Black women entrepreneurs receive less than .5% of venture capital funding. We are standing up to help change that.
Black women founders are the fastest growing demographic of entrepreneurs out of any throughout history. These founders are best equipped to solve some of the world’s largest unmet needs, and have a legacy of reinvesting in their communities and creating intergenerational wealth. However, Black women entrepreneurs are met with the greatest barriers to accessing capital. This is bullshit.
This perpetual systemic discrimination, the unwillingness & inability of Silicon Valley and venture capitalists to effectively diversify their investments, the disproportionate effects of COVID-19 on entrepreneurs of color, and generations of inequities against Black people are absolutely inexcusable.
SoGal Foundation has teamed up with Winky Lux, bluemercury, twelveNYC, Twilio, Walmart.org’s Center for Racial Equity, and other sponsors to make a small step towards progress by providing several $10K and $5K cash grants to Black women or nonbinary entrepreneurs.
Awardees will also receive tactical help navigating the fundraising environment at large so that they will have a more equitable opportunity at scaling the next billion-dollar idea. They will also receive lifetime “ask-me-anything” access to the SoGal Foundation and SoGal Ventures teams. We know this is a small start, and we are hopeful that it will grow. We believe in a brighter future where the next world-changing business does not go unrealized because of systemic discrimination.
Eligibility
To qualify, you should:
– self-identify as a Black woman or Black nonbinary entrepreneur (inclusive of multiracial Black women and multiracial Black nonbinary folks)
– have a legally registered business
– plan to seek investor financing in order to scale, now or in the future
– have a scalable, high-impact solution or idea with the ambition to be the next billion-dollar business.
Benefit
$10k and $5k grants in cash
If you are a founder, venture capitalist, corporate, or other leader that wants to contribute in funding a grant to a Black woman or Black nonbinary entrepreneur, please emailsimona@sogalfoundation.com. Your contribution is tax-deductible. Black Lives Matter.
SoGal Black Founder Startup Grant Application
There is no need to include any additional information, as it will not be reviewed. Applications are rolling. If you have already applied, there is no need to apply again.
