Metropolitan Economic Development Association(MEDA)

Meda provides business consulting, access to capital, and market opportunities for minority entrepreneurs. Meda also operates a business development center under cooperative agreement with the Minority Business Development Agency (MBDA) of the U.S. Department of Commerce. The Minneapolis MBDA Business Center connects Minnesota Minority Business Enterprises (MBEs) with business opportunities. In 2016, Meda served 676 customers through our combined service offerings and helped minority businesses secure $165 million in contracts. Since its beginning in 1971, Meda has helped more than 20,000 entrepreneurs of color and assisted in the start-up of more than 550 businesses.

Alfredo Martel

CEO and President

6 past transactions

Femly

Grant in 2021
Femly is a Maryland-based producer of plant-based, environmentally friendly feminine hygiene products, including organic cotton tampons, pads, and cups. The company sells online and through a monthly subscription model, delivering to individual customers as well as restrooms in hotels, coworking facilities, and colleges. Founded in 2016, Femly emphasizes sustainable materials and easy access to menstrual care, offering convenient, health-conscious options that align with environmental values.

Flourish Fi

Grant in 2021
Flourish Savings, Inc. is a digital engagement platform based in Albany, California, that focuses on enhancing financial habits through a rewards-based online and mobile savings account. Founded in 2017, the company aims to appeal to individuals who underutilize traditional banking services. Flourish Savings provides financial institutions, such as banks and credit unions, with tools to attract new consumers and encourage meaningful financial actions. Its innovative platform allows users to grow their savings by engaging in activities that unlock prizes, thereby promoting positive financial behaviors. By facilitating new deposits and fostering deeper relationships between consumers and financial institutions, Flourish Savings contributes to increased revenue and customer engagement in the financial services sector.

Mi Terro

Grant in 2021
Mi Terro is a pioneering company that manufactures eco-friendly packaging materials derived from agricultural waste. Utilizing advanced material science, they create ocean degradable and home compostable flexible packaging solutions for various applications such as fresh produce, food, fashion, cleaning products, and standard packaging. Their innovative process transforms agricultural byproducts into protein-based materials, replacing petroleum-based plastics while reducing energy consumption and CO2 emissions.

Please Assist Me

Grant in 2021
Founded in 2018, Please Assist Me operates as a home management company that partners with apartment complexes in Nashville, Tennessee, and Washington, D.C. It provides residents with convenient services such as grocery delivery, laundry and dry cleaning, mail management, and special requests.

Options MD

Grant in 2021
Options MD is a telemedicine platform that employs AI-driven algorithms to match individuals with severe or treatment-resistant mental illnesses to personalized care options. It then connects these patients with in-house psychiatric experts for appropriate medical assistance.

IndusTrack

Grant in 2021
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