Access to capital and resources has been one of the biggest hurdles for Black entrepreneurs. Thankfully, Amazon is looking to change that.
According to a press release, Amazon Web Services (AWS) Inc. — the cloud-computing unit of the retail giant — has pledged over $30 million to roll out an accelerator program centered on assisting underrepresented founders. Additionally, it will be a three-year commitment to assist startups that have Black, Latinx, LGTQ+, and women leaders.
Business Owners Will Receive Funding To Move Forward
Based on a press release, the startups will receive the necessary help to advance their businesses. Each business “gains $125,000 cash, up to $100,000 in AWS Activate credits, business and technical guidance, a peer community, and ongoing support.”
Once accepted into the program, participants will commit to an eight-week process starting in June. Each session is geared toward training and tools that will support their businesses. The accelerator’s curriculum will include personalized training offered by AWS startup subject matter experts and special guest speakers.
Applications Are Now Open
As a part of the program, AWS’ accelerator will give businesses with enormous potential the tools to reach critical milestones. The company disclosed that it would help the business owners raise funds or assist them in gaining access to fundraising accelerator programs. Additionally, AWS will help entrepreneurs create cloud-based solutions for their businesses.
According to the press release, AWS also states, “a single day could include lessons from an AWS solutions architect on optimizing cloud infrastructure, guidance on investor pitching from an experienced startup CEO, and leadership do’s and don’ts from a third-party organization that provides support to startups.”
Interested business owners are encouraged to apply.
Applications are currently open, and the link for more information and to sign up is here.