Organizer: JPMorgan Chase
According to Global Policy Solutions, if people of color owned businesses at the same rates as white entrepreneurs, it would result in 9 million more jobs and $300 billion in worker income. In 2015, JPMorgan Chase launched the Entrepreneurs of Color Fund (EOCF) to expand access to capital and business training, networking and services to underserved minority entrepreneurs. Initially launched in Detroit, EOCF has since expanded to Chicago, San Francisco, the South Bronx and most recently Greater Washington, D.C. To date, more than $17 million from JPMorgan Chase has attracted another $22 million in external capital, over 200 businesses have received assistance and 1,250 jobs at minority-owned small businesses have been preserved or created. With its expansion into the D.C. area, the EOCF model will support local partners to preserve and grow minority-owned businesses in commercial corridors, cultivate a new generation of minority housing developers and streamline anchor institution procurement. In this moderated discussion, learn more about the EOCF model, local collaboration, and commitment to communities of color.
Equitable Development –– Sponsored by ArtPlace America