Polsky Exchange and Women’s Business Development Center Partner to Empower Minority-Owned Businesses in Chicago
The Polsky Exchange will provide a number of resources for a Women’s Business Development Center-led program, including workshops led by Polsky Center staff, space to work, market research carried out by University of Chicago students, and more.
The Polsky Exchange has been awarded a contract through the Women’s Business Development Center (WBDC) in Chicago to support their recently awarded grant to lead the City of Chicago’s Supplier Development Program. The funding enables the Polsky Exchange to provide pivotal support to WBDC businesses, helping position them for long-term success and growth.
As part of this collaboration, the Polsky Exchange will deliver a suite of resources and services to businesses selected by the WBDC. Starting this month, the Exchange will host specialized workshops for WBDC cohorts, laying the foundation for further in-depth support. Following these workshops, University of Chicago students will engage in a series of market research projects tailored to the specific needs of these businesses. This research will be conducted in close collaboration with the business owners and under the supervision of experienced Polsky Center staff.
The market research will result in customized deliverables for each business, such as detailed industry outlooks and critical market data. These insights will be reviewed by Polsky Center staff who will also offer their real-world expertise to ensure the businesses receive actionable and strategic guidance.
Leveraging the Polsky Exchange’s extensive network throughout the city, these businesses will also have the opportunity to participate in various events, including meetings with local businesses, potential customers, city officials, and industry leaders. In addition, the Polsky Exchange will open its doors to WBDC businesses from Chicago’s South Side, providing them with access to its facilities.
The collaboration between the Polsky Exchange and the WBDC will lead to helpful tools and strategic insight for each business owner by the end of the year.
“At the Polsky Exchange, we are deeply committed to harnessing the University of Chicago’s resources and expertise to drive economic growth on the South and West sides and to empower entrepreneurs from all backgrounds,” said Abigail Ingram, Executive Director of the Polsky Exchange. “This partnership with the WBDC is a significant contribution to this mission, and we are honored to play a role in supporting these businesses.”
“The WBDC is excited that select businesses accepted into the Supplier Development Program will now have the opportunity to receive support from the Polsky Exchange,” said Emilia DiMenco, President and CEO of the WBDC. “The customized market research training and consulting services delivered by University of Chicago students and staff will help these business owners identify opportunities to generate growth and increase their capacity to become suppliers to the City of Chicago.”
About the Polsky Center for Entrepreneurship and Innovation
The Polsky Center for Entrepreneurship and Innovation advances innovative ideas and technologies from the University of Chicago ecosystem to the world. We are dedicated to supporting students, faculty, staff, and alumni, as well as other entrepreneurs and community-based small business owners in navigating the complex process of bringing new products, services, and research to market. For more information, visit polsky.uchicago.edu.
About The Women’s Business Development Center
The Women’s Business Development Center (WBDC) is a 501(c)(3) nationally recognized leader in the field of women’s economic development. The organization was founded in 1986 to provide programs and services to support and accelerate women’s business ownership and strengthen the impact of women on the economy by creating jobs, fueling economic growth, and building strong communities.