On February 21, 2007 the Center for Women's Business Research and Babson College's Center for Women's Leadership kicked off its multi-year research project entitled Accelerating the Growth of Businesses Owned by Women of Color. Sixty-one women of color business owners filled the Juniper Room of the Marriot Courtyard, in downtown Philadelphia, for an event filled day. Dr. Donna Stoddard, Associate Professor of Information Technology Management at Babson, presented a case study specifically created for this project, and Elizabeth Thornton, both an Adjunct Professor at Babson and a woman business owner of Entrepreneurship Advantage Inc., gave a presentation on Strategic Planning for Sustainability and Growth. Research participants interacted with one another in small groups to identify obstacles which hinder their companies' growth in both number of employees and revenues, and came up with strategies to overcome the obstacles. Participants also focused on growth barriers in their communities and at the national level.

Three women of color business owners, Faye Coleman, Westover Consultants; Magdalah Silva, DMS International, Inc; and Joyce Takiguchi, ComStar International; discussed the barriers they have faced in the development of their companies, and how they overcame them. At the conclusion of the panel, participants were able to ask questions of the panelists.

A networking reception sponsored by UPS Capital & Verizon ended the day. Wal-Mart Stores, Inc./Sam's Club, UPS Capital, Wells Fargo, American Airlines, Avaya, Best Buy, IBM, Level Playing Field Institute, MasterCard, Principal Financial Group, Verizon, Wachovia, National Women's Business Council, National Association of Women Business Owners, Women Presidents' Organization, Women's Business Enterprise National Council, Women's Leadership Exchange, Association of Women's Business Centers, American China International Foundation, Women's Business Development Center-Philadelphia, Westover Consultants Inc., Opportunity Capital Partners, Legacy Bank and Babson College, were recognized for their contribution to this ground-breaking initiative. All the participants made connections, gained valuable information and knowledge and contributed to other women of color business owners by giving their time and talent to the research.