National ACE Celebrates Successful 2023 AAPISTRONG Annual Conference and the Announcement of the Capital Readiness Program

WASHINGTON, D.C. November 2, 2023 – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) celebrated a successful 2023 AAPPISTRONG Annual Conference that united hundreds of Asian American and Pacific Islander (AAPI) entrepreneurs, small business owners, non-profit organizations, and corporate partners to explore innovative avenues for capital building, obtain legislative updates, and gain inspiration from the entrepreneurial success stories of their peers.

The two-day business conference featured prominent speakers, including: Isabella Casillas Guzman (Administrator of the U.S. Small Business Administration), Donald R. Cravins, Jr. (Under Secretary of Commerce for Minority Business Development), Erika Moritsugu (Deputy Assistant to the President and Asian American, Native Hawaiian, and Pacific Islander Senior Liaison), Krystal Kaߵai (Executive Director of the White House Initiative on Asian Americans, Native Hawaiians, and Pacific Islanders), Kendee Yamaguchi (Deputy Assistant Secretary for the U.S. Field, Global Markets at the U.S. Department of Commerce), Sean Reyes (Attorney General of Utah), Kimberly Yee (Arizona State Treasurer), and Nathaniel Ru (Co-Founder and Chief Brand Officer of sweetgreen). 

“Diverse communities are powering entrepreneurship in this country, and the SBA is proud of our work to support AAPI entrepreneurs through our strategic partnership with National ACE. Under the Biden-Harris Administration, the SBA increased lending to AAPI-owned small businesses by more than a third, and we are going to keep working to advance equity in small business lending, government contracting and more to ensure we invest equitably in all of our country's great talent and ideas," stated Small Business Administrator Isabel Guzman.

National ACE was also thrilled to announce they were a proud recipient of a four-year, Capital Readiness grant from the United States Department of Commerce’s Minority Business Development Agency (MBDA). 

“National ACE is receiving a grant to launch their ‘SEDI Ready’ program, which will establish two incubator and accelerator hubs - one on the West Coast and one on the East Coast. These hubs will get entrepreneurs ‘capital ready’ and then, in partnership with skilled matchmakers and capital advocates, connect the entrepreneurs with capital opportunities through the State Small Business Credit Initiative (SSBCI) and other funding sources,” said Under Secretary Donald R. Cravins, Jr. “This is what it's going to take to give every American a real shot at success. Equity is the key to bridging the gap between what America is and what America can be.”

"We recognize the value of the Capital Readiness Program including capacity building, development, and capital opportunities for the success of the 2.65 million AAPI-owned small businesses nationwide,” said Chiling Tong, President and CEO of National ACE. “We are proud to be a key partner with MBDA, which will bolster AAPI businesses across the nation with an accelerator curriculum to expand access to capital.”

During the Friday night awards celebration, National ACE was also pleased to announce the three additional Grubhub Restaurant grants for $50,000 to Sunhee’s Farm and Kitchen, Aloha Island Market, and Ranken Noodle House.

Finally, Wells Fargo was celebrated as the 2023 Corporate Champion of the Year.

For the complete list of the conference programming, breakout sessions, and the Capital Readiness Program, please visit AAPISTRONG.com.

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About The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE)

National ACE serves as the unified voice of the 2.65 million Asian American and Pacific Islander (AAPI) small business owners who employ over 5.1 million people. National ACE seeks to improve the economic, political, and social well-being of AAPIs by advocating for AAPI businesses in federal and local government, removing barriers to starting, retaining, and growing a business, fostering the next generation (NextGen) of AAPI entrepreneurs, advancing coalitions, fostering economic development, and promoting wider AAPI leadership in public and private spheres. National ACE works with its 120 affiliate AAPI Chambers and business organizations across the U.S. to develop programs that include policy webinars, one-on-one consulting, mentorship, and virtual training to keep the business community updated on relevant policy discussions and available capital to grow or scale their business.

For Media Inquiries, please contact:

Emily Fuder

Email: efuder@nationalace.org