ASCEND 2020 Kellogg/JHLA

Project: Research project

Project Details

Description

This partnership seeks to build a program that marries management education, market access, and capital access to grow businesses and jobs in low and moderate income (LMI) communities in Chicagoland, and to develop a network that links business schools, market access organizations, Community Development Financial Institutions (CDFI) and Chase small business banking.

1. Provide a 4-day executive custom management education program for minority-owned businesses to enhance potential for growth and increase hiring in under-resourced LMI neighborhoods in Chicagoland area. Kellogg MBA students serve as resources for owners during and outside of class. Students will learn more about issues in under-served communities and be better prepared to address them in future careers. (Kellogg)

2. Facilitate growth of minority-owned businesses by providing access to market opportunities primarily in the utilities, construction, health, and possibly tech industries with organizations such as CASE, Chicago Urban League, and Minority Supplier Development Council. (JHLA)

3. Facilitate growth of minority-owned businesses by providing direct access to CDFIs, Chase, and other funding opportunities. (JHLA)

This partnership with JHLA links the Kellogg School with diverse business and nonprofit communities; helps businesses scale, retain and create jobs; stimulates innovative economic development; and expands students' knowledge about how to address issues in LMI communities.

The collaboration of Kellogg, JHLA, CDFIs, Chase, and major enterprise will enhance economic development in LMI communities which will increase employment while decreasing violence and related societal ills in the targeted (under-resourced) area neighborhoods.

The focus is on minority-owned businesses and businesses that employ a high percentage/number of residents from neighborhoods with lower employment. Primary target areas include Austin, Bronzeville, Englewood, Washington Park, and Woodlawn.
StatusFinished
Effective start/end date9/15/179/14/18

Funding

  • JPMorgan Chase Foundation (32877287)

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