ICIC’s 2025 Innovation Summit: Ingenuity, Community, and Growth

LOS ANGELES, CA, May 12, 2025 (GLOBE NEWSWIRE) — The Initiative for a Competitive Inner City (ICIC) kicked off the 2025 Innovation Summit on April 22nd in downtown Los Angeles with a Welcome Reception at the GRAMMY Museum, followed by a full-day conference on April 23rd, bringing together a diverse community of small business alumni, partners, and thought leaders for inspiring discussions and valuable insights. The summit’s location in the heart of Los Angeles was meaningful, given the city’s ongoing recovery after the recent wildfires and its role as the birthplace of ICIC more than 30 years ago. By gathering in this region, ICIC sought to contribute to the continued efforts to promote economic vitality and resilience in an area that has shown incredible strength and determination. Attendees embraced a distinct sense of collective strength and connection during this critical time, where collaboration and innovation are essential to driving business success.

Steve Grossman, CEO of ICIC, shared: “This event highlighted the resilience and strength of our community. Our collective commitment to innovation and growth continues to fuel small businesses and empower their success. Based on ICIC’s research, we learned that the integration of AI into business practices is transforming how companies operate. This conference created an environment in which small businesses could access the training, technology, and sense of community they need to build and grow their businesses.”

One of the key highlights was the kickoff of the Intuit More with AI Tour, which made its first stop at the summit. Attendees were given the chance to engage with AI-driven tools and explore how artificial intelligence can help small businesses improve efficiency, decision-making, and growth. The interactive sessions provided insights into how businesses can use AI responsibly to streamline operations and stay ahead in an increasingly competitive market. The Intuit More with AI Tour continues with upcoming stops in New Haven, CT and Boulder, CO, among others throughout the country.

Additional conference highlights included:

• Keynote Addresses:
  • Do More with AI – Responsibly Grow and Scale Your Team and Business – Anoop Sreenivasan, Vice President, Go-To-Market Technologies at Intuit, kicked off the summit, focusing on helping small businesses adopt AI to enhance productivity and streamline operations.
  • Unlocking Success Through the Power of Innovation – Brandon F. Shamim, Founder & Chief Strategist at Ascendant Solutions, discussed how innovation is unlocking new pathways for success across industries.
• Fireside Chat: Innovating for Social Good – Moderated by Jodie Lesh, Managing Director at Deloitte, with Laura Johnson from Kaiser Permanente, Vanessa Faggiolly from Amerisal Foods, and Andrew San Nicolas from Kingdom Causes Bellflower, this session focused on how institutions and local businesses are strengthening communities through innovation.
• ICCC 20th Anniversary Celebration – Diego Portillo Mazal, Director of ICIC’s ICCC program, celebrated the continued impact of the program, which has helped thousands of businesses raise capital and create jobs.
• Business Growth Marketplace – Featuring small businesses from ICIC’s alumni network, sponsors, and ecosystem partners, this marketplace provided an opportunity for collaboration and growth.
• Gentler, Kinder Shark Tank-style Pitch Competition – The competition showcased innovative products and services from small business owners who received live feedback from a panel of expert judges.
• Presentation of the Inaugural Intuit Innovation Award – The first-ever award was presented to Jones Software Corporation, recognizing their exceptional use of technology and innovation to drive business growth and impact.

The summit was filled with valuable networking opportunities, interactive workshops, and dynamic discussions, positioning attendees to return to their businesses with new ideas and connections to drive success.

We would like to express our heartfelt thanks to our funding partners, whose continued support makes events like the ICIC Innovation Summit possible. Their commitment to fostering innovation and growth in small businesses is invaluable. Thank you to Intuit, Kaiser Permanente, Bank of America, Chevron, FedEx, Regions Bank, Appleton Partners, Arctaris Impact Investors, Bain Capital, Boston Consulting Group, The Home Depot, East West Bank, and Santander for their vital role in advancing small business success.

About ICIC

Breaking barriers. Building businesses. Strengthening communities.  The Initiative for a Competitive Inner City (ICIC) is a national nonprofit dedicated to helping under-resourced communities and small businesses thrive through programming and research. Founded in 1994 by Harvard Business School professor Michael Porter, ICIC provides executive education, coaching, technical assistance, and access to capital to more than 3,000 businesses across the U.S. and Canada each year. Through its research and partnerships, ICIC facilitates private-sector investment and economic development, creating opportunities for small businesses and local economies. Learn more at icic.org.

Wall St Business News, Latest and Up-to-date Business Stories from Newsmakers of Tomorrow