TikTok Announces Second Cohort Of Funding For Online Hub Supporting Black Businesses
Photo Credit: cottonbro from Pexels

TikTok Announces Second Cohort Of Funding For Online Hub Supporting Black Businesses

Last year, video creation platform TikTok announced the launch of an online hub designed specifically to support Black-owned businesses.

Now the app is following up on its efforts to announce the second cohort of its Support Black Businesses initiative and further promote inclusivity around the spirit of entrepreneurship.

According to TikTok, its Support Black Businesses hub — in partnership with Vimeo — aims to “give Black small business owners critical skills and resources to help them not only rebuild but grow stronger” by effectively advertising on TikTok to drive sales for these businesses.

In addition to Vimeo, TikTok has also partnered up with Talent x Opportunity (TxO) — an accelerator program led by Andreessen Horowitz — to amplify the success of founders TxO and give access to different tools, resources, and networks to help transform their ideas into thriving enterprises.

“The diversity of our community is what makes TikTok so dynamic and inspiring, and we’re committed to supporting and elevating the individuals, businesses and diverse voices who are driving culture, influence, and inspiration on the platform,” Nick Tran — Head of global marketing at TikTok — shared in a statement. “We’re energized by the opportunity to partner with TxO and empower game-changing entrepreneurs with the tools and resources to help their businesses thrive on TikTok and beyond.”

TikTok’s Support Black Businesses program offers business owners advanced training, in-application creator showcases, and marketing opportunities to help take their brands to the next level.

In order to qualify for the platform’s second round of funding, TikTok asks that businesses:

    • Have fewer than 100 employees.
    • Be represented via a public-facing website.
    • Offer a product or service.
    • Maintain a current social media presence (which does not have to be a TikTok account).
    • Commit to attend at least 75% of the programming offered.

Finalists for the second cohort will be announced in July.

For more information on how to apply for TikTok’s Support Black businesses program, click here.