The FedPROPEL Institute
Fund-raising - Washington, District of Columbia, United States
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1.7%.Per Bloomberg Government Research, African American led firms receive 1.7% of federal contracting dollars. The numbers are similarly disappointing for Hispanic/Latinx community. Those firms receive 1.8% of contracts even though they represent 18% of America's population. In summary, firms that represent nearly 33% of country's population receive 3.5% of its contracts.This disparity represents a significant disconnect in the system. The FedPROPEL Institute was created to change this. We provide firms from under resourced communities with the wherewithal to successfully access the world of Federal government contracting.FedPROPEL Vision 2030Over the next decade, the FedPROPEL Institute mission will assist 3,000 minority-led firms in becoming elite Federal Contractors securing more than $4.5 billion in contracts annually while creating thousands of jobs in their communities. By 2030, FedPROPEL projects its graduates will create 120,000 to 150,000 direct and indirect living wage jobs.Why FedPROPEL existsThe Biden Administration has a goal of increasing federal contracting spend to small businesses by 50% by 2025 – with a focus on African American and Hispanic/Latinx-led firms. However, there isn't a scalable solution to prepare minority entrepreneurs to access these opportunities. FedPROPEL fills that gap.What FedPROPEL doesFedPROPEL uses a bifurcated model leveraging a web-based platform and extensive partner network, FedPROPEL prepares firms to perform at an elite level. Our interactive group training and individual consulting services deliver transformative organizational development. How FedPROPEL differsThe FedPROPEL Institute employs an innovative deferred cost solution. Firms will pay a nominal deposit, and FedPROPEL covers the rest of the costs until they win a contract. Our goal is to reduce the upfront investment necessary to win a federal contract by 18-months and $100,000 increasing our participants ability to invest in their companies and
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