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May 18, 2022
 
Interise Gets $1M to Bolster Ability to Develop Quality Jobs
Interise

April 2, 2022 — Interise, a national nonprofit based in Boston that provides advice and training to BIPOC-owned small businesses and small businesses located in low- and moderate-income communities, on Thursday announced it received $1 million from the Bill & Melinda Gates Foundation to support job development.

Interise said the funds, which will support its Business Stronger initiative, will support capacity building for its work providing executive education for small business owners.

The project will unfold along a learning phase, a curriculum and resource development phase, and an implementation phase with a continuous monitoring, evaluation, and learning process to better understand the impact of programming on the small business ecosystem that leads to the creation of quality jobs.

“The needs of the small businesses we assist are always evolving, especially in these times, and this generous grant will allow us to expand and scale the scope of our work,” said Interise CEO Darrell Byers.

The organization the Business Stronger initiative will allow Interise to help constituent groups create and implement effective practices to boost economic mobility for business owners and their employees through the creation of quality jobs.

“Through this work, Interise will be able to offer feedback on systemic barriers to good job creation and potential constituent-led solutions that may encourage more successful uptake of effective practices,” the organization said.

Interise traces its origin to the formation of Inner City Entrepreneurs in 2004 in partnership with Boston University to provide educational and networking resources to minority and inner city business owners. Three years later, it rebranded to its current name. In 2008, it became the national training provider for the Small Business Association’s Emerging 200 initiative and has since expanded to 80 cites across the country.

To date, 552 Massachusetts companies have earned Streetwise ‘MBA’ certificates from Interise. According to its research, Interise companies in Massachusetts increased revenue by an average 23% and increased the number of full-time jobs by 40%.

For the year ending Dec. 31, 2019, Interise reported $4.7 million in revenue, of which $4.1 million came from contributions and grants, and $4.6 million in expenses, according to its most recently available federal financial information filing.

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