On November 13, 2020, New Voices Foundation announced the winners of the Shea-Moisture-Essence Magazine Power Tools Business Grant. Women of color entrepreneurs are the fastest-growing segment of entrepreneurs in the United States but they don’t enjoy the same access to capital and other resources as their male and female counterparts. In fact, businesses owned by African-American and Latina women receive less than one percent of all venture capital funding every year. New Voices Foundation has invested more than $1.4 million in non-dilutive capital and matched support dollars in companies owned by women of color, hosted nine $100,000 pitch competitions for 87 women of color entrepreneurs at EssenceFest, CES and other leading national and regional events, and provided hundreds of coaching and mentorship hours to these entrepreneurs.
New Voices Foundation, a 501(c)3 organization, is focused on providing flexible funding, learning and networking opportunities to these entrepreneurs via pitch competitions, mobile accelerators, coaching and mentoring, online masterclasses, and communications outreach via social media, newsletters and other channels.
In 2020, New Voices will provide up to 60 grants to women of color founders through pitch competitions. Each competition awards $100,000 in cash grants, ranging from $5,000 to $25,000, combined with coaching, mentoring and personalized business skills development post-competition. Additionally, the community of pitch competition winners remain connected and access networking and partnership opportunities through New Voices’ robust ecosystem, helping to further ensure the long term viability and sustainability of their enterprises.
To date, the Foundation has invested more than $1.4 million in non-dilutive capital and matched support dollars in companies owned by women of color, hosted nine-pitch competitions for 87 women at EssenceFest, CES, and other leading national and regional anchor events, provided hundreds of coaching and mentorship hours, and connected them to meaningful networking and partnership opportunities.
De L’or Cakery is proud to announce that founder and Cake Executive Officer, Kayisha Thompson is one of the grantees and participants selected to be a part of this wonderful program. What excites me about this program are the modules that were offered to use to study and complete throughout the process. I was able to identify other windows of opportunities to grow my brand awareness. This award comes with coaching/mentoring sessions from other women business owners in our field.