FOR IMMEDIATE RELEASE
August 1, 2024
MEDIA CONTACT
BLACK INNOVATION ALLIANCE NAMED STRATEGIC PARTNER OF THE GLOBAL DIVERSITY EXPORT INITIATIVE LED BY U.S. DEPARTMENT OF COMMERCE INTERNATIONAL TRADE ADMINISTRATION
New partnership will provide capacity building and connections for businesses to expand globally
(WASHINGTON) – August 1, 2024 – The Black Innovation Alliance (BIA), a coalition dedicated to closing the racial wealth gap, has entered into a strategic partnership with the U.S. Department of Commerce’s International Trade Administration (ITA).
As part of the partnership, BIA will engage its members in virtual education programming about international trade and exporting, the economic benefits of trade and enhance awareness of ITA and other U.S. government entities that provide export services to U.S. companies. The partnership supports a shared mission of empowering diverse owners to grow and scale their businesses by providing training and resources to succeed in global markets.
“We are excited for this partnership with the Black Innovation Alliance and their extensive network of over 175 member organizations supporting Black entrepreneurs to access business resources and opportunities,” said Arun Venkataraman, Assistant Secretary of Commerce for Global Markets. “At ITA, we’re constantly working not only to increase U.S. exports but also to expand the pool of exporters. This is why we are committed to helping Black-owned and other diverse businesses across the United States access opportunities in the global marketplace.”
Since its inception in 2020, BIA has pushed for full inclusion of Black people in the innovation economy and directed more than $1 million in grants and other financial support to its members.
“To build equitable economic growth and close the racial wealth gap, we must provide access to opportunities for businesses to expand globally during this decade of Black innovation and beyond,” said Dr. Kelly Burton, CEO of the Black Innovation Alliance. “This partnership will help open the doors of international trade and commerce for Black innovators who want to learn how to grow their business beyond domestic markets.”
Promotion of ITA programs and resources, including the Global Diversity Export Initiative (GDEI), will be a cornerstone of the partnership. The GDEI is committed to helping underserved communities in the United States, including small-, women-, veteran-, LGBTQI+-, disabled-, and minority-owned businesses.
BIA plans to develop trade mission opportunities, future webinars, organize networking events, as well as participate in the Congressional Black Caucus Foundation Annual Legislative Conference (ALC) which will be held September 11-15th. The ultimate goal is positioning entrepreneurs to take part in global trade to exponentially expand growth. Exports of goods and services from the U.S. totaled $3.1 trillion in 2023, up $35.0 billion from 2022, the highest on record.
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About Black Innovation Alliance
The Black Innovation Alliance (BIA) is a coalition of 175 member organizations closing the racial wealth gap by building pathways that provide equitable access to resources, knowledge, and opportunities to Black entrepreneurs, innovators, tech founders and creative technologists. For more information on the global work, visit https://blackinnovationalliance.com/b-global/.
About the International Trade Administration
The International Trade Administration (ITA) at the U.S. The Department of Commerce is the premier U.S. government resource for American companies competing in the global marketplace. Operating in more than 100 U.S. locations and 80 markets worldwide, ITA promotes trade and investment, assists U.S. businesses and workers to export and expand globally, and ensures fair trade and compliance by enforcing U.S. trade laws and agreements. For more information on ITA, visit trade.gov.
