Ascend: Supporting growing medium-sized businesses in Atlanta — and beyond

Our programs

Ascend is a national network of local ecosystems that provides resources and market access to growing businesses.

How Ascend is strengthening the small business ecosystem in the United States

  • Many small business support programs — such as SBA initiatives, Community Development Financial Institution (CDFI) lending, and accelerators — focus on helping entrepreneurs access capital and grow their business, often overlooking medium-sized businesses facing similar hurdles. These businesses — often classified as having $5–10 million in revenue — frequently struggle to break into national and global supply chains, limiting their growth potential.
  • Launched in 2017 by the University of Washington’s Foster School of Business and powered by JPMorgan Chase’s Small Business Forward Initiative, Ascend Cities is specifically focused on supporting and growing the next generation of medium-sized American businesses.
  • Working across five cities (Long Island, Los Angeles, New York City, Seattle, and the Twin Cities) plus a national program (Morehouse Innovation & Entrepreneurship Center and the University of Washington Foster School of Business) , Ascend creates pathways for entrepreneurs to scale and thrive. Their programs are designed to address the unique challenges faced by businesses owned by underserved businesses — barriers to education, access to customers, and capital. These gaps have historically led to lower median revenues compared to more connected businesses.
  • Ascend’s model is distinctive in three primary ways:
  • Growing businesses beyond the $5 and $10 million revenue levels with the goal of moving them into middle-market companies. 
  • Building an ecosystem that addresses the three major systemic barriers (management, money, and markets) that have limited business growth for medium-sized enterprises
  • Engaging business schools and HBCUs that have historically been the source of business talent that have shaped high-growth and middle market companies rather than relying solely on community organizations that focus on micro-business growth.

Program overview

Our work together

Together, Mastercard Strive USA and Ascend will grow medium-sized suppliers, helping them build strong networks, expand their market reach, and overcome systemic barriers by addressing both the demand for new suppliers and the supply of capable, high-growth businesses.

  • Mastercard Strive USA supports the Ascend Atlanta Market Access Council, which was launched in 2024 to expand market opportunities for medium-sized diverse suppliers. The council includes middle-market firms with contracts suited for businesses earning under $5 million in revenue. Insights from Atlanta will guide the council’s expansion to other cities in Ascend’s network
  • The grant will aid a Market Access Business Network Group, a network that offers a back-office concierge model with a team of vetted professional service providers to assist businesses in areas such as social presence development, e-commerce, and capability statements.
  • In 2024, the Ascend National Conference hosted in Atlanta, advanced the development of the Ascend Market Access Council and facilitated the dissemination of lessons learned. The annual conference convenes leaders from network hubs to share learnings, best practices, and research findings.

By the numbers

  • As a result of this support, Ascend will connect 20–30 businesses with prospective new customers and clients through the Market Access Council and assist 75–100 businesses through the Business Network during the program period and later scale it to facilitate institutional partnerships.

“Mastercard Strive USA and Ascend aim to build generational wealth for small business owners who continue to be underserved. Strive USA’s technology and financial services network helps Ascend grow small businesses into mid-sized businesses, and mid-sized businesses into large ones. As businesses grow, families thrive, jobs are created, and communities strengthen”

Michael Verchot

Director, Ascend National

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