Initiative For A Competitive Inner City Inc

ICIC DRIVES INCLUSIVE ECONOMIC PROSPERITY IN UNDER-RESOURCED COMMUNITIES THROUGH INNOVATIVE RESEARCH AND PROGRAMS TO CREATE JOBS, INCOME, AND WEALTH FOR LOCAL RESIDENTS.

THE PROGRAM CONSISTS OF FOUR INITIATIVES: INNER CITY CAPITAL CONNECTIONS, 10,000 SMALL BUSINESSES, CULTIVATE SMALL BUSINESS, AND INNER CITY 100.PROGRAM I, INITIATIVE 1. INNER CITY CAPITAL CONNECTIONSINNER CITY CAPITAL CONNECTIONS (ICCC) IS A TUITION-FREE EXECUTIVE LEADERSHIP TRAINING PROGRAM DESIGNED TO HELP SMALL BUSINESS OWNERS IN UNDER-RESOURCED COMMUNITIES BUILD CAPACITY AND RESILIENCY FOR LONG-TERM SUSTAINABLE GROWTH, AS WELL AS NAVIGATE THE CONTINUED IMPACT OF THE COVID-19 PANDEMIC. ICCC IS UNIQUELY DESIGNED TO PROVIDE THREE CRITICAL ELEMENTS FOR SUSTAINABLE GROWTH: CAPACITY-BUILDING EDUCATION, ONE-ON-ONE COACHING AND CONNECTIONS TO CAPITAL AND CAPITAL PROVIDERS. FROM ITS INCEPTION IN 2005, THE PROGRAM HAS SERVED 4,795 BUSINESSES, WHO HAVE AVERAGED 115% GROWTH IN REVENUE, CREATED 23,674 JOBS, AND RAISED OVER $2.35 BILLION IN CAPITAL SINCE GRADUATION.PROGRAM I, INITIATIVE 2. 10,000 SMALL BUSINESSESICIC PARTNERS WITH GOLDMAN SACHS TO IDENTIFY HIGH-POTENTIAL ENTREPRENEURS FOR THE 10,000 SMALL BUSINESSES INITIATIVE. THE INITIATIVE HELPS SMALL BUSINESS OWNERS CREATE JOBS AND ECONOMIC OPPORTUNITY BY PROVIDING THEM WITH GREATER ACCESS TO BUSINESS EDUCATION, FINANCIAL CAPITAL AND BUSINESS SUPPORT SERVICES. TO DATE, THE PROGRAM HAS SERVED OVER 12,000 SMALL BUSINESSES ACROSS THE UNITED STATES. THE PROGRAM HAS REACHED BUSINESSES FROM ALL 50 STATES, PUERTO RICO, AND WASHINGTON, D.C, AND HAS RESULTED IN IMMEDIATE AND SUSTAINED BUSINESS GROWTH FOR THE ALUMNI OF THE PROGRAM.PROGRAM I, INITIATIVE 3. INNER CITY 100THE INNER CITY 100 (IC100) IS AN ANNUAL AWARD THAT RECOGNIZES THE FASTEST-GROWING COMPANIES IN UNDER-RESOURCED COMMUNITIES ACROSS THE NATION. AWARD BENEFITS INCLUDE NATIONAL RECOGNITION AND MEDIA COVERAGE, EXCLUSIVE NETWORKING OPPORTUNITIES, AND THE OPPORTUNITY TO BE MATCHED WITH AN EXPERT, LONG-TERM BUSINESS MENTOR. THE IC100 LIST IS ANNOUNCED EACH YEAR AT THE ICIC ANNUAL CONFERENCE. SINCE 1999, ICIC HAS RECOGNIZED OVER 1,000 IC100 WINNERS THAT INCLUDE SOME OF TODAY'S MOST CREATIVE ENTREPRENEURS, INCLUDING REVOLUTION FOODS, TERRACYCLE AND TISSINI.PROGRAM I, INITIATIVE 4. CULTIVATE SMALL BUSINESSCULTIVATE SMALL BUSINESS IS DESIGNED TO HELP EARLY-STAGE ENTREPRENEURS IN LOW-INCOME NEIGHBORHOODS BUILD AND SUSTAIN THEIR BUSINESSES, WITH A FOCUS ON WOMEN, MINORITY AND IMMIGRANT OWNED BUSINESSES IN FOOD-RELATED INDUSTRIES. THE PROGRAM PROVIDES INDUSTRY SPECIFIC EDUCATION, NETWORKS AND MENTORING AS WELL AS SMALL CAPITAL GRANTS FOR BUSINESS OWNERS.

RESEARCH:ICIC'S RESEARCH HELPS PUBLIC, PRIVATE, NONPROFIT, AND COMMUNITY LEADERS UNDERSTAND AND RESPOND TO THE COMMUNITY AND ECONOMIC DEVELOPMENT CHALLENGES FACING UNDER-RESOURCED COMMUNITIES-URBAN AND SUBURBAN AREAS OF CONCENTRATED POVERTY AND LOW INCOME. OUR UNIQUE KNOWLEDGE OF THESE COMMUNITIES' STRENGTHS AND CHALLENGES IS DEVELOPED FROM PATH-BREAKING RESEARCH, CONSULTING AND PRACTICE. OUR RESEARCH AGENDA HAS POSITIONED ICIC AS THE LEADING AND MOST TRUSTED RESOURCE ON UNDER-RESOURCED COMMUNITIES AND THEIR ECONOMIES.SINCE ICIC WAS FOUNDED IN 1994, SOME OF THE CHALLENGES FACING UNDER-RESOURCED COMMUNITIES HAVE PERSISTED, INCLUDING HIGH UNEMPLOYMENT, LOW WAGES, UNDERINVESTMENT, AND SYSTEMIC RACISM. AT THE SAME TIME, INCREASING CONCENTRATION OF POVERTY, GENTRIFICATION, SUBURBANIZATION OF POVERTY, GROWING INCOME INEQUALITY AND INCOME SEGREGATION, AND EXPANDED IMMIGRATION HAVE CHANGED THE FACE OF CONCENTRATED POVERTY, CREATING NEW CHALLENGES FOR COMMUNITY AND ECONOMIC DEVELOPMENT. THESE CHANGES NECESSITATE A MIX OF PROVEN AND NEW SOLUTIONS THAT ARE TAILORED TO THE NEEDS OF INDIVIDUAL COMMUNITIES.AS THE LEADING AUTHORITY ON UNDER-RESOURCED COMMUNITIES IN U.S. METROPOLITAN AREAS, ICIC PLAYS A UNIQUE ROLE IN LOCAL INVESTMENT AND PUBLIC POLICY DECISIONS. APPLYING SOPHISTICATED ANALYTIC METHODS TO PUBLIC AND PROPRIETARY DATA, OUR RESEARCH HIGHLIGHTS THE STRENGTHS AS WELL AS THE CHALLENGES OF UNDER-RESOURCED COMMUNITIES AND SHOWS HOW THE STRENGTHS CAN BE USED TO ADDRESS THE CHALLENGES. WE HAVE A PROVEN TRACK RECORD OF WORKING WITH LOCAL LEADERS TO HELP THEM DEVELOP CUSTOMIZED, DATA-DRIVEN COMMUNITY AND ECONOMIC DEVELOPMENT PLANS.OUR PROPRIETARY STATE OF THE UNDER-RESOURCED ECONOMIES (SURE) DATABASE MAPS THE ECONOMIC PERFORMANCE AND RESIDENT PROSPERITY OF ALL AMERICAN CITIES WITH AN UNDER-RESOURCED COMMUNITY, WHICH INCLUDES 450 CITIES WITH A POPULATION OF AT LEAST 50,000 OR PRINCIPAL CITIES OF ANY SIZE AS WELL AS MANY SMALLER COMMUNITIES. SURE IS AN INDISPENSABLE RESOURCE TO ASSESS LOCAL COMPETITIVE ADVANTAGES AND SET STRATEGIES FOR INCLUSIVE ECONOMIC GROWTH.ICIC'S RESEARCH PRIORITIES FALL INTO SIX MAIN CATEGORIES:- COMMUNITY & ECONOMIC DEVELOPMENT- SMALL BUSINESS & ENTREPRENEURSHIP- INDUSTRY CLUSTERS- ANCHOR INITIATIVES- PROGRAM EVALUATION- COVID-19 IMPACTS ON UNDER-RESOURCED COMMUNITIES AND SMALL BUSINESSES.