Cincinnati Minority Business Accelerator Wins Kauffman Foundation Grant

By July 26, 2019 News

This week, The Ewing Marion Kauffman Foundation announced Cincinnati Minority Business Accelerator as the recipient of a 2019 Inclusion Open Grant. The accelerator is one of the nation’s longest running and most successful minority business initiatives. The Chamber will use this grant to expand its pipeline of businesses. Next Street will help the Chamber develop a comprehensive “playbook” to codify the strategies deployed by the city of Cincinnati. The playbook will leverage Next Street’s expertise in national small business ecosystem assessments. As a result, this resource will bring the success of the accelerator model to other cities and regions.

The excerpt below is from:
Chamber’s minority accelerator gets major Kauffman Foundation grant
By Chris Wetterich, Cincinnati Business Courier

July 25, 2019

The Cincinnati USA Regional Chamber’s Minority Business Accelerator has received a $450,000 grant from the Kansas City-based Ewing Marion Kauffman Foundation to expand its Cincinnati efforts but also help other cities across the country replicate its successes.

“To get this award, it’s a credibility stamp for the work we’ve done to date. It allows us to be even more impactful,” said Darrin Redus, executive director of the accelerator and a chamber vice president. “It’s a win for the community as a whole, particularly from an inclusion standpoint.”

It’s the second-largest grant the Minority Business Accelerator has received.

The two-year grant will help the accelerator do two things: vastly expand its portfolio and pipeline in Cincinnati and create a playbook that will show other regions how Cincinnati has achieved results and how they might do the same. Boston-based Next Street Financial will help develop the playbook.