The Initiative for a Competitive Inner City (ICIC), along-side FedEx Corporation, is proud to welcome the Inner City Capital Connections (ICCC) program to the Greater Memphis Area for the fourth year with a full-day Opening Seminar Thursday, August 22, at the FedEx Institute of Technology, convening over 60 business owners from economically underserved parts of the city.
FedEx is proud to continue its relationship with ICIC to bring the ICCC program to the Greater Memphis Area to support the growth of local, diverse business owners and drive economic prosperity across the city. Through this collaboration, they have trained close to 200 business owners who have averaged 156% growth in revenue, raised $3.9 million in capital (both debt and equity), and created 441 jobs.
ICCC is a tuition-free, executive leadership training program that positions inner-city businesses for long-term success. It is uniquely designed to provide three critical elements for sustainable growth: capacity-building education, one-on-one coaching, and connections to capital and capital providers.
The Opening Seminar will feature professors from top-flight business schools who will present lectures on strategy, marketing, talent management and entrepreneurial finance. The program will also host a panel discussion, “What Are Capital Providers Looking For?” featuring capital providers including Regions Bank, EDGE Memphis, and Pathway Lending to provide insights into the capital landscape and how participants can access those funds.
“We’re deeply grateful to FedEx for their unwavering commitment to inclusive economic prosperity and to building a sustainable small business ecosystem in Memphis,” Steve Grossman, CEO of ICIC says. “As a result of their generosity and leadership, almost 200 small businesses have participated and created more than 400 jobs for local residents.”
Implemented in 14 cities across the country, including Baltimore, Chicago, Philadelphia and St. Louis, ICCC supports small- and medium-sized business owners in building capacity for sustainable growth in revenue, profitability and employment.
About the Initiative for a Competitive Inner City
ICIC is a national, nonprofit research and advisory organization founded in 1994. Its mission is to drive economic prosperity in America’s inner cities through private sector investment. For more information about ICCC and their impact across the country, visit their website at iccapitalconnections.org.