Program Update
Building for Growth
ICIC launched Building for Growth (BFG) in 2022 with the goal of addressing the historic underrepresentation of BIPOC- and woman-owned businesses in the construction industry, by providing them with the tools, education, and mentorship to grow and scale their businesses. Offered tuition-free to participants, BFG is a national, virtual executive education program uniquely designed to help primarily BIPOC- and woman-owned construction contractors access capital, increase bonding capacity, and secure contracts.
The program’s robust curriculum combines 18 weekly classes, dedicated technical assistance, and long-term mentorship. BFG is taught by construction industry practitioners and experts, and comprehensively covers all the key elements needed to be a successful construction firm, including construction law, contract negotiation, and estimating.
Capitalizing on the success of the inaugural cohort launch in May 2022, the program impact was doubled when it expanded to two cohorts in 2023 with the generous support of four new principal sponsors: Kaiser Permanente, PG&E, Intuit, and The Home Depot. The program also broadened its geographic focus: the 2023 Spring Cohort focused largely on the west coast and the 2023 Summer Cohort recruited nationwide.
Impact of Inaugural BFG Cohort
156%
Average increase in bonding capacity
101%
Average increase in backlog
10.4%
Average increase
in workforce
$5.4M
Total capital raised
Snapshot of 2022-2023 BFG Participants
166
Participants impacted
85%
BIPOC-owned
62%
Woman-owned
29
States represented
$2.2M
Prior-year average
revenue
$3.6M
Projected next year
average revenue
13 years
Average age of business
Alumni Spotlight
“Participating in a program that provided such a thorough and detailed curriculum and content was one of the most fulfilling experiences and time well spent. Every topic was explored in a very open and honest manner. The issues that mattered most to construction businesses were highlighted on a consistent basis. The material shared with the class reinforced the subject matter and allowed us to take a deeper dive on our own time. The material is still available today as a valuable resource to us all. Every single class focused on key topics and matters that resonated. We were also paired with a mentor who I stay in touch with on a consistent basis. He provides constructive feedback and reassures me of the strength and stability of our operations. It is so important to have a person to voice opinions and concerns to. We now have the knowledge that can generate millions, so thank you ICIC and BFG for the great work you are doing for the small business community.”
Shirley Boubert-Rumble, CEO
Usource Construction
Washington, D.C.
usourceservices.com
Building for Growth Inaugural Cohort (2022)
“The BFG program covers a lot of topics that are critical to the success of construction business and lays it all out in bite-sized pieces so we can implement what we learn to our businesses little by little. It gave us real practical knowledge of how to take a business from A to B. Personally, this program really helped me refine my strategy and think through how to structure my business effectively. This is a life-changing program, and now the hard work begins.”
Juan Reyes, CEO
Pro Roofing & Siding
Marietta, Georgia
myproroofing.com
Building for Growth Inaugural Cohort (2022)