Founders First CDC Announces 30 Recipients of Job Creators Quest Grant
$100,000 has been awarded to local businesses and entrepreneurs across Pennsylvania and New Jersey
PHILADELPHIA, July 28, 2022 /PRNewswire-PRWeb/ -- Founders First CDC (Founders First), a 501c3 non-profit that empowers expansion and job creation in diverse founder-led, revenue-generating businesses, has revealed the list of grant recipients for Pennsylvania and New Jersey regions.
Thirty Job Creators Quest grants – totaling $100,000 – have been awarded to business leaders in communities from Philadelphia and Bensalem, Pennsylvania to Camden and Newark, New Jersey. The grant awardees were chosen for their compelling stories of entrepreneurship, impact on their communities, and potential for growth and hiring.
"This process is always very rewarding for us, because we can get a pulse on the businesses and passionate entrepreneurs behind every community in the region," said Shaylon Scott, Executive Director of Founders First, based in San Diego. "The recipients this year represent a diverse coalition of leaders from all backgrounds and offer a clear indication that both Pennsylvania and New Jersey have a strong economic future."
The grants include a cash award between $1,500 and $10,000 per company, a full tuition scholarship to a Founders First growth accelerator program, and membership in the Founders First platform, giving entrepreneurs access to social capital and ongoing support from a network of experienced business leaders and partners.
Entrepreneurs were evaluated based on their application and judging criteria that focused on business size, community impact, and diversity.
"76Forward is proud to support Founders First and their mission to empower underrepresented entrepreneurs in the region," said Director of Events and Engagement, Tracy Turner. "It was a very competitive selection process that illustrated the strength of the region's startup community. We're excited to watch these companies grow and leave an impression on the communities they represent."
Funding for this program was facilitated by a $1 million national grant from the Rockefeller Foundation and ADP, in conjunction with Founders First Capital Partners' recent $9 million Series A financing accelerator to support underrepresented entrepreneurs in underserved communities across the country. JP Morgan Chase and the Kauffman Foundation have also been steadfast partners in growing the program at a national level.
Additional national and regional partners include Black Enterprise, Spring Point, PIDC, The Enterprise Center, the Institute for Entrepreneurial Leadership, ImpactPHL, Ben Franklin Technology Partners of Southeastern Pennsylvania, New Jersey SBDC, 76Forward, University City Science Center, Juno Capital, the Temple University Small Business Development Center, Village Capital, West Philadelphia Corridor Collaborative, Philly Startup Leaders, and Technical.ly.
Since its inception, Founders First has served more than 450 companies that have created over 300 jobs and raised over $20 million among its founders.
About Founders First CDC
Founders First CDC is a not-for-profit 501c3 that was founded in 2015 and has received significant support from the regional community reinvestment banks to empower diverse founder-led, revenue generating small businesses through three primary programs: Founders Challenge, Founders Bootcamp, and Founders FastPath. By building recurring revenues, tech-enablement, and essential solution focus, Founders First serves as a catalyst for positive change to entrepreneurs of color and female founders to become leading employers in their communities.
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SOURCE Founders First CDC
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