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The 2025 Impact Report: A Year of Innovation for Small Businesses

Boston, MA, Feb. 5, 2026 (GLOBE NEWSWIRE) — The Initiative for a Competitive Inner City (ICIC) has just unveiled its comprehensive 2025 Impact Report, emphasizing how innovation fueled by research, strategic partnerships, and practical applications is transforming the landscape for small businesses in under-resourced communities. This initiative is not just about economic growth; it’s about creating jobs and fortifying local economies across the United States and Canada.

Key Insights from the Impact Report

The 2025 Impact Report, themed "The Year of Innovation," encapsulates ICIC’s ongoing efforts throughout the year to translate pioneering ideas and cutting-edge tools—such as artificial intelligence (AI), innovative program models, and technology-enhanced operations—into tangible business results. This year saw ICIC supporting a remarkable 3,232 small businesses and bolstering 1,317 communities across 53 regions. This accomplishment reiterates the organization’s foundational belief that empowering small businesses is vital for fostering resilient and flourishing local economies.

Innovation as a Catalyst for Progress

“Innovation is how progress happens for small businesses; if you’re not moving forward, you’re falling behind,” stated Steve Grossman, CEO of ICIC. The emphasis in 2025 was on translating innovation into actionable strategies, blending research with executive education, coaching, and practical tools designed to assist entrepreneurs in strengthening their businesses, generating jobs, and enhancing economic opportunities within their communities.

A Focus on Accessible AI Education

Throughout this pivotal year, ICIC intensified its commitment to practical innovation by incorporating AI training into all of its executive education programs. This proactive approach ensures that small business owners are not just passive observers but rather confident players in applying AI technologies directly within their daily operations.

In response to the burgeoning interest in accessible AI education, ICIC joined forces with Intuit to introduce the Intuit More with AI Tour, a six-city, half-day learning series. This initiative is dedicated to equipping small and mid-market businesses with practical, actionable insights about AI. Through this series, participants gain hands-on experience with AI tools and learn responsible implementation strategies, all informed by ICIC’s extensive research.

Real-World Impact and Entrepreneurial Experiences

The report emphasizes the unique stories of entrepreneurs who are implementing innovative practices across various industries and regions. As co-founder Mayumi Bae of The Plant Based Workshop articulates, “Innovation isn’t always about big breakthroughs. Sometimes it’s about listening, staying curious, and learning from every step.”

Significant Milestones Achieved

The 2025 Impact Report also marks several key milestones in ICIC’s programming, illustrating the organization’s dedication to fostering growth and sustainability among small businesses. Notable achievements include:

• The launch of ICIC’s Manufacturing Accelerator Program, which provides research-driven support to small manufacturers at crucial growth stages.
• A continued 15-year partnership with Goldman Sachs’ 10,000 Small Businesses program as their national outreach and selection collaborator.
• Celebrating 20 years of impactful work through ICIC’s Inner City Capital Connections (ICCC) program, which has successfully hosted over 160 cohorts, empowering 7,700 businesses to scale effectively.
• Continual integration of AI training across all ICIC-designed executive education programs, reinforcing the modern entrepreneurial toolkit.

The Role of Supporters and Partners

ICIC’s initiatives are sustained by the unwavering support of its generous corporate funders, partners, individual donors, and alumni. Their dedicated involvement enables small businesses in under-resourced communities to not just survive but thrive through innovation, expansion, and success. Many of these supporters also act as nominating partners, helping ICIC identify entrepreneurs poised for growth and transformation.

Looking Ahead: A Commitment to Change

As the ICIC looks to the future, the findings of the 2025 Impact Report highlight its unwavering commitment to research-informed programs, robust partnerships, and practical innovation. This commitment lays the groundwork for 2026, which is earmarked as ICIC’s Year of Changemakers—the organization is gearing up to make even more significant impacts.

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The 2025 ICIC Impact Report is now available in digital format for those interested in exploring its full findings. For more details, visit icic.org/impactreport.

About ICIC

Founded in 1994 by Harvard Business School professor Dr. Michael E. Porter, the Initiative for a Competitive Inner City (ICIC) is a national nonprofit dedicated to empowering under-resourced communities and small businesses to thrive. Each year, ICIC serves over 3,200 businesses across the U.S. and Canada by providing executive education, coaching, technical assistance, and access to capital. Through its robust research initiatives and strategic partnerships, ICIC plays a central role in facilitating private-sector investment, driving economic development, and creating sustainable opportunities for local entrepreneurs.

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