Here Are The Grant And Funding Opportunities Founders Of Color Should Not Miss Out On
Black entrepreneurs know the climb to getting substantial funding from investors can be practically a vertical ascent. Venture-backed founders tend to all look the same with 73 percent of all founding teams composed exclusively of men while 60 percent of founding teams are exclusively White.
But here at POCIT news, we believe our community of great founders, engineers, and designers can do it all and our job is to provide you with insight, tips, and timely news.
We’ve compiled a list of all the places you can get funding as a person of color.
Cultivate Pitch Competition: Closing the Wealth Gap
In partnership with AARP, Mastercard, and Franklin Templeton, The HBCU Founders Initiative is hosting the Cultivate Pitch Competition: Closing the Wealth Gap. The virtual event taking place on November 12th targets Pre-Seed and Seed Stage companies aimed at reducing race, gender, and/or generational wealth and income gap disparities.
Funding amount – $5K-$15K
Deadline – 11/12/2021
How to apply – https://www.hbcufi.org/pitch-competition
Home for Dreams Initiative
A mentorship and grant program designed to support Black-owned businesses that have physical products.
Funding – $25K
Deadline – 11/12/2021
How to apply – https://www.parachutehome.com/mentorship
Tory Burch Fellows Program
The year-long Tory Burch Foundation Fellows Program offers 50 women entrepreneurs a $5,000 business education grant, virtual education resources, and workshops, an unparalleled community of founders and access to a premier online networking platform. The Program has empowered entrepreneurs from diverse industries across the United States.
Funding amount – $5K
Deadline – 11/12/2021
How to apply – https://fellows.toryburchfoundation.org/prog/2022_fellows_program/
AfroPunk x Shopify: Black Fashion Accelerator
AFROPUNK is partnering with Shopify to bring you the Black Fashion Accelerator—a catalyst for Black creative potential and expression. This program seeks to find, develop, and platform exceptional Black founders in the fashion industry, investing in their success at every step of the entrepreneurial journey.
Through our application process, the Shopify and AFROPUNK Black Fashion Accelerator will source nine trailblazing fashion entrepreneurs from the AFROPUNK community, to take advantage of this meaningful growth and mentorship opportunity. Over a six-month period (starting January 2022), we will tell your entrepreneurial stories; provide tangible, actionable business learnings, tools, and resources; and offer a sustainable business roadmap to supercharge your success.
Funding – $5K
Deadline – 11/14/2021
How to apply – https://afropunk.com/shopify-black-fashion-accelerator/
Collaborator of the Year Grant
HerHeadquarters proudly introduces the Collaborator of the Year award. A woman-owned business representing HerHeadquarters’ values of supporting and collaborating with fellow women-owned businesses will receive a $5,000 check, an award to mark the milestone, and a variety of gifts & vouchers from our partners.
Funding – $5K
Deadline – 11/15/2021
How to apply – https://herheadquarters.lpages.co/
AppSumo Black Friday Fund
“Here at AppSumo, we want entrepreneurs, underdogs, and creators to take back the BIGGEST sales day all year. If you have a digital product to sell like software, ebooks, or online courses—this one is for you. Submit your product on AppSumo before Nov. 17th to hit the jackpot. The sooner you launch, the better. You can earn big from an anticipated 2-3x boost in sales volume and 4x traffic during the event.”
Funding – $2500-$10K
Deadline – 11/17/2021
How to apply – https://sell.appsumo.com/black-friday-fund
The Legacy Classic HBCU Startup Pitch Competition
The Legacy Classic HBCU Startup Pitch Competition is about finding and rewarding entrepreneurial excellence while also shedding light on the VC fundraising process. Over the coming weeks, Serena Ventures and MaC Venture Capital will work together to identify the most promising early-stage startup companies founded by current HBCU students or alumni. Ten semi-finalists will be chosen to pitch their startups to a group of top venture capitalists and receive detailed feedback from this experienced group of investors.
Three finalists will be invited to a live pitch in front of an HBCU audience and top partners at Serena Ventures, MaC Venture Capital, Harlem Capital, and Cake Ventures. One winner will be rewarded with a $1M investment from the participating VCs during the live Legacy Classic on December 18th.
Funding – varies
Deadline – 11/18/2021
How to apply – https://prucenter.com/legacy-classic-startup-pitch
