The University of Kentucky is launching a new in-person accelerator program this spring with the aim of increasing the dollars it spends with diverse construction companies.
UK is taking applications until Friday, Feb. 4 for its inaugural Construction Diversity Accelerator (CDA), developed in partnership with Turner Construction and Kentucky Procurement Technical Assistance Center (KYPTAC). The 10-week program is designed to help minority-owned, women-owned and other underrepresented construction-related businesses gain access to the tools, resources and opportunities to be competitive in the construction industry.
The new accelerator is the result of a year-long collaboration between UK and KYPTAC, said Nancy Brown, executive director of KYPTAC, an initiative of the Kentucky Science and Technology Corporation (KSTC). Under the leadership of Marilyn Clark, supplier diversity manager at UK, the university came up with a plan to be more intentional about allocating a greater share of its infrastructure spending to disadvantaged suppliers.
"KYTAC became partners with UK to help them meet that goal," Brown said. "We help businesses get into government contracting and subcontracting, and the University of Kentucky gets funding from the government, so they were an excellent source for us to work with and help them meet their supplier diversity goals."
Alongside its own expertise in contracting, KYPTAC saw an opportunity to bring in construction industry experts for the accelerator program. Clark identified Turner Construction, one of UK's largest suppliers, which already had a diversity-focused training program of its own, the Turner School of Construction Management, established in 1969 in Cincinnati.
“Turner is thrilled to partner with the University of Kentucky to bring this program to the Central Kentucky area," said Kristen Smitherman-Voltaire, community and citizenship manager at Turner, in a news release. "Our company has been committed to engaging with and supporting the development of underrepresented businesses in our communities for decades and this program serves as an extension of that commitment.
"We understand that to achieve greater equity and inclusion within our industry, we must proactively create opportunities for underrepresented firms to grow their businesses. We applaud Marilyn and her team for helping to activate our shared vision of creating a more intentionally inclusive economic ecosystem."
The new UK accelerator will cover important topics like safety, site logistics, insurance and bonding, contracts, subcontracting, construction drawings and specifications, estimating, scheduling, bid and proposal preparation, construction accounting, certification and more, according to the release. The program culminates in a mock bid project that calls on teams to present their proposals in front of a panel of expert judges.
CDA will only accept 15 companies in the first cohort. Brown said they will be evaluating applicants based on how much they could benefit from the education offered in the accelerator program, and whether or not the company has a solid foundation from which to build.
"We are looking to focus on businesses that have not always had a level playing field, and we are looking to take them under our wings and help guide them and give them all the tools and resources to succeed," she said. "The program is going to focus on business development and success, with tools such as budgeting, proposal writing and understanding the value of certifications. All of these classes we're going to provide are going to eventually help you grow as a business."
For a direct link to the application, click here.
