Applicants are invited to apply for the 2022 PledgeLA Founders Fund to help early-stage businesses grow and thrive.
Donor Name: Grid110
State: California
County: Los Angeles County (CA)
Type of Grant: Grant
Deadline: 04/10/2022
Size of the Grant: $25,000
Details:
They are looking for 20 companies led by Black and Latinx founders to be part of the new 2022 PledgeLA Founders Fund Cohort, in partnership with Grid110.
Goal: generate five times the economic impact in jobs, capital, and revenue for every dollar they raise. After a successful pilot program in South LA, they’re expanding access to Black & Latinx entrepreneurs across LA County.
Who is this program for
Identity: One or more co-founders should identify as a member of the Black and/or Latinx communities.
- LA Connection: They are looking for entrepreneurs and businesses based in Los Angeles County
- Businesses: This program is for for-profit businesses and social enterprises. They cannot accept applications from 501(c)(3) nonprofits. – Funding Stage: Businesses should have received less than $250,000 in total funding from any source (investments, loans, grants, etc.).
What they Provide
This is about more than funding – it’s about relationships and building generational wealth. Each of their selected companies will receive:
- $25,000 in non-dilutive funding
- 3 months of intensive training
- 1:1 advising and ongoing support
Eligibility Criteria
Eligibility requirements for companies include:
- Led by a Black and/or Latinx co-founder based in Los Angeles County
- Raised less than $250,000 from any source prior to applying
- Have an innovative product with evidence of traction
They especially encourage applications from less well-represented communities, such as East Los Angeles, South Central/South Los Angeles, Southeast Los Angeles, and the Antelope, San Fernando, and San Gabriel Valleys.
For more information, visit PledgeLA Founders Fund.
