Summer of Ascend: Markets, Management, and Money

(Pictured above: The annual national Ascend Conference was held July 11-12, 2023 at LMU.)

Small businesses contribute to their communities by generating jobs and stimulating the economy. When these businesses win lucrative contracts, they are able to grow, hire more employees, and invest in their communities. But, the public procurement process is often out of reach for minority- and women-owned small businesses. The Ascend program is working to change that.

Developed by the University of Washington Foster School of Business and led by LISC LA, Ascend LA is designed to equip local diverse-owned businesses with the knowledge, skills, and mindset to effectively compete for corporate and government contracts. The 12-session education program, which follows the 3M model: markets, management, and money, brings in esteemed faculty members of various disciplines from Loyola Marymount University (LMU) as well as industry experts in purchasing, contracting, and financing. The program is a proven success; in the last 3 years alone, Ascend LA has helped local, diverse businesses secure more than $53M in contracts.

Monique Jackson, fifth from left, received first place in the Ascend LA pitch competition

Last month, we convened program managers from all Ascend ecosystem cities, diverse entrepreneurs, capital providers, and business stakeholders for the annual national Ascend conference at LMU. Hosted by Ascend LA leadership in collaboration with the national team, the two-day event focused on sustaining and expanding Ascend’s impact through sessions on capital access, management education, and market access and sustainability.

Erick Castro, Ascend LA alum and owner of Kana Subsurface Engineering (KSE) Inc. closed the conference during an inspiring fireside chat. Through Ascend LA, Erick has secured multi-million-dollar contracts, allowing him to expand his business. Erick shared defining moments from his journey to becoming a successful business owner - from returning to civilian life as a decorated combat veteran to securing his first contract with the city of El Segundo.  Reflecting on what was the most beneficial part of the program, he shared, “We conducted a Strengths, Weaknesses, Opportunities, and Threats (SWOT) analysis in one of the sessions, where we looked at our revenue streams. The exercise helped me to see where we were profitable with the least risk. The program helped me understand where I should focus to grow the business.”

Following the conference, the 2023 Ascend LA cohort celebrated the successful culmination of the program. Forty stand-out construction and professional service businesses in Los Angeles County received one-on-one support for business development and capital access to accelerate their growth. Eight businesses won monetary awards in the pitch competition – with funding from TMobile – where they presented their SMARTER goals and plans to scale their businesses. The first, second, and third place winners were Monique Jackson, owner of L&F Project Management, Kenetia Lee, owner of PopUP CleanUP, and Juan Rangel, owner of Rangel Landscapes, Inc., respectively.

Ascend LA, led by LISC LA, is a partnership with LMU College of Business Administration and CMG Alliance. Ascend LA is made possible with support from JPMorgan Chase and Capital One. 

Learn more at www.ascendla.org.