CNHED Launches DCAP Portfolio, Bolstering Minority-Owned Businesses in DC’s Economic Comeback

June 26, 2023

Home News and Updates CNHED Launches DCAP Portfolio, Bolstering Minority-Owned Businesses in DC’s Economic Comeback

Washington, DC | Today, the Coalition for Nonprofit Housing and Economic Development (CNHED) announces the launch of the DCAP Portfolio as part of its DC Community Anchor Partnership (DCAP) initiative. The DCAP Portfolio is a group of 24 high-performing minority-owned businesses (MBEs) located in the District that have gone through an intensive performance evaluation to show they have the capacity and infrastructure to meet the needs of DC’s largest, institutional buyers.

DCAP is a collaborative of local “anchor institutions” – hospitals, universities, and utility companies – harnessing their purchasing power to grow DC-based MBEs. Led by CNHED and co-convened with the Deputy Mayor for Planning and Economic Development (DMPED), DCAP works with its Anchor Members to re-engineer institutional procurement systems and create equitable access to contract opportunities. Since 2017, DCAP has driven more than $250M in contracts to local MBEs through the commitment of its Anchor Members.
The initiative has made remarkable progress since 2017 in leveraging the purchasing power of anchor institutions to foster the growth of minority-owned businesses in the District.

Since its inception in 2017, DCAP has driven more than $250M in contracts to local minority-owned businesses by participating anchor institutions.

The DCAP Portfolio is a key pillar in DCAP’s efforts to support and elevate minority-owned businesses in the DC Metro area. The Portfolio program is designed to help these MBEs better compete for large contracts with Anchor Members, while also providing them with technical assistance, strategic introductions to capital providers, and industry-specific executive mentorship.

“The DCAP Portfolio represents a major step forward in our efforts to support and elevate minority-owned businesses in the District. These businesses play a critical role in the economic revitalization of our region, and we are excited to see what they will achieve in the years ahead.”

- Stephen Glaude, CNHED President & CEO

The launch of the DCAP Portfolio represents not only a major milestone in CNHED’s ongoing efforts but also the District Government’s efforts to support minority-owned businesses and equity in Washington, DC.

The DCAP Portfolio addresses several priorities and goals outlined in Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Economic Development (DMPED)’s Economic Recovery Comeback Plan, released earlier this year:

GOAL:
‘Successful Businesses’
Be a leading city to start and run a business, particularly for resident and Black and Hispanic-owned businesses.

Initiative: Use local procurement to create opportunities for small and BIPOC-owned businesses by refining CBE program statue and certification process, increasing District SBE contracting, and growing DC Community Anchor Partnership participation.

GOAL:
‘Thriving People’
Help BIPOC residents build economic stability, mobility, and wealth by expanding financial security, homeownership, and entrepreneurship.

Initiative: Support wealth building opportunities through business by continuing entrepreneurship training and technical assistance programs and commercial property acquisition assistance; includes DSLBD’s Aspire to Entrepreneurship, Dream program, Nourish DC technical assistance, CPAF program.

“We are proud to support DCAP and the launch of the DCAP Portfolio. By supporting our minority-owned businesses, we are helping to build a stronger and more equitable economy for all of Washington, DC.”

- Keith Anderson, Interim Deputy Mayor for Planning & Economic Development (DMPED)

Through high-impact initiatives such as DCAP, CNHED is committed to building a diverse and inclusive economy in our nation’s capital that can serve as a model for cities nationwide.

Thank you to our funders!

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