Staff Reports | Business & Commerce
The Black Chamber of Arizona, in partnership with the Millionaire Mastermind Academy, has kicked off the third cohort of its signature Impact AZ 2025 business accelerator.
The nine-month program is designed to help small business owners scale, build operational capacity and access supplier diversity opportunities, according to a press release.
This year, 23 diverse entrepreneurs will participate at no cost thanks to $100,000 in scholarships funded by corporate sponsors, the release states.
Bank of America serves as the title sponsor for the 2025 cohort. Additional sponsors include Bell Bank, Cox Communications, Aventiv Technologies, Blue Cross Blue Shield, National Bank of Arizona and the Hispanic Chamber of Commerce.
“It brings great joy to continue this program and to thank Bank of America, our title sponsor, for making it possible,” said Dr. Velma Trayham, president and CEO of the Black Chamber of Arizona.
“To see how quickly these entrepreneurs are growing—and to witness our alumni scaling their businesses—is phenomenal. We’re not just another accelerator. Impact AZ is purpose-driven, opportunity-focused, and committed to building capacity and economic resilience. These business owners are scaling their companies and fueling growth in communities statewide—a big win for Arizona.”
Impact AZ 2025 serves a broad group of diverse business owners, including veterans, women-owned firms, justice-impacted entrepreneurs and businesses generating $100,000 or less in annual revenue. A key goal of the program is to help participants grow into employer firms—a critical driver of job creation and economic growth.
The program offers more than 40 courses, one-on-one mentorship and access to a proprietary mobile app, providing on-demand training in procurement, capital access, strategic planning and business scaling.
Since its inception in 2022, Impact AZ has graduated 75 entrepreneurs, many of whom have scaled into employer firms. Collectively, program alumni have generated more than $5 million in contract revenue. The program reports a 95% success rate among participants.
