Recently, the leading grant listing directory, GrantWatch.com, has released the new grant category BIPOC. The acronym BIPOC refers to Black, Indigenous, People of Color. Notably, a new study has found Black individuals and businesses face 6% more hardships in acquiring capital funding. As a result, a number of funding sources have emerged with the goal of closing this gap and making entrepreneurship more equitable.
Grants to Black-Owned Businesses and Entrepreneurs
1. Currently, there’s an opportunity to participate in a business accelerator program and receive investments up to $100,000. However, this opportunity is only available to Black-led startup companies and is in exchange for 20% of your company’s common stock equity.
2. BIPOC businesswomen and nonprofit leaders could be awarded grants of $10,000. This funding is to support fitness and wellness programs for the female BIPOC community. Eligible expenses can include marketing, operational, and business expenses.
3. Grants of up to $10,000 plus in-kind support is now available to Black women entrepreneurs. However, the funding is awarded only to support difference-making ideas and break down barriers caused by racial inequality.
4. Black business owners may be eligible for up to $10,000 in financial assistance and the opportunity to participate in a business accelerator program. The purpose of the program is to help foster entrepreneurial growth for Black business owners and facilitate their success as sellers.
5. In-kind support of marketing and technology services are available to BIPOC-owned small businesses in eligible states. While no monetary award is given, the in-kind marketing services are worth $10,000.
Grants to Black Individuals and Students
6. BIPOC filmmakers can now apply for grants of up to $10,000. This funding is to support both nonfiction and fiction film projects. Overall, between 20 and 40 winners will be chosen.
7. Black hospitality workers may be eligible for grants to support mental health services. This funding is to assist individuals working in the food and beverage industry to receive money for mental health services during the COVID-19 crisis.
8. Autistic adults and youth of color may apply for grants of up to $500. While the funding is to support individual needs, it may also be used for personal, professional, emergency, medical, academic and artistic needs.
9. Fellowships and stipends of $7,000 are now open to BIPOC students to acquire journalism experience. Moreover, the fellowship program supports students who are interested in careers that combine media, technology and journalism.
10. Canadian BIPOC small business owners, can apply for in-kind support and grants of $10,000. The funding is to support business growth, and business owners will be mentored in areas including leadership, operations, marketing, and sales.
Discover More Grants
Additionally, more grants for the BIPOC community can be found on GrantWatch.com. However, it’s important to remember not to limit your options. There are also many grants open to people of all color and races. Discover grants currently available for entrepreneurs, startups, women, small businesses, and more! For more information, you can also visit the GrantWatch FAQ page.