Boston Scientific Invests in Greater New England Minority Supplier Development Council's (GNEMSDC) Development Program for Minority Owned Businesses
BOSTON, Jan. 12, 2021 /PRNewswire/ -- The Greater New England Minority Supplier Development Council (GNEMSDC) has received an investment of $50,000 from Boston Scientific Corporation, a global medical technology leader. In collaboration with a team of specialists from Boston Scientific, this investment will be used to enhance the content and delivery of GNEMSDC's Development Program for minority owned businesses. The Development Program, currently focused on companies "certified" as a minority business enterprise (MBE) by GNEMSDC, includes two elements: One-on-One Business Consulting tailored to the size and sophistication of the MBE and the GNEMSDC "Building Sustainable Businesses" Program which focuses on financial management, process improvement and operations, strategic planning, and marketing.
With this investment from Boston Scientific and other leading organizations, GNEMSDC will expand the scope of its Development Program beyond just the 250 currently certified MBEs in New England, and will enhance its content, staffing, and deliverables.
"This investment by Boston Scientific and others in New England will allow us to continue to build an even more effective Development Program to make more of New England's minority businesses stronger," said Peter Hurst, the President and CEO of GNEMSDC. "Minority business development helps reduce the country's racial wealth gap, and our MBE Development Program will continue to contribute to the health and growth of our current and future MBEs. COVID-19's adverse impact on minority owned businesses requires a laser-like focus on the levers that drive MBEs' success, including: access to contracts with buyers in the private sector and the public sector; access to intellectual capital that allows MBEs' owners to be more effective leaders and managers; and access to financial capital that supports their growth, whether one contract at a time or through mergers and acquisitions."
This investment is one of many actions Boston Scientific is taking to advance social justice as part of the company's anti-racism strategy, announced in 2020, which complements and accelerates the global inclusion and engagement programs that Boston Scientific has implemented over the last several years. This approach focuses on community, economic empowerment, education, healthcare disparities and government/legislative change.
"We still have work to do, but the events of the last year have pushed us to deepen our reflection on our own unconscious biases and work harder to tackle racism and social injustice so that together, we can dismantle barriers to equity," said Camille Change Gilmore, global chief diversity, equity and inclusion officer at Boston Scientific. "We will keep building on our momentum in 2021 to achieve change in our company, communities and across the healthcare system."
About the Greater New England Minority Supplier Development Council
Operating from offices in Boston, Massachusetts and New Haven, Connecticut, GNEMSDC (www.gnemsdc.org) promotes economic inclusion and minority business development. The 250 minority businesses certified by GNEMSDC have aggregate revenue of $2.7 Billion and over 20 thousand employees (65% of whom are ethnic minorities). GNEMSDC connects our corporate members with our MBEs, our corporate members with each other, and our small MBEs with our larger MBEs. Our Development Program ensures that our MBEs are contract ready when opportunities arise. Our Advocacy focuses on the impact of minority business development in making communities stronger. An independent economic impact study on GNEMSDC's MBEs found that their economic impacts included: GDP contribution of $4.3 Billion; wages supported of $1.9 Billion; and total jobs supported of over 32 thousand. Connect with us on Twitter, LinkedIn, Facebook, Instagram.
SOURCE Greater New England Minority Supplier Development Council
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