The first cohort of a diversity readiness program launches on April 24 in Scottsdale, with a full-day business assessment and welcome remarks from community leaders/stakeholders paving the way for “dramatic change among Black-owned Arizona businesses.”
IMPACT AZ 2025 kicks off its supplier diversity readiness program 9:30 a.m.-2:30 p.m., April 24, at Thinkzilla Consulting Group Skysong 3, in the Arizona State University Innovation Center, 1365 N. Scottsdale Road, Suite 140, to help close the racial wealth gap for business owners.
The three-year program offers a hybrid of an online curriculum through an interactive e-learning platform with in-person sessions, mentorship and live business coaching, according to a press release.
Scottsdale Mayor David Ortega will share opening remarks and other speakers include:
Fifty-two Arizona businesses accepted in the program will receive a strategic action growth plan with benchmarks and performance targets to access the support and resources necessary to win contracts, the release said.
Dr. Velma Trayham, Millionaire MastermindAcademy founder noted the program's benefits to participants and for the state.
“More than 50 local businesses now have access to opportunities and resources that will create job opportunities and economic impact. I look forward to helping more than 250 companies get access to contracting readiness and opportunities. We are incredibly grateful to our sponsors, technical assistance partners, mentors and advisors for making this program possible,” Trayham stated.
The Millionaire Mastermind Academy, a nonprofit organization has helped more than 8,000 diverse women entrepreneurs countrywide while addressing barriers to economic mobility. Executing the Impact AZ 2025 programming with the Black Chamber of Arizona is in response to the State of Black Business Report,which highlighted financial gaps and opportunities for diverse business owners.
The “solutions-driven accelerator program” is said to expand procurement opportunities with corporations and government entities, preparing business owners to win contracts. Fortune 500 companies spend about 2% annually on minority-owned suppliers, short of the 10-15% spending goals many corporations set each year, the release said of improving traditional supplier diversity approaches.
“Impact AZ 2025 is groundbreaking for its size and focus on Black entrepreneurs, with clearly measurable metrics focused on advancing Black-owned businesses from solopreneurship to employer-based companies that surpass the $1 million revenue threshold,” said Robin Reed, Black Chamber of Arizona CEO in a prepared statement. “Using data from the State of Black Business report, Impact AZ addresses the most urgent needs for Black-owned businesses today.”
The Millionaire Mastermind Academy’s Scottsdale office at Arizona State University’s Skysong 3 will provide a physical space for entrepreneurs to meet with mentors and corporations as part of the program,which includes three, nine-month accelerators. The space will also support collaboration, networking opportunities and round table discussions for business growth, the release noted.
“This market cannot fully reach its potential while there are segments of our population underrepresented in high-wage occupations or unable to receive the requisite capital to support innovative business,” stated Chris Camacho, Greater Phoenix Economic Council president/CEO. “This initiative takes a critical step in addressing this disparity, with an actionable, solution-driven approach to leveraging regional connections to support Black-owned suppliers and businesses.”
For more information: impactaz2025.com.