Fostering innovation and empowerment in the neighbourhood economy
From an article by the Miller Center for Social Entrepreneurship
Innovation Works, located In the city of Baltimore USA, is focused on creating sustainable neighbourhood economies across the area. It has so far engaged over 400 social enterprises - actively supporting more than 160 and ensuring that 100% of supported enterprises serve or are based in majority Black neighbourhoods.
Through direct investment, mentorship, and a commitment to fostering dignity and inclusion, Innovation Works is making tangible strides toward reducing Baltimore’s neighbourhood and racial wealth divide.
Frank Knott founded Innovation Works on Ignatian principles and with ties to the Jesuit community. He is now trying to spread the model to other communities as co-founder of WeavingImpact.
Current President and CEO of Innovation Works, Jay Nwachu says, ” I grew up Catholic. When I heard about the faith-based aspect, it made the role more attractive to me because I felt that I could bring my whole self to the table. My faith also adds a greater level of accountability in my work.”
Jay has cultivated an environment where local entrepreneurs are supported to realize their visions for economic growth and sustainability. Through his guidance, Innovation Works promotes sustainable change, addressing systemic issues in underserved areas through entrepreneurship. Jay keeps his focus on the big picture by continually asking, “How do we leverage the resources inherent in the community to support each other and bring wealth to the community?”
They recently received funding from JPMorgan Chase philanthropic investment to tackle the city’s vacant homes crisis - stabilizing housing supply, promoting affordable homeownership, and driving small business growth and commercial corridor revitalization.
Jay Nwachu moved from the private sector into community development work, creating opportunities, and advocating for equitable economic growth. His leadership exemplifies a model of social entrepreneurship that prioritizes impact over recognition - leading without seeking the limelight but instead focusing on the tangible differences made in the lives of Baltimore’s residents.
Innovation Works’ vision for the future is bold and inclusive, aiming to support the launch and growth of 250 social enterprises, create 5,000 new local jobs, and attract $100 million to Baltimore’s neighbourhood economies. This vision, supported by a team of staff and a robust network of volunteers, underscores a commitment to excellence, integrity, and results-driven leadership.
As Innovation Works continues to grow and expand its reach, the foundation laid ensures that the organization remains a vital force for good in the community, fostering an ecosystem where innovation and social justice go hand in hand.
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From an article by the Miller Center for Social En, 09/10/2024