Interise Awarded $2 Million Unrestricted Grant to Fund Mission of Creating an Inclusive and Equitable American Economy

Interise has been awarded a $2 million grant from The Yield Giving Foundation. Established by Mackenzie Scott, the foundation, working with Lever for Change, opened applications for a $1 million grant—before doubling the award based on Interise’s potential impact.

“This is an opportune moment to accelerate and magnify Interise’s mission,” explained CEO Darrell Byers. “Historically, only 9.4% of eligible federal contracts have gone to minority-owned businesses even though almost 20% of businesses are minority-owned. As the federal ARPA and infrastructure bills are about to distribute $3 trillion to pay for new roads, EV charger stations, and more, we can use this grant to help minority entrepreneurs navigate the red tape and maze of federal contracting so they can share proportionally in this once-in-a-generation opportunity.”

Interise will use the grant to advance its ongoing research on small business growth, develop new teaching modules that help business owners address pressing challenges, partner with private corporations and nonprofit institutions that want to diversify their procurement processes, and engage civic and community organizations as hosts of Interise’s signature StreetWise MBA program—all in pursuit of its mission to create an inclusive economy for all.

Interise first delivered its targeted business education programs to entrepreneurs in Boston before expanding nationwide to 81 cities. Now in its 20th year, Interise boasts close to 10,000 alumni businesses and currently offers its programs in 25 states across the country. Interise alumni businesses grow their revenue at an average rate of 36% annually and create four times the number of jobs as comparable businesses.

From May 5-7, 2024, Interise alumni, partners, and other supporters will be attending the SolveIt Conference in Chicago, where they will participate in workshops to further their education, share new research, and celebrate two decades of successes.