The National Minority Supplier Development Council, Inc.® (NMSDC®) and the University of Washington’s Business and Economic Development Center (UW-BEDC) announced a partnership agreement to further the development of minority-owned businesses across the US at the NMSDC’s annual Minority Business Leadership Awards Dinner Dance in New York City.
This partnership joins together the nation’s premier organization committed to the growth and development of Asian, Black, Hispanic and Native American-owned companies with the nation’s most comprehensive business school center dedicated to the growth of minority-owned firms and businesses in low- and moderate-income communities.
The National Minority Supplier Development Council was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes.
The NMSDC Network includes a national office in New York and 36 Regional Councils across the country. There are 3,500 corporate members throughout the network, including most of America’s largest publicly-owned, privately-owned and foreign-owned NMSDC companies, as well as universities, hospitals and other buying institutions.
The Michael G. Foster School of Business at the University of Washington consistently ranks among the top business schools in the United States—for both undergraduate and graduate degrees. The Foster School serves more than 2,500 students.
The six-year-old Minority Business Executive Program leverages the Foster School’s specialization on global leadership and strategic thinking to increase the competitiveness of minority-owned firms in the global supply chains of leading US corporations.
“This agreement will provide minority business enterprises a new opportunity at one of the country’s leading institutions that supports minority business development,” said NMSDC President Joset B. Wright. “It will allow us to enhance MBEs’ ability to meet the needs of their customers. We are delighted with our new relationship, and we look forward to many years of success for NMSDC, for the University of Washington, but most importantly, for our certified MBEs.”
James Jiambalvo, the Dean of the UW Foster School of Business, expressed similar excitement about this partnership.
“We recognize the NMSDC’s pioneering role in growing minority-owned firms across the US. The work of the council and its member corporations has done more to create opportunities for business growth and wealth creation in communities of color than just about any organization in the last 40 years. We’re proud to be partnering with them so that collectively we can do more than either of us could do independently.”
The partners will begin their collaboration by growing the Foster School’s six-year-old Minority Business Executive Program. NMSDC and the Foster School will launch a pilot program in June. NMSDC corporate members will select a few MBEs to participate in the program.