What is the Black Founder Startup Grant?
Black Founder Startup Grant. The Startup Grant program from the SoGal Foundation and other sponsors provides grants of up to $10,000 to Black and multiracial women and nonbinary entrepreneurs. The program accepts applications on a rolling basis and is open to entrepreneurs with a legally registered business who plan to seek investor financing to scale. 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.
Selected startups will receive between US$50,000 and US$100,000 non-dilutive cash awards, and up to US$200,000 per startup in Google Cloud credits, support in the form of training, and access to a network of mentors to assist in tackling the challenges unique to each startup.
SoGal aims to equip Black women to be able to solve some of the world’s largest unmet needs and have a legacy of reinvesting in Black communities, and further help in the creation of intergenerational wealth. The accessibility created for Black women starting their own businesses can in turn help develop the community they live in, create jobs, and open a pathway for other women to be empowered in their business choices and idea. The awardees of SoGal Grant also get access to a lifetime “ask-me-anything” access to the SoGal Foundation and SoGal Ventures teams.
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.