We are thrilled to have Troy Duffie's leadership to bring the Initiative for Inclusive Entrepreneurship to the next level!
This has been one of the busiest seasons of my life in all aspects, but I’m incredibly grateful for the impact we’re driving Milken Institute. At the top of the list is some big news. In June, we announced at The White House and the U.S. Department of the Treasury that the Milken Institute became the home for the Initiative for Inclusive Entrepreneurship (IIE), a groundbreaking national effort to expand access to capital for small businesses owned by socially and economically disadvantaged individuals (SEDI). IIE harnesses the power of public-private collaboration to ensure the equitable implementation of the U.S. Department of the Treasury’s $10 billion State Small Business Credit Initiative(SSBCI), 40% of which is designated for businesses owned by socially and economically disadvantaged individuals (SEDI). This process was a months-long sprint that required late nights, lots of reading and an incredible deal team including Rachel Halfaker, Chelsea Wells, Jeff Valliere, and Mike Piwowar. We have some incredible partners and colleagues at Nowak Metro Finance Lab, IIE.VC, The Aspen Institute, Mission Driven Finance®, Founders First Capital Partners, Next Street, Scale Link, and JumpStart Inc. that led an incredible 18-month pilot led by Hyphen, resulting in $215 MM in deployed capital, reached 7,931 organizations, and provided 2,223 hours of technical training. Excited to share over the next few weeks what we’ve been working on over the last 8-9 months and catch up on what’s been a four-month hiatus from LinkedIn. More to come!