Milken Institute: A new strategic future for the Initiative for Inclusive Entrepreneurship
Our programs
The Milken Institute is a nonprofit, nonpartisan think tank that focuses on advancing innovative economic and policy solutions to improve lives globally
How Milken Institute works to strengthen the small business ecosystem
How Milken Institute works to strengthen the small business ecosystem
- For many small business owners across the United States, the biggest challenge isn’t a lack of ideas or ambition — it’s knowing where to turn for the right support. The Initiative for Inclusive Entrepreneurship (IIE) is working to change that, helping ensure that capital and resources are not just available, but truly accessible.
- Launched in 2022 by Hyphen, IIE laid critical groundwork to strengthen the small business ecosystem in the United States. During the pilot phase, the initiative helped build capacity across community lenders, fund managers, and state and Tribal administrators — offering technical assistance, training, and a platform for public-private collaboration.
- Today, the Milken Institute is carrying that work forward. As the new steward of IIE, the Institute is building on the foundation established by Hyphen to chart a longer-term strategy for scale. A nonpartisan, nonprofit think tank, the Institute brings deep expertise in capital markets, policy design, and ecosystem-building. Its global convening power and strategic lens are helping evolve IIE from a successful pilot into a national model for inclusive small business development.
Program overview
Our work together
- With support from Mastercard Strive USA, the Milken Institute is advancing IIE’s long-term vision with new strategic and programmatic leadership. In late 2024, the Institute developed a five-year strategic plan to strengthen IIE’s infrastructure and better align the work of key implementers.
This next phase focuses on two verticals:
- Suppliers Vertical — Milken Institute is expanding efforts to reach an additional 1,000 suppliers with access to innovative financing products, technical assistance resources, and funding opportunities designed to support business growth and sustainability.
- Tribal Vertical — Milken Institute is leading the development and pilot of capital, training, and technical assistance strategies tailored to Tribal Nations. This work aims to accelerate Native-led investment initiatives and improve access to financial resources for Indigenous entrepreneurs.
By the numbers
- Since its launch, IIE has provided hands-on technical assistance to 629 small businesses and connected more than 12,000 additional businesses to capital through loan match-making efforts.
- Of those served, most qualify as Socially and Economically Disadvantaged Individuals (SEDI), and roughly 2,000 are micro-businesses with fewer than 10 employees—a segment often overlooked by traditional financing channels.
- To date, the initiative has helped deploy 72 loans totaling more than $15 million: 29 issued directly by IIE and 43 facilitated through lending partners.
“As part of our Pathways to Capital portfolio, our partnership with Mastercard Strive USA will expand the IIE program to communities facing the greatest challenges to accessing capital — creating stronger economic opportunities.”
Rachel Reilly
Senior Director, Milken Institute Finance
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