Last year, GrantWatch.com released the new grant category BIPOC. The acronym BIPOC refers to Black, Indigenous, and People of Color. It should be noted, that recent studies have revealed 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 for BIPOC Business Owners
1. In-kind services and up to $10,000 is now open to small businesses to mitigate the damage of the COVID-19 pandemic. This grant is to help benefit entrepreneurs from BIPOC communities, women, immigrants, and others who have historically had limited access to financing for their business. (Deadline is soon: May 27, 2022)
2. 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.
3. BIPOC-owned small businesses can apply for micro-grants for capacity-building initiatives. Furthermore, the winner of the micro-grant winner will be selected randomly.
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. 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.
Grants to BIPOC Students & Entrepreneurs
6. Up to $2,500 and in-kind consultation services is now open to a high school senior, university, or trade school student to pursue entrepreneurial aspirations.
7. Autistic adults and youth of color may apply for grants of up to $500. This funding is for personal, professional, emergency, medical, academic and artistic needs.
8. Grants of up to $2,500 and in-kind services are open to entrepreneurs to start or expand their business. This funding is to support business start-up or growth-related costs.
9. Currently, there is an opportunity to entrepreneurs of color to participate in an accelerator program. The graduates will go on to participate in an investment accelerator or raise a seed round of up to $1 million.
10. Finally, grants of up to $10,000 plus in-kind support is now available to Black women entrepreneurs. However, this funding is awarded only to support difference-making ideas and projects that break down barriers caused by racial inequality.
Discover More Grants!
Additionally, you can find more grants for the BIPOC community at GrantWatch.com. However, it’s important to remember not to limit your options. There are also many grants open to people, regardless of color or race.