MBDA’s Eric Morrissette Launches MBDA’s Innovation Lab to Empower Minority Business Enterprises

/EIN News/ -- WASHINGTON, DC, Jan. 17, 2025 (GLOBE NEWSWIRE) -- In his final act, the outgoing Head of MBDA, Eric Morrissette, unveiled the Minority Business Development Agency’s (MBDA) Innovation Lab, a transformative series of initiatives designed to harness technology and innovation in support of minority business enterprises (MBEs). 

The Innovation Lab aims to equip MBEs with cutting-edge tools and resources to foster business growth, drive innovation, and close opportunity gaps more effectively. By leveraging emerging technologies and strategic collaborations, the initiative underscores MBDA’s commitment to advancing equity and economic prosperity within the minority business ecosystem. 

"These initiatives represent a bold step forward in leveling the playing field for minority-owned businesses," said Eric Morrissette, performing the non-exclusive duties of the Under Secretary for Minority Business Development. "The Innovation Lab is not just about technology—it's about ensuring that minority business enterprises have the resources and support needed to thrive in a competitive marketplace and uneven playing field." 

MBDA - DoD Lynx Platform  
MBDA and the Department of Defense have signed a historic Interagency Agreement to create a new online tool that will help MBEs more easily find and navigate opportunities to work with the federal government. This tool will:

• Support MBEs: Help MBEs create profiles highlighting their company’s capabilities and match them with tailored opportunities, resources, and guides on doing business with agencies like the Department of Defense (DoD), Department of Commerce (DOC) and many others.  
• Simplify Procurement: Show MBEs where to find government contracts and guide them on cybersecurity requirements, which are often complex. 
• Leverage Technology: Use cutting-edge tools to offer personalized “journey maps” showing MBEs the steps to engage with federal procurement and local resources along with how they can evolve their business to capture increasingly larger opportunities. 

By funding this platform with DoD, MBDA aims to simplify the federal contracting process for MBEs, giving them better tools and guidance to succeed.  

Business Matching and Training Platform  
MBDA is seeking to revolutionize support for MBEs with a platform designed to foster connectivity, collaboration, and growth while improving the quality of their network. Key features include:

• 24/7 Ecosystem Access: An inclusive digital space for MBEs to network, share best practices, and explore teaming opportunities within the MBDA ecosystem. 
• Comprehensive Training: Resources for MBDA centers to enhance their service delivery through virtual, hybrid, and in-person training modules. 
• Business Matchmaking & Compatibility Scoring: Advanced tools to connect MBEs with opportunities, including algorithmic scoring to assess procurement readiness and requirements. 
• Event Enablement: Tools to support MBDA centers in hosting dynamic events, from business matchmaking to tailored 1:1 sessions, across various formats. 
• MBDA Online Connector: A robust platform enabling MBEs to access resources, engage in matchmaking, and participate in hybrid and virtual activities.  

This initiative underscores MBDA’s commitment to equipping MBEs with innovative resources to expand their networks, seize business opportunities, and thrive in competitive markets. 

MBDA Translation 
In October 2024, MBDA published and distributed its first translated outreach documents during the National Minority Enterprise Development (MED) Week conference. Materials about the Agency and the Capital Readiness Program were translated in the five most commonly spoken languages in the United States other than English: Spanish, French, Chinese, Tagalog, and Vietnamese. MBDA will be translating its educational materials into these five languages and has secured an external translation tool to convert most of its online resources, materials and communications into these five languages within the next three months.  

About the Minority Business Development Agency (MBDA)  
The U.S. Department of Commerce, Minority Business Development Agency is the only Federal agency dedicated to the growth and global competitiveness of U.S. minority business enterprises (MBEs). For more than 50 years, MBDA’s programs and services have better equipped MBEs to create jobs, build scale and capacity, increase revenues, and expand regionally, nationally, and internationally. 

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Gabriel Cushing
                    Minority Business Development Agency (MBDA)
                    gcushing@mbda.gov