NEWARK, April 1, 2020 Social startup digitalundivided announces two economic initiatives to fund and support Black & Latinx female founders during the COVID-19 financial crisis.
Since 2012, digitalundivided has been at the forefront of inclusive innovation, supporting the economic growth of Black and Latinx communities through women entrepreneurs as the first organization to spearhead research and data collection on Black and Latinx female founders.
With the onslaught of the COVID-19 global pandemic, female founders of color are experiencing even greater financial challenges. Businesses are being forced to adapt to a global recession and many are losing the limited resources they have. On Wednesday, March 25th, digitalundivided began the rollout of two initiatives that provide direct economic support to women of color founders.
The BIG Alumni Emergency Fund
digitalundivided came to the urgent aid of founders who are part of the DID community by opening up a $1K grant for eligible alumni of their BIG incubator program - The BIG Alumni Emergency Fund.
“At digitalundivided, the success of our alumni community is extremely important to catalyzing economic growth in the communities we serve,” says digitalundivided’s Program Manager and BIG alumni Jasmine Edwards.
Female founders with companies currently in operation, who work full-time on their ventures and who graduated from digitalundivided’s prestigious incubator were eligible to apply. After just two days, the organization awarded nearly 30% of its alumni pool with funding for their ventures.
Carolyn Pitt, Founder and CEO of FilmConnx is an alumni who benefited from the grant program."The DID network has helped [me] maintain the sense of community, resources, support and advocacy that are absolutely critical during this unprecedented time - particularly for underrepresented founders."
The Doonie Fund
In addition to providing economic support to community members, digitalundivided’s Founder & CEO Kathryn Finney has privately funded a grant, The Doonie Fund, that will aid Black women entrepreneurs impacted by COVID-19, immediately with a payment of $100. The Doonie Fund, inspired by Finney’s grandmother, Kathryn “Doonie” Hale, who was both a thriving local entrepreneur and a single mother, allows for any eligible business owner to receive immediate funding of $100.
“My grandmother ran her own seamstress business, sewing for many women in the working-class Milwaukee community of my youth. My first successful company (sold in 2012), The Budget Fashionista, was the direct result of the summers I spent with her, combing through thrift stores and learning how to make patterns out of newspaper,” says Kathryn Finney.
“I was able to enter the arena because of her. During this challenging time, I want to give others the same support my grandmother gave me.”
The Doonie Fund will aid a minimum of 50 women of color entrepreneurs by April 15th, 2020.
To financially support DID initiatives like the BIG Alumni Emergency Fund and the Doonie Fund, go to digitalundivided.com/donate.
About digitalundivided
Founded in 2012, digitalundivided is a social startup with 501c3 status that merges data and heart to catalyze economic growth in Black and Latinx communities through women entrepreneurs. Through research, thought leadership and programming, digitalundivided’s vision is to create a world where ALL women own their work.
For press inquiries, please contact Christina Brown: christina@digitalundivided.com