BII and AIM Join Together to Accelerate Growth for Businesses of Color

NEWS RELEASE

August 26, 2022

Boston Impact Initiative and Associated Industries of Massachusetts
Join Together to Accelerate Growth for Businesses of Color 

Boston, Mass. – The Boston Impact Initiative (BII) and Associated Industries of Massachusetts (AIM) announced today that they are joining forces to support BII-funded businesses and help accelerate growth. Through the collaboration, BII is providing its portfolio companies with a complimentary AIM membership that includes expert human resources assistance, business development, networking opportunities, and timely information on important public-policy issues.

“The collaboration with AIM will provide our portfolio companies –predominantly owned by entrepreneurs of color– with important business-management resources they need to grow and expand. It’s also a tremendous opportunity to meet new customers, suppliers and business contacts,” said Betty Francisco, Chief Executive Officer of BII.

“AIM is delighted to partner with BII, which invests in enterprises in a manner that addresses the racial wealth gap and creates the opportunity for people to own and control their futures. That goal is consistent with our view at AIM that the role of business is to increase value for society and to ensure that the businesses and economy of Massachusetts will thrive today and tomorrow,” said John Regan, President and Chief Executive Officer of AIM.

BII companies will also be eligible to participate in AIM Business Connect, an initiative that matches companies owned or managed by entrepreneurs of color and other minority and women-owned firms with AIM members looking to diversify their supply spends.

“We are excited about BII providing an AIM membership to our company,” said Golam Mustafa of Pristine Engineers. “As a small business, the AIM HR Solutions will help us build our capacity in hiring, supporting employees, and developing company policies. AIM’s Business Connect program will expand our relationships with larger corporations to help us grow.”

About BII: BII is a nonprofit impact investment fund working to build a future where entrepreneurs of color and their communities have the financial, social and political power to create a sustainable, inclusive and equitable economy for generations to come. To do this, BII invests integrated capital in social enterprises and community-controlled real estate to increase wealth and asset-building opportunities for communities of color. BII is also transforming the impact investing field through field-building and education so that economic and racial justice becomes integral to any community-centered investment strategy. Learn more: https://bostonimpact.org/

About AIM: AIM is the state’s largest business association serving the needs of more than 3,400 businesses across 150 different industries, representing more than 650,000 employees. AIM is dedicated to helping business of all sizes and types navigate an increasingly complex business world. The organization services range from public policy advocacy to insurance, training, and HR services. AIM was founded in 1915 by a group of visionary Massachusetts business owners to promote economic opportunity, innovation, and entrepreneurship. Learn more: https://aimnet.org/

About Pristine Engineers, Inc.: Pristine Engineers is an award-winning MBE and DBE certified MEP & FP Engineering company located in Raynham. The company provides HVAC, electrical, plumbing, fire protection, fire alarm and geothermal systems engineering services for public & private building clients including commercial, educational, industrial, residential, laboratory, transportation, health care facility and municipal building projects.

 

 

Synergy Contracting

Synergy Contracting is a fully bonded, unionized, women-owned construction company specializing in Environmental Remediation, Demolition, and Cleaning Construction Services based in Lawrence, MA. Jeysi Zuniga, the founder and CEO, is an immigrant from Guatemala and is determined to provide opportunities and entry points for women in the construction industry. In 2022, BII provided a line of credit to smooth cash flows as the company grows. Learn more

ChopValue

ChopValue Boston manufactures and sells a variety of commercial and residential wood products made out of previously discarded chopsticks. ChopValue’s business model exemplifies the concept of the circular economy: chopstick waste is recycled, converted to a useful good at a microfactory, then purchased by local customers. CEO, Elaine Chow, focuses on hiring young adults facing barriers to employment, including returning citizens. In 2022, BII made an equity investment to start the microfactory that will have a structured exit. Learn more