Collaboration with the Georgia Minority Business Development Agency Business Center at Georgia Tech supports diversity and inclusion in entrepreneurship
WASHINGTON — Siemens USA today announced it will award $140,000 in grants to small, Black-owned businesses for the second consecutive year to support diversity, equity and inclusion in business development and entrepreneurship.
Siemens and the Georgia MBDA Business Center at Georgia Tech will select the winning recipient businesses in seven U.S. cities where Siemens has a significant footprint: Atlanta, Boston, Buffalo, Dallas, Detroit, Miami, and Sacramento. These grants, now totaling $280,000 over the past two years, contribute to Siemens USA’s annual investment of nearly $1 billion in small and diverse-owned businesses that comprise nearly a quarter of the company’s entire supplier base.
“At Siemens, we’ve made it a priority to do our part to help build a more resilient America, one that’s more equitable and inclusive,” said Nichelle Grant, head of Diversity, Equity, and Inclusion, Siemens USA. “This is why we want to make significant investments, such as this one, in businesses owned by women, people of color, veterans, and people with disabilities, among other diverse owners.”
The national network of 60-plus MBDA Business Centers and special projects — including the one housed at Georgia Tech — is funded by the U.S. Department of Commerce’s Minority Business Development Agency.
The MBDA Business Centers will nominate up to five finalist businesses for the grants in each city based on criteria that aligns with industry demand, including preventative and predictive maintenance, fire and security, electrical, construction, and facilities and project management. The Georgia MBDA Business Center at Georgia Tech will evaluate and select the winning recipient in each city. The winners will be announced in late February 2022, and each will receive a $20,000 grant.
“As we work to build and strengthen America’s economic resiliency, it’s critical that all sectors of the economy share in that,” said Donna Ennis, director of the Georgia MBDA Business Center. “Collaborative initiatives such as this effort with Siemens helps us achieve that mission.”
A 2021 White House Council of Economic Advisers report shows “differences in business ownership account for 20 percent of the wealth gap between average white and Black households.” In response to this analysis, President Biden recently announced a goal of increasing the share of contracts going to small and disadvantaged businesses by 50 percent by 2025. Grants such as these will help contribute to the administration’s goal of increasing opportunity for all underserved businesses.
“In order to remain resilient as a company, we must be diverse and equitable, which requires us to proactively help to close the representation gap in the supply chain,” said Patric Stadtfeld, head of Supply Chain Management for the Americas, Siemens USA. “We’re proud of our growing supplier database of more than 3,700 small and diverse businesses and will continue to support business development in underserved communities and cities across the country.”
Siemens USA is committed to giving businesses owned by minorities, women, the disadvantaged, the disabled, veterans, and other diverse suppliers maximum opportunity to participate in its competitive contracting and procurement processes. Supplier diversity contributes to excellence in the supply chain, leading to growth for Siemens and its suppliers in the marketplace, as well as helping to create social impacts on the changing demographic landscape of the United States. To learn more about Siemens USA’s Supplier Diversity Program, visit here.
Learn more about Siemens USA’s commitment to diversity, equity, and inclusion at usa.siemens.com/diversity.
About Siemens Corp.
Siemens Corp. is a U.S. subsidiary of Siemens AG, a global technology powerhouse that has stood for engineering excellence, innovation, quality, reliability, and internationality for more than 170 years. Active around the world, the company focuses on intelligent infrastructure for buildings and distributed energy systems and on automation and digitalization in the process and manufacturing industries. Siemens brings together the digital and physical worlds to benefit customers and society. Through Mobility, a leading supplier of intelligent mobility solutions for rail and road transport, Siemens is helping to shape the world market for passenger and freight services. Via its majority stake in the publicly listed company Siemens Healthineers, Siemens is also a world-leading supplier of medical technology and digital health services. In addition, Siemens holds a minority stake in Siemens Energy, a global leader in the transmission and generation of electrical power that has been listed on the stock exchange since Sept. 28, 2020. In fiscal 2020, Siemens Group USA generated revenue of $17 billion and employs approximately 40,000 people serving customers in all 50 states and Puerto Rico.
About the Minority Business Development Agency
The U.S. Department of Commerce’s Minority Business Development Agency (MBDA) is the only federal program solely dedicated to the growth and global competitiveness of minority business enterprises. MBDA invests in a national network of more than 60 business centers, specialty centers, and grantees. Our programs offer customized business development and industry-focused services to provide greater access to capital, contracts, and markets. With a vision of economic prosperity for all American business enterprises, MBDA programs, services, and initiatives focus on helping MBEs grow today, while preparing them to meet the industry needs of tomorrow. To learn more about the MBDA and its business center network, visit www.mbda.gov.
About the Georgia MBDA Business Center
As part of a national network of 60-plus centers, the Georgia MBDA Center helps minority business enterprises (MBEs) access capital, increase profitability, scale, and grow their businesses. Funded by the U.S. Department of Commerce, the Georgia MBDA Business Center is a program of Georgia Tech’s Enterprise Innovation Institute, the nation’s largest and most comprehensive university-based program of business and industry assistance, technology commercialization, and economic development. To learn more, please visit: georgiambdabusinesscenter.org.