COLAB Honored to Be Named One of the Nation’s Fastest-Growing Companies by ICIC

Morgan Witham author photo
Morgan Witham Chief Executive Officer

We’re thrilled to announce that we have been named one of 2023’s Inner City 100 (IC100) winners by the Initiative for a Competitive Inner City (ICIC) for the 6th year. This award recognizes and praises the fastest-growing businesses stationed within the under-resourced communities of the U.S.

Photo of IC100 2023 Winners

This year’s IC100 winners were assessed based on their revenue growth from 2018 to 2022. We are proud to share that COLAB, secured the position #66 on the list. This ranking is attributed to our four-year revenue growth rate of 81%.

The official announcement of the IC100 list was made during ICIC’s 2023 Annual Conference. To view a complete list of the 2023 IC100 award winners, click here.

In 2023, small business owners redefine success amidst funding, economic, and societal challenges. Their journey is marked by resilience, seizing opportunities, and fostering community bonds. The 2023 Inner City 100 award winners used innovation and collaboration to not only survive but thrive. They pivoted, adapted, and transformed their businesses, embodying the entrepreneurial spirit. We applaud their grit and determination and stand in awe of their achievements.

Steve Grossman Headshot

Steve Grossman
CEO of ICIC

2023 IC100 Winners By the Numbers

From 2018 to 2022, the 2022 Inner City 100 companies averaged 454% revenue growth and created 2,781 total jobs. Of these 100 winners,57% are BIPOC-owned/led, and 50% are woman-owned/led, the latter of which ties last year’s record high-number in the program’s 25-year history.

Cities Represented: 54
States Represented: 26
Industries Represented: 23
Woman-Owned/Led: 50%
BIPOC-Owned/Led: 57%
Veteran-Owned/Led: 3%
LGBTQ+-Owned 4%
First-Time Winners: 31%
Hall of Famers (won IC100 5 or more times) 24%
Average Four-Year Revenue Growth Rate: 454%
Average 2022 Revenue: $12M
Total Jobs Created (2018-2022): 2,781

About Initiative for a Competitive Inner City (ICIC)

Recognizing that concentrated poverty exists within metropolitan areas outside of big cities (and that poverty overall is suburbanizing), ICIC has revised its definition of an inner city (or under-resourced area) to encompass large areas of concentrated poverty in suburbs and smaller central cities as well as the large cities on which it has historically focused. The new “inner city” definition that ICIC has developed includes large low-income, high-poverty areas located in the urban and suburban parts of all but the smallest metropolitan areas. Every year, ICIC identifies, ranks, and awards the 100 fastest-growing businesses located in America’s under-resourced communities. In 2023, companies were selected and ranked by revenue growth over the four-year period between 2018 and 2022.

ICIC IC100

Initiative for a Competitive Inner City (ICIC) is the widely recognized authority on accelerating small business growth in under-resourced communities. ICIC drives inclusive economic prosperity through focused technical assistance and world-class research. Founded by renowned Harvard Business School professor Michael Porter in 1994 as a research and strategy organization, today ICIC drives inclusive economic prosperity in under-resourced communities through innovative research and programs to create jobs, income, and wealth for local residents. Learn more at www.icic.org.