Development Consultant RFP

March 2024 

 

Overview

Hyphen seeks a highly experienced development professional to support fundraising for the Initiative for Inclusive Entrepreneurship or IIE (see below). The ideal consultant will have extensive experience in both grant and MRI/PRI fundraising; a deep knowledge of and relationships with philanthropic and financial institutions funding small business development and entrepreneurship, beyond existing IIE funders; and excellent writing and communication skills. 

 

Scope of Work

1. Prospect Research and Cultivation

   1. Identify and cultivate funder contacts as grant/PRI/MRI prospects for IIE and facilitate introduction/connection to IIE

   2. Conduct research to identify additional prospective grant funders and PRI/MRI investors to support IIE and execute a cultivation strategy and plan for execution

   3. Direct funder outreach including preparing the Hyphen-IIE team for meetings, and managing follow up

2. Writing (with input and guidance from the Hyphen-IIE team)

   1. Gather information needed for fundraising-related documents

   2. Prepare drafts of fundraising-related documents, including proposals and collateral materials

   3. Draft correspondences to funders and prospective funders

   4. Update existing fundraising-related documents (as needed)

3. Coordination

1. Track and drive follow-up items and deadlines

2. Coordinate with the Hyphen-IIE team as well as Mission Drive Finance (MDF), which is leading the design and development of an IIE-wide investment vehicle, and other IIE partners as needed 

 

Timeline

The period of engagement is through June 30, 2024 (with option to extend based on identified needs), beginning as soon as possible, ideally in April 2024.  

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Process

Interested consultants should submit a resume/CV, a proposal writing sample, and a cover letter that highlights relevant experience and includes daily or hourly rate and estimated time required to: Daranee Petsod, Senior Advisor, Hyphen no later than April 8, 2024. 

 

Initiative Overview

Announced in October 2022 by Vice President Kamala Harris and launched in January 2023, IIE is a  national pilot to expand access to capital for small businesses owned by people of color, the fastest growing segment of the small business market. By serving as a force multiplier for the U.S. Department of Treasury’s $10 billion State Small Business Credit Initiative (SSBCI), IIE works to expand patient capital and innovative financial products, strengthen the small business ecosystem, advance racial equity, and create systemic change to benefit entrepreneurs of color well beyond the life of this American Rescue Plan-funded program.  

 

IIE has an integrated, four-pronged approach: (1) build capacity among community lenders and fund managers focused on reaching entrepreneurs of color; (2) deploy philanthropic and private investment capital to leverage SSBCI funding; (3) establish a centralized hub and community of practice to enable collaboration, address gaps and needs, and share best practices; and (4) generate media coverage that highlights IIE’s approach and impact.IIE will focus on an initial target group of diverse states and Tribal Nations: California, Illinois, Kansas, Michigan, New Mexico, New York, Ohio, Tennessee, and Washington. We are also working with the Navajo Nation as well as other Tribal governments.

 

IIE has an 18-month timeline for capacity building, operationalizing the community of practice, and deploying resources for shorter-term demonstration projects as well as long-term patient capital.