Today, we know that the biggest hurdle for women of color startups is access to funding. However, there are those who are working hard to break down this barrier.
Social startup Digitalundivided has announced a new initiative to help Black and Latina women access funding.
The 2022 Do You Fellowship is a year-long program aimed at supporting Black and Latina female founders to access the tools, resources, and networks needed to empower their businesses, the organization explained on its website.
Participants in the program’s second cohort will receive a $5,000 tax-free cash grant. In addition, educational support will feature business workshops led by industry leaders, financial counseling support, mentoring, and more.
Digialundivided’s initiative was launched in partnership with The Fifteen Percent Pledge, a non-profit organization that also avidly supports Black-owned businesses.
“The Fifteen Percent Pledge joyfully supports any and all opportunities for BIPOC founders and entrepreneurs to gain the tools needed to build sustainable and profitable businesses,” the organization wrote on its Instagram.
To be eligible to participate in Digitalundivided’s initiative, applicants must identify as female, Black or Latina (or both), be 18 years of age or older, have a registered business for at least one year, and be seeking investment.
Similarly, companies must have annual revenue between $250,000 and $500,000.
“Being a part of the Digitallyundivided Do You Fellowship meant the world to me and my business,” said Rachel Topping, Inaugural 2021 Do You Fellow and Founder of Nappy Head Club. “We grew almost 160% in revenue, we were on two NBC shows, we picked up seven new retailers and counting, we were featured in Black History Month campaigns with Refinery 29 and It Cosmetics, and the list goes on and on.”
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