Tucson Information Technology Alliance

Cybersecurity Skills Training to Underserved Seeking Jobs in Booming Industry

CIC is excited to be a part of the Tucson Information Technology Alliance, a partnership between Tucson-based tech accelerator Go For Vertical, Transmosis Corporation, and CIC offering underserved adults in the Tucson area an opportunity to train for high-growth information technology careers. The scholarships are provided thanks to an Economic & Workforce Development Grant awarded to the Tucson Information Technology Skills Alliance by the City of Tucson. 

The Alliance’s intensive information technology training program will be offered to residents of the Tucson area with a focus on the unemployed, underserved, minorities, veterans, and low-wage career changers. 

Using a proprietary virtual training model created by Transmosis, a nationally-recognized cybersecurity workforce developer, the program enables applicants to become rapidly trained in employer-driven information technology skills that can lead to industry certifications and employment. 

“The need for a highly trained, agile and robust technology workforce is evident in Tucson, where talent is often imported into the region rather than focusing on development of the local workforce. Meeting this demand for qualified local IT professionals can change that trend, and is crucial for attracting and keeping businesses with continued job and wage growth,” says Edward Cruz, CEO of Go For Vertical. 

Tucson has witnessed a booming 90 percent growth in technology jobs and a 29 percent growth in tech job wages over the last several years. However, employers continue to struggle to fill the open positions with local qualified candidates, according to Tucson Business Insider. 

Click here to learn more and apply

Tucson Information Technology Skills Alliance Partners

Go For Vertical is a Tucson-based technology and venture accelerator with a mission to help the Southern Arizona region develop a robust innovation ecosystem. With a focus on startups, nonprofits and enterprise clients, G4V has grown from a small group based in Tucson to an expanded team of over 100 consultants and engineers based both in the US and overseas delivering global technology and business solutions.  

 Transmosis is a nationally recognized cybersecurity workforce developer that enables American workers to develop new careers in the rapidly growing information security industry. Transmosis is the creator of transmosisONE, a Fortune 5000 cybersecurity platform designed to protect small businesses/SMBs from cyber attack with integrated cyber liability coverage.

BIPOC Loan Inaugural Recipients Announced

CIC couldn’t be more thrilled to announce the business owners selected to participate in the first ever BIPOC Community Managed Loan Fund! This fund was carefully designed to serve Black, Indigenous, People of Color (BIPOC) entrepreneurs in Southern Arizona with 0% interest microloans, ranging from $500 to $10,000.

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Supporting Innovation in Education

Over $600,000 in seed funding will be awarded through A for Arizona’s Expansion and Innovation Fund, including the Pima IDA’s gift, empowering innovative school and community leaders, teachers, and families to implement their bold ideas for reimagining learning models, creating and scaling more student-focused programs, and developing better teaching and learning educational approaches. Applications are being accepted for this grant funding June 3 – July 8 at noon.

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StartupTucson IdeaFunding Award Winners

Idea Funding

IdeaFunding, led by our friends at Startup Tucson & Arizona Commerce Authority, was held on April 15, 2021. It was a day-long digital entrepreneurial experience including Southern Arizona’s largest pitch competition, inspirational community Resiliency Awards, and powerful thought-leaders.

Adelante Award

CIC was honored to sponsor the Adelante Award. An award that supports diverse founders, such as women-owned and BIPOC-owned companies.

Originally intended to be one $5,000 award, CIC was so impressed by two founders’ pitches that we just had to support both! 

Learn more and support these powerhouse entrepreneurs:

Obánj

Obánj is a monthly subscription service that lets you borrow designer and artisan jewelry from designers like Oscar de la Renta and Balenciaga. Depending on your Membership Plan, you can borrow one, two, or three pieces of jewelry per month.

Ku' Panda Skincare

Ku’Panda is a high quality experience with affordable prices. Herbs, Actives and Potent Botanicals hydrate, brighten and treat skin. Our products are kissed by Tucson with wildcrafted herbs sourced by local herbalists. Active ingredients are strategically used to guarantee you results backed by science.

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Kiva Tucson Making an Impact

The Power of Community-Backed Lending and Kiva Tucson

The rate that entrepreneurs are starting new businesses in the US has been flat for almost 20 years. While there are many factors, lack of access to capital is a barrier that is difficult for many would-be business owners to overcome. This trend of stagnant new business growth is fueled by the reality that a significant portion of the population – women, people of color and rural entrepreneurs – face significant hurdles finding funding necessary to start and grow a new business.

This is problematic because entrepreneurs – not big businesses – are fueling all new net job creation (Kaufman, Start Us Up).

“Supporting and expanding entrepreneurship increases jobs, innovation, and productivity.” Wendy Guillies, president and CEO of the Kauffman Foundation. This is going to be crucial for the recovery we face in the wake of the pandemic.

At CIC, we’ve been building platforms to offer more options to entrepreneurs to access capital, in many cases creating the first rung on the capital access ladder for small business owners. 

One such platform we’ve activated in partnership with Growth Partners Arizona and the City of Tucson is Kiva – a community backed lending platform for small business owners, offering 0%, zero fee micro loans from $1,000 – $15,000. Since the launch of Kiva Tucson, 23 local business owners have raised nearly $200,000 in funding to grow and develop their business during one of the toughest times for small business, many of which have been drastically impacted by COVID-19.

Another fascinating statistic that confirms the findings of the Kauffman Foundation, these 23 small businesses have added a total of 44 new jobs since July 2020. 

“Without the loan I was able to raise through Kiva, I would never have been able to further develop my business helping to place nurses in healthcare facilities. I’ve been able to hire 15 healthcare workers who rely on my business to connect them where the need is greatest.” Philemon Prescoss, CEO, 3Twelves.

As a restaurant owner during this time, Gada Ghotmi, owner of Med Cuisine, has known the challenges first hand across many fronts. She and her husband were both hospitalized with COVID-19, but she was determined to build her business back, and with the help of a Kiva loan to provide the funding she needed to restock and hire help, she’s been able to hire 6 people since July 2020. “Kiva was the lifeline we needed. No bank was willing to loan money to a restaurant owner in the middle of the pandemic.”

CIC is committed to continued innovation for entrepreneurs to access the capital needed to build and grow business for the community to accelerate recovery, and ensure the US economy has the fuel it needs to grow sustainably.

BIPOC Community Manage Loan Fund ANNOUNCED

A new resource for BIPOC entrepreneurs and business owners in all stages of business.

UPDATE: Program details announced June, 30, 2021: 

Click here for BIPOC CMLF Program Page

This loan fund is the brainchild of Community Investment Corporation (CIC) staff who wanted to take action in the wake of recent and ongoing national tragedies and calls for racial equity and justice. In partnership and with the support of BLAX Friday and Startup Tucson, CIC will shift decision-making to the community itself about where (geographically), to whom (communities of color underserved by financial institutions and systems), and under what circumstances (measures of risk) capital flows.

Traditional economic structures and capital access mechanisms have deprived too many BIPOC individuals, families, and entrepreneurs of essential financial empowerment tools for too long. We are proposing a new approach and solution to promote holistic societal and economic equity and health.

Purpose: To offer 0% interest loan funding to early stage BIPOC identifying entrepreneurs in the first 5 years of formalized business ownership. This funding will come from an established “revolving loan fund” housed and managed by CIC.  Revolving loan funds are self-replenishing pools of money, typically utilizing interest and principal payments from existing loans to issue new ones. Because the initial loans from this fund will be originated at zero interest, the fund in its nascency will rely on financial and in-kind support from CIC. Funding for the inaugural BIPOC loan has been generated by CIC with all current staff making personal contributions. CIC is also actively fundraising to grow the pool of available funds with an initial goal of raising $100,000 for distribution in 2021. All repayment of loans will be reinvested in the fund – these funds may be loaned out with nominal interest in the future to help offset administrative costs of managing the fund. 

Process:  The BIPOC Community Managed Loan Fund will redefine traditional lending qualifications and decision making. CIC staff will act as educator, facilitator and guide, and will originate and service all loans and manage all monies in relation to this fund.  Decision making will however be done solely by the BIPOC CMLF members. The committee will establish and define underwriting criteria, loan application details and the process for approval, as well as make the final decisions on loan approvals. The committee will meet monthly.   

Fundamentals of loan (subject to change based on committee): 

  • Up to $10,000 
  • 3 to 5-year term 
  • 0% interest 
  • No traditional collateral needs to be pledged 
  • Entrepreneur within first 5 years of formalized business ownership 

Estimated timeline and next steps:

  • Establish the Community Managed Loan Fund (CMLF) Committee
  • Educate CMLF Committee on traditional lending practices
  • CMLF Committee to create guidelines, underwriting requirements, application, and decision-making framework for loans
  • Public launch of the program including an open call for loan applicants

Questions? Want to be contacted regarding updates?

Click here to complete our BIPOC Loan Fund Inquiry Form

This project is made possible with the generous support of the following:

Tucson Electric Power
BBVA
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Click here to read TEP's Feature Article

HFAC Partnership Impact Report

In mid-March, as Arizona began to implement public health and safety measures, our community’s small businesses began a long hard uncharted road that was and is difficult to navigate. The journey continues as COVID-19 mitigations are still a critical part of containing this pandemic, but we at CIC would like to take a quick pause to give incredible thanks to those who helped support our emergency response work in the first few months of this crisis. 

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