University of Chicago

Strengthening Local Supplier Participation Through Supplier Readiness

The University of Chicago partnered with Next Street to expand economic opportunity for South Side businesses by increasing participation in institutional procurement opportunities.

Through the University's UChicago Local initiative, Next Street helped local businesses build the capabilities needed to compete for contracts with the University and University of Chicago Medicine.

Our Approach

• Delivered supplier readiness training and business advising

• Built operational and procurement capabilities

• Connected local businesses to institutional opportunities

• Supported broader community economic development goals

Results

• 20 South Side businesses supported

• $400,000 in realized revenue opportunities generated

• $5M in near-term contract revenue potential identified

Next Street Solutions

• Supplier Readiness Tool: A data-driven tool to evaluate supplier readiness, identify gaps, and prioritize the suppliers most likely to perform. See how the tool works (link to supplier readiness tool landing page)

Impact
Strengthened the local supplier ecosystem while expanding economic opportunities for neighborhood-based businesses.