DIFFvelopment, the nonprofit organization that aims to re-empower people of African descent through culturally specific entrepreneurial and financial programs, has announced the launch of its new annual Black Economic Empowerment Fund & Fellowship Program designed to empower the next generation of black business owners. This initiative is a direct response to the uprisings that have been occurring across the world due to the long withstanding issues of police brutality and systemic racism against the black community. DIFFvelopment will use this program to lead the charge against economic oppression by providing award winners with access to early-stage financing and education that will increase the likelihood of business success.
DIFFvelopment aims to raise $1M for the fund and award 50 young black entrepreneurs with $20,000 by the end of 2021. Rising college seniors and recent graduates of African descent will have the opportunity to submit community-minded business concepts that will be vetted by the DIFFvelopment team for the chance to win.
Awardees will be selected as a result of successfully making it through three rounds of evaluation and four weeks of culturally specific entrepreneurial and financial education and business concept development. Awardees will have access to ongoing business support and will be required to submit quarterly reports for the first 12 months after receiving funds and annually for four years thereafter.
If you are interested in investing and/or donating to the fund, please send support to PO Box 773, Montclair, NJ 07042 or directly through DIFFvelopment’s Black Economic Empowerment Fund campaign site.
DIFFvelopment is a 501(c)(3) tax-exempt nonprofit organization with the mission of “Re-empowering people of African descent one student at a time.” It fulfills its mission by addressing the lack of black generational wealth through culturally specific entrepreneurial and financial programs that empower college students of African descent to overcome socioeconomic barriers and build generational wealth.