Summer Newsletter 2007
NEWS
CCV's Chicago Minority Business Enterprise Center Recognized as Performance Leader
Real Latino Images Awarded Challenge Grant
Three Companies Successfully Complete Marketing & Customer Development Training
Innovation Challenge Matching Grant/SBIR Center
CCV, Chicago Minority Business Enterprise Center Welcomes New Staff Member
EVENTS
City Treasurer's FREE Small Business Expo - August 3rd at McCormick Place
Business Matchmaking - Midwestern Regional Event
21st Annual Entrepreneurial Woman's Conference - Sept 26 & 27
Hispanic Business Expo -- August 16, Navy Pier, Chicago
RESOURCES
Inner City Capital Connections Event in Chicago Seeks Companies
Investors' Circle Fall Conference & Venture Fair Seeks Companies
Online Tool Bridges Technology Gap for Women and Minority Business Owners
CCV's Chicago Minority Business Enterprise Center Recognized as Performance Leader
The Chicago Minority Business Enterprise Center (CMBEC), a partnership of Chicago Community Ventures and the Chicago Minority Business Development Council, was recently recognized with the National Outstanding Performance Leader Award for the 2006 Program Year by the U.S. Department of Commerce, Minority Business Development Agency (MBDA).
This award is given by the MBDA, the only federal agency created specifically to foster the establishment and growth of minority-owned businesses, to the Center that meets and exceeds all its required goals for the year. We are proud to report that the Chicago MBEC earned 112 points out of 100, earning it the award as the top performing Center in the country. Last year, the Chicago MBEC assisted minority-owned businesses in securing $35 million in contracts, $13 million of direct financing, and created and retained over 350 jobs.
Real Latino Images Awarded Challenge Grant
Real Latino Images, a web-based Hispanic cultural-content stock agency, is the most recent 
recipient of a Challenge Grant from the Chicago West Side Entrepreneurship Center based at CCV.
Real Latino has entered into an agreement with Getty One, a leading stock photography agency, to distribute its two Hispanic collections, Medio Images and Hola Images. The company will use the Challenge Grant to pay for upgrades to its web site that will allow it to charge customers based on different pricing models, one for its own images, and one for Getty's images, which are sold on a consignment model.
Real Latino looks forward to continued growth and is currently exploring a new line, Real Americas, which will feature Hispanics from across Latin America. The company also hopes to begin distributing its images abroad through partnerships with European companies similar to the one it has formed with Getty Images in the U.S.
Three Companies Successfully Complete Market and Customer Development Training
In June, Chicago Community Ventures successfully completed the inaugural session of its “New Market and Customer Development” course. A combination of one-on-one consulting and monthly classroom sessions, this course helps companies understand the basics of a marketing plan – what it is, why it is important, how it is used – and then create a customized plan and implementation strategy.
“Our goal was to help companies not only identify new market opportunities, but also help them capitalize on them,” said Doug Cannon, CCV Business Analyst. "So many companies see the value of having a marketing plan, but so few do it.”
"The program was very, very well done," said John Nachtrieb of Fotel, one of the program's participants. "The class got us organized, disciplined and focused. We accomplished what we set out to do by working our tails off and by executing a very tight plan. CCV can help you set a direction, get moving and grow your business.”
CCV will offer the next “How to Create a Marketing Plan” session in the fall and is currently accepting applicants. For more information, please contact Doug Cannon at dcannon@chiventures.org.
Innovation Challenge Matching Grant/SBIR Center
The Chicago West Side Entrepreneurship Center, a partnership of CCV and the University of Illinois at Chicago’s Institute of Entrepreneurial Studies and housed within CCV, has been designated by the Illinois Department of Commerce and Economic Opportunity (DCEO) as an approval agency for DCEO’s Innovation Challenge Matching Program. The grant pays for grant writing services for researchers and entrepreneurs applying for federal research SBIR/STTR funding. This will go hand-in-hand with both ongoing consulting services offered by the CWSEC along with UIC’s Technology Ventures Program, which has the task of commercializing technologies owned by the University and in assisting with research at the Chicago Technology Park and the Illinois Medical District.
CCV, Chicago Minority Business Enterprise Center Welcomes New Staff Member
The Chicago Minority Business Enterprise Center (CMBEC), a partnership program between Chicago Community Ventures (CCV) and the Chicago Minority Business Development Council 
(CMBDC) and Funded by the U.S. Department of Commerce, Minority Business Development Agency, is happy to announce that Gwen Jones has joined our staff as our new Procurement Analyst. In this position Gwen will focus on providing assistance with Bids, RFPs, contract financing and business development to MBEs in the Chicago market area.
Gwen brings a great deal of expertise in procurement, particularly in the bidding area. She has held previous positions as buyer, bid coordinator and supplier diversity coordinator for the Chicago area at BT Office Products/Corporate Express. Most recently Gwen held the position of business procurement consultant at Magnetic Office Products.
If you need assistance in preparing a bid, RFP or have questions about how to manage or finance your new contract, please contact Gwen at 312.755.2560 or e-mail her at gjones@cmbdc.org.
City Treasurer's FREE Small Business Expo - August 3rd at McCormick Place
The 2007 City Treasurer’s free Small Business Expo is only a week away! The Expo will be on Friday, August 3rd, at McCormick Place Lakeside. Anyone who has ever considered starting a business, or improving their business can network with nearly 200 exhibitors and 2000 attendees.
- Winners of the 2007 Business Plan Competition will be announced
- Free expert workshops on a variety of topics including: business plans, marketing, sales, finances.
- Free $8 lunch voucher
- Thousands of dollars in prizes will be given away
City Treasurer Stephanie D. Neely says, “Helping small businesses thrive in Chicago is a top priority of my office. About 92% of businesses in Chicago are small businesses, and we are proud to give Chicago entrepreneurs an opportunity to network with hundreds of experts, and attend free workshops. The move to McCormick Place gives us additional room to accommodate the growth of this annual event and the opportunity for the biggest and best Expo yet.”
Business Matchmaking - Midwestern Regional Event
The Business Matchmaking Midwestern Regional Face-to-Face Event will be hosted at McCormick Place located in Chicago, Illinois on Tuesday, August 28, 2007. Participating firms will receive advance education and tools to prepare for face-to-face meetings with buyers from federal, state and local government agencies and major corporations. The components of the Business Matchmaking Midwestern Regional in Chicago, IL are:
Participating small businesses must possess a D-U-N-S Number and be currently registered in the Central Contractor Registration (CCR) database in order to participate. Small business participants will be asked to verify this information at the time of registration.
Registration is based on availability. To register visit www.BusinessMatchmaking.com.
21st Annual Entrepreneurial Woman's Conference - Sept 26 & 27
The Women’s Business Development Center (WBDC) is pleased to announce the 21st Annual Entrepreneurial Woman’s Conference, to be held September 26 and 27, 2007 at Chicago’s Navy Pier. Conference highlights include:
- Women's Business & Buyers Mart - the nations oldest procurement fair for WBEs and the premier event for WBEs in the Midwest
- Corporate Connections - one-on-one meetings between certified WBEs and corporate buyers
- Woman-to-woman Power Mentoring Breakfast
- 21st Annual Hall of Fame Awards Luncheon
- Workshop/Panel Discussions - addressing current trends & issues affecting women business owners - an much, much more!
For a complete Schedule of Events or to register please visit www.wbdc.org. Cost to attend is $200 for the entire 2 day event.
Hispanic Business Expo -- August 16, Navy Pier, Chicago
Make the Connection! Hispanic Business Expo is the premier Hispanic Business Event in the entire Midwest and one of the largest events for Hispanic businesses in the country. This one-day event is intended to help expose existing Hispanic businesses to decision-makers in the public and private sector. Also the Hispanic Business Expo is host to numerous educational workshops geared at helping expand business capacity.
To register or for more information, go to http://ihccbusiness.net/expo/index.html.
Inner City Capital Connections Event in Chicago Seeks Companies
Inner City Capital Connections (ICCC) is a national program designed to stimulate equity capital flow to underserved markets, by coaching inner city businesses and matching them with investors. ICCC is a joint project of Inner City Economic Forum and Banc of America Capital Access Funds. ICCC training partners are SJF Advisory Services and Pacific Community Ventures.
Three successful ICCC events have already occurred: ICCC Los Angeles 2005, ICCC New York, 2006, and ICCC Miami 2006. The next ICCC will be held in Chicago the first week of November 2007. ICCC Chicago 2007 will identify and prepare a select group of 75 inner city entrepreneurs from across the country interested in an educational and networking opportunity with equity capital investors. Companies selected to participate at the November 8, 2007 ICCC speed dating event will also attend either of two free one-day coaching sessions: September 27th in Chicago, IL or October 11th in Oakland, CA.
ICCC seeks growth-oriented companies with a proven track record and revenues of at least $2 million that are headquartered or have substantial operations in economically distressed urban areas in the U.S. To receive an ICCC Chicago 2007 Company Application, please visit www.icic.org or contact Juan Garcia-Alvarez by e-mail at jgarcia@icic.org, or by phone at 617.292.2374.
Investors' Circle Fall Conference & Venture Fair Seeks Companies
The Investors' Circle Fall Conference & Venture Fair will take place November 14-16 2007 at the Boston Harbor Hotel in Boston. The deadline for companies to present at the 2007 Fall Venture Fair is August 10, 2007. Investors' Circle is seeking submissions from companies in the energy & environment, food & organics, health & wellness, education & media, and community & international development sectors. The Investors' Circle 2007 Fall Conference is a premier meeting place for angel investors, professional venture capitalists, philanthropic investors, and entrepreneurs who are using private capital to promote the transition to a sustainable future. See www.investorscircle.net for more information and to apply.
Online Tool Bridges Technology Gap for Women and Minority Business Owners
The Information Technology Association of America (ITAA) and the Technology Partnership for Small Business Task Force co-founders - Microsoft Corp., Cisco Systems, Inc., and AT&T - under the guidance of the Minority Business Development Agency (MBDA), recently launched a new online tool, Biz Tech-Connect.
Biz Tech-Connect (www.biztechconnect.com) is a small-business Web portal that provides free online technology training geared towards women and minority entrepreneurs nationwide. Content, features and links on Biz Tech-Connect provide users with up-to-the-minute business news through Small Business TV (provided by AT&T), free instructional Web-based seminars, video training courses hosted by business experts, and information on managing and growing a small business. Business owners can also submit questions to and receive answers from member companies.
Microsoft convened the Task Force, now administered by ITAA, in response to an Urban Institute study that revealed that many women and minority business owners were not maximizing their earning potential by better utilizing technology. The study also projected that the U.S. economy could capture up to $200 billion in additional revenue if technology use increased among minority- and women-owned enterprises.
Additional information about the Task Force and the Biz Tech-Connect seminars is available at www.biztechconnect.com.
| Board of Directors | Staff | |
| President | Co-Presidents | |
| Derrick Collins Kellogg School of Management | Susan Alnaqib & Anita Hollins | |
| Vice-President | Gail Bell | |
| Steve Lawrence Attorney-at-Law | Hussain Bhanpuri | |
| Secretary & Treasurer |
Hans Bonner | |
| Torrence Moore LaSalle Bank | Manjima Bose | |
| Leon Jackson Bill's Shade & Blind Service | Doug Cannon | |
| Joseph Kennedy Harris Bank | Wil Martin | |
| Kimberly Magazine Magazine Professional Services | Dominic Melone | |
| Clifford Perry Fifth Third Bank | Mwikali Munyao | |
| Kimberly Richardson Westside Business Improvement Assoc | Diane Rodak-Salinas | |
| Jeffery Roberts JB Roberts Insurance/Allstate | Bryan Stubbs | |
Funding Partners
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Minority Business Development Agency, U.S. Department of Commerce |  |
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Jacob G. Schmidlapp Trusts, Fifth Third Bank Trustee |  |
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| CNA Foundation | U.S. Bank | Drinker Biddle Gardner Carton |