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Interise, Boston, MA

Gold Stevie Award Winner 2012, Click to Enter The 2014 American Business Awards

Company: Interise, Boston, MA
Company Division/Group: Version 2.0 Communications
Company Description: Interise is a national not-for-profit with a proven model for accelerating small business growth that leads to economic development, job creation and social resilience. Through its StreetWise ‘MBA’™ curriculum, Interise provide employers with the management knowledge, business know-how and networks necessary for established businesses in diverse and lower income communities to grow.
Nomination Category: Company / Organization Categories
Nomination Sub Category: Organization of the Year - Non-Profit or Government

Nomination Title: Interise

Tell the story about what this nominated organization has achieved since January 1, 2014 (up to 650 words). Focus on specific accomplishments, and relate these accomplishments to past performance or industry norms.

Interise is a Boston-based, national not-for-profit with a proven model for accelerating small business growth that stimulates the economy, job creation and social resilience. Since its inception in 2004, Interise has made significant impacts within small business communities; however 2014 was a breakthrough year for the organization.

Interise delivers StreetWise ‘MBA’™ directly to small business owners, as well as through its network of partners in state and local governments, ‘anchor’ institutions, minority business associations and community-based economic development organizations. StreetWise ‘MBA’™ provides established small business owners with the management knowledge, business know-how and networks necessary to grow.

In 2014, Interise partnered with eight additional networks throughout the country to deliver its curriculum to local small business owners to help them strengthen and grow their businesses. Interise has partnered with organizations across 28 states and 45 cities across the country. Most of that growth occurred in 2014, as the organization expanded to 26 states and 32 cities within the past year alone.

The nationwide presence of Interise’s StreetWise ‘MBA’™ has generated numerous opportunities for local and regional economies, from job creation to innovation. In 2014, an estimated 612 small business owners participated in StreetWise ‘MBA’™, a growth of 18% from the previous year. Interise companies historically create new jobs at 5x the rate of the private sector as a whole. Additionally, these successful small business owners are able to engage in other community leadership roles and act as advocates.

As a result of the program, small businesses have increased profitability, expanded capacity to retain and create local employment, and are better connected to other businesses, institutions and government at the local, regional and national level. For example, Maria Malloy, founder of Golden Cannoli Shells Company, Inc. and 2013 StreetWise ‘MBA’™ graduate, applied her learning to expand her business. She purchased 24,000 square feet of office space and hired 12 new employees to double her company’s capacity. The company saw 49% revenue growth in one year, and was awarded the Massachusetts 2014 SBA Small Business of the Year Award.

Furthermore, Interise has seen tremendous internal growth. After the Federal Reserve Bank of San Francisco published a whitepaper from Interise, the nonprofit opened a research department in 2014 for the purpose of sharing insights and knowledge about established small businesses, their owners and communities. Interise hired Nancy Lee to lead the department, where she focuses on providing qualitative and quantitative insight into the economic impact and potential of small businesses to improve lower-middle income communities.

Through its work and research on small business issues in underserved communities, Interise helps to influence and improve the small business sector. The new research department further enhances Interise’s annual Impact Report, a yearly study on the impact that StreetWise ‘MBA’™ has had on its small businesses and their communities. These business owners look for practical know-how from a trusted source, and they know they can trust the StreetWise ‘MBA’™.

As further testament to the company’s success, Interise added six employees, increasing its headcount to 22, and announced four new board members in 2014.This significant growth underscores Interise’s continued momentum and achievements. The help of these new hires and Board Members sets Interise up for terrific achievements in 2015, and has already spread the StreetWise ‘MBA’™ to six additional cities.

Using peer-based learning, the Interise program has proven, positive impact. StreetWise ‘MBA’™ has proven its scalability and is offered through partners across local, regional and national agencies, business associations, economic development organizations and anchor institutions. Some partners include Columbia Business School, NYU Stern School of Business, City of Houston, City of Portland (OR), Washington (DC), New York Minority Supplier Development Council, National Urban League of Chattanooga and Greater Dallas Hispanic Chamber of Commerce. Through these partnerships, Interise builds its partners capacity to serve and grow local small businesses within their communities. As Interise’s network of partners grows, so will its capacity to serve even more companies and communities.

In bullet-list form, briefly summarize up to ten (10) of the chief accomplishments of this organization since the beginning of 2014 (up to 150 words).

• Interise added eight new partnerships, increasing the StreetWise ‘MBA’™ presence
• The organization expanded the StreetWise ‘MBA’™ curriculum to 32 cities
• The organization expanded StreetWise ‘MBA’™ to 26 states
• An estimated 612 small business owners participated in the StreetWise ‘MBA’™ throughout the country, an 18% increase from 2013
• These small business owners who participated in the StreetWise ‘MBA’™ created new jobs at 5x the rate of the private sector as a whole
• Interise established a research department for the purpose of sharing insights and knowledge about established small businesses, their owners and communities
• The organization saw tremendous internal growth, as it added six employees and four new board members

Of the following measures of success, which ONE do you want the judges to most appreciate about your organization's story of achievement since the beginning of 2014?

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