Latest news with #ICIC
Yahoo
21-05-2025
- Business
- Yahoo
ICIC Launches Manufacturing Accelerator Program to Empower Small Manufacturers with Strategies for Growth
Boston, MA, May 21, 2025 (GLOBE NEWSWIRE) -- The Initiative for a Competitive Inner City (ICIC) is excited to announce the launch of the Manufacturing Accelerator Program: High-Growth Strategies for Manufacturers (MAP), a new executive education course designed to provide small manufacturing businesses with the knowledge, tools, and tactics needed to grow and scale effectively in today's competitive marketplace. Thanks to the generous support of ICIC's sponsors, this high-value education program is offered at no cost to small business participants, empowering them to take their businesses to the next level. MAP is a comprehensive, industry-specific program that will help participants develop and implement profitable business strategies, optimize operations, integrate cutting-edge technologies, and secure capital for expansion. Delivered virtually in a 12-week curriculum, the program is taught by industry experts and practitioners and offers valuable peer-to-peer networking opportunities. Steve Grossman, CEO of ICIC, shared: 'ICIC's mission has always been to empower small businesses, and the MAP program takes this commitment a step further. We're providing manufacturers with the strategic insights and practical tools they need to drive sustainable growth in their business. This program is a key resource for manufacturers looking to enhance their operational efficiency and accelerate their growth, all the while being supported by a network of industry leaders and peers.' The MAP curriculum focuses on areas most essential to success as a manufacturing firm, including strategic growth, market positioning, operational excellence, leadership development, and financing. Participants will gain actionable tactics to drive profitability and position their businesses for long-term success. 'We designed MAP to be a true game-changer for small manufacturers,' said Brian Becker, MAP Program Director and Founder and CEO of Becker Growth Strategy. 'The program combines expert instruction with real-world, actionable strategies. It's an opportunity for manufacturers to not only learn but to immediately implement the tools needed for growth and success.' Harnessing Partnerships to Power SuccessICIC is grateful to our funding partners, including MassMutual Foundation, the Schooner Foundation, and ICIC's board of directors for underwriting this program. We are proud to collaborate with the Georgia Tech Enterprise Innovation Institute and the National Minority Supplier Development Council (NMSDC) to deliver MAP. These partnerships enable ICIC to reach a broader network of manufacturers, ensuring the program's impactful resources are made accessible to businesses across the country. Applications Are Now Open!Applications for MAP's inaugural cohort, beginning in August 2025, are now open. The first cohort will be limited to approximately 50 businesses, with applications accepted on a rolling basis until all seats are filled. Interested manufacturers can apply today at For more information, including eligibility and program details, or to nominate a business, visit About ICIC Breaking barriers. Building businesses. Strengthening communities. The Initiative for a Competitive Inner City (ICIC) is a national nonprofit dedicated to helping under-resourced communities and small businesses thrive through programming and research. Founded in 1994 by Harvard Business School professor Michael Porter, ICIC provides executive education, coaching, technical assistance, and access to capital to more than 3,000 businesses across the U.S. and Canada each year. Through its research and partnerships, ICIC facilitates private-sector investment and economic development, creating opportunities for small businesses and local economies. Learn more at CONTACT: Sarah Ginand ICIC +1 617-803-4532 sginand@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12-05-2025
- Business
- Yahoo
ICIC's 2025 Innovation Summit: Ingenuity, Community, and Growth
LOS ANGELES, CA, May 12, 2025 (GLOBE NEWSWIRE) -- The Initiative for a Competitive Inner City (ICIC) kicked off the 2025 Innovation Summit on April 22nd in downtown Los Angeles with a Welcome Reception at the GRAMMY Museum, followed by a full-day conference on April 23rd, bringing together a diverse community of small business alumni, partners, and thought leaders for inspiring discussions and valuable insights. The summit's location in the heart of Los Angeles was meaningful, given the city's ongoing recovery after the recent wildfires and its role as the birthplace of ICIC more than 30 years ago. By gathering in this region, ICIC sought to contribute to the continued efforts to promote economic vitality and resilience in an area that has shown incredible strength and determination. Attendees embraced a distinct sense of collective strength and connection during this critical time, where collaboration and innovation are essential to driving business success. Steve Grossman, CEO of ICIC, shared: "This event highlighted the resilience and strength of our community. Our collective commitment to innovation and growth continues to fuel small businesses and empower their success. Based on ICIC's research, we learned that the integration of AI into business practices is transforming how companies operate. This conference created an environment in which small businesses could access the training, technology, and sense of community they need to build and grow their businesses." One of the key highlights was the kickoff of the Intuit More with AI Tour, which made its first stop at the summit. Attendees were given the chance to engage with AI-driven tools and explore how artificial intelligence can help small businesses improve efficiency, decision-making, and growth. The interactive sessions provided insights into how businesses can use AI responsibly to streamline operations and stay ahead in an increasingly competitive market. The Intuit More with AI Tour continues with upcoming stops in New Haven, CT and Boulder, CO, among others throughout the country. Additional conference highlights included: Keynote Addresses: Do More with AI – Responsibly Grow and Scale Your Team and Business – Anoop Sreenivasan, Vice President, Go-To-Market Technologies at Intuit, kicked off the summit, focusing on helping small businesses adopt AI to enhance productivity and streamline operations. Unlocking Success Through the Power of Innovation – Brandon F. Shamim, Founder & Chief Strategist at Ascendant Solutions, discussed how innovation is unlocking new pathways for success across industries. Fireside Chat: Innovating for Social Good – Moderated by Jodie Lesh, Managing Director at Deloitte, with Laura Johnson from Kaiser Permanente, Vanessa Faggiolly from Amerisal Foods, and Andrew San Nicolas from Kingdom Causes Bellflower, this session focused on how institutions and local businesses are strengthening communities through innovation. ICCC 20th Anniversary Celebration – Diego Portillo Mazal, Director of ICIC's ICCC program, celebrated the continued impact of the program, which has helped thousands of businesses raise capital and create jobs. Business Growth Marketplace – Featuring small businesses from ICIC's alumni network, sponsors, and ecosystem partners, this marketplace provided an opportunity for collaboration and growth. Gentler, Kinder Shark Tank-style Pitch Competition – The competition showcased innovative products and services from small business owners who received live feedback from a panel of expert judges. Presentation of the Inaugural Intuit Innovation Award – The first-ever award was presented to Jones Software Corporation, recognizing their exceptional use of technology and innovation to drive business growth and impact. The summit was filled with valuable networking opportunities, interactive workshops, and dynamic discussions, positioning attendees to return to their businesses with new ideas and connections to drive success. We would like to express our heartfelt thanks to our funding partners, whose continued support makes events like the ICIC Innovation Summit possible. Their commitment to fostering innovation and growth in small businesses is invaluable. Thank you to Intuit, Kaiser Permanente, Bank of America, Chevron, FedEx, Regions Bank, Appleton Partners, Arctaris Impact Investors, Bain Capital, Boston Consulting Group, The Home Depot, East West Bank, and Santander for their vital role in advancing small business success. About ICIC Breaking barriers. Building businesses. Strengthening communities. The Initiative for a Competitive Inner City (ICIC) is a national nonprofit dedicated to helping under-resourced communities and small businesses thrive through programming and research. Founded in 1994 by Harvard Business School professor Michael Porter, ICIC provides executive education, coaching, technical assistance, and access to capital to more than 3,000 businesses across the U.S. and Canada each year. Through its research and partnerships, ICIC facilitates private-sector investment and economic development, creating opportunities for small businesses and local economies. Learn more at CONTACT: Sarah Ginand ICIC +1 617-803-4532 sginand@ in to access your portfolio
Axios
11-03-2025
- Business
- Axios
What's new and what's next: How small business owners are using AI
AI is no longer just for large corporations with dedicated tech teams. Nearly 89% of small business owners indicated that someone at their business currently uses AI tools, according to a new report from the Initiative for a Competitive Inner City (ICIC), supported by Intuit. The report is based on a survey of 3,752 U.S.-based small business owners as well as five focus groups. Why it's important: AI has the potential to make small businesses competitive with much larger firms and level the playing field. The ways small businesses adopt AI could broadly affect work and commerce — and the U.S. economy as a whole. Okay, but: While adoption is high, many business owners face barriers to AI implementation. Many small business owners said a lack of knowledge of tools is keeping them from adopting AI. Some also cited its potential complexity as a challenge, along with the perception that AI technology is changing too quickly. A closer look at this new data from Intuit and ICIC reveals how small businesses are using AI today, the challenges they face and what's needed to ensure they can maximize its benefits. 🤖 How small businesses are using AI Small businesses are largely using AI tools to speed up or automate routine tasks. The top five AI uses reported by small business owners include… Data analysis (26.8%). Writing marketing materials (25.2%). Drafting emails and other communication (23.4%). Drafting blog posts or newsletters (22.7%). Summarizing web content (22.7%). The impact: AI is helping improve employee productivity and job satisfaction. 62% of business owners whose businesses had already adopted AI reported positive changes in employee productivity since implementation. 63% of employer businesses that already use AI reported seeing positive changes in job satisfaction. Looking ahead: The study's focus group participants expressed strong interest in expanding their use of AI into more complex and strategic areas, including data analysis, financial forecasting and customer interfacing. 🤖 Barriers to small businesses adopting AI Despite the widespread adoption of AI amongst small businesses, barriers to adopting and understanding the technology still exist — particularly for those who have yet to implement AI tools. Most business owners report a medium or high level of comfort using AI for their businesses. However, there are gender and racial differences. Business owners who are men report higher levels of comfort with AI than those who are women, nonbinary or gender-nonconforming. Minority business owners report low comfort with AI tools at about two times the rate of non-minority business owners. Some of the main reasons small business owners said they haven't implemented AI tools include: "I don't know enough about new digital tools." (71.9%) "They are not useful for our business." (33.6%) "I don't know how to keep sensitive data safe when using AI." (30.4%) "They are too time-consuming to implement." (26.2%) Plus, plus, plus: The three most cited barriers to understanding AI are the perceptions that: AI is changing too quickly. The cost of AI tools is too high. The information involved in AI topics is too complex. Owners of the smallest business also cited a lack of time as a barrier to understanding AI. 🤖 How small business owners are learning about AI AI is evolving quickly — so how are small business owners learning about the technology and keeping up? The most common resources small business owners said they have used to learn about AI include podcasts or videos, online forums, and social media. Trial and error (aka learning by doing) was also a common approach. Resources small business owners would like to see more of included online courses/training, online tutorials and in-person courses/training. Participants in one focus group unanimously agreed that in-person instruction was valuable. One person noted that online resources are great, but having a conversation with a topic expert is important for a deeper understanding of how AI can help them. Their goals: Small business owners said they'd like to learn more about: "How it can help my business grow and become more profitable." (42%) "Data privacy and security." (36.6%) "How to get the best results (e.g., keywords, how to write prompts)" (35.2%) 🤖 The research takeaways and what's ahead The research findings from ICIC indicate there's a pressing need for small business educational programming around responsible AI use. With this insight, businesses, educators and policymakers can address common barriers and ensure AI adoption is both effective and inclusive. Data-driven recommendations include: 1️⃣ Educational programs should be flexible and reflect the diversity in needs and preferred training styles of small businesses. 2️⃣ Small business owners should be aware of the advantages of including employees in decision making around new technology for effective AI adoption. 3️⃣ Transparency about the benefits and risks of AI use will help small business owners understand how to use AI responsibly. Next steps: Armed with these new insights, Intuit and ICIC are partnering for the "Intuit More with AI Tour" in 2025. The tour will host six events across the U.S. What to expect: Free half-day events will provide local small and mid-market businesses with actionable insights and hands-on experience on a range of small business AI tools from Intuit and other companies. The curriculum will include practical applications, benefits and responsible implementation strategies. 📊 Dig deeper into the research.
Associated Press
27-02-2025
- Business
- Associated Press
ER2: Transforming Communities Through Technology and Service
In the rapidly evolving world of technology and sustainability, Electronic Responsible Recyclers (ER2) has earned the prestigious FedEx Champion of Global Entrepreneurship award. Sponsored by FedEx, this award celebrates businesses that exemplify innovation, sustainability, and social impact on a global scale. The recognition is annually conferred to one company on the Inner City 100 list, which honors the 100 fastest-growing companies in under-resourced communities across the United States. The 2024 IC100 winners were unveiled at ICIC's 30th Anniversary Celebration. Speaking about the award, Jenny Robertson, Senior Vice President of Global Brand and Communications at FedEx, stated, 'FedEx equips entrepreneurs from all backgrounds with the training, connections, and access to capital they need to more effectively compete in the global marketplace, build a customer base, generate new jobs, and create a better living for themselves and their communities.' Founded by Chris Ko, ER2 specializes in helping large companies manage their IT hardware assets throughout their lifecycle — from acquisition to disposal. What sets ER2 apart, however, is its commitment to making a difference. 'We recycle IT hardware and donate it to underprivileged families, students, and veterans all across the world,' Ko explains. By extending the life of technology, ER2 not only supports sustainability but also helps underserved communities gain access to essential tools. A Global Footprint with Local Impact ER2 works with some of the largest Fortune 100 companies, providing seamless service across the globe, including regions like the UAE, India, and South America. 'Our objective is to help service [international clients] just like we do stateside,' Ko says. Internationally, ER2's contributions include donating 2,000 keyboards to a school in Africa, giving students their first hands-on typing experience. As Ko puts it, 'These are the little things we can do to empower others to transform their lives by investing in themselves and embracing technology that once felt out of reach.' But ER2's impact is just as profound locally. The company donates about 1,000 laptops annually to programs like Nashville's Anywhere Access for All, helping underserved populations and elderly residents access technology and training. Robertson further emphasized the importance of these efforts, saying, 'Small businesses are critical to the success of FedEx — not only as customers, but as suppliers and vendors as well. Our collaboration with ICIC furthers our goals to empower entrepreneurs by supporting programming for small business owners from under-resourced communities.' A Culture of Service and Humility ER2's mission is deeply rooted in its core values of servanthood, humility, excellence, and continuous improvement. From high-fiving team members at the start of the day to fostering an environment of camaraderie, the company prioritizes people at every level. 'We started our organization trying to create a place where people feel actually real, valued, cared for, embraced, and loved exactly as they are,' Ko shares. This positive culture extends to ER2's clients, team members, and global community. Rocky Jackson, a key team member, notes, 'The people are the most unique asset that we have is absolutely a place that most of our team members love coming into in the mornings.' Unity in Action As an alumnus of ICIC programs, Ko recognizes the power of collaboration and shared knowledge. 'In this type of network, we're able to bounce ideas off of each other, overcome obstacles, and provide insights to promote people doing similar things in different ways,' he explains. This spirit of teamwork aligns closely with the broader goals of FedEx. As Robertson puts it, 'FedEx is committed to making a meaningful difference in communities by promoting positive change.' As a FedEx Champion of Global Entrepreneurship, ER2 exemplifies how businesses can drive innovation and create lasting impact. Ko emphasizes the importance of defining a clear vision, mission, and values, which serve as guiding principles for ER2. 'Everyone in our company knows them. It's something we absolutely constantly stay focused on because we don't ever want to lose sight of why we're doing what we're doing and the impact that we can have,' he says. Looking Ahead ER2's recognition as a FedEx Champion of Global Entrepreneurship underscores its ability to merge sustainability, innovation, and community impact into a successful business model. From recycling IT assets to bridging the digital divide, ER2's work demonstrates the power of socially conscious entrepreneurship. By sharing stories like ER2's, ICIC and FedEx continue their mission of empowering small businesses and entrepreneurs to build a better future. ER2's journey serves as a shining example of how businesses can create meaningful change, one laptop, one keyboard, and one connection at a time. About the IC100 Awards Since 1999, ICIC has identified and honored the 100 fastest-growing businesses located in under-resourced communities through the prestigious Inner City 100 (IC100) awards. Throughout this period, ICIC has had the privilege of learning about and highlighting more than 1,000 remarkable business leaders and companies from across the United States. These firms have proven to be catalysts for job growth and promoters of a thriving, inclusive economy, even amidst challenging circumstances. Furthermore, they have actively contributed to the enhancement of their communities by generously donating their time and resources to local organizations and charitable causes.
