Implementation of the CETF-Verizon Public Benefits Agreement on Small Business Investment
Verizon Small Business Investments
You are cordially invited to participate in a Listening Session on supporting Small Businesses that is being convened by the California Emerging Technology Fund (CETF) on Fridays throughout March and April from Noon-2PM.
CETF entered into a Public Benefits Memorandum of Understanding (MOU) with Verizon to invest at least $500 million in California over the next 5 years. Your input in response to the questions for the conversation will inform an Action Plan Framework being developed by CETF for approval in June to submit to Verizon. Representatives of the California Public Utilities Commission (CPUC), California Department of Technology (CDT), and Cal Advocates are invited to attend the Listening Session to hear all of your input.
CETF encourages you to register for these Listening Sessions.
Questions for Listening Sessions
• What are the barriers for small businesses not addressed by the Verizon Programs?
• Do you have challenges in finding employees?
• What assistance will be the most helpful?
• How can you reach and engage small businesses in the Verizon Programs?
• What kind of support do you need to optimize the benefit of the Verizon investment?
Verizon Briefing on the Digital Ready and Small Business Accelerator Programs
We highly recommend that you view the Verizon Briefing on the Digital Ready and Small Business Accelerator Programs in advance of the Listening Session. Below the video you will find the linked presentations.
Materials from Verizon Briefing on Digital Ready and Small Business Accelerator Programs
• Verizon Small Business Supplier Accelerator Overview
• Verizon Small Business Digital Ready Overview
Excerpt from the CETF-Verizon MOU on Small Business Commitments
Verizon agrees to develop, invest in, and expand programs such as its Small Business Supplier Accelerator and Small Business Digital Ready programs. Specifically, Verizon commits to spend $5 billion nationally with small business suppliers over the next 5 years. CETF has urged Verizon to commit a certain amount of this national investment in California, given its significant population size and its importance as a market. . . Over the 5-year period, Verizon commits to spend at least $500 million of the dedicated $5 billion in California. If the CETF outreach directly results in the disbursement of $100 million or more in contractual commitments to California small business suppliers, Verizon will endeavor in good faith to spend an additional $150 million of the program’s disbursements on top of the promised $500 million (for a total of $650 million) in California over the 5-year period.