Impact Hub Houston Announces 6th Anniversary Celebration and Public Launch of the Groundbreaking MBDA Capital Readiness Program “Greater Houston Support Stack” Consortium
FOR IMMEDIATE RELEASE
HOUSTON, TX – Impact Hub Houston, a leading organization dedicated to accelerating equitable entrepreneurship and innovation ecosystems, is thrilled to invite all entrepreneurs and business ecosystem stakeholders to its 6th Anniversary Celebration on Friday, October 11, at its new home in the Esperson Building in Downtown Houston, for the public launch of the Greater Houston Support Stack, an initiative founded thanks to the support of the U.S. Department of Treasury and MBDA Capital Readiness Program (CRP) award. Impact Hub Houston was one of only two organizations in the state of Texas and 43 nationwide to win the award, which marked a milestone for MBDA following the agency’s enactment as a permanent Federal Agency through the Bipartisan Infrastructure Law. “The Capital Readiness Program marks the largest investment to support underserved entrepreneurs and businesses in Commerce Department history,” said U.S. Secretary of Commerce Gina Raimondo.
Grace Rodriguez, Co-Founder and Executive Director of Impact Hub Houston, stated, “We and our Support Stack partners — Houston Minority Supplier Development Council (HMSDC), Houston Area Urban League, Houston Business Development, Inc. (HBDI), United4Change Center, Goodspero, and The Pivot Partner — were thrilled to receive this award from the MBDA to launch the Greater Houston Support Stack, and we’re even more excited to publicly share its success and momentum for coordinated support for our region’s entrepreneurs. This initiative represents a paradigm shift in how we collaborate as a true ecosystem to help underserved entrepreneurs navigate our region’s resources and opportunities. Thanks to the MBDA grant and the dedication of our partners, the Support Stack is helping businesses build the capacity, contacts, contracts, and capital to thrive, making a significant impact on the lives, families, and communities of thousands of people in the Greater Houston area.”
“Our approach to minority business growth and development means working closely with our strategic partner organizations to leverage our collective resources to create a one-stop-shop for our small businesses. This ensures that diverse-owned companies have access to the abundant resources we provide and the services offered by our partners.”, said Ingrid Robinson, HMSDC President & CEO.
“Impact Hub Houston is a driving force in fostering innovation and entrepreneurial growth throughout our vibrant city. Its visionary leadership is creating new opportunities for all, and United4Change Center (U4C) is proud to collaborate with such a dynamic organization and the entire Support Stack network. Together, we are empowering Hispanic women entrepreneurs and expanding access to economic opportunities for Houston’s growing and diverse population. Our partnership is essential to advancing our shared mission of building resilience and prosperity in our community” said Ximena Murillo, CEO of United4Change Center.
Inspired by the concept of a “tech stack” upon which startups build their solutions, the Greater Houston Support Stack provides a strong foundation for entrepreneurs to grow their businesses. Its network of entrepreneur and business support organizations, incubators, accelerators, Community Development Financial Institutions (CDFIs), minority-serving institutions (MSIs), and economic development groups leverage their unique expertise to provide a coordinated strategy, clear structure, and comprehensive suite of programs, services, and support, featuring:
- Proactive knowledge and “best practice” sharing
- Needs assessment
- Stage-relevant programs and services
- Timely referrals
- Collective progress monitoring
With this approach, the Greater Houston Support Stack has demonstrated a significant impact in Year 1 of the MBDA Capital Readiness Program:
- Over 3,000 individuals have connected and built their professional networks
- 406 entrepreneurs have graduated from acceleration and training programs
- 159 entrepreneurs have pitched to capital providers and enterprise customers
- 74 businesses have received over $46,321,000 in non-dilutive capital and contracts
“These results underscore the power of collaboration and targeted support for underserved entrepreneurs,” Rodriguez added. “We’re excited to build on this momentum and continue expanding our reach and impact.”
Jessica Bolaños, CEO at Goodspero, the Support Stack Storytelling Partner, adds: “It’s inspiring to capture the transformational work of Impact Hub Houston and the Support Stack, while highlighting the journeys of diverse entrepreneurs in Greater Houston. With around 20% of U.S. small businesses failing in the first year and 50% by the fifth, Houston entrepreneurs face similar challenges, including access to capital and competition. Our goal is to showcase the resilience, support, and resources driving their success.”
By August 2027, the Greater Houston Support Stack is projected to help over 8,000 entrepreneurs across Greater Houston, Harris County, Fort Bend County, and surrounding rural communities to build capacity, networks, and capital so they can grow and access the State Small Business Credit Initiative (SSBCI) and other federal programs and funding opportunities that facilitate scaling.
Join the Support Stack
Entrepreneurs, innovators, and business ecosystem stakeholders may register at https://mpacthubhouston.eventbrite.com to attend the celebration, launch, and future events.
Eligible innovators, entrepreneurs, and business owners are invited to apply for Support Stack assistance and programs at https://bit.ly/supportstackintakeform.
Entrepreneur support organizations interested in joining the Support Stack and receiving referrals, or those seeking more information about the program or Impact Hub Houston, please contact Grace Rodriguez at [email protected].
About Impact Hub Houston, MBDA, and HMSDC
Impact Hub Houston is a nonprofit organization dedicated to inspiring, connecting, and empowering diverse entrepreneurs and impact ventures. As part of a global network of over 120 Impact Hubs in 68 countries across six continents, Impact Hub Houston catalyzes innovative solutions, equitable entrepreneurship, and transformational ecosystem development for a more just and sustainable world.
The Minority Business Development Agency (MBDA) promotes the growth and global competitiveness of Minority Business Enterprises (MBE) in order to unlock the country’s full economic potential. The Minority Business Development Agency (MBDA) traces its origins back to March 5, 1969, when President Richard M. Nixon established it as the Office of Minority Business Enterprise. MBDA’s Capital Readiness Program (CRP) is funded by the Department of Treasury’s State Small Business Credit Initiative (SSBCI) and was reauthorized under the American Rescue Plan Act of 2021. CRP is a $125 million technical assistance program to help minority and other underserved entrepreneurs grow and scale their businesses.The launch of the Capital Readiness Program marks a monumental milestone for MBDA, following the Agency’s enactment as a permanent Federal Agency in November 2021 as part of President Biden’s Bipartisan Infrastructure Law.
Houston Minority Supplier Development Council (HMSDC) is part of a national network of 23 regional councils representing over 17,000 minority-owned businesses and over 900 Major Corporations, including most Fortune 500 companies. HMSDC actively involves its members in efforts to increase and expand business opportunities and business growth for Minority Business Enterprises (MBEs) and to drive excellence in supplier diversity and supplier development. HMSDC provides minority entrepreneurs the chance to connect with many of America’s largest public institutions and private sector companies. Learn More
Contact: Grace Rodriguez, CEO/Executive Director of Impact Hub Houston
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