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Democratizing the Friends & Family Round for Female Founders of Color

Project Entrepreneur, a program by UBS, aims to level the playing field for female founders of color by providing these founders with the resources and support they need to build and scale their companies. The Democratizing the Friends & Family Round program, in partnership with Hello Alice, will award $25,000 grants as well as access to virtual coaching and skill-building opportunities to 30 female founders of color who are leading high-growth companies.

Applications Are Now Closed 

Application Timeline


The application opens October 6, 2021 and closes November 10, 2021 at 6 p.m. ET. Selected founders will be announced in late January 2022.


    

Eligibility Requirements 


To be eligible for the Democratizing the Friends & Family Round program, companies must:

Starting October 6, 2021, eligible female founders of color applied to the Democratizing the Friends & Family Round program. Thirty recipients will each receive a $25,000 grant plus access to virtual coaching and skill-building opportunities. Recipients will be announced in January. 

eBay Up & Running Grants 

CLOSED DECEMBER 11

This holiday season, eBay is giving back to the small businesses that power America. eBay is awarding more than $500,000 in grants and education resources to help small businesses stay up and running online and secure their future into 2021 and beyond. 

What Does “Venture-Scalable” Mean?


The Democratizing the Friends & Family Round program prioritizes female founders of color who are building high-growth companies and who aim to raise venture capital to accelerate their growth. That means companies with a business model that allows them to rapidly increase sales or revenues without requiring significant changes to how they do business. You can learn more about the different types of funding and whether venture capital is a good option for your company with the interactive Choose the Right Capital Guide from Hello Alice.

VIEW GUIDE

Why This Program Is Necessary


Female founders of color have historically been denied equitable access to capital of all forms. Black and Latinx female founders continue to receive less than 1% of venture capital, but the funding gaps that entrepreneurs of color face start far before they prepare to raise their first venture round. Nearly 40% of early-stage entrepreneurs raise initial funding through a type of investment known as the “Friends and Family” round in order to get their companies off the ground. With more than $60 billion in friends and family money invested annually in startups, it’s the largest source of early-stage financing for entrepreneurs with an average investment amount of $23,000.

However, as result of the racial wealth gap—the disparity in median wealth between people of different races—many entrepreneurs of color do not have access to a network that can readily provide them with friends and family funding. Missing out on this investment can be detrimental to female founders of color launching early-stage ventures as it prevents them from testing their innovations, hiring key talent, and having the runway to grow and raise future investment.

Sources: Project Diane 2020, Fundable.

Be a for-profit company
Have at least one woman-identifying founder of color
Have a venture-scalable or venture-viable company
Have a demonstrated need for funds in order to achieve a significant business milestone

For full eligibility requirements, see the official rules as well as FAQs here

About Project Entrepreneur


Project Entrepreneur, a flagship program by UBS, is on a mission to change the status quo for female founders by increasing their investment readiness, connecting them to the networks and resources they need to grow and scale their companies, and expand the ecosystem of support that advance women entrepreneurs. Since 2015, Project Entrepreneur has trained and supported more than 1,800 female founders with alumni going on to raise more than $60M in capital.


    

Be a for-profit company

Have at least one woman-identifying founder of color

Have a venture-scalable or venture-viable company

Have a demonstrated need for funds in order to achieve a significant business milestone

What Does 


“Venture-Scalable” Mean?


Questions? Read the FAQs for this grant.