The Supplier Diversity Partnership Grant aims to reveal and fund innovative solutions in procurement that diversify supplier networks in the city, increase supply chain localization, and to increase the number of historically excluded small business owners seeking and securing contracts with purchasers and anchor institutions in NYC.
Donor Name: Small Business Funders Collective
State: New York
County: Bronx County (NY), Kings County (NY), New York County (NY), Queens County (NY), Richmond County (NY)
Type of Grant: Grant
Deadline: 10/16/2024
Size of the Grant: $100,000 to $500,000
Grant Duration: 1 Year
Details:
Through pooled grantmaking, the Collective aims to expand opportunities for entrepreneurs to thrive. With a commitment to increasing equitable access to social, financial, and knowledge capital for Black, Latinx, Indigenous, Asian & Pacific Islander and other historically excluded small business owners in the region, the Collective is launching a new round of grantmaking, with supplier diversity as its focus.
Funding Information
Expected to range between $100,000-$250,000.
Grant Period
One-Year Partnership Grants.
Eligibility Criteria
- To be eligible for a grant award, the LEAD APPLICANT must be:
- A nonprofit organization with evidence that it (a) has been recognized by the Internal Revenue Service as an organization described in Section 501(c)(3) of the Code; (b) is fiscally sponsored by a Section 501(c)(3) organization; (c) or is a governmental unit within the meaning of Section 170(c)(1) of the Code;
- Located within and/or primarily serving residents of Bronx, Kings, Richmond, New York, Queens counties.
- Additionally:
- While the lead applicant must be structured as a 501c3, partner organizations are not required to be structured as a 501c3. Examples of collaborations are mentioned above in the Solutions strategy section.
- All industries and business sectors within the small business ecosystem are welcome to apply.
- Applicants may prioritize one or some of the following solution areas in support of Black, Latinx, Indigenous, AAPI, women, and other historically excluded entrepreneurs in the five boroughs of NYC:
- CAPITAL ACCESS: Extending, designing, and/or growing mechanisms for delivering inclusive capital for businesses, particularly working capital.
- BONDING & INSURANCE: Providing referrals to ensure small businesses more effectively access the required bonding and insurance needed to bid for contracts (may include advancing to Tier 1 or Prime status).
- READINESS & CERTIFICATION: Offering personalized analysis and training to small businesses interested in securing contracts. Also includes buyer/seller mentoring and relationship-building.
- CAPACITY-BUILDING: Assisting small businesses in taking their enterprises to scale to successfully bid for public and private contracts. Similarly, educating and providing support to buyers about moving past the “lowest cost provider” and optimizing their spend with diverse suppliers, using BSOs as a conduit.
- OUTREACH/NETWORKING: Building communication channels that reach to the community level so under-invested small business owners connect with contract opportunities. Also includes efforts to overcome “insider” language and structures in procurement.
- DATA COLLECTION & BENCH-MARKING: Design, amplify, and share emerging tools such as Artificial Intelligence for buyers to measure progress towards supplier-diversity goals.
For more information, visit SBFC.
