‘InnerCity Entrepreneurs’ Named 2008 New England Innovation Award Winner
First ever winner in SBANE’s new nonprofit business category
InnerCity Entrepreneurs (I.C.E.), a Boston-based nonprofit that supports the growth of established small businesses in low-income communities, was named a winner of the first-ever Smaller Business Association of New England’s (SBANE) 2008 Innovation Award for nonprofits.
"Some of today’s most effective nonprofits are using frameworks and lessons from the private sector, so it makes sense that SBANE is recognizing social enterprises as part of their annual awards," said Andrew Wolk, founder of InnerCity Entrepreneurs and founder and CEO of Root Cause, a nonprofit organization dedicated to advancing solutions to social and economic problems by educating donors and building strong social innovators like I.C.E.
The SBANE Innovation Awards recognize small businesses in New England that offer a valued, innovative service to customers. Notable past winners of the award include Staples, Ben & Jerry’s, Genzyme, Nantucket Nectars, Zipcar, and iRobot.
SBANE Innovation Award finalists must meet a number of requirements before being considered for the award, including the basic requisite that the business be small — generating no more than $100 million in revenue — as well as prove itself an innovative contributor to its field.
"While profitability is not a requirement," states the SBANE web site, "our panel of judges weigh heavily on those businesses that have demonstrated the validity of their innovation through bottom line results."
I.C.E. strives to increase the number of small business owners operating in New England’s cities who have access to valuable business training at a reasonable cost. The training, in turn, helps them grow their businesses, create new jobs, and promote further economic growth in their communities. Since its inception in 2004, I.C.E. has graduated 55 entrepreneurs in Boston and Worcester, and looks to expand its program to Lowell in 2009.
"I.C.E.’s innovation is to grow jobs the old-fashioned way…by supporting urban small businesses that have a proven track record of success," said Chris Gabrieli, Chairman of Massachusetts 2020. "I support I.C.E. because their innovative program contributes to the economic and social health of large and small cities across New England by stimulating job creation, wealth generation, and community development."
I.C.E. is a social enterprise of Root Cause, a nonprofit organization dedicated to advancing solutions to social and economic problems by educating donors, encouraging innovation and building social entrepreneurship programs like I.C.E. in the Boston area and beyond. I.C.E. offers access to the Private Sector Network, linking local small business owners to over 60 experts in such fields as accounting, banking, finance, business strategy, human resources and public relations.
I.C.E. receives generous support from: Citizens Bank, Chris Gabrieli and Josh Tolkoff, Smith Family Foundation, the Massachusetts Office of Business and Technology, Mabel Louise Riley Foundation, State Street Foundation, The Boston Foundation, Staples Foundation for Learning, The Bank of New York Mellon, Boston Private Bank & Trust Company, Bob’s Discount Furniture, City of Boston, Sapers & Wallack Inc., and Vitale, Caturano, & Company.
