Comcast RISE to Award $1 Million in Grants to BIPOC-Owned, Small Businesses in Philadelphia and Chester
Comcast Corporation (NASDAQ: CMCSA) has launched the Comcast RISE Investment Fund, allocating $5 million in grants to support BIPOC-owned small businesses across five U.S. cities. These funds aim to aid those hardest hit by COVID-19, with $1 million specifically designated for Philadelphia and Chester. Eligible businesses can apply for $10,000 grants from March 1-14, 2021. Additionally, Comcast has partnered with community organizations, contributing over $2 million to provide outreach and mentorship, emphasizing the importance of financial access for BIPOC entrepreneurs.
- Total grants of $5 million to support BIPOC-owned small businesses.
- $1 million allocated specifically for Philadelphia and Chester.
- 500 grants to be awarded, enhancing financial support for small businesses.
- Partnership with community organizations, contributing $2 million for outreach and mentorship.
- None.
PHILADELPHIA, March 1, 2021 /PRNewswire/ -- Comcast Corporation (NASDAQ: CMCSA) today announced the Comcast RISE Investment Fund, providing
The Comcast RISE Investment Fund is focused on small businesses who have been in business for 3 or more years with 1-25 employees. Businesses must be in the following geographic locations to be eligible: City of Philadelphia and City of Chester.
To help drive outreach about the program and provide additional support, training and mentorship, Comcast has also awarded more than
"BIPOC entrepreneurs need access to capital along with the training resources and networks that are so critical to success," said Dalila Wilson-Scott, executive vice president and chief diversity officer, Comcast Corporation and president, Comcast NBCUniversal Foundation. "Through the Comcast RISE Investment Fund, we are investing in BIPOC-owned, small businesses that create jobs and play a vital role in supporting our communities. The Comcast RISE investments will provide more BIPOC entrepreneurs with the resources and tools they need to scale their businesses and thrive for years to come."
Studies show that BIPOC-owned, small businesses have been particularly hard hit by the pandemic, and recent research by JPMorgan Chase Institute found that Atlanta, Chicago, Detroit, Houston and Philadelphia were in the top markets for sharp declines in local commerce spending. Additionally, the majority of applications for the Comcast RISE marketing and technology services component are from these five cities.
"The Comcast RISE Investment Fund is throwing a critical lifeline to BIPOC small businesses that were disadvantaged prior to Covid-19 and today, as a result of the pandemic, are now fighting for their very existence," said Philadelphia City Councilwoman Cherelle L. Parker. "I am a proponent of programs that breathe life into small businesses. This grant, which is simple to apply for, responds to this once-in-a-lifetime public health crisis with an immediacy and urgency that simply cannot be understated."
In addition to the investment fund, Comcast RISE, which stands for "Representation, Investment, Strength and Empowerment," provides the opportunity for BIPOC-owned, small businesses nationwide to apply for one or more of the following support focus areas for the opportunity to receive one. Over 700 recipients were announced in November, with the next wave of recipients to be announced in March 2021.
- Marketing Services: The following services from Effectv, the advertising sales division of Comcast Cable, and its creative agency, Mnemonic, are designed to help recipients with their marketing and media campaigns, including:
- Media: A linear TV media campaign to run over a 90-day period.
- Creative Production: Turnkey :30 TV commercial production, plus a media strategy consultation and 90-day media placement schedule.
- Consulting: Advertising and marketing consultations with local Effectv marketing, research and creative teams to gain insights on how to drive business.
- Technology Makeovers: The state-of-the-art equipment and technology upgrade from Comcast Business includes computer equipment as well as Internet, Voice and Cybersecurity services for up to a 12-month period. (Taxes and other fees may still apply for technology makeover services.)
In addition, all eligible applicants will receive a monthly Comcast RISE newsletter with educational content, and all small business owners can visit the Comcast RISE destination on the X1 platform, which features aggregated small business news, tips, insights and more. The destination is designed to help businesses grow by empowering them through inspiration and entertainment. Just say "Comcast RISE" into the X1 voice remote.
Comcast RISE is part of a larger
More information and the applications to apply for either the grant program or the marketing and technology services are available at www.ComcastRISE.com.
About Comcast Corporation
Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company with three primary businesses: Comcast Cable, NBCUniversal, and Sky. Comcast Cable is one of the United States' largest high-speed internet, video, and phone providers to residential customers under the Xfinity brand, and also provides these services to businesses. It also provides wireless and security and automation services to residential customers under the Xfinity brand. NBCUniversal is global and operates news, entertainment and sports cable networks, the NBC and Telemundo broadcast networks, television production operations, television station groups, Universal Pictures, and Universal Parks and Resorts. Sky is one of Europe's leading media and entertainment companies, connecting customers to a broad range of video content through its pay television services. It also provides communications services, including residential high-speed internet, phone, and wireless services. Sky operates the Sky News broadcast network and sports and entertainment networks, produces original content, and has exclusive content rights. Visit www.comcastcorporation.com for more information.
About Comcast Business
About Comcast Business Comcast Business offers Ethernet, Internet, Wi-Fi, Voice, TV and Managed Enterprise Solutions to help organizations of all sizes transform their business. Powered by an advanced network, and backed by 24/7 customer support, Comcast Business is one of the largest contributors to the growth of Comcast Cable. Comcast Business is the nation's largest cable provider to small and mid-size businesses and has emerged as a force in the Enterprise market; recognized over the last two years by leading industry associations as one of the fastest growing providers of Ethernet services. For more information, visit www.business.comcast.com or call 866- 429-3085. Follow on Twitter @ComcastBusiness and on other social media networks at http://business.comcast.com/social.
About Effectv
Effectv, the advertising sales division of Comcast Cable, helps local, regional and national advertisers use the best of digital with the power of TV to grow their business. It provides multi-screen marketing solutions to make advertising campaigns more effective and easier to execute. Headquartered in New York with offices throughout the country, Effectv has a presence in 66 markets with nearly 35 million owned and represented subscribers. For more information, visit www.effectv.com.
View original content:http://www.prnewswire.com/news-releases/comcast-rise-to-award-1-million-in-grants-to-bipoc-owned-small-businesses-in-philadelphia-and-chester-301237006.html
SOURCE Comcast Corporation
FAQ
What is the Comcast RISE Investment Fund?
How much funding is allocated for Philadelphia and Chester?
When can businesses apply for the grants?
How many grants will be awarded overall?
What other support is offered alongside the grants?
