Empowering Minority and Disadvantaged Businesses: Centrepolis Accelerator @ LTU's Partnership with MMSDC

At Centrepolis Accelerator @ LTU, we are committed to fostering innovation and growth among minority and disadvantaged businesses. Our work over the past 7 years of operation has been marked by significant achievements, driven by our dedication to supporting these hardtech manufacturing entrepreneurs through tailored assistance, resources, and strategic partnerships.

Centrepolis Accelerator offers a comprehensive suite of services designed to address the unique challenges faced by minority and disadvantaged entrepreneurs. These services include business strategy support, product development services, mentorship programs, access to funding opportunities, and specialized training workshops. By understanding the specific needs of each business, we can provide personalized assistance that helps them overcome obstacles and achieve sustainable growth.

Our support for minority-owned businesses has yielded impressive results over the past year alone. Here are some key metrics that highlight the impact of our efforts:

• Revenue Generated: $16,430,423
• Investment Secured: $10,313,408
• Jobs Created: 53
• Products Commercialized: 29
• Number of Contracts to MI Suppliers: 75
• Valuation of Contracts to MI Suppliers: $3,179,127

These numbers reflect the tangible benefits of our programs and the success of the businesses we support.

While Centrepolis Accelerator is at the forefront of providing direct support to minority businesses, our strategic partnerships enhance our ability to deliver results. Our collaboration with the Michigan Minority Supplier Development Council (MMSDC) is a prime example. MMSDC and Centrepolis executed a Memorandum of Understanding (MOU) in 2022 whereby Centrepolis committed to dedicating free and discounted services to help MMSDC members develop new physical products as well as helping their established manufacturers with operational efficiencies.  Recently, MMSDC and Centrepolis were awarded a Small Business Administration grant to help accelerator support for disadvantaged hardtech and manufacturing firms in Michigan.  By partnering with MMSDC, we extended our reach and resources, ensuring that minority entrepreneurs across the entire state have the unique hardtech services we provide including product design, engineering, prototyping, manufacturing preparation scaling and operational improvements.

As we move forward, Centrepolis Accelerator remains committed to empowering minority and disadvantaged businesses. We will continue to enhance our programs, forge strategic partnerships, and provide the resources necessary for these businesses to thrive. Our goal is to create an inclusive and supportive ecosystem that fosters innovation, growth, and economic prosperity for all.

Centrepolis Accelerator @ LTU is proud of the progress made in supporting minority-owned businesses. The metrics from the past year showcase the significant impact of our efforts. With continued dedication and strategic collaboration, we are confident that we will achieve even greater success in the future, driving innovation and growth for minority hardtech entrepreneurs across Michigan.