New Business Impact Network Brings Government Transparency
2023-12-03 – BE&O TWIB
A new effort to track and measure the bidding process for city-funded projects in Indianapolis is launching next year, and it could go a long way in supporting Black business owners.
Known as the Black Business Impact Network, the new software is being launched by the Indianapolis Office of Minority & Women Business Development (OMWBD), with help from InnoPower and funding from JP Morgan Chase Bank.
David Fredricks, Director of the OMWBD, says the new custom-made software will increase transparency regarding who is bidding on city projects and what percentage of those bids are being awarded to minority-owned contractors.
The platform is being developed by Indianapolis-based Metaimpact and is designed to create more bidding access for Black business owners. Fredricks says he hopes the platform will lead to more supplier diversity. He’s also excited about the platform’s ability to identify and measure metrics from city-funded projects.
The platform tool will allow the City of Indianapolis to measure the collective impact of the initiative and collect intelligence on gaps and opportunities. As the program grows, the OMWBD can add resources and adjust its strategy to provide more opportunities for Black-owned companies to participate in the bidding process. Fredricks says it’s a “win-win” for the business community and Indianapolis.
With a goal to launch on February 1st of next year, InnoPower CEO Emil Ekiyor says knowing the opportunity exists for Black-owned businesses is half the battle, and the new platform will go a long way in educating and keeping business owners informed while providing transparency.
SPONSORED BY: INNOPOWER