Inclusive Innovation provides a competitive advantage for under-represented entrepreneurs and technologies. It allows for a once excluded population to create and benefit from affordable and sustainable opportunity. The impact of Inclusive Innovation is great not just for the under-represented demographic that it serves, but our entire ecosystem.
Inclusive Innovation By The Numbers
The Minority Business Development Agency (MBDA) has prioritized Inclusive Innovation through its initiatives. The need for Inclusive Innovation is demonstrated through the following statistics:
- The Information Technology and Innovation Foundation (ITIF) finds that only 12% of “U.S. innovators” are women, while only 8% are members of minority groups (including Asians, African Americans, Hispanics, Native Americans, and other ethnicities).
- From FY2000 to FY2012, Only 10% of SBIR/STTR Phase I recipients were Woman-Owned Small Businesses
- From FY2000 to FY2012 Only 7.2% of SBIR/STTR Phase I recipients were members of Minority Owned Small Businesses
- At the National Institute of Health (NIH) during FY2014, 3% of the applications to the SBIR programs were from minority-owned business; 13% of the applications were from woman-owned businesses.
The MBDA’s IICE Initiative
The MBDA’s Inclusive Innovation Commercialization and Entrepreneurship Initiative (IICE) is a national outreach effort to increase the participation of minority business enterprises (MBEs) and minority-serving institutions in the national federal laboratory network. IICE supports the MBDA’s mission by developing an innovative and effective approach to strategically engage MBEs and entrepreneurs to participate in the commercialization of technology innovation. Minority innovators and entrepreneurs that engage in technology commercialization have the potential to bring scientific discoveries to the marketplace by utilizing federal funds to support the creation of new products and technologies. The advancement of current federal technology transfer programs requires an effective and innovative approach to position MBEs to accelerate their technology commercialization efforts into new products and services for domestic and global markets.