August 31, 2018. Announced today, Interise is one of ten finalists in the competition for a $100,000 prize awarded to a nonprofit organization deemed by judges to be the most innovative in the country.
Small businesses are a major economic driver, employing over 56 million American workers. In particular, established, growth-oriented small businesses that are minority-owned and/or based in low- and moderate-income communities have the potential to drive economic revitalization through job creation, wealth generation, and community building. However, these businesses often face unique challenges; they are less likely to have access to capital, networks of technical experts, and contracting opportunities with anchor institutions, corporations, and government agencies.
Established Small Businesses Improve Outcomes Through Changes in Management Behavior | 10-Year Series
According to Intersise's 10-Year Report, companies that successfully completed a StreetWise 'MBA'™ program outperformed the private sector as a whole, consistently achieving net new job growth in both boom and lean economic years. Through an annual assessment, administered for three consecutive years following completion of the program, participants are asked to report on changes in their management behavior, and on business outcomes, over time. The data indicates links between certain qualities of management behavior and outcomes for established small businesses.
June 1, 2018. The Drucker Institute announced today that Interise is one of 50 semifinalists for the 2018 Drucker Prize. The semifinalists were selected from over 500 first-round applicants “based on their excellence in demonstrating Peter Drucker’s definition of innovation—change that creates a new dimension of performance,” according to a Drucker Institute press release.
These 50 nonprofits now qualify for The Drucker Prize’s second round, where their leaders will engage a series of short innovation learning modules. Produced especially for The Drucker Prize, these modules feature insights from some of today’s top thinkers on management and leadership, as well as the timeless wisdom of Peter Drucker. In Round 2, the semifinalists will be asked to articulate for the judges both their current innovation practices, as well as and how they might further leverage the disciplines of innovation to improve their organization’s results.
Interise's application highlighted Interise's partnership model, and the sustained growth of established small businesses that have completed a StreetWise 'MBA'™ program. Collected from 73 cities nationwide, program results show that Interise businesses consistently grow their revenues at rates that outperform the private sector as a whole. What's more, impressive job creation rates run across a decade of evaluation data. Historically, Interise businesses create jobs at 5x the rate of the private sector as a whole.
Small business owners in low- and moderate-income communities and/or from historically disadvantaged social and economic groups often lack the business knowledge and management know-how necessary for second-stage growth. Additionally, they are often excluded from the networks that comprise the larger business ecosystems, including financing and procurement. To catalyze a more inclusive and equitable small business ecosystem, Interise developed the StreetWise 'MBA'™.
According to Intersise's 10-Year Report, companies that successfully completed a StreetWise 'MBA'™ program outperformed the private sector as a whole, consistently achieving net new job growth in both boom and lean economic years. Even in the Great Recession, Interise businesses continued to create jobs.