Prosperity can be defined as a successful, flourishing, or thriving condition of good fortune. The Minority Technology Industry is thriving and is considered one of the fastest growing industries in America. With a current US market value of over $100 Billion it is no wonder our mission for the National Minority Technology Council's Capital Access Strategy Initiative (NMTC CAS Initiative or CAS) is to direct this growing economic engine towards many of the communities in which we grew up.
This initiative is focused on the phenomenon of underemployment. Our premise is based on the idea that if given a chance people will generally flourish. There is plenty of research that connects underemployment with poverty. There is also a great deal of research that bear witness to the profit that can be gained through programmatic education of communities towards new technology jobs. It is our core belief that the communities we will serve have not been exposed to new economy jobs and therefore will generate more profit than communities where opportunities are plenty.
So the CAS Initiative is about bringing new opportunities or more specifically jobs to low-income communities as a way to build wealth and the goal of providing new pathways into the mainstream economy. It is also about bringing in targeted property development that honors the community we serve and is focused on sustainable solutions. Our community engagement and improvement process brings a tangible methodology to measure the social impact of our community development efforts.
The whole matter of measuring impact is central to who we are and what we are about. Part of our metrics include new impact reports that foster productive new collaborations that strengthen our industry approach. Now more than ever, new kinds of partnerships are critical to community development and industry involvement. Working closely with government entities, high impact non-profits, the education community, and the financial community including banks and capital investment partners our industry approach will effectively pool the expertise and creativity and resources of these diverse organizations and enable our industry to reach new levels of success.