تقرير CCWBE

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Ensuring that RI has a well-designed community engagement implementation plan and implementation in our target neighborhood, Englewood. To this end, RI has partnered with Teamwork Englewood and EG Woode to host our first community design charette on Saturday, March 23, 2024. It took more time than anticipated to bring the parties together and work through our respective time availability.

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We are participants in the University of Chicago Booth Social Impact Program who will complete a landscape analysis of businesses for sale and funding opportunities as part of their scope of work. This information is needed to finalize our overarching 2024 social acquisition strategy and it will not be completed until the end of March.

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Developing infrastructure for a hybrid cooperative model has underscored the importance of gaining a detailed understanding of the prospective business we intend to acquire and the dynamics of its workforce. This emphasizes the prerequisite of identifying and evaluating potential acquisition targets before finalizing the structure of the hybrid cooperative model. Through research and assessment of prospective targets, we aim to gather insights that will guide our approach to infrastructure development in the future.

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It was valuable to be introduced to DAWI. RI is a member of DAWI's co-op development training cohort.

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Category: Coalition Building RI has established a coalition consisting of the following organizations: 1) Manufacturing Renaissance- member of the MR EWS Advisory Committee 2) Project Equity- agreed to partner around acquisition, conversion and capital formation 3) MxD- joined as a member to gain assistance with acquiring advance manufacturing tools for business growth and reducing manufacturing companies carbon footprint 4) mHUB- RI is a member and housed at mHUB. This facilitates access to start-up innovation and intellectual capital 5) MTEC- as high-tech workforce development is critical for manufacturing companies; RI has entered into a very strong strategic partnership with MTEC to help train the workers of the future who can effectively negotiate the new digital economy 6) Teamwork Englewood- because Englewood is primary target community in 2024, RI has partnered with Teamwork Englewood to design and implement an effective community engagement process. 7) EG Woode- RI is partnering with EG Woode, a long-standing stakeholder and leader in Englewood, as well as design firm, to design our first community charette in March 2024 8) Chicago Community Trust- The CCT has provided support and encouragement to pursue our CWB strategy. 9) University of Chicago BSI- U of C awarded RI pro bono support to around identifying the specify vertical RI should acquire and convert to a worker-owned cooperative. 10) Obran- RI is in serious discussion about leveraging Obran’s capital fund to help acquire a manufacturing business. 11) Democracy at Work Institute (DAWI)- RI is a member of the 2024 Chicago Co-op Developer Training Cohort

RI faces certain constraints associated with internal capacity, particularly concerning the identification and engagement of technical service providers within the CWB community. The challenge lies in obtaining clarity regarding the level of commitment from these providers to collaborate with grantees. This aspect is crucial for effectively leveraging external expertise and resources to support the project's objectives.

RI has successfully capitalized on several opportunities aligned with our goals. We have established partnerships with key entities and individuals such as EG Woode, Teamwork Englewood, Project Equity, Manufacturing Renaissance, Bella Barner, and BSI. Notably, EG Woode and Teamwork Englewood contribute to community engagement efforts, fostering vital connections within the local community. Project Equity's involvement is instrumental in guiding our acquisition strategy and facilitating capital formation. Additionally, our membership in the Early Warning System Advisory System, hosted by Manufacturing Renaissance, enhances our capacity to identify manufacturing businesses available for acquisition. Bella Barner has provided invaluable insights as an advisor on our acquisition pitch deck, while BSI offers guidance on our acquisition strategy.

In our strategic efforts related to acquisition and conversion, RI is actively conducting research and planning initiatives. As a key player in the cooperative community, RI, led by our Director of Operations, is committed to providing educational resources on governance and intellectual property to stakeholders within the cooperative sector. Our ongoing conversations with organizations like the Sustainable Economies Law Center reflect our dedication to conducting conversions with integrity and prioritizing the welfare of workers. Additionally, Director of Business Development Jamie Elder is leading financial modeling efforts and identifying business opportunities for acquisition, demonstrating our commitment to thorough planning and analysis in our acquisition pursuits.