The Latinx community is a driving force of economic growth in the United States. As well, Latinos are intertwined with the fabric of American society. Yet, despite their contributions in building the country, the Latinx community has often been excluded from the economic, social, and political resources necessary to catalyze opportunities for greater growth.
Everything you need to know about Mark L. Madrid
The child of migrant farm workers and former corporate banking executive, Mark L. Madrid, CEO of the Latino Business Action Network (LBAN), has directly experienced firsthand the numerous ways in which the Latinx community strengthens the United States.
Mr. Madrid has been working as CEO of LBAN for over three years and is official member of the Forbes Nonprofit Council. Along with being the Founding Member of Silicon Valley Business Journal Leadership Trust, Madrid is an Honorary Colonel of the United States Army and the creator of the Mark L. Madrid Scholarships.
He was previously linked with the Greater Austin Hispanic Chamber of Commerce as President and CEO from 2014-2017. Under Madrid’s leadership internationally recognized entities like Wells Fargo, FOX Corporation, Bank of America, and Stanford Graduate School of Business have collaborated with LBAN.
In 1995 Mr. Madrid earned his Bachelor’s in Business Administration (BBA) with honors from The University of Texas at Austin, where he earned designation as Endowed Presidential Scholar. Later, in 2012 (-2015), he completed his Masters of Non-Profit Administration with distinction from the University of Notre Dame Mendoza College of Business.
The transition to his nonprofit career
However, before associating himself with the nonprofit world, Madrid’s journey to success started on Wall Street, where he worked for J.P. Morgan. Unfortunately, the dreadful period of the Great Recession and a decline in the national economy forced him to shut down a bank in 2009. It was at this time that Madrid pivoted to advance inclusive economics and shine a national spotlight on Latino economic development. Additionally, as one of the top national LGBTQ business executives, he devoted his life to the economic inclusivity of the LGBTQIA+ community. Today, his legacy is rooted in championing economic equity and inclusiveness for all.
Madrid has a remarkable collection of philanthropic work for which he has received various distinctions and awards. The Jefferson Award, University of Notre Dame Rev. Theodore M. Hesburgh CSC Founder’s Award, Community Emerging Legacy Award by the University of Texas at Austin Division of Diversity and Community Engagement and the University of Notre Dame Mendoza College of Business Recent Alumni Award are just a few of the honors received. He was named one of the top U.S. Latino leaders by the National Diversity Council and was named the 2019 Silicon Valley Nonprofit CEO of the Year. Madrid is the 2020 Recipient of the Latino Leaders Maestro Award in the category of leadership for his lifetime accomplishments as a distinguished influencer in promoting Latinx entrepreneurship and for his legacy as advisor, entrepreneur, diversity business promoter, and civic champion, all which place him as one of the most exemplary Latino leaders in the United States.
LBAN (Latino Business Action Network) collaborates with Stanford University to champion the Stanford Latino Entrepreneurship Initiative. LBAN’s goal is to double the number of $10+ million, $100+ million, and $1+ billion Latino-owned businesses by 2025.
LBAN funds the most comprehensive research in the United State on Latinx entrepreneurship and collaborates with Stanford Graduate School of Business Executive Education on the Stanford Latino Entrepreneurship Initiative Education-Scaling Program. To qualify for the scaling program, a U.S. headquartered Latinx entrepreneur must generate over $1 Million in annual gross revenue and/or must have raised over $500,000 in external sources of funds.
To date the 584 Latinx entrepreneurs graduating from the program generate over $3.02 Billion in combined annual gross revenue. LBAN’s goal by 2022 is to have over 1,000 (5,000 by 2050) graduates from the scaling program.
Madrid believes strongly that empowering Latino entrepreneurship is an American economic imperative.