To learn more about how you can support ICIC, please email Liz Pugh, Director of Development.
Our corporate, foundation, and individual partners have one thing in common: an unwavering commitment to helping under-resourced communities and small businesses thrive. ICIC brings a unique set of capabilities to our role as a partner and advisor: we apply more than two decades of pioneering research and experience designing and implementing national small business growth programs. Our work with institutions and foundations helps advance knowledge of underserved economies and the strategies that inform successful urban policy. ICIC collaborates with corporate partners to increase inclusive economic prosperity by creating shared value with their communities. We help them identify market opportunities, potential vendors, investments, and public sector allies to achieve their vision and objectives.
SUSTAINING NATIONAL PARTNERS
ICIC leads the application and selection process for Goldman Sachs 10,000 Small Businesses, a $500 million investment to help small businesses create jobs and economic opportunity by providing them with greater access to business education, financial capital, and business support services.
Kaiser Permanente has partnered with ICIC on our Inner City Capital Connections (ICCC) program to realize Kaiser’s vision for improved wellness outcomes through economic empowerment.
Santander and ICIC have partnered together to launch Cultivate Small Business, an innovative new program linking small business resources to a regional cluster, 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. Santander also partners with ICIC on other Urban Business Initiatives, including the Inner City 100 and the Inner City Capital Connections (ICCC) program.
Bank of America and ICIC co-created the Inner City Capital Connections (ICCC) program in 2005, which is now offered in more than 10 cities throughout the United States. ICCC is the only program of its kind, focused on teaching small businesses in economically-distressed areas how to raise capital and facilitate connections with interested investors. As a result of their long-term partnership, Bank of America and ICIC have helped nearly five thousand companies in cities around the country, raising over $2.3 billion in capital and creating more than 22,000 jobs.
Chevron Corporation supports ICIC’s longstanding entrepreneurship program, the Inner City 100, and our annual analysis of urban small business. Chevron and ICIC celebrate shared value in the co-creation and presentation of the Dorothy Terrell Community Impact Award, which honors the Inner City 100 company with the greatest impact on its community and workforce.
FedEx has partnered with ICIC to create a robust Inner City Capital Connections (ICCC) site in Memphis, helping FedEx realize its vision for empowering entrepreneurs and creating employment pathways for the underserved. FedEx also partners with ICIC on the Inner City 100 program that recognizes and celebrates fast-growing companies whose success illuminates the competitive advantages of locating within the inner city, including presenting the annual FedEx Champion of Global Entrepreneurship Award.
ICIC is a proud partner of JPMorgan Chase’s Small Business Forward (SBF) initiative, a five-year, $75 million commitment that connects underserved small businesses with the capital, targeted technical solutions, and networks they need to grow and succeed. We evaluate SBF annually to capture the program’s impact, and our research supported by JPMorgan Chase continues to inform the initiative’s strategic direction.
The Hartford Foundation for Public Giving has partnered with ICIC to bring its Inner City Capital Connections (ICCC) program to Greater Hartford. This effort builds upon the Hartford Foundation’s work to create economic opportunities by promoting entrepreneurship, particularly for women and minorities who often struggle to grow their business, and to cultivate greater opportunities for local residents to access career pathways that provide self-sustaining wages.
With Regions’ support, ICIC has brought the Inner City Capital Connections (ICCC) program to Birmingham, Memphis, St. Louis, Tampa Bay, Atlanta, and Houston over the last several years. By providing local entrepreneurs with access to capital, education, and resources for growth, Regions is helping create shared value by strengthening economically-distressed small business ecosystems throughout its footprint.
AmerisourceBergen and The AmerisourceBergen Foundation have partnered with ICIC on our Inner City Capital Connections (ICCC) program to drive inclusive economic growth and provide capacity building for small businesses, including a subset that are health care-focused. businesses.
Robert Wood Johnson Foundation
With a grant from the Robert Wood Johnson Foundation, ICIC is conducting research in small and midsize cities to explore the impacts, strategies, and motivations of companies related to economic development and gentrification in low-income communities as well as those related directly to health outcomes. This research will inform RWJF’s exploration into the ways that for-profit companies can potentially act as anchor institutions in their communities and also influence other companies and industries by their social impact efforts.
As part of Yum! Brands’ global Unlocking Opportunity Initiative, which is its commitment to tackle inequality and make a positive and sustainable social impact in communities and on frontline restaurant workers, Yum! has partnered with ICIC to bring the Inner City Capital Connections (ICCC) program to Canada for the first time. The program focuses on equity and inclusion, education and entrepreneurship – all key tenets of Yum!’s initiative. Delivered in partnership with Pizza Hut, the program will be offered in English and Canadian French, targeting minority-, immigrant-, indigenous-, and disabled-owned businesses throughout Canada.
Arctaris has been a leading supporter of the Inner City Capital Connections program since 2015, supporting cohorts in Massachusetts and more recently in Detroit. Arctaris has partnered with the Kresge Foundation, ICIC, and multiple other foundation, federal and state government agencies to invest in Opportunity Zones, inner cities and targeted rural communities throughout the U.S., with the aim of delivering above-market investment returns alongside positive social impact.
ICIC and General Motors have partnered to bring the Inner City Capital Connections (ICCC) program to Detroit for the first time since 2013. The partnership delivers upon GM’s efforts to foster the growth and sustainability of diverse small businesses. For GM, Supplier Diversity is the economic engine that drives empowerment, equity, and inclusion into our supply chain & business community. Supporting local businesses with the technical assistance that they need to thrive is an investment in our collective future.
Ewing Marion Kauffman Foundation
With a grant from the Ewing Marion Kauffman Foundation, ICIC is studying the impact of the COVID-19 recession and the progress of economic recovery for businesses categorized by size, industry, and the business owner’s race, ethnicity, and gender. With Kauffman’s support, ICIC will release quarterly dashboards, public reports, and webinars that track the recession’s impacts on the number of jobs and businesses at the national, state, and local levels.
Vizient’s support of ICIC’s Inner City Capital Connections program helps ensure that small business owners in cities around the country will receive effective executive training, coaching/mentoring, and access to capital. Vizient, the largest Group Purchasing Organization in the United States, began its partnership with ICIC in 2018, in the hopes of bringing ICCC’s unique program model to small businesses within its network of more than 1600 members.
ICIC is also deeply grateful to its partners for their generous support of our mission. The following contributed $25,000 or more during the past two years:
Barbara & Amos Hostetter
Beatrice Fox Auerbach Foundation
The Edgerley Family Foundation
Kessler Family Foundation
Lovett-Woodsum Foundation, Inc.
Michael E. Porter
Rubenstein Family Foundation
Susan Schiro and Peter Manus
ICIC drives inclusive economic prosperity in under-resourced communities through innovative research and programs to create jobs, income, and wealth for local residents.
PO Box 191297
Roxbury MA 02119
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