Tampa, Fla. – The Tampa Bay Chamber proudly represented the region at the International Chamber of Commerce World Chambers Federation June 21-23 in Geneva, Switzerland. The Chamber’s Minority Business Accelerator was one of only four finalists in the global competition for Best Chamber Model of Innovation. Presenting before the international panel was Avril Stinson, Vice President of Economic Inclusion & Leadership Development at the Chamber. “It was a surreal experience. Describing our accelerator to that audience of people from around the world was an incredible moment made possible by the support we have back home,” explained Stinson. “Our MBA sponsors, mentors and advisors helped us grow this accelerator to reach the global stage. It’s just incredible!”
In 2017, the two-year emersion program became the first of its kind in the region because of its targeted curriculum for small business owners – companies with defined growth strategy and annual gross revenue of at least $500,000. These small businesses were falling through the cracks in an economic landscape where start-up companies had the benefit of existing accelerators.
Founding sponsors include Tampa General Hospital, TECO Energy, Valley Bank and the Vinik Family Foundation. Community Partners include CITI Bank, Coca Cola Beverages- Florida, Grow Financial Credit Union and Suncoast Credit Union, plus grant awards from Florida Business Development Corporation, Truist Foundation and the W.K. Kellogg Foundation. In the last three years alone, cohorts reported $30Million in annual gross sales, created more than 400 new jobs, and filled 440 vacancies. The annual time investment between mentees and their financial and business strategy mentors surpassed 700 hours.
The Chamber’s extensive economic study 2015 – 2017 lay the foundation for the accelerator program revealing that Black and Hispanic owned businesses accounted for only 5% of our local economy, even though minority owned businesses comprised 48% of our business community. “It was a disparity we couldn’t ignore, and accelerator sponsors became game-changers for us,” said Stinson. “They stepped forward to help us create access and equity and they’ve been on this journey with us every step of the way!”
Held every two years in various regions of the globe, the World Chambers Congress brings together chamber professionals representing more than 100 countries, hosting panels and the International Chamber of Commerce Competition to exchange ideas and best practices. Launched in 1999, the congress will be held in North America in 2025. The Tampa Bay Chamber was one of only 2 U.S. finalists to advance to this year’s competition in Switzerland. The Chamber’s accelerator was one of only 4 finalists for Best Chamber Model of Innovation project – won by the Ankara Chamber of Commerce in Turkey with it’s “ATONET Member Service Platform” with a focus on digital goals.
Learn more about the Tampa Bay Chamber’s Economic Inclusion programming.