While it’s still too early to assess the long-term impact of the crises on our communities, the events of 2020 have deeply underscored what we have always known: the American economy does not work for everyone.
Investing in underestimated small businesses is a key step in transforming our economy into one that works for all. And it’s effective:
As the shelter-in-place orders began to roll out last spring, we braced ourselves for the worst: Roughly half of all small businesses fail after five years, and that’s without a global pandemic factored in.
But our companies made tough decisions and navigated uncertainty. Their endurance reflects the exceptional resilience, resourcefulness, and commitment of our entrepreneurs and our team. It’s also a reflection of our investors’ and partners’ belief that when we are explicit and intentional in our actions, we can help drive meaningful progress.
With your support, ICA will continue to stand with our entrepreneurs as they keep their eyes to the future.
In the first half of 2021, we launched The Lab at ICA and our new seed capital product, and invested $1.75MM in growth capital into six companies. And, to date, ICA-supported companies have already increased jobs by 2% from 2020, employing 750 workers.
In 2021, we are celebrating 25 years of ICA by showcasing the entrepreneurs, advisors, partners, and funders who have been integral to our impact. Our celebration will culminate on November 18th, with 25 + You: The ICA 25th Anniversary and Entrepreneur Pitch.