Bridging the Gap

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Bridging the Gap
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What is Bridging the Gap?

• Bridging the Gap is a multi-faceted initiative
  to evolve the business culture of the Greater
  Baltimore region, helping to create a dramatic
  increase in the opportunities available to
  minority-run businesses to find new business,
  develop new capabilities and create legacy wealth.

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Components of Bridging the Gap

• 1. Educational
• 2. Mentoring/Instructional Programs/Services
• 3. Equity Formation/Legacy Wealth Creation
• 4. Analysis/Evaluation/Reporting

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Educational Components

• The Atlanta Experience - a multi-session review
  of the Greater Atlanta regions success in
  launching collaborative efforts that created
  unprecedented opportunities for minority firms

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Educational Components

• Industry-Specific Partnership Workshops -
  sessions to assist business leaders in developing
  diverse and non-traditional partnerships with all
  segments of the business community. The initial
  focus will be on four industry segments
• 1) Legal
• 2) Financial/Insurance Services
• 3) Construction
• 4) Information Technology

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Educational Components

• Recognition of Minority Business Success - awards
  dinner and program honoring successful
  minority-owned businesses and the work of the
  Development Credit Fund.

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Educational Components

• Minority Business Outreach - proactive efforts by
  the GBC and the Presidents Roundtable
• a) to contact minority companies poised for
  success and ready for immediate action and
• b) to reach out to minority companies requiring
  additional assistance in order to leverage key
  Bridging the Gap opportunities.

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Service Components

• Networking Techniques - a professional
  development program for minority business leaders
  on successful networking methods that turn
  relationships into new business opportunities
• Mentoring Program - an initiative to link
  promising minority business leaders with
  corporate executives who will make a personal
  commitment to provide input and support

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Service Components

• Insurance and Bonding - an initiative with
  insurance and bonding companies to ensure that
  minority businesses can secure required insurance
  coverage and bonding to participate as equity
  partners

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Equity Formation Components

• Minority Business Financing - leverage the
  Development Credit Fund to connect minority
  businesses with opportunities for affordable
  financing
• Entrepreneurial Opportunities - collaborative
  initiatives with institutions such as the UMBC
  Alex. Brown Center for Science and Technology
  Entrepreneurship to create opportunities for
  establishing or re-energizing minority businesses

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Equity Formation Components

• Bridging the Gap Executive Venture Fund -
  raising equity funds from leading Baltimore
  figures for angel investments in minority
  businesses and start-ups, with an initial focus
  on this programs four targeted industry
  segments
• a) Legal Services
• b) Financial/Insurance Services
• c) Construction
• d) Information Technology

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Analysis Components

• Inventory/Analysis of Corporate MBE Programs - a
  best practices analysis of what has worked with
  corporate MBE purchasing programs in Central
  Maryland
• Partnerships Best Practices Review - a review in
  the four targeted industry segments (Legal,
  Financial/Insurance Services, Construction, IT)
  of partnership initiatives that have worked
  effectively for all concerned