Fearless Fund and the Tory Burch Foundation continues their partnership with the third cohort of the Women of Color Grant Program. The program awarded the below 75 women of color-owned small businesses with $10,000 and $20,000 grants, access to a self-paced learning portal, access to resources, and peer-to-peer community networking managed by Fearless Foundation.
While the number of women-owned businesses continues to rise, due to funding disparities, only 2% of women-owned startups generate $1 million in revenue; men are 3.5 times more likely to achieve this number. The Woman of Color Grant Program was created to help women of color entrepreneurs gain access to much-needed capital, and this year's grant program marks another significant step in advancing women's empowerment, entrepreneurship, and reducing racial inequalities.