Philadelphia kicks off 38th annual MED Week, highlighting diverse businesses and resources
Monday, October 3, marks the official start of MED Week in Philadelphia. Each year since 1974, Philadelphia has hosted Minority Enterprise Development (MED) Week to highlight diverse businesses, support connections, and share resources that help businesses grow.
“MED Week is an example of what it means to increase access to equitable wealth building opportunities, and envisioning innovative ways for the local economy in Philadelphia to grow." - Mayor Jim Kenney
He commended the thousands of diverse business owners in the region, and especially those who have continued striving amid the challenges brought by the COVID-19 pandemic.
The awards were presented by the African American Chamber of Commerce, the Asian American Chamber of Commerce, the Greater Philadelphia Hispanic Chamber of Commerce, the Independent Business Alliance, the Enterprise Center, the Office of Economic Opportunity, and other entities.
The Minority Business Development Agency, the only federal agency tasked with promoting the growth and competitiveness of diverse-owned businesses, has been around for 53 years. However, it was not until last year when President Biden signed the Minority Business Development Act that it was a permanent agency.
“I’m very proud of that,” said Victoria L. Hosendorf, executive vice president of The Enterprise Center, which has been instrumental in supporting diverse small businesses in the region for over 30 years.
She presented an award to Gene Waddy, CEO of ALPHA Business Solutions, which specializes in providing full-managed payroll services, IT compliance and risk mitigation. Waddy is also the co-founder of Diversity LLC, one of the largest African American IT staffing firms in the country.
Waddy accepted his award by thinking about his journey in Philadelphia, “a city that has been good to me,” he said.