Grant & Mentorship Program for Black, Female-led Businesses in Utah
The first #NewPattern Coalition
Originally developed by Beta Boom, #NewPattern is a movement that seeks to promote and celebrate founders from various backgrounds in order to change the narrative that diverse founders can and do create successful companies. This movement also aims to advance the fact that companies that seek to serve the needs of a greater variety of people are tremendous opportunities for economic growth and investment.
#NewPatternUT is the first coalition to come out of the #NewPattern movement. Each of the partners brings valuable expertise, networks and resources to this collaboration:
It's Time to Start a New Pattern
Despite Black women starting businesses faster than any other demographic and
- Reinvesting 90% of their money back into their communities
- Creating a legacy of building inter-generational wealth
They are still met with the greatest barriers to accessing funding.
Black women receive less than 0.5% of venture capital funding and loans for Black founders are 3x less likely to be approved.
And COVID-19 is making things worse for Black communities and founders.
How Our Coalition is stepping up
#NewPatternUT is built from a coalition of Utah’s tech and business leaders that have a legacy of supporting the Black and female communities.
The grant program provides both immediate capital and ongoing holistic support designed to ensure more equitable access to the larger fundraising environment.
We want to get capital into the hands of Black, female founders that need it combined with the support they need.
Mentorship & Coaching
Because capital alone is not enough, we are combining our coalition organizations networks and programs to provide guidance and expert support in key business areas.
Access to Networks
The ability for a business to grow also depends on having the right access to transformative networks.
Want to apply to receive the grant?
We require your business to be incorporated in Utah and have a Black woman founder.
Applications will be accepted on a rolling basis with the first grants awarded in October.