Michael P. Verchot, Director, University of Washington Consulting & Business Development Center, “Economic Imperative for Growing Minority‑Owned Businesses”
Michael Verchot is the founding director of the University of Washington’s Consulting and Business Development Center and a Lecturer in the Marketing and International Business Department at the Michael G. Foster School of Business.
The Consulting and Business Development Center, founded in 1995, accelerates the growth of minority-owned, women-owned and other diverse companies by engaging undergraduate and MBA students on consulting projects with these firms and by offering executive education courses. The Center focuses its work in south Seattle and south King County, the Yakima Valley, and the Tri‑Cities. Since its inception, the Centers work has created and retained more than 100,000 jobs and increased small business revenues by nearly $150 million.
Building on the Center’s 3‑M model of management education, access to markets and access to money (loans and investments) the Center is launching the Ascend 2020 network in Atlanta, Chicago, Los Angeles, Oakland/San Francisco, and Washington, DC, in partnership with JPMorgan Chase.
Michael has received numerous awards for his work including Champion Award from the Northwest Mountain Minority Supplier Development Council (2017); The Boeing Company’s Supplier Diversity Global Solution Provider (2008); and the National Minority Business Advocate of the Year Award from the US Department of Commerce’s Minority Business Development Agency (2004)
Michael serves on the Washington State Community Advisory Board for JPMorgan Chase and the board of directors for PSP Children’s Foundation. Michael received his MBA from the University of Washington in 1995 and his undergraduate degree from Springfield College (MA).