The New College Institute (NCI) received the 2025 SWaM Award: Highest Small Business Spend Percentage
Awarded by the Virginia Department of Small Business & Supplier Diversity
“I am extraordinarily proud of New College Institute’s achievements in receiving both the 2025 SWaM Award and the Student Innovator Award,” said Chairman of NCI’s Board of Directors Eric Jones. “These recognitions highlight NCI’s deep commitment to strengthening our Commonwealth by fostering equitable economic opportunities through our procurement practices and empowering students to lead with innovation, creativity, and purpose. These accomplishments reflect the dedication of our staff, the talent of our students, and the strength of the partnerships that support NCI’s mission.”
NCI Recognized with 2025 SWaM Award
At the Forum 2025 Supplier Connect Expo in Virginia Beach, NCI was honored with the 2025 SWaM (Small, Women, and Minority) Award for Highest Small Business Spend Percentage. This award, presented by the Virginia Department of Small Business & Supplier Diversity (SBSD), recognizes organizations that demonstrate exceptional commitment to supporting the small business category of SWaM-certified vendors.
“The Department of Small Business & Supplier Diversity congratulates the New College Institute for supporting small businesses in your procurements for Fiscal Year 2025,” stated Virginia Department of Small Business and Supplier Diversity Agency Head Willis Morris. “Awarding 54.4% of your discretionary spend with the small business community underscores your commitment to strengthening Virginia’s economy.”
At 54.4 percent, NCI not only achieved the highest discretionary spending percentage with small businesses across the Commonwealth, but also exceeded both statewide and internal SWaM spending goals. While the Commonwealth’s SWaM goal was 42 percent and NCI’s internal goal was 52 percent, NCI surpassed both by reaching an impressive 65.49 percent spend with certified SWaM vendors.
“We are incredibly proud of our Finance and Operations team for their commitment to supporting Virginia’s small, women-, and minority-owned businesses,” said NCI Executive Director Joe Sumner. “This recognition reflects our values in action, ensuring that our purchasing practices strengthen local economies and create equitable opportunities statewide. Achieving the highest SWaM spend percentage in the Commonwealth is a testament to our team’s dedication and to NCI’s ongoing mission to invest in the communities we serve.”
NCI’s strong partnership with the Minority Business Consortium (MBC) played a meaningful role in advancing this work. By providing a home for MBC and collaborating to connect education, business, and innovation to strengthen the region’s workforce and economic resilience, NCI helps expand opportunities for local entrepreneurs and strengthens the regional small-business ecosystem.
The facility also recently received the Student Innovator Award, which was awarded to NCI’s FIRST Robotics Team, STAGS Team 1262, by the Southern Piedmont Technology Council.
