A look at minority business mentoring programs, called accelerators, in three metropolitan areas. All the programs aim to help already established companies owned by minorities win contracts with large companies and organizations. The goal is for them to expand and hire more workers, helping the local economy.
CINCINNATI MINORITY BUSINESS ACCELERATOR
Founded: 2003 by the Cincinnati USA Regional Chamber
Current number of companies: 35
Who's eligible: Companies that are least 51 percent minority-owned, with at least $1 million in annual revenue.
How long do companies stay: No time limit.
Big companies/organizations that participate: Macy's, Procter & Gamble, Kroger, Cincinnati Reds, Duke Energy, Toyota and 32 others.
Geographic area: The Cincinnati metropolitan area, including 15 counties in Ohio, Kentucky and Indiana.
CHARLOTTE, N.C., MINORITY ECONOMIC DEVELOPMENT INITIATIVE
Founded: 2011 by the Charlotte Chamber of Commerce and Carolinas Minority Supplier Development Council.
Current number of companies: 19