Next Gen Supplier Diversity Program
The NextGen: Supplier Diversity Program
supports Gen Z and millennial minority entrepreneurs aged 18-38. It offers interactive curriculum and hands-on training with industry leaders, teaching business operations, decision-making, sustainable growth strategies, professional development, M/WBE certifications, and insights into supply chain, procurement, and vendor relationships.
Objectives
Focus
The core objective of the NextGen: Supplier Diversity Program is to assist emerging entrepreneurs of color in developing the necessary skills and knowledge to operate successful businesses. Our focus encompasses five key methods critical to a business’s success
01
Strategic Business
Operations
Equipping entrepreneurs with essential strategies for efficient and effective business operations, including financial management, supply chain management, and marketing.
02
Anticipating Organizational
Needs and Innovation
Encouraging forward-thinking and innovation by helping entrepreneurs anticipate the evolving needs of their organizations and execute innovative responses to meet these demands.
04
Supply Chain
Understanding
Providing insights into supply chain processes, procurement, and vendor relationships to facilitate informed decision-making and sustainable growth.
03
Professional
Development
Providing insights into supply chain processes, procurement, and vendor relationships to facilitate informed decision-making and sustainable growth.
05
Networking and
Relationship Building
Fostering connections and relationships with corporate sponsors, successful Minority Business Enterprises (MBEs), and other stakeholders, facilitating mentorship and collaboration.
Structured Curriculum
The program’s curriculum is meticulously designed, utilizing an interactive pre and post-conference structure. This curriculum is complemented by hands-on training and practical application, ensuring participants engage in a dynamic learning environment. The curriculum is structured into modules, each focusing on critical aspects of business operations, entrepreneurship, and sustainable growth.
Module 1: Fundamentals of Business Operations
- Financial Planning and Management
- Supply Chain Strategies
- Legal and Regulatory Compliance
Module 2: Innovation and Adaptability
- Market Analysis and Trends
- Organizational Resilience
- Technology Integration for Business Growth
Module 3: Professional Development and Leadership
- Effective Communication
- Conflict Resolution and Decision-Making
- Leadership and Team Building
Module 4: Supply Chain Dynamics
- Procurement Strategies
- Vendor Relationship Management
- Sustainable Supply Chain Practices
Module 5: Networking and Collaboration
- Stakeholder Engagement
- Industry Connections and Opportunities
- Mentorship and Guidance
Module 6: Case study Review
- Workforce Assessment
- Communication Evaluation
- Next Steps Goal Planning
Mentorship and Stakeholder Collaboration
Integral to the program’s success is the mentorship and collaboration with key stakeholders. Entrepreneurs will receive invaluable guidance from corporate sponsors, successful Minority Business Enterprises (MBEs), and other critical stakeholders in the business community. This mentorship will extend beyond the curriculum, providing personalized advice, insights, and resources to nurture these burgeoning businesses.
Access to
Industry
Leaders
Access to top business leaders and corporate executives is a vital aspect of the program. Participants will have the opportunity to learn from, interact with, and seek guidance from established professionals through:
- Networking Events:
- Panel Discussions and Workshops:
- One-on-One Mentorship:
Building
Generational
Wealth
A central focus of the program is to combat the racial wealth gap by empowering Gen Z and Millennial Minorities to build generational wealth. Historical and systemic barriers have perpetuated this gap, and this program aims to break that cycle by providing access to knowledge, opportunities, and investments that can create new avenues for wealth generation.
- Financial Literacy Workshops:
- Access to Investment Opportunities:
- Long-term Sustainability Strategies:
Industry
Engagement&
Procurement
Opportunities
Over the three-year period, the program aims to have a minimum of 50 millennial and Gen Z led businesses of color M/WBE certified and actively working towards securing procurement contract bids.
- Industry Exposure and Education
- Procurement Strategy Development
- Bidding and Contracting Support
Program Requirements:
- Ages 18-38 (as of the application deadline).
- United States citizen.
- Must be at least 51% minority-owned, managed, and controlled.
- Must be a for-profit enterprise and physically located in the U. S. or its territories.
- Suffolk County Resident.
- Management and daily operations must be exercised by the minority ownership member(s).
- Ownership, in the case of a publicly owned business, means that at least 51% of the stock is owned by one or more minority group members.