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It’s always a brighter day whenever women of color secure funding.

Project Entrepreneur, a UBS program, and Hello Alice, a platform helping small business owners, have recently added to the underrepresented group’s trail of success.

To play a part in helping to close the equity gap and promote access to capital for Black and LatinX female founders of color, Democratizing the Friends & Family Round program was announced in October 2021. According to a press release, kicking off the season of 2022 wins, the program has awarded $1 million in grants to 40 female founders.

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After increasing the amount of selected women from 30 to 40, each founder was granted $25,000 to go toward their companies.

“It’s hard building a company from scratch. Any time you get that support of people who believe in you and want to contribute to that journey it makes a huge difference, and I am just so thankful,” said grant recipient Dr. Christine Izuakor, Founder & CEO of Cyber Pop-up.

And Dr. Izuakor’s application was just one out of 12,000 received, according to a press release.

“The sheer number of high-quality applications to our program highlights the inequality that female founders of color face and the financial support they need from investors to continue to grow their companies,” said Jamie Sears, Head of Community Impact & Corporate Responsibility, Americas at UBS. “We’ve seen first-hand through Project Entrepreneur the talent that exists in this community and are thrilled to have created this opportunity with Hello Alice to invest in the success of these remarkable women and their companies.”

Democratizing the Friends & Family Round

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