Vice President Kamala Harris announced a series of new public and private initiatives to advance racial economic equity and support minority businesses at the recent Freedman’s Bank Forum. One includes a $100 million funding opportunity from the Minority Business Development Agency (MBDA) to offer technical assistance grants to entrepreneurs.
Source: The St. Louis American
While the brewing industry continues growing in the country, a recent study showed that the overwhelming majority of brewers are white men. New mentorship and education initiatives hope to encourage more underserved audiences to enter the industry.
October is Cybersecurity Awareness Month. Small business owners can stay prepared for potential cyber attacks through fundamental cyber hygiene practices such as employing multi-factor authorization and using strong passwords.
Source: Northwest Arkansas Democrat Gazette
Amazon Catalytic Capital, funded by Amazon, is a new initiative that will invest $150 million in venture capital funds and accelerators that support entrepreneurs from underrepresented backgrounds. The company will support ten funds and 200 companies through next year.
Source: About Amazon
The U.S. Department of Commerce recently awarded over $4.2 million in grants to several Tennessee-based organizations supporting state entrepreneurs. Awardees included the University of Memphis which recently launched the Black Wealth Advancement through the New Business and Knowledge Development project.
Source: US News.com