The Initiative for a Competitive Inner City (ICIC) is a partnership between FedEx Corp and Regions Bank in an effort to increase the presence of small businesses in Memphis, TN. The partnership has resulted in the creation of the Inner City Capital Connections (ICCC) program, which as been “described as a 40-hour MBA-like program that occurs over several months via an opening seminar, webinars and coaching. ICCC then culminates with a conference in New York City where small businesses can try to attract investors and capital — think television’s “Shark Tank.””
The program began in 2005, and since its inception has connected with more than 1,600 business owners creating nearly 16,000 jobs in the process. About $1.5 billion of capital has been raised in that time frame as well.
Small businesses located in Atlanta, Baltimore, Boston, Chicago, Los Angeles, Philadelphia, San Diego, Springfield, and Tampa Bay may apply at the link below.
The opening education seminar for this year’s Memphis program is scheduled for Thursday, August 23. The program is free, and applications are now open. The program is not for startups, but rather established businesses that are stuck.
In fiscal year 2016, FedEx purchased more than $9.2 billion from diverse suppliers, which represented a 37 percent increase from 2015.