Comcast announced a new round of cities will receive grants from the Comcast RISE Investment Fund, providing $5 million additional dollars to hundreds of small businesses owned by people of color, including Black, Indigenous, Hispanic, and Asian American owners, and women, bringing the total to $16 million in grants awarded as part of the Comcast RISE Investment Fund initiative.
Applications are now live from June 1 to June 14 for eligible businesses in Atlanta, Detroit, Pittsburgh, Philadelphia, and the Twin Cities to apply for a $10,000 grant at www.ComcastRISE.com. A total of 100 grants per city, or 500 grants overall, will be announced and awarded in July 2022. The Investment Fund is an extension of Comcast RISE, the multiyear, multifaceted initiative launched in October 2020 to support small businesses and provide the resources and tools they need today and in the future. RISE stands for “Representation, Investment, Strength and Empowerment.”
As part of the initial Comcast RISE Investment Fund program, the company previously awarded $1 million in April of last year to 100 small Black-owned businesses in Philadelphia and Chester.
“The effects of the pandemic continue to create challenges for our small businesses,” said Philadelphia City Councilmember Cherelle L. Parker. “This second infusion of investment grants, coupled with the hundreds of marketing and technology packages awarded in our city and the additional training and support provided through RISE, will help these businesses as they recover and rebuild to emerge from this crisis stronger than ever.”
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“While we know that no single organization can solve historic and systemic inequities overnight, we are committed to taking tangible actions that can drive long-term impact and change,” said Dennis Mathew, Senior Vice President, Comcast’s Freedom Region. “Comcast RISE and the Comcast RISE Investment Fund offer the opportunity for small businesses owned by people of color and women to help grow their businesses, create jobs, and play a vital role in supporting our communities. This new round of Comcast RISE grants will provide more entrepreneurs with the resources and tools they need to scale their businesses and thrive for years to come.”
Chanda Anderson, owner of Chanda’s Hair Studio and Uptown Hair Salon, both in the Cedarbrook section of Philadelphia, was awarded an Investment Fund grant in 2021. She shared the following: “When the pandemic hit and we had to shut down our business, I was distraught. My only means of income was suddenly taken away, but, meanwhile, my bills kept coming in. The $10,000 grant from Comcast RISE not only helped me stay afloat, I used it to purchase hair for my clients and actually generate some income. At a time when I was seeing one client a day in my house versus five to seven clients a day pre-pandemic, it helped more than you can imagine.”
To help drive awareness about round three of the program and provide additional support, training, and mentorship, Comcast has also awarded support to the following local non-profits:
- African American Chamber of Commerce of PA, NJ and DE
- Asian American Chamber of Commerce of Greater Philadelphia
- Greater Philadelphia Hispanic Chamber of Commerce
- Independence Business Alliance
- The Enterprise center
- Philadelphia Association of Community Development Corporations
In addition, Comcast RISE invests in ongoing mentorship and resources to help businesses succeed over the long-term. The program has partnered with Ureeka, an online platform for entrepreneurs, to provide grant recipients with business coaching to help build skills in company foundation, growing customers and financial stability.
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“Ureeka is proud to partner with Comcast RISE to grow small businesses nationwide with coaching and digital services,” said Melissa Bradley, Co-Founder, Ureeka. “We know there are stark disparities in access to capital and resources for entrepreneurs of color and women entrepreneurs. The additional coaching and digital resources that these businesses receive, in addition to potential monetary funding, will help these businesses gain valuable skills and opportunities that will help them move from survive to thrive.”
The first round of the Comcast RISE Investment Fund, announced in April of 2021, provided $5 million in grants to 500 small businesses owned by people of color in five cities: Philadelphia/Chester, Houston, Atlanta, Chicago and Detroit. Round two was announced in September of 2021, providing $6 million in grants to 600 small businesses in six locations: Miami, Houston, Oakland, Seattle, the Twin Cities, and Washington, D.C.
