Morgan Stanley’s Institute for Inclusion and the Morgan Stanley Supplier Diversity Program have set up the inaugural class of the bank’s Small Business Academy, a press release said, which will promote equity and diverse leaders of small business.
The initiative will help small businesses improve procurement, business acumen and their professional networks.
The report says the classes are 12 weeks long, virtual and facilitated by instructors. Then there’s a yearlong mentorship program.
Ten small businesses were selected for the program: Blu Fable, a creative content agency; Hootology, a market research company; Impact Consulting, a management consulting firm; InnovatorsBox, a workplace consultant; IT Creative Labs, a software company; Runaway Train Productions, a video producer; Sam’s Word, a digital design and marketing agency; Solvitur Systems, a cybersecurity firm; The Posture People, a workplace health consultant; TLZ Architecture DPC.
“We are proud to welcome the Academy’s inaugural class of 2022 and to see their businesses grow and develop through the program,” said Susan Reid, Global Head of Diversity and Inclusion with Morgan Stanley, and Director of the Morgan Stanley Institute for Inclusion. “The Academy is yet another step Morgan Stanley is taking to promote equity in society at large and expand business opportunities for diverse-owned businesses.”
See also: Morgan Stanley Doesn’t Think DeFi Growth Has Legs
PYMNTS wrote that Morgan Stanley had said recently that it thinks decentralized finance (DeFi) growth might slow down soon.
The report cites regulation and concerns with overcollateralization.
The report said there might be appeal to the idea of no middlemen, and proponents have said DeFi might be able to add to the financial system — but Morgan Stanley didn’t really see evidence of this.
“Rather DeFi protocols often seem to us as a way to attract cash flow to enrich the protocol operators,” the report said. “DeFi is hack-prone and at risk of financial crime given anonymity is a key feature.”