Genesis Bridge Drives Local Economic Development and Connectivity
Genesis Block is excited to announce the completion of the first development phase of Genesis Bridge. Genesis Bridge connects entrepreneurs, small businesses, organizations and municipalities onto an easy to use software platform. This supports talent cultivation, information sharing and connectivity enabling more efficient economic development for communities.
Free registration here.
Genesis Bridge services create an organized system for verification of potential trade partners, business profiles and an easy to use messaging service. The primary goal of Genesis Bridge is to provide a collaborative platform to help communities organize their entrepreneurs, professional services and workforce talent into a productive regional supply chain.
Genesis Bridge Features
Benefits for Prime Contractors, Large Companies and Procurement Driven Organizations
In today's business climate there are several challenges facing organizations. Talent acquisition, skilled labor and a reliable network of partners to stabilize supply chains are three of the most critical. Genesis Bridge supports organizations that count on multiple partners, companies and talent to drive results with a balanced system for engagement and retention.
Local Vendor Sourcing
Local vendor sourcing is the process of vetting and selecting vendors in close proximity to the location of projects. This is the first step in the supply chain and the most crucial one because it determines the quality and the cost of the projects completion.
Genesis Bridge provides organizations with a multi-sector database of local companies and potential trade partners. Users will have the ability to access profiles of local vendors and connect directly with them on the platform. Businesses have profiles that allow them to upload certifications, credentials and capabilities statements. Contractors can easily vet potential trade partners and connect directly with potential vendors to determine if they match the needs of the project.
Contract and Bid Management
Communicating and sharing Request for Proposals (RFP,s) in order to find trade partners in a timely manner is a major challenge for contractors with large projects. General contractors must be mindful of subcontractor management challenges that complicate a project’s timely and accurate completion. Genesis Bridge allows users to post RFP’s, networking events and specific job postings directly to their profiles.
This allows organizations to target local vendors and subcontractors for bids in an environment with much higher potential for conversion. Genesis Bridge users are part of the Genesis Block ecosystem so this provides organizations with confidence that their bid postings will be viewed by qualified, trained and vetted trade partners.
Vendor Engagement Events
Conversations to Contracts is a unique vendor engagement event that coordinates regional entrepreneurship, contracting and workforce development ecosystems. Genesis Block organizes state, local government agencies, anchor institutions, economic development stakeholders and corporate partners. Local business owners, entrepreneurs, professionals and vocational talent complete the lineup of participants in the event designed to boost contracting opportunities and provide resiliency for the local supply chain.
In 2023, Conversations to Contracts netted over $350,000 in contract conversions at the events with over $250,000 in bid potential remaining in the pipeline. Genesis Block has set a goal in 2024 to build a $2.5 million contracting pipeline leveraging Conversations to Contracts as the catalyst for general contractors, large organizations, businesses and subcontractors to conduct business.
Benefits for Small Business Owners, Entrepreneurs and Trade Professionals
Whether you’re launching a new business or running an existing one digital marketing and online networking are critical to the success of a business venture. According to ThinkWithGoogle, 76% of people search on a smartphone and visit a related business nearby within a day. Genesis Bridge provides entrepreneurs and small business owners a digital profile to market their services and connect with clients. Conversations to Contracts provides a physical environment to market, grow and expand business networks.
Online Profile to Build Your Brand
The Genesis Bridge platform is similar to a social media networking site in that it connects you with industry peers, potential clients, educational materials and opportunities to build a business network. Businesses can develop a professional brand with the largest employers, companies and organizations in your local community. The U.S. Chamber of Commerce reports, 93% of today’s small business owners report using at least one type of technology platform to help run their business, with the average owner utilizing three different platforms. Genesis Bridge supports small business owners by connecting users to local partners, clients and brand development.
Develop New Markets and Networks
Breaking into new markets means reaching an even wider audience and developing more ways to generate revenue for your business. Expanding business networks and building new markets are important to the sustainability of companies. A recent survey by American Express reported that 76% of business owners are changing their business model or are in the process of pivoting to maintain revenue. Genesis Bridge is a free service for small business owners and provides user access to new markets. Genesis Block is supporting the development of local business networks consisting of entrepreneurs, local talent, professionals and contractors to organize into a regional supply chain. Genesis Bridge connects members of the network to increase collaboration, connectivity and economic development in local markets.
Instant Messaging with New Leads
Instant Messaging (IM) in business is growing and is one of the most effective strategies to generate new leads and convert them to clients. Genesis Bridge has an easy-to-use interface that expedites connecting with new leads, business contacts and contracting bids. Emails need a subject and context, but messaging is quick and informal providing an efficient way to generate new business.
Benefits for Government Agencies, Economic Development and Local Supply Chains
Supplier Diversity Management
Government procurement agents can play a huge role in supporting underrepresented groups by increasing supplier diversity. A HigherGov analysis of government contracting activity showed that federal contracts awarded in fiscal year 2023 reached a record high of $765 billion, reflecting a 9.5 percent growth from FY 2022. In some cases, government contract awards require a percentage of the spend allocated to diverse owned businesses. Genesis Bridge helps agencies connect with qualified vendors through the software platform and in person at Conversations to Contracts.
Local Economic Development
Local economic development is crucial to encouraging growth, creating jobs, and ensuring that residents have a better quality of life. When local economies thrive, it results in increased tax base, lower unemployment and increased community prosperity. This will then attract more businesses, leading to companies and entrepreneurs flocking to the city. Genesis Block uses the Genesis Bridge platform to organize the training, business development and commercialization of local entrepreneurs, business owners and professionals. Integrating all regional entrepreneurs, contractors and professionals onto one platform makes it easier to develop a resilient local supply chain for economic development.
Community Prosperity
What is community prosperity? Economists define prosperity as the stage in an economic cycle in which conditions of relatively low-unemployment and high total income prevail, leading to high purchasing power, if the inflation rate is kept low. Genesis Block defines community prosperity as a holistic effort combining community, collaboration and creativity as the formula to achieve success. Genesis Bridge provides a collaboration tool that all community stakeholders can access to use entrepreneurship, information sharing and idea exchange to achieve community prosperity.
Genesis Bridge Q & A
Q: I am a small business owner hoping to build a business network in order to generate leads, find collaborators and meet new potential clients. How does Genesis Bridge help me grow my network and build my business?
GB: The Genesis Bridge platform enables users to create their own business profile providing all the tools necessary to create a landing page promoting your business. Users can connect directly and message (permission required) within the Genesis Bridge platform allowing business owners a new way to generate business.
“Business owners can use this to expand more efficiently and cost effectively into new markets and cities. When you are researching an area to expand, you look for Contracts in that city, connect with the business directly and schedule out the work without the travel and added expense,” says Keesha Starr CEO of K Starr Coaching.
Business owners register here
Q: How do Prime Contractors and large organizations that manage subcontractors and are responsible for ensuring that the work is completed benefit from Genesis Bridge services?
GB: The biggest challenge for Prime Contractors is to find, secure and retain the talent necessary to successfully complete projects. The Genesis Bridge platform connects prime contractors with potential vendor partners. Users can post RFP’s and bids to their profile page and also interact directly on the messaging service. Conversations to Contracts provides a unique vendor engagement platform where prime contractors and potential vendor partners can meet face to face and deepen relationships. Certifications and achievements can also be verified and stored on profile pages making compliance management easier.
Prime Contractors register here
Q: How do government agencies, large organizations and economic development organizations benefit from Genesis Bridge services?
GB: Federal, state, and local government agencies offer supplier diversity programs for businesses owned and operated by those who would typically be underrepresented. A supplier diversity program is a business program that encourages using minority, veteran, women, or historically underutilized companies as suppliers. Genesis Bridge offers a structured database to manage and track underutilized companies. Conversations to Contracts offers vendor engagement opportunities throughout the year to stay connected and build new relationships. The platform also allows agencies to post bids, RFP’s and RFQ’s on their profile so firms can engage directly and respond.
Q: Why would financial partners, banks and community development financial institutions see value in Genesis Bridge services?
GB: Banks and financial institutions are committed to creating a level playing field for suppliers by building and maintaining relationships with diverse-owned businesses. Genesis Bridge supports financial institution in providing services to identify diverse-owned businesses that are committed to delivering the service, quality and value that defines their brand and promotes the economic growth of the local business communities they serve. Conversations to Contracts provides banks and financial institutions the opportunity to directly engage with local entrepreneurs and the businesses that drive Main Street.
Q: Do Genesis Bridge services help support talent and workforce development locally?
GB: Yes it does. For example, Manufacturers in the United States face a shortage of 3.8 million workers by 2033, costing $1 trillion in 2030. Genesis Block has established productive relationships with Cape Fear Community College and other leaders in workforce development. Genesis Bridge will manage and track local professional talent making it easier to access qualified individuals and companies to support economic development.
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