commerce.
The accelerator enjoys broad corporate and community support led by JPMorgan Chase. Aventiv, Bank of America, Arizona Public Service, Salt River Project, Via West Group, American Landmark Apartments, Greater Phoenix Economic Council, the City of Phoenix, Commerce Bank AZ, SCORE, and the AIANNH Project NABEDC, operated by the Arizona Hispanic Chamber of Commerce Foundation, are additional sponsors.
Learn more at https://impactaz2025.com/.
RELATED LINKS:
https://www.gpec.org/blog/regional-report-state-of-black-business-2022/
https://millionairemastermindacademy.org/
Learn More: https://thinkzillaconsulting.com/
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