Founders First is accepting applications for the “Job Creators Quest Grant”
PHILADELPHIA — Qualified businesses in Pennsylvania and New Jersey are invited to apply for a “Job Creators Quest Grant” through Founders First CDC. A national 501(c)(3) nonprofit organization that enables the expansion of diverse founder-led, income-generating businesses, Founders First announced the second expanded grant program this week.
A total of $100,000 will be awarded to 30 minority and underrepresented businesses in Pennsylvania and New Jersey. Grants will range from $1,500 to $10,000 per business. Recipients will also receive a scholarship for Founders First’s Business Accelerator, a program that includes leadership coaching and ongoing business education.
To be eligible for the grant program, businesses must be located in Pennsylvania or New Jersey and meet the following criteria:
• A current team of 2 to 20 employees
• A service company
• Act as a for-profit business with annual revenues between $100,000 and $3 million
• Founded by an entrepreneur who identifies as a minority, LGBTQIA+, military veteran, or is in a low-to-moderate income area
Applications are being accepted now, but must be submitted by 5 p.m. on June 13. Qualified business owners can apply for the grant by visiting https://foundersfirstcdc.org/pa-nj/ or emailing [email protected] to learn more.
“Recipients will be selected based on their demonstrated ability to maintain and grow their workforce, as well as their commitment to creating gainful employment in their communities,” said a press release announcing the program.
“Although Pennsylvania and New Jersey are two different states with unique stories to tell, their entrepreneurs are bound together by the courageous determination needed to overcome the challenges of business and life,” said Shaylon Scott, executive director of Founders. First, in a statement. “We are proud to return to both markets with the goal of building long-term relationships and supporting ambitious leaders who inspire their communities. »
Funding for the program was facilitated by a $1 million national grant from the Rockefeller Foundation and ADP, in conjunction with Founders First Capital Partners’ recent $9 million Series A funding accelerator to support entrepreneurs underrepresented in underserved communities across the country. JP Morgan Chase and the Kauffman Foundation have also been steadfast partners in growing the program nationally.
Since its inception, Founders First has served over 450 companies that have created over 300 jobs and raised over $20 million from its founders.
According to Margaret Berger Bradley, Vice President of Strategic Initiatives for Ben Franklin Technology Partners of Southeastern Pennsylvania, the combination of the grant and accelerator participation is a “real win for the companies participating.”
“I was impressed with the quality of the presentations from the latest Founders First cohort. We are pleased to support Founders First and its mission to improve the success rate of these high-impact community businesses,” she said. said in a statement.
For more information about Founders First CDC, visit www.foundersfirstcdc.org.