ICIC Releases 2025 Impact Report Showcasing Innovation as a Driver of Small Business Growth
Boston, MA, Feb. 05, 2026 (GLOBE NEWSWIRE) -- The Initiative for a Competitive Inner City (ICIC) today released its 2025 Impact Report, highlighting how innovation—grounded in research, partnerships, and practical application—is helping small businesses in under-resourced communities grow, create jobs, and strengthen local economies across the U.S. and Canada.
The Impact Report, themed The Year of Innovation, captures ICIC’s work throughout 2025 to translate new ideas and emerging tools—including artificial intelligence, new program models and delivery approaches, and technology-enabled operations—into measurable, real-world business outcomes.
In 2025, ICIC equipped 3,232 small businesses for innovation and growth and strengthened 1,317 communities across 53 regions, reinforcing the organization’s long-standing belief that empowering small businesses is essential to building resilient and thriving local economies.
“Innovation is how progress happens for small businesses—if you’re not moving forward, you’re falling behind,” said Steve Grossman, CEO of ICIC. “In 2025, we focused on turning innovation into action—pairing research with executive education, coaching, and practical tools to help entrepreneurs strengthen their businesses, create jobs, and drive economic opportunity in their communities.”
Throughout the year, ICIC deepened its commitment to practical innovation by integrating AI training across all ICIC-designed and delivered executive education programs, ensuring that small business owners build confidence applying AI directly within everyday workflows.
In response to growing demand for accessible AI education, ICIC and Intuit also launched the Intuit More with AI Tour, a six-city, half-day learning series designed to equip small and mid-market businesses with practical, real-world AI insights, offering hands-on exposure to AI tools and responsible implementation strategies informed by ICIC’s research.
The Impact Report also highlights the experiences of entrepreneurs applying innovation in real-world settings across industries and regions.
“Innovation isn’t always about big breakthroughs. Sometimes it’s about listening, staying curious, and learning from every step.”
— Mayumi Bae, Co-founder, The Plant Based Workshop
The 2025 Impact Report also marks important program milestones, including:
- The launch of ICIC’s Manufacturing Accelerator Program, a research-informed initiative supporting small manufacturers at a critical stage of growth;
- 15 years of partnership with the Goldman Sachs 10,000 Small Businesses program as their national outreach and selection partner;
- Celebrating 20 years of impact for ICIC’s Inner City Capital Connections (ICCC) program, holding more than 160 cohorts and equipping 7,700 businesses to scale; and
- The integration of AI training across all ICIC-designed and delivered executive education programs.
ICIC’s work is made possible by the continued support of corporate funders, partners, individual donors, and alumni, whose commitment enables small businesses in under-resourced communities to innovate, expand, and succeed. Many also serve as nominating partners, helping ICIC identify entrepreneurs ready for growth and transformation.
As ICIC looks ahead, the 2025 Impact Report underscores the organization’s continued commitment to research-informed programs, strong partnerships, and practical innovation, setting the foundation for 2026 as ICIC’s Year of Changemakers.
The 2025 ICIC Impact Report is available in digital format. To explore the full report, visit icic.org/impactreport.
About ICIC
The Initiative for a Competitive Inner City (ICIC) is a national nonprofit dedicated to helping under-resourced communities and small businesses thrive through programming and research. Founded in 1994 by Harvard Business School professor Dr. Michael E. Porter, ICIC provides executive education, coaching, technical assistance, and access to capital to more than 3,200 businesses across the U.S. and Canada each year. Through its research and partnerships, ICIC facilitates private-sector investment and economic development, creating opportunities for small businesses and local economies.
Sarah Ginand ICIC +1 617-803-4532 sginand@icic.org
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