The Los Angeles Business Council Institute announced Wednesday it is expanding its Compete4LA platform to help local small businesses compete for contracts tied to the 2028 Olympic and Paralympic Games, Super Bowl LXI and other major projects across the region.
The expanded initiative, supported by LA28 sponsors, will offer networking events, mentorship opportunities and other programs intended to connect small businesses with prime contractors, government agencies and employers involved in large-scale projects, according to the institute.
Compete4LA includes a searchable database of about 40,000 Los Angeles County small businesses with annual revenue of up to $5 million, officials said. The platform was developed in partnership with the USC Dornsife Spatial Sciences Institute.
“LA28, local government leaders and major event organizers are making an unprecedented commitment to hiring small businesses in the coming months and years,” LABC Institute President Mary Leslie said in a statement. “With a pool of 40,000 local small suppliers, Compete4LA starts with a strategic advantage, and our new initiatives give small businesses a further leg up by increasing access to contractors and professional resources to help them learn about opportunities and compete more effectively for contracts.”
The expanded platform will include a series of “Meet the Primes” events, where entrepreneurs can meet directly with contractors and procurement officials to learn about upcoming opportunities and the requirements for becoming approved vendors. A mentorship program pairing small businesses with larger contractors is also planned.
LABC Institute officials said the platform will also support contracting opportunities related to the expansion of the Los Angeles Convention Center and other major projects.
According to the institute, the LA28 Games are projected to generate about $17 billion in economic activity. Organizers have set a goal of awarding 25% of addressable procurement spending to small businesses in the Los Angeles region.