First-of-its-kind organization will serve as a catalyst for change for minority businesses, and link regional nonprofits nationwide to resources and support
Deluxe Corporation Foundation today announced a $70,000 award to nonprofit Metropolitan Economic Development Association (MEDA) to help launch the BizGrow Network, the first national network of nonprofits that serves minority businesses.
"While there are other organizations across the country that do work similar to MEDA's, there is no unifying national association to enable sharing of best practices, information, and connections among us," said Yvonne Cheung Ho, president and chief executive officer of MEDA. "The BizGrow Network, with founding members that stretch from Seattle to Boston, will advance our work that champions entrepreneurs of color by improving the quality of information available and providing our clients with easier access to resources."
The Deluxe Foundation grant will enable BizGrow to design the technology infrastructure that will support its mission – "turning underserved to equally served." The BizGrow Network will also focus attention on attracting additional organizations to the network.
"The Deluxe Corporation Foundation is focused on long-term solutions that help people, businesses and communities thrive and grow," said Lee Schram, chief executive officer of Deluxe and president of the Deluxe Foundation. "This mission is reflected in our continued support of MEDA. We are very proud to be involved in the establishment of the BizGrow Network which has the potential to accelerate the growth of minority businesses on a national basis."
The Deluxe Foundation has been working with MEDA for the past 24 years, investing more than $300,000 in total. In 2010, the Deluxe Foundation made an initial grant of $17,400 to sponsor a conference in which minority business development nonprofits discussed the idea of establishing a national association. Out of that conference, the idea of the BizGrow Network was born.
About MEDA
Focusing on entrepreneurs of color since 1971, MEDA is a nonprofit, offering valuable business consulting and intensive training services to grow and strengthen businesses. In return these businesses create thriving local communities through job growth and a stronger tax base. MEDA focuses on long term consulting relationships which nurture entrepreneurs as they build futures for themselves, their families and their businesses. To date, MEDA has helped more than 18,000 entrepreneurs of color and started more than 450 small businesses. www.meda.net
About the Deluxe Corporation Foundation
Since its creation in 1952, the Deluxe Corporation Foundation has awarded more than $90 million to education, arts and human services programs. To learn more, visit http://www.deluxe.com/about-deluxe/foundation.jsp
Contacts:
H3O Communications for Deluxe
Sara Long, 415-618-8800
sara@h3ocommunications.com
