News Source: Black Chamber of Arizona

Program helps under-served entrepreneurs scale businesses, build capacity and fuel economic growth across the state

PHOENIX, Ariz., July 2, 2025 (SEND2PRESS NEWSWIRE) — The Black Chamber of Arizona, in partnership with the Millionaire Mastermind Academy, will kick off the third cohort of its signature Impact AZ 2025 business accelerator with a full-day launch event Tuesday, July 8, at the Better Business Bureau Innovation & Event Hub Center in Phoenix.

Image caption: January 2025 graduating Impact AZ class.

The nine-month program is designed to help small business owners scale, build operational capacity and access supplier diversity opportunities. This year, 23 diverse entrepreneurs will participate at no cost thanks to $100,000 in scholarships funded by corporate sponsors.

Bank of America serves as the title sponsor for the 2025 cohort. Additional sponsors include Bell Bank, Cox Communications, Aventiv Technologies, Blue Cross Blue Shield, National Bank of Arizona and the Hispanic Chamber of Commerce.

“It brings me great joy to continue this program and to thank Bank of America, our title sponsor, for making it possible,” said Dr. Velma Trayham, president and CEO of the Black Chamber of Arizona. “To see how quickly these entrepreneurs are growing—and to witness our alumni scaling their businesses—is phenomenal. We’re not just another accelerator. Impact AZ is purpose-driven, opportunity-focused, and committed to building capacity and economic resilience. These business owners are scaling their companies and fueling growth in communities statewide—a big win for Arizona.”

The kickoff event, which runs from 9 a.m. to 3 p.m., will feature keynote speakers, networking, live media opportunities and a program overview for participants. Speakers include:

• Christine Abdullah, senior vice president, preferred business, Bank of America
• Eduardo Borquez, director of business engagement, Better Business Bureau
• Shamia Lodge, director of community engagement, Aventiv Technologies
• Ryan Garlington, senior manager, customer success, Cox Communications
• Jay Gladney, certified mentor, SCORE Greater Phoenix Chapter
• Diane Roberts, program manager, Impact AZ
• Velma Trayham, president and CEO, Black Chamber of Arizona

Impact AZ 2025 serves a broad group of diverse business owners, including veterans, women-owned firms, justice-impacted entrepreneurs and businesses generating $100,000 or less in annual revenue. A key goal of the program is to help participants grow into employer firms—a critical driver of job creation and economic growth.

The program offers more than 40 courses, one-on-one mentorship and access to a proprietary mobile app, providing on-demand training in procurement, capital access, strategic planning and business scaling.

Since its inception in 2022, Impact AZ has graduated 75 entrepreneurs, many of whom have scaled into employer firms. Collectively, program alumni have generated more than $5 million in contract revenue. The program reports a 95% success rate among participants.

In recognition of its statewide impact, Arizona Gov. Katie Hobbs officially proclaimed Impact AZ 2025 the largest supplier diversity initiative in the state.

According to the U.S. Small Business Administration, small businesses make up 99.9% of all U.S. companies and nearly half of all private-sector jobs. Minority-owned businesses generate more than $1.4 trillion in annual revenue and support over 9 million jobs, yet many still face persistent barriers to capital and opportunity.

Impact AZ 2025 addresses these challenges by equipping underrepresented entrepreneurs with the tools, networks and resources to thrive.

About the Black Chamber of Arizona

For more than 26 years, the Black Chamber of Arizona has been dedicated to strengthening small businesses and producing new economic buying power to build resilient pathways for financial growth across the state. Through strategic initiatives focused on economic development, entrepreneurship, and workforce readiness, the Chamber is committed to fostering opportunities that drive long-term success.

Learn more: https://blackchamberaz.org/

About the Millionaire Mastermind Academy

The Millionaire Mastermind Academy is a national nonprofit dedicated to ending poverty through entrepreneurship. It empowers women and underserved communities by providing business training, mentorship and access to capital.

This press release was issued on behalf of the news source (Black Chamber of Arizona), who is solely responsible for its accuracy, by Send2Press Newswire.

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