National Non-Profit, Founders First CDC, to award another round of grants to Texas businesses
The founders of the first CDC to award another $100,000 to minority businesses statewide to create and promote high-paying employment opportunities in underserved communities
DALLAS, June 24, 2022 /PRNewswire/ — Founders First CDC, a national 501(c)(3) nonprofit organization that enables the expansion of diverse founder-led income-generating businesses, announced the second wave of its Job Creators Quest grant , which will award $100,000 to support minority and underrepresented business owners across the state of Texas. The grant opened for submissions today and will remain open through July 25, 2022. Thirty grants will be awarded to businesses led by a variety of businesses located in the North, East Central, or South regions of Texas, with a staff of 2-20 employees and the ability to add 1-2 net new high-paying jobs over the next 12 months. To be eligible, the business founder must be Black, Indigenous, a person of color, LGBTQIA+, military veteran, female, or located in a low-to-moderate income area and be a for-profit business with annual revenue between $100,000 and $3 million.
The goal of the Job Creators Quest grant is to help business owners create high-quality, high-paying jobs and reward diversity-led businesses throughout Texas to retain and grow their workforce as we emerge from the pandemic and amid threats of economic recession. This will help to positively impact the local economy, create better paying jobs and provide the human capital necessary for business growth and expansion. This grant project was launched in early 2021. Since its launch, Founders First CDC has awarded more than $400,000 minority-owned and underserved business owners United States with particular attention to Texas, Chicago, Southern California, philadelphia cream and New Jersey.
“With the rising cost of living, it can be difficult for families, let alone business owners, to stay afloat, especially when it costs them more to provide goods and services to their consumers,” said Shaylon Scott, executive director of Founders First. “We are happy to be able to invest money and resources in hard-working business owners throughout Texas to help them thrive, even in times of economic uncertainty. Investing in diverse entrepreneurs is not only an effective way to create jobs, but also a critical way to close the general wealth gap in underserved communities.”
Funding for this program was facilitated by a $1 million national grant from the Rockefeller Foundation and in collaboration with the recent founders of First Capital Partners $9 million Series A funding accelerator to support underrepresented entrepreneurs in underserved communities across the country. Other national and regional partners include ADP, Black Enterprise, JP Morgan Chase, The Kauffman Foundation, African American Chamber of San Antonio, Bank OZK, BCL of TexasDallas BUILD Network, Divinc, Dallas Fort Worth MSDC, Fort Worth Hispanic Chamber of Commerce, Sesh Coworking, Impact Ventures, ICIC, Houston Hispanic Network, Lift Fund, PeopleFund, Margin Institute, Mogul Millennial, The Common Desk, The DEC, The Mass Challenge, INNW, Veteran Women’s Enterprise Center, Women’s Business Council and Wisdom Consulting.
Receiving the grant money was vital for the recipients, as it helped them grow their business in multiple ways. “When we signed up for the Founders First Texas Job Creators Quest grant, we thought it would just be a basic grant for creating quality jobs in Texas, but it turned out to be much more. The Founder’s First acceleration course was packed with incredible information that we immediately put to use to grow our business,” said Liz D’Aloia, COO of Koder Labs, 2021 grant recipient and Bootcamp program graduate.
Skilled business owners, especially those in Dallas-Ft. The penalty, Houston, Austinand San Antonio markets can visit https://foundersfirstcdc.org/texas to apply for the grant.
To apply for the business accelerator program, visit: https://foundersfirstcdc.org/programs/
Kayla Tucker Adams
SOURCE FIRST CDC FOUNDERS