Latest news with #businessaccelerator

Associated Press

Black Chamber of Arizona Kicks Off Third Impact AZ 2025 Cohort With $100K in Scholarships

- Program helps under-served entrepreneurs scale businesses, build capacity and fuel economic growth across the state - PHOENIX, Ariz., July 2, 2025 (SEND2PRESS NEWSWIRE) — The Black Chamber of Arizona, in partnership with the Millionaire Mastermind Academy, will kick off the third cohort of its signature Impact AZ 2025 business accelerator with a full-day launch event Tuesday, July 8, at the Better Business Bureau Innovation & Event Hub Center in Phoenix. The nine-month program is designed to help small business owners scale, build operational capacity and access supplier diversity opportunities. This year, 23 diverse entrepreneurs will participate at no cost thanks to $100,000 in scholarships funded by corporate sponsors. Bank of America serves as the title sponsor for the 2025 cohort. Additional sponsors include Bell Bank, Cox Communications, Aventiv Technologies, Blue Cross Blue Shield, National Bank of Arizona and the Hispanic Chamber of Commerce. 'It brings me great joy to continue this program and to thank Bank of America, our title sponsor, for making it possible,' said Dr. Velma Trayham, president and CEO of the Black Chamber of Arizona. 'To see how quickly these entrepreneurs are growing—and to witness our alumni scaling their businesses—is phenomenal. We're not just another accelerator. Impact AZ is purpose-driven, opportunity-focused, and committed to building capacity and economic resilience. These business owners are scaling their companies and fueling growth in communities statewide—a big win for Arizona.' The kickoff event, which runs from 9 a.m. to 3 p.m., will feature keynote speakers, networking, live media opportunities and a program overview for participants. Speakers include: Impact AZ 2025 serves a broad group of diverse business owners, including veterans, women-owned firms, justice-impacted entrepreneurs and businesses generating $100,000 or less in annual revenue. A key goal of the program is to help participants grow into employer firms—a critical driver of job creation and economic growth. The program offers more than 40 courses, one-on-one mentorship and access to a proprietary mobile app, providing on-demand training in procurement, capital access, strategic planning and business scaling. Since its inception in 2022, Impact AZ has graduated 75 entrepreneurs, many of whom have scaled into employer firms. Collectively, program alumni have generated more than $5 million in contract revenue. The program reports a 95% success rate among participants. In recognition of its statewide impact, Arizona Gov. Katie Hobbs officially proclaimed Impact AZ 2025 the largest supplier diversity initiative in the state. According to the U.S. Small Business Administration, small businesses make up 99.9% of all U.S. companies and nearly half of all private-sector jobs. Minority-owned businesses generate more than $1.4 trillion in annual revenue and support over 9 million jobs, yet many still face persistent barriers to capital and opportunity. Impact AZ 2025 addresses these challenges by equipping underrepresented entrepreneurs with the tools, networks and resources to thrive. About the Black Chamber of Arizona For more than 26 years, the Black Chamber of Arizona has been dedicated to strengthening small businesses and producing new economic buying power to build resilient pathways for financial growth across the state. Through strategic initiatives focused on economic development, entrepreneurship, and workforce readiness, the Chamber is committed to fostering opportunities that drive long-term success. Learn more: About the Millionaire Mastermind Academy The Millionaire Mastermind Academy is a national nonprofit dedicated to ending poverty through entrepreneurship. It empowers women and underserved communities by providing business training, mentorship and access to capital. NEWS SOURCE: Black Chamber of Arizona ### MEDIA ONLY CONTACT: (not for publication online or in print) Chris Fahrendorf [email protected] Phone: 602-421-1940 ### Keywords: Arizona Business, IMPACT AZ 2025, Black Chamber of Arizona, Dr. Velma Trayham, Millionaire Mastermind Academy, PHOENIX, Ariz. This press release was issued on behalf of the news source (Black Chamber of Arizona) who is solely responsibile for its accuracy, by Send2Press® Newswire. Information is believed accurate but not guaranteed. Story ID: S2P127430 APNF0325A To view the original version, visit: © 2025 Send2Press® Newswire, a press release distribution service, Calif., USA. RIGHTS GRANTED FOR REPRODUCTION IN WHOLE OR IN PART BY ANY LEGITIMATE MEDIA OUTLET - SUCH AS NEWSPAPER, BROADCAST OR TRADE PERIODICAL. MAY NOT BE USED ON ANY NON-MEDIA WEBSITE PROMOTING PR OR MARKETING SERVICES OR CONTENT DEVELOPMENT. Disclaimer: This press release content was not created by nor issued by the Associated Press (AP). Content below is unrelated to this news story.