The University of Illinois System on Friday launched its new Diverse Supplier Development Program, welcoming the inaugural cohort of 25 firms from across the state. The program was created to help business owners from diverse backgrounds grow their companies and increase options for serving as public-sector vendors.
Through this program, small-business owners will partner with the University of Illinois System’s student consulting teams to solve business challenges and build their talent pipelines. These company leaders also will have access to educational workshops during the nine-month program.
“Every day, our vast network of diverse suppliers helps the University of Illinois System fulfill its educational, research and outreach missions,” U of I System President Tim Killeen said. “Through the Diverse Supplier Development Program, the U of I System is giving back to these businesses by helping remove some of the barriers to growth that many diverse businesses face. That will, in turn, benefit each community that these businesses call home and promote inclusive growth throughout Illinois.”
Student consulting projects will be managed by teams from across the University of Illinois System, including the Magelli Office of Experiential Learning and Illinois Business Consulting from the Gies College of Business and the Brand Hub from the College of Media at the University of Illinois Urbana-Champaign, as well as project teams from the University of Illinois Chicago. The workshops will feature experts from across the U of I System and partners that include Chase for Business and the Illinois Procurement Technical Assistance Center.
“The Diverse Supplier Development Program is another example of the University of Illinois’ commitment to our state,” U of I System Vice President for Economic Development Jay Walsh said. “I welcome these companies as they come alongside us in this unique program that will enrich us all. And I look forward to the program’s bright future as we seek to serve more companies, engage more experts and involve a broader range of our brilliant student teams.”
Companies participating in the program come from a variety of sectors including construction, information technology, consulting, retail and marketing. Nearly 90 percent of the participating firms are Black- or Hispanic-owned businesses, while 40 percent of the firms are majority-owned, managed and controlled by women.
Killeen was joined in welcoming participants at a virtual kickoff event by Illinois Speaker of the House of Representatives Chris Welch, state Rep. Carol Ammons, U.S. Small Business Administration Regional Administrator Geri Aglipay, Illinois Department of Commerce and Economic Opportunity Director Sylvia Garcia, Illinois State Black Chamber of Commerce President/CEO Larry Ivory, and Chase for Business Vice President and Senior Business Consultant for the Minority Entrepreneur Initiative Pamela Randle.
“We are incredibly grateful for the overwhelming support we have received from community, government and business leaders as our team has built this program,” said Aaron Carter, U of I System assistant vice president of procurement services. “We have a responsibility to build and develop partnerships, business opportunities, and our communities. The value of this program is apparent by who is here today.”
The U of I System accounts for 90 percent of the total dollars spent with minority- and women-owned businesses among all Illinois public universities. Over the last three years, the U of I System has invested more than $85 million annually on goods and services with diverse businesses. The system also is the state’s fifth-largest state-government customer for diverse vendors.
