PBN 2021 Business Women Awards
Industry Leader Government/Quasi-Government: Doris Blanchard, SupplyRI
With diverse skills in banking, finance, economic development and networking, Doris Blanchard, assistant director of SupplyRI at the R.I. Commerce Corp., connects nearly 2,000 Rhode Island suppliers with large “anchor” institutions in the state, which commit to purchasing goods and services from those suppliers.
Launched in 2018 by then-Gov. Gina M. Raimondo, SupplyRI is a public-private initiative funded by R.I. Commerce, the Rhode Island Foundation and the Heron Foundation. Amica Mutual Insurance Co., Citizens Bank N.A., Lifespan Corp., Care New England Health System, and Shawmut Design and Construction are among 15 current anchors.
Early in the COVID-19 pandemic, SupplyRI’s survey of anchors’ needs and suppliers’ goods and services proved valuable.
“We put together a list of suppliers under different categories – PPE [personal protective equipment], IT [information technology] services for Zoom, outdoor heat lamps, etc. The pandemic has shown us … that Rhode Island businesses have the capacity to meet our needs,” Blanchard said. “By opening doors and connecting small businesses with larger buyers in the state, we have increased revenue and more jobs. We plan to expand our pool of diverse suppliers and increase our footprint across all sectors.”
Since the start of the pandemic in March 2020, more than $108 million in contracts have been awarded, a significant increase from the $3.5 million in contracts awarded before the crisis. SupplyRI offers workshops, surveys, and training and networking sessions to suppliers, some 20% of whom are minority-, women-, or veteran-owned business enterprises.
“Doris is a special human being … she has the ability to connect with thousands of suppliers and with anchors’ executives to communicate the value proposition of SupplyRI,” said R.I. Commerce Corp. President Jesse Saglio. “She has a vision for what SupplyRI can be.”
Blanchard also manages the Small Business Assistance Program, which leverages state funds with capital from private lenders to provide community-based funding to Rhode Island for-profit companies with 200 or fewer employees.
As of December 2020, $4.3 million in state funds had leveraged $20.8 million in loans to 158 small businesses since the program’s inception in 2016 under Raimondo. More than half of those loans went to minority-owned and women-owned businesses, said Blanchard, who noted that funds are still available for interested businesses. Community Investment Corp., Rhode Island Capital Access and Social Enterprise Greenhouse are among the six community-based lenders that make microloans of $2,000 to $25,000 or small loans of more than $25,000 to $250,000.
“My passion is to provide resources, connections and programs so that small businesses can grow and scale up … financial literacy is a big resource, especially for minority companies,” Blanchard said. “We work with many great partners in the state that provide valuable resources, but we need easier ways to navigate them.”
By collaborating with colleagues at other states’ economic development corporations, Blanchard identifies successful programs and adapts them to Rhode Island’s needs. For example, grant funds support analyzing the revenues of a cohort of SupplyRI participants to evaluate their progress.
Comfortable with being mentored and mentoring others, Blanchard meets weekly with Brontë Dinges, SupplyRI strategic sourcing program coordinator, to discuss Dinges’ job satisfaction, career goals and more.
“Whatever you learn to make you successful, you need to share those skills with others; that’s the beauty of leadership,” Blanchard said. “I love to empower women.”
Blanchard also serves as R.I. Commerce’s liaison to the R.I. Department of Transportation, R.I. Emergency Management Agency and R.I. Alliance for Business Reliance.
“Doris brings her analytical and financial acumen to her soft skills … she is incredibly likeable. That well-rounded skill set is an important part of her success as she continues to advance,” Saglio said. “Doris, who is very much out in the community, inspires people to get involved.”
