August 12, 2022

Comcast RISE Awards $1M To Philadelphia’s BIPOC-Owned Businesses

Business accelerator program, Comcast RISE, has dedicated $1 million to supporting Philadelphia BIPOC-owned businesses. 

The program, which was initially launched in 2020 as a response to help small business owners of color who were impacted financially by the COVID-19 pandemic, will award more than 100 Philadelphia small businesses owned by women and people of color with $1 million in grants. 

According to a press release, Comcast RISE has distributed over $16 million in grants to early-stage businesses, and $75 million in in-kind support for marketing and technology services, impacting more than 9,500 entrepreneurs in 704 cities across 37 states. 

“As we continue to rebuild from the effects of the pandemic, small businesses still need our support. They are the backbone of our local communities, and we must take every opportunity to help them not only survive but thrive,” said Dennis Mathew, Comcast Regional Senior Vice President. 

“When we launched Comcast RISE in 2020, we knew a profound need existed in the communities we serve. Two and a half years later, we have seen first-hand how the resources from Comcast RISE benefit small businesses.” 

In addition to the financial and business support entrepreneurs will receive, a crucial part of the program will provide resources to help them build long-term sustainable companies.  

By the end of this year, Comcast has predicted over 10,000 businesses across the US will benefit from their business accelerator program, either through the grant program or from external resources provided through the advertising division of Comcast Cable. 

Kumba Kpakima

Kumba Kpakima is a reporter at POCIT. A documentary about the knife crime epidemic in the UK got her a nomination for the UK's #30toWatch Young Journalists of the Year.