Ascend announced on May 12 it is launching an advanced training and support program to help small- and mid-sized companies participate more fully in the nation’s aerospace supply chain. The new phase of the program will focus on supporting Alabama-based suppliers, with backing from JPMorganChase and Boeing.
The initiative aims to help businesses that are critical to national security and economic resiliency, particularly those with annual revenues between $2 million and $10 million. These suppliers play a vital role in sectors such as advanced manufacturing, avionics, engineering services, maintenance, safety supplies, tools, and other key areas.
JPMorganChase is providing $4.5 million over three years to fund Ascend’s work at the University of Washington Foster School of Business. This funding will support three business cohorts by offering coaching, education, and connections to capital providers. “Ascend has always been about helping small and mid-sized businesses scale,” said Mo Malakoutian, Executive Director of the Consulting and Business Development Center at the Foster School of Business. “We have seen how the right mix of education, industry partnership, hands-on support, and access to capital can help companies grow. Ascend will help aerospace suppliers strengthen cybersecurity readiness, operational scale, and investment readiness so they can reach their growth goals.”
Alabama was chosen for its rapidly growing aerospace sector—particularly in Huntsville’s space technology corridor—and as part of JPMorganChase’s American Dream Initiative (ADI). The region hosts major industry players including NASA’s Marshall Space Flight Center as well as Boeing’s significant operations employing around 3,000 people.
Since its inception in 2017 more than 850 companies have participated in Ascend programs nationwide generating over $4.4 billion in new revenue through improvements in leadership development and market access strategies.
Program participants will convene for six months at Seattle’s Foster School of Business while also engaging virtually with business coaches—many drawn from MBA programs—and global consulting firms. Frank Hodge Dean of the University said: “This initiative reflects what the Foster School does well: connecting education research and industry to solve real economic challenges… They work directly with real companies facing growth challenges applying what they learn in the classroom while helping strengthen businesses.”
Boeing brings decades-long experience developing small business suppliers into globally competitive partners; it will provide technical assistance leadership training regulatory guidance strategic partnerships—and access to capital—for cohort members this year.
“A resilient aerospace supply chain depends on strong small- and mid-sized suppliers,” said Brian Lamb Head of Specialized Industries & Co-Head Impact Banking & Advisory at JPMorganChase who leads work in Alabama. “Ascend will help Alabama companies strengthen those fundamentals – connecting them to expertise and capital so they can grow sustainably.”
David Canada director Strategic Sourcing & Partnerships at Boeing added: “Supporting supplier growth development innovation through this cohort will help ensure our industry has a resilient robust agile supply chain.” Shaolee Sen Head Small Business Corporate Responsibility at JPMorganChase concluded: “We are proud…to expand this work alongside Boeing…to help local suppliers access resources expertise they need grow strengthen our nation’s supply chains.”
