Last Thursday, May 12th, Sinu was named to the prestigious Inner City 100 list as the 15th fastest-growing inner city company in the US. Sinu was selected from over 2,000 entries because, in part, of the company’s exceptional growth of 65% over the past 5 years.
The Inner City 100 list is an annual ranking of the fastest growing small businesses in America’s urban centers. Compiled by the Initiative for a Competitive Inner City (ICIC), the list is now in its 13th year and gathers insight not only about what makes these firms successful, but also about what competitive advantages they have by setting up shop in inner city neighborhoods. ICIC, founded in 1994 by Harvard Business School Professor Michael E. Porter, is a nonprofit research and strategy organization and the leading authority on U.S. inner city economies and the businesses that thrive there.
“These are incredibly successful businesses with products that are crucial to today and tomorrow’s economy, and with business models that are run efficiently and well,” says Mary Kay Leonard, the president and CEO of the ICIC in a recent article from Fortune.
The firms represented on the list have shown, on average, a 30% year-on-year growth rate, she adds. “They are exactly the kinds of firms that we’re banking on to pull our economy and our recovery forward.”
Larry Velez, Sinu founder and CTO, was in Boston to receive the award last Thursday. “Dr. Porter created an amazing resource for urban companies and we are honored to be able to tap into ICIC’s expertise. Sinu has always been committed to being headquartered in New York City. While there are challenges intrinsic to being an inner city company, it offers so many opportunities – our staff is exceptional because we can tap into the city’s talented workforce and we bring our own experience to the table when developing solutions for our customers located in urban areas.”