SoGal foundation is a global platform that seeks to increase startup funding for women. The foundation works hand in hand with TwelveNYC, Walmart, Twilio, Bluemercury, and Winkylux to create funding for black women and other non-binary entrepreneurs. The organization provides grants of either $10k or $5k to use in their business operations.
Eligibility Criteria
SoGal’s goal is to help those who find it hard to receive funding for their businesses due to social marginalization. Therefore, they have devised criteria to limit those who apply for the grant. You must meet the following conditions to qualify for the available grants:
• Identify as a black woman or black non-binary entrepreneur: This also extends to those who are multiracial women or multiracial non-binary black entrepreneurs.
• Legally registered business: You cannot apply for the grant without an existing, actively running business. The company should also be legally yours, or you hold a significant part of the venture.
• Plans to scale up: The primary purpose of the startup funding is to help you scale up. Therefore, you should have the necessary proof of your intentions to do so now or in the near future.
• High-impact idea: Your desired plan should be something that, when materialized, can have a significant impact or give a solution to many people. In essence, it should be a future multi-billion company.
Prizes
The grant amount you get is either $10k or $5k. This depends on the needs of the company and the team’s assessment. Though this may not look like much, the goal is to help black entrepreneurs start their scaling-up journey. Through this funding, SoGal helps create multigenerational wealth for individuals who have difficulty accessing finances from the financial systems. Most of their funding is in Canadian dollars and gets channeled to your business account.
Submission Requirements
SoGal makes it easy for you to get the money. As long as you meet the set requirements, you can apply for the available grants at any time. The assessment happens on a rolling basis, and your application will only take a few minutes.
Due to the massive number of applications, only those who get approved will receive communication from the team. It is also not advisable to apply multiple times or go back for another grant if you already got a grant from the platform.
Conclusion
If you fit in this category of investors, give your submission to SoGal for your startup funding. They have been helping multiple businesses take a step forward in creating wealth and employment. Some of their 2020 winners include Un-ruly, created by Abigael and Opiah, and Accessible Employment, by Iman Williams.
Visit their website and fill in the application form for your chance to take your business to the next level.
https://www.iamsogal.com/black-founder-startup-grant/