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Those seeking funding for their small business have the debt-free option of applying for startup business grants or small business grants. These grants are typically awarded by government entities, private organizations or corporations and, unlike loans , are not expected to be paid back. There are incentives for these companies and organizations to award these grants, as the new businesses could create economic growth or support a certain cause/research topic (like social or environmental) that one of these entities is interested in. These grants are highly competitive and have very specific requirements that must be met before they are awarded. Most likely, applicants will need to prepare by verifying the eligibility criteria, funding amount, application deadlines and any restrictions of a grant that their business aligns with. Also, ensuring the applicant’s business is specific enough to the grant’s requirements is very important . Doing so ensures the applicant has a better...
Although many business owners have access to millions of dollars in government grants every year, accessing government grants still remains a resource that is not used as often as it should. Many people are under the impression that the grant process is too complex. Today, probably now more than ever, business owners should be taking advantage of the opportunity when it presents itself. A government grant can be an incredible thing for your business , but you have to know how to get one. With the various rules and regulations surrounding government grants, it may seem easier to find a PS5 or an Xbox Series X than apply and get approved for a government grant. For those who have never applied for a government grant, we understand the process can be extremely overwhelming. You may be thinking, “Will it be worth it to apply for a government grant?” The answer is a resounding yes! Here are a few tips for applying for a government grant. Tip #1: Have a plan The majority of grants are...
Attention small business owners, FedEx’s annual grant competition is underway and $50,000 is on the line. Since 2013, FedEx has been awarding entrepreneurs with hundreds of thousands of dollars in grants to kickstart their businesses. Business owners who have been operating for at least six months are encouraged to apply at smallbusinessgrant.fedex.com with their business name, FedEx account number, address, elevator pitch, and of course a very compelling story about their business. How did you get started? What’s special about your product? It’s also recommended you make a one-minute video describing your business and purpose. This will help in the long run. The entry period ends on March 2nd and soon after, voting begins. Share your entry with your fans to increase your odds of getting noticed. You and your fans can vote once every 24 hours through March 8. The grand prize winner receives a $50,000 grant plus $7,500 in FedEx print and business services. One second-place winner...
Y Combinator , a California-based investor that provides initial funding to startups, is offering a new schedule for the new year. According to TechCrunch, Y Combinator’s modified calendar will reflect updates to the once annual Startup School, which will now be offered several times per year . The move has the potential to push more startups through the investor’s online training process, which ultimately grooms them for Y Combinator’s accelerator program. Startup School is true to its name, offering startups video chats, lectures from industry leaders and company staff, access to other founders, and the ability to network with other startups. School culminates with a founder project demonstration, attended by investors and media representatives. Program alumni benefit not only from tutelage they receive, but also from their ability to apply to Y Combinator’s grant program. The program, which is currently being reassessed, has recently offered founders grants of $15K. Y Combinator...
The Kapor Center, an organization working to increase tech training and job skills to minority populations through funding and programs, has announced a new $1 million funding competition, hoping to “catalyze tech inclusion.” The Kapor Center is funded by the Bill and Melinda Gates Foundation, as part of the organization’s educational initiatives. The Oakland-based organization’s Tech Done Right National Challenge will provide grants ranging from $100,000 to $150,000 to individuals and organizations that can implement solutions to diversify the tech industry. “We prefer short sprints that enable a set of partners to quickly discover the viability of the proposed solution and allow for rapid iterations,” the Kapor Center said on its website. The Kapor Center is looking to provide funding for individuals who are “particularly interested in solutions centered on prototyping, experimentation, and rapid iteration cycles.” In 2018, the Kapor Center released Leaky Tech Pipeline — a website...
Epic Games — the makers of Fortnite — just announced its newest grant program to help fund developers, entrepreneurs, and educators who use its Unreal Engine. The grant could be a great chance for black game developers and techies to get their names out there. According to a Nielsen study , more than 70 percent of African Americans are likely to start gaming. However, this group is has a dismal population in the developer community. Another study by the International Game Developers Association said that the game development industry isn’t necessarily a welcoming a place and more than half said they witnessed or experience inequality on the job. Epic Games is extending the grants to a wide variety of professionals in an effort to enhance various industries. “There are many ways to build something incredible in or around the UE4 and 3D graphics universe,” Epic Games said . “For example, 3D digital creation tools, and learning materials about UE4 such as books, lesson plans, and...
Entrepreneurship is not easy and running a business is almost impossible without proper funding. In the beginning, many small businesses rely on grants to get started. If you’re not sure how or where to secure a grant, these seven resources are the best for black businesses. Grants.gov When looking for up-to-date information on grants being offered, the grants.gov database should be your #1 go-to. Here, you’ll be able to do an in-depth search based on the type of business you have, your needs, the type of grant you are searching for, and so much more. The website is very thorough, providing all the information you need to apply right there on the website. Minority Business Development Agency The Minority Business Development Agency (MBDA) holds annual grant and loan competitions and when they’re not holding competitions, you can visit your nearby Minority Business Centers for business consulting, financial counseling, grants, and more. FedEx $50K Small Business Grant Contest Since...