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digitalundivided Launches BREAKTHROUGH Program In Partnership With JPMorgan Chase’s Advancing Black Pathways
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Rhea-AI Summary
digitalundivided has launched the BREAKTHROUGH program in partnership with JPMorgan Chase to support Black and Latinx women entrepreneurs in Los Angeles. This program provides business training and a $5,000 grant to participants with revenue-generating ventures. Eligibility requires a minimum of $50,000 in annual revenue and at least two years in business. Applications are open until October 25, 2021. This initiative aims to address funding gaps and empower women of color in the entrepreneurial landscape.
Positive
Partnership with JPMorgan Chase to enhance business opportunities for women of color.
Participants receive a $5,000 grant to invest in their businesses.
Targeted support for businesses generating a minimum of $50,000 in annual revenue.
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This Business Intensive and Grant Program for Black and Latinx Women Entrepreneurs Kicks-Off in Los Angeles
NEWARK, N.J.--(BUSINESS WIRE)--
digitalundivided, the leading non-profit leveraging the power of data, programs, and advocacy to catalyze economic growth for Black and Latinx women entrepreneurs, just announced the launch of its new business intensive called BREAKTHROUGH in partnership with JPMorgan Chase’s Advancing Black Pathways. This accelerated business program is designed to support women of color entrepreneurs with revenue-generating businesses and propel their ventures to the next level. The inaugural cohort will feature Black and Latinx women entrepreneurs, based in the Greater Los Angeles area, leading tech-enabled and digitally innovative companies. Upon completion of the program, each participant will receive a $5,000 grant to invest in their business.
“digitalundivided has long respected JPMorgan Chase and Advancing Black Pathways’ commitment to women and advancing inclusive business practices, and we are excited to partner on the launch of BREAKTHROUGH to accelerate financial outcomes for women of color entrepreneurs,” said Lauren Maillian, CEO of digitalundivided. “BREAKTHROUGH will unite founders with disruptive digital capabilities and provide them with a $5,000 grant and access to a high-impact business intensive curated to accelerate their businesses beyond the five-figure revenue mark.”
BREAKTHROUGH will select early-stage businesses with a minimum of $50,000 in annual revenue and each founder will participate in six comprehensive, business sessions from November 15 – November 19, 2021. digitalundivided’s curriculum for this program will focus on strengthening customer engagement, banking relationships and identifying the business models, types of funding, and economic support needed to scale operations and impact.
“Women of color entrepreneurs and businesses are critical to our economy and communities,” said Byna Elliott, Head of JPMorgan Chase’s Advancing Black Pathways (ABP). “We’re honored to be able to leverage our firm’s expertise and resources to arm the BREAKTHROUGH participants with the keys to scaling and growing their business.” JPMorgan Chase launched ABP in 2019 to help strengthen the economic foundation of Black communities around the world through business growth and entrepreneurship, financial health and wealth creation, careers and skills, and community development.
Applications for BREAKTHROUGH are open through Monday, October 25, 2021. digitalundivided and JPMorgan Chase will identify different cities for the program activation in the United States. The expansion of our research has shown us how geographical considerations have a significant impact on startups and we are doubling down on deeply understanding how location impacts the long-term success of businesses. We are creating programs and content to meet entrepreneurial needs across different regions. BREAKTHROUGH will start in Los Angeles, CA, with other cities to be announced.
Eligibility Criteria
Black and Latinx women founders who:
Have majority ownership of an established business with demonstrated traction
Generate a minimum of $50,000 annual revenue
Have been in business and incorporated for at least two years
Are legal residents of the U.S., including its territories
Are developing a digital innovation and/or tech-enabled business, where software is a major component of how they deliver their products or services (i.e. mobile- or web-based)
Are 21 years of age or older
Are registered in the Greater Los Angeles area
JPMorgan Chase and digitalundivided share a common goal to empower entrepreneurs of color and break down the barriers of systemic racism and bias. digitalundivided’s ProjectDiane 2021 Update Report found that Black and Latinx Women received less than half of 1% of venture capital funding. This groundbreaking research update proves that women of color are continuing to lose ground in the venture funding ecosystem. All of digitalundivided’s programs are designed to close this funding gap and to support women of color entrepreneurs at all stages of their funding journey from the early idea to post revenue.
digitalundivided is the leading non-profit leveraging data, programs, and advocacy to catalyze economic growth for Black and Latinx women entrepreneurs and innovators. Our goal is to create a greater world in which all women of color own their work and worth. We are a connector and a catalyst, supporting Black and Latinx women entrepreneurs through best-in-class programming, mentorship, training, resources, and investment. We offer unparalleled thought leadership in the space. And we bring together the shared experiences of our community to produce ground-breaking authoritative research on Black and Latinx women entrepreneurs. For more information, visit: www.digitalundivided.com and follow us on Twitter (@digundiv) and on Instagram and Facebook (@digitalundivided).
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $3.7 trillion and operations worldwide. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of customers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands.
The BREAKTHROUGH program is an initiative by digitalundivided in partnership with JPMorgan Chase, aimed at supporting Black and Latinx women entrepreneurs in Los Angeles with training and a $5,000 grant.
Who can apply for the BREAKTHROUGH program from JPM?
Eligibility includes Black and Latinx women founders with at least $50,000 in annual revenue, two years in business, and majority ownership.
When is the application deadline for the BREAKTHROUGH program?
Applications for the BREAKTHROUGH program are open until October 25, 2021.
What financial support do participants receive in the BREAKTHROUGH program?
Each participant receives a $5,000 grant to invest in their business upon completion of the program.
