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 intends to support women of color entrepreneurs with revenue-generating businesses. It aims to help them propel their ventures to the next level. The inaugural cohort will feature Black and Latinx women entrepreneurs based in the Greater Los Angeles area. The women must be 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.”
How the BREAKTHROUGH program will empower women
The BREAKTHROUGH program will select early-stage businesses with a minimum of $50,000 in annual revenue. Each founder will participate in six comprehensive, business sessions from November 15 – November 19, 2021. The program curriculum 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. JPMorgan Chase and digitalundivided will identify different cities for the program activation in the United States. The expansion of company research has shown us how geographical considerations have a significant impact on startups. As a result, digitalundivded is 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 and expand to other cities later.
BREAKTHROUGH program eligibility criteria
The program is looking for 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. Software must be 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 percent 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.
Apply now at www.digitalundivided.com/breakthrough.
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 bring together the shared experiences of our community. Our goal is to produce ground-breaking authoritative research on Black and Latinx women entrepreneurs. For more information, visit: www.digitalundivided.com.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. 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. JPMorgan Chase & Co. is a component of the Dow Jones Industrial Average. The firm 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.
BREAKTHROUGH isn’t the only program helping help female founders of color. Read about UBS and Hello Alice’s new grant program!