digitalundivided has announced a new initiative to help Black and Latina women have access to funding.
The 2022 Do You Fellowship
The 2022 “Do You Fellowship” is a one-year program set to support WOC founders to “access the tools, resources, and networks necessary to supercharge their businesses,” according to the leading nonprofit’s website.
Fifteen women will be supported in their quest to reach the $1 million mark in revenue and/or funding.
Support From The Fifteen Percent Pledge
The Fifteen Percent Pledge — a nonprofit avidly supporting Black-owned businesses — has also gone on to amplify the fellowship.
“The Fifteen Percent Pledge joyfully supports any and all opportunities for BIPOC founders and entrepreneurs to gain the tools needed to build sustainable and profitable businesses,” the organization wrote via Instagram.
What The Program Has To Offer
Participants of the program’s second cohort will receive a $5,000 equity-free, cash grant — digitalundivided details. Additionally, the educational support will feature business workshops led by industry leaders, financial advisory support, mentorship, and more.
According to its statistics, “Just seven months into the program, the collective revenue of 2021 Do You Fellows increased by 105% and the number of full-time employees increased by 15%.”
“Being a part of the digitalundivided Do You Fellowship meant the world to me and my business,” said Rachel Topping, Inaugural 2021 Do You Fellow and Founder of Nappy Head Club. “We grew almost 160% in revenue, we were on two NBC shows, we picked up seven new retailers and counting, we were featured in Black History Month campaigns with Refinery 29 and It Cosmetics, and the list goes on and on.”
Requirements To Apply:
- Identify as a Woman
- Identify as Black or Latina (or both)
- Be 18 years of age or older
- Business registered for at least 1 year
- Majority ownership of an established business
- Tech-based or innovatively incorporates technology in the business model
- Annual Revenue of $250,000 – $500,000 or raised $50,000 – $500,00 in funding
- Poised for growth (looking for investments)
Black and Latina women founders can apply until July 25.
To apply to digitalundivided’s Do You Fellowship, click here.