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According to the Associated Press, Atlanta, GA-based venture capital firm Fearless Fund “faced tough questions from conservative judges” on Wednesday, Jan. 31, as it fought for its grant program to further support Black-women-owned businesses. As AFROTECH previously told you, Fearless Fund was hit with a lawsuit by Edward Blum and his American Alliance for Equal Rights (AAER) group in August 2023 on the basis that the fund was carrying out “explicit racial exclusion” and violated the Civil Rights Act of 1866.
PepsiCo and the National Urban League (NUL) are teaming up to provide financial support for Black-owned restaurants. According to a press release, the global food and beverage (F&B) leader has formed a partnership with the NUL to launch their Black Restaurant Accelerator Program, which has pledged to give 500 Black restaurant owners in 12 U.S. cities a total of $10 million over the next five years. Both entities’ support comes about following a tumultuous year for small Black-owned businesses that were impacted by the pandemic. “As the pandemic exposed existing disparities many minority business owners face, we saw a fundamental threat that could erase the decades of progress Black-owned restaurants have made,” C.D. Glin — Vice President, Global Head of Philanthropy at The PepsiCo Foundation — said in a statement. “This investment will help Black restaurateurs not only recover from the pandemic but set them on a path to long-term economic resilience. We are inspired by the progress...
Last year, AfroTech reported on the launch of American Express’ Coalition to Back Black Businesses committing $10 million to support Black entrepreneurship. Today, the group has announced that it’s continuing that mission by awarding 25 small Black-owned businesses $25,000 in grants to support their long-term success and resilience just ahead of Black Business Month. According to the grantees, this funding goes a long way in helping these businesses survive and thrive in the wake of the pandemic. “My business and life have done a full 180 since receiving support from the Coalition to Back Black Businesses program,” grant recipient Deandre Wade — owner of sports uniform company Fresh Sportswear — shared in a statement. “With the enhancement grant, I will be moving my business out of my living room and purchasing the tools and equipment needed to begin mass-producing our products.” The Coalition to Back Black Businesses launched last September after a tumultuous year of small...
Instagram’s @design and the Brooklyn Museum are partnering to announce their inaugural grant program that’s empowering Black creatives this year. The #BlackDesignVisionaries grant program officially launched today as part of a joint effort to amplify, center and invest in the Black design community. Founded with a mission to create an open, inclusive and safe space that’s inspiring for all, Instagram’s @design strives to uplift the emerging talent amongst Black designers whose work embodies the platform’s core design values. “@design is committed to uplifting underrepresented voices and championing inclusivity and accessibility, which is why we’re delighted to launch #BlackDesignVisionaries,” Ian Spalter — Instagram’s Head of Design — said in a press statement. “We hope that the craft, passion, and creativity of our grant committee and partners, as well as Instagram’s design values, will inspire designers to share their dreams with us.” The #BlackDesignVisionaries program will award...
U.S. food company HEINZ, The LEE Initiative and Southern Restaurants for Racial Justice (SRRJ) have all partnered together to reemphasize the cultural significance behind our country’s Black-owned restaurants. The collective effort of all three organizations has culminated into a grant program and a slate of resources to help these Black-owned businesses maintain their thriving restaurants and preserve Black culture in America. “It’s no secret HEINZ has celebrated the role food plays in our communities, especially in diners and restaurants, for as long as we’ve been around. But entrepreneurship is also in our brand DNA and has been one of H.J. Heinz’s core values since day one,” said Molly White — general manager and VP, Taste Elevation at Kraft Heinz — said in a statement. “Black-owned restaurants are critically important to communities across the country and we saw this as an opportunity to help ensure these businesses thrive for years to come. We’re proud to kick off a...
The NBA Foundation has announced a second round to distribute funds from its $3 million grant program to help generate more career and employment opportunities in Black communities as well as use its influence to drive economic empowerment. “The grants will enhance and build upon the important work of these national and local organizations that align with the NBA Foundation’s mission to provide skills training, mentorship, coaching and pipeline development for high school, college-aged, job-ready and mid-career individuals in Black communities across the United States and Canada,” the league told CNBC. According to an announcement from the NBA, nine organizations have been selected to join the foundation’s second grant round — Big Brothers Big Sisters of Miami, Braven, Center for Leadership Development, City Year, CodeCrew, The Collective Blueprint, NAF, New Heights Youth and Road to Hire. Following the high-profile murders of individuals like George Floyd last year, teams from...
During the summer of last year, at the height of the social justice reckoning, Michael Jordan and the Jordan Brand announced a $100 million pledge to support the Black community over the next 10 years. This week, the two entities are continuing that mission by launching the first cycle of its newly-launched Community Grants program — which aims to provide $1 million in grants to local, grassroots and social organizations that are striving to create a more equitable future for Black America. “Since announcing our commitment to the Black community in June of 2020, we’ve been focused on two things — action and impact,” Craig Williams, President of Jordan Brand, shared in a statement. “I’m excited about the impact these grants will have in local communities. We know that when we create positive change for the Black community, it benefits everyone.” According to a blog post from Nike, the first round of Community Grants — which are Facilitated by Rockefeller Philanthropy Advisors — are...
Black businesswomen have been the highlight of Women’s History Month this year, and now one of the music industry’s brightest stars is pitching in to help support these women. Grammy-nominated artist Brent Faiyaz has launched a new grant program alongside his latest music video, “Show U Off,” to pledge support toward today’s Black women entrepreneurs making moves. The Show U Off grant program is offering $50,000 in funds to these Black businesswomen as a small investment in their professional ventures. Qualified applicants for the grant program must record and submit a one-minute video introducing themselves and their business/startup, discussing any challenges their business has encountered and how the grant money will help support them. Courtesy Graphic Video submissions should be sent to showuoff@thehintongroup.co by 1 p.m. EST on March 16. Five winners will then be selected and announced by Brent and his team next week. Check out the newly released music video below:
In honor of Women’s History Month, Visa has announced a new locally-focused joint program with Black Girl Ventures to help digitally enable Black and women-owned small businesses across the U.S. The program — She’s Next — offers $10,000 grants and a one-year IFundWomen Annual Coaching Membership to 60 Black women-owned businesses. It aims to address the needs of local entrepreneurs who populate cities with the highest concentration of Black-owned businesses in America – including Atlanta, Chicago, Detroit, Los Angeles, Miami and Washington, D.C., a press release shares. The new slate of programming includes grants and mentorship, new educational and technology resources, as well as direct community relationships in partnership with Black Girl Ventures. “Black Girl Ventures is proud to partner with Visa to assist these entrepreneurs and provide a megaphone to each community’s most pressing needs,” said Shelly Bell, founder of Black Girl Ventures, in a statement. “While the Black...
SheaMoisture is extending grace to Black women creatives in honor of Women’s History Month this year with the introduction of the Emerging Visionary Grant — a program dedicated to supporting women who are using their art to make a difference in their communities. The Emerging Visionary Grant — a $50,000 funded opportunity — is meant to amplify the voices of modern Black women and “empower and nurture the change makers who are creating history while servicing their communities.” The grant program — in partnership with cultural education platform Good Mirrors — is open to Black women artists, filmmakers, writers, and more across other creative areas. The ideal candidate is a creator who’s in the process of building up their influence in their community and has an existing platform filled with work that showcases how they’re uplifting it. Courtesy Photo Applications for the grant program close today, and those interested can apply here. A judging panel comprised of Good Mirrors and...
The American foodscape has proven to be a fruitful industry full of opportunities for Black and brown entrepreneurs. To celebrate the country’s forward-thinking food leaders, the James Beard Foundation — a nonprofit that acknowledges, nurtures, and honors chefs and other leaders in American food culture — has launched a new grant initiative to help provide financial resources for Black and indigenous-owned food or beverage businesses impacted by COVID-19. View this post on Instagram A post shared by James Beard Foundation (@beardfoundation) According to Black Enterprise , the James Beard Foundation Food and Beverage Investment Fund will offer grant funds to several businesses across the country. In partnership with their Open For Good campaign, which launched back in April, the foundation’s latest initiative is working to “rebuild an independent restaurant industry that is stronger, more equitable, more sustainable, and more resilient post-pandemic,” according to their blog . “The...
As many Black business owners continue to face financial hurdles amid the pandemic, more major companies are pledging their support through funding programs and ongoing initiatives. This week, American Express announced the launch of a newly formed group called the Coalition to Back Black Businesses . With the announcement came a $10 million commitment to fund a grant program in support of small Black business recovery in America over the next four years, a press release reports . View this post on Instagram A post shared by American Express (@americanexpress) In a one-of-a-kind collaboration with four major Black chambers — U.S. Black Chambers, Inc., National Business League, National Black Chamber of Commerce and Walker’s Legacy — American Express plans to support efforts to help get Black businesses back in good financial standing to keep them afloat. Black communities across the U.S. have been disproportionately impacted by the effects of the pandemic, with Black businesses...
Businesses around the world are taking a major hit in revenue amid the coronavirus outbreak as many are forced to close for public safety. While the future of small businesses over the coming weeks and months remains uncertain, Facebook is stepping in to provide support for those who may be impacted by the global pandemic. Facebook made an announcement on Tuesday that they will be creating a massive $100 million grant program to help out small businesses during this crisis. The company will be reaching out to 30,000 businesses in the 30 countries in which Facebook operates. “We want to do more. Teams across our company are working every day to help businesses. We’re looking at additional ways to host virtual trainings – and will have more to share in the coming weeks – and we’re finding more ways to help people connect and learn to use technology through Blueprint, our free e-learning training program,” company COO, Sheryl Sandberg, said in a Facebook post. As the COVID-19 outbreak...