Black entrepreneurs are invited to apply for up to £15,000 of investment from Sky and the Black Equity Organisation.
The financial boost is part of the Future 100 Growth Fund, a £1m partnership between the two organisations to identify and turbocharge the country’s most innovative Black business ideas and companies.
As well as the cash injection, successful companies will receive access to supply chains, a free 12-month Sky Business broadband and phone package and access to business mentors – including Sky executives.
Applications open on 10 May 2023 and close on 7 June 2023. Successful applicants will be notified by August 2023.
The tailored 12-week programme is recruiting its second cohort of businesses and has already helped Black entrepreneurs successfully set up and grow their companies.
“We’re committed to supporting Black entrepreneurial talent and our partnership with the BEO allows us to support ambitious Black businesses that want to grow and drive economic growth in the UK. We’re proud to not only be able to provide direct funding and mentoring but also a free 12-month Sky Business broadband and phone package offering them better productivity and saving them thousands of pounds.”
“The Future 100 Growth Fund is an innovative initiative that doesn’t shy away from addressing the massive disparities that exist between the business fortunes of Black and white entrepreneurs.
“Research shows that approximately 88% of Black founders finance their startups themselves, with an average investment of £14,000*.
“This lack of investment, in terms of both financial and social capital, and challenges accessing supply chains, is limiting a highly innovative and motivated part of the economy.
“I encourage Black entrepreneurs to apply for the Future 100 Growth Fund; it could be the best business decision you ever make.”
The F100 Growth Fund is keen to hear from businesses and start-ups with a high potential for growth, acceleration, and scalability.