May 29, 2013
The Initiative for a Competitive Inner City (ICIC) and FORTUNE announced that Intelect Corporation (Rank #93) was selected for the 2013 Inner City 100, a list of the fastest-growing inner city companies in the U.S. The Inner City 100 program recognizes successful inner city companies and their CEOs as role models for entrepreneurship, innovative business practices and job creation in America’s urban communities. Intelect Corporation provides engineering, implementation, and maintenance solutions for telecommunications, intelligent transportation systems, video surveillance, information technology, and electrical systems. The company has seen a 135.3% increase in revenue over the past five years and is projected to continue its rate of growth.
The rankings for each company were announced at the Inner City 100 Awards on Tuesday, May 21, 2013 in Boston, Massachusetts. The Awards marked the Inner City 100 program’s 15th year and launched a formal alumni network of Inner City 100 winners. Preceding the Awards celebration, winners attended a two-day small business Symposium featuring business management case studies presented by Harvard Business School professors and peer-to-peer learning sessions led by CEOs of fast-growing firms. Keynote speakers included Harvard Business School Professor Michael E. Porter; Tim Westergren, Founder and Chief Strategy Officer of Pandora Media; Tom Szaky, CEO of TerraCycle; and Hamdi Ulukaya, Founder, President and CEO of Chobani.
The Inner City 100 list provides unmatched original data on the fastest-growing inner city businesses in the U.S. In the last 15 years, 750 unique companies have earned positions on the Inner City 100, collectively generating more than $2.1 billion in annual revenues and creating over 76,000 new jobs. Chevron Corporation, Staples and Goldman Sachs 10,000 Small Businesses are long-time sponsors of the program.
For the 2013 list, winners represent a wide span of geography, operating in 48 cities and 27 states. The 2013 Inner City 100 winners grew at a compound annual growth rate of 36 percent and an average standard growth rate of 411 percent between 2007 and 2011. Collectively, the top 100 inner city businesses employ 10,391 employees and have created more than 5,863 new jobs between 2007 and 2011. Not only are the winners powerful job creators in their communities, but they also help grow their employees with 56%+ provide onsite training programs.
“We are excited to celebrate inner city businesses like Intelect Corporation whose success stories are not told nearly enough,” said Mary Kay Leonard, ICIC President and CEO. “These entrepreneurs are driving economic forces in America’s urban cores, growing their communities along with their businesses.”
Inner City 100 Sponsors:
Chevron Corporation, Goldman Sachs 10,000 Small Businesses, and Staples Inc.
Intelect Corporation was founded in Baltimore in 1995, by Rohit H. Patel. Intelect engineers, implements, and maintains technology for infrastructure. Intelect is a nationally recognized and won multiple awards for projects in the telecommunications, cellular, homeland security, Intelligent Transportation Systems, IT, and electrical fields. Some of the awards include:
“National Leadership Award” by Staples Corporation and ICIC 2012- Watch the video at http://www.youtube.com/watch?v=OTzM4CKfhmI; “Fastest 100 Growing Urban Businesses in America” by Harvard University, Professor Michael Porter, & Fortune Magazine 2012, 2013; “Voltage Award Finalist” Leadership in Innovation and Technology – Large Company category, 2013; “Inc. 500/5000” Americas Fastest Growing Companies by Inc. Magazine 2011; “50 fastest growing Technology companies in Maryland” 2008 Deloitte; “Entrepreneur of the Year – Software and Technology” 2007 Regional Winner by Ernst and Young; Multi-year awards 1996-2013: “Top 100 CEOs”, “Future 50”, “Business & Community Achievement Award” – Bridging the Gap, “Top Technology Companies” by SmartCEO Magazine, “Fastest Growing Companies”, “Largest Minority Owned Companies”, “40 Under 40” by the Baltimore Business Journal. www.intelectcorp.com.
Initiative for a Competitive Inner City
ICIC is a nonprofit research and strategy organization and the leading authority on U.S. inner city economies and the businesses that thrive there. Founded in 1994 by Harvard Business School Professor Michael Porter, ICIC expands inner city economies by providing comprehensive and actionable information in the field about urban market opportunities. The list is proof of the concept that doing business in an inner city area holds a distinct competitive advantage. ICIC has been studying the economic condition of the largest 100 American cities for more than a decade and is working to revitalize inner cities across the country. www.icic.org.
Original article: Intelect Corporation among ICIC and FORTUNE’s Inner City 100 Winners