Agency launches a grant competition in support of minority manufacturers
The projects will provide targeted assistance to minority manufacturers to increase the number of “Made in America” products that can be sold domestically and globally. The project funding is designed to help identify, screen, promote, and refer minority business enterprises (MBEs) to specialized advanced manufacturing programs, and provide technical and business development services.
“These projects are essential to supporting minority-owned businesses and helping them excel in the areas of innovative technology that create high quality manufacturing jobs,” said MBDA National Director Alejandra Y. Castillo. “There is a great need for more minority manufacturers and we want to help cultivate the talent that exists in our minority communities.”
According to data from the U.S. Census Bureau’s 2012 Survey of Business Owners, the number of minority-manufacturers increased 30 percent between 2007 and 2012 to nearly 107,000. These firms generated $80 billion in annual receipts in 2012. Twenty-five thousand minority manufacturers employ almost 332,000 workers. The project is part of the Agency’s commitment to ensuring minority businesses are playing an integral part in keeping the ‘Made in America’ product strong as the U.S. manufacturing sector continues to rise.
MBDA invites applications from for-profit entities, non-profit organizations, state and local governments, American Indian tribes and educational institutions to apply to operate the MBDA Advanced Manufacturing Project. Applications are due June 17, 2016.
Applicants must be able to demonstrate the following:
- Knowledge of the minority business sector and strategies for enhancing MBE growth and expansion related to advanced manufacturing and/or manufacturing industry.
- Experience working with MBE manufacturers and facilitation to include, but not limited to, capital and contracts for the MBE manufacturers.
- Knowledge of and experience in public and private sector contracting opportunities for MBEs, as well as demonstrated experience in assisting clients into supply chains.
- Professional working relationships and networks with potential sources of contracts for MBEs.
- Experience with facilitating large contract/procurement deals on behalf of minority manufacturing firms, conducting business matchmaking forums, and assisting MBEs with the establishment of joint ventures and teaming arrangements.
- Experience in successfully preparing and matching MBEs with traditional sources of capital, alternative sources of financing (e.g., equity and venture capital), loan and bonding packages, and mergers and acquisitions.
More information can be found at www.grants.gov or www.mbda.gov.
