NMSDC, University of Washington Foster School of Business Announce Partnership Alliance Aims to Grow Minority-Owned Businesses
NEW YORK, June 3, 2013 /PRNewswire-USNewswire/ -- The National Minority Supplier Development Council, Inc.® (NMSDC®) and the University of Washington's Business and Economic Development Center (UW-BEDC) announced a partnership agreement to further the development of minority-owned businesses across the US on May 22 at the NMSDC's annual Minority Business Leadership Awards Dinner Dance in New York City.
This partnership joins together the nation's premier organization committed to the growth and development of Asian, Black, Hispanic and Native American-owned companies with the nation's most comprehensive business school center dedicated to the growth of minority-owned firms and businesses in low- and moderate-income communities.
"This agreement will provide minority business enterprises a new opportunity at one of the country's leading institutions that supports minority business development," said NMSDC President Joset B. Wright. "It will allow us to enhance MBEs' ability to meet the needs of their customers. We are delighted with our new relationship, and we look forward to many years of success for NMSDC, for the University of Washington, but most importantly, for our certified MBEs."
James Jiambalvo, the Dean of the UW Foster School of Business, expressed similar excitement about this partnership. "We recognize the NMSDC's pioneering role in growing minority-owned firms across the US. The work of the council and its member corporations has done more to create opportunities for business growth and wealth creation in communities of color than just about any organization in the last 40 years. We're proud to be partnering with them so that collectively we can do more than either of us could do independently."
The partners will begin their collaboration by growing the Foster School's six-year-old Minority Business Executive Program. This program has a track record of success in growing minority-owned businesses from across the US. JBE Enterprises, an NMSDC-certified firm based in South Carolina, participated in the 2012 Minority Business Executive Program. Richard Ellison, the company's Vice President and a graduate of the program attributes its ability to cross the $40 million revenue threshold in part to what firm representatives learned in this program.
NMSDC and the Foster School will launch a pilot program in June. NMSDC corporate members will select a few MBEs to participate in the program.
Ms. Wright will be the commencement speaker at the University's 2013 graduation ceremony on June 21 in Seattle.
The National Minority Supplier Development Council advances business opportunities for certified Asian, Black, Hispanic and Native American business enterprises and connects them to corporate members. One of the country's leading corporate membership organizations, NMSDC was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes.
The NMSDC Network includes a National Office in New York and 36 Regional Councils across the country. There are 3,500 corporate members throughout the network, including most of America's largest publicly-owned, privately-owned and foreign-owned NMSDC companies, as well as universities, hospitals and other buying institutions. The Regional Councils certify and match more than 16,000 minority-owned businesses with member corporations that want to purchase their products and services.
About Foster School of Business
The Michael G. Foster School of Business at the University of Washington consistently ranks among the top business schools in the United States—for both undergraduate and graduate degrees. The Foster School serves more than 2,500 students. Through the work of more than 200 students and 15 faculty and staff, the Foster School's Business and Economic Development Center is the nation's premier business school center that focuses on growing minority- and women-owned businesses as well as businesses in under-served communities. The six-year-old Minority Business Executive Program leverages the Foster School's specialization on global leadership and strategic thinking to increase the competitiveness of minority-owned firms in the global supply chains of leading US corporations.
SOURCE National Minority Supplier Development Council