Mayor Turner and Comcast Announce The Comcast RISE Investment Fund, Which Will Award $1 Million In Grants To BIPOC-Owned, Small Businesses In Houston

Style Magazine Newswire | 2/12/2021, 10:21 a.m.
Mayor Sylvester Turner and Comcast announced the Comcast RISE Investment Fund, which will provide $5 million dollars of grants to ...
Mayor Of Houston and Team COMCAST - Houston Announce The Second Round Of RISE Investment Fund

Mayor Sylvester Turner and Comcast announced the Comcast RISE Investment Fund, which will provide $5 million dollars of grants to hundreds of Black, Indigenous, and People of Color (BIPOC)-owned, small businesses in five cities nationwide, including $1 million in Houston.

Beginning on March 1 through March 14, eligible businesses in Atlanta, Chicago, Detroit, Houston and Philadelphia specified areas can apply for a $10,000 grant at www.ComcastRISE.com. A total of 100 grants per city, or 500 grants overall, will be awarded in May 2021. The Investment Fund is the latest extension of Comcast RISE, the multi-year, multi-faceted initiative launched in October 2020 that initially focused on black-owned, small businesses and then extended to BIPOC-owned to help those hardest hit by COVID-19.

On hand for the announcement were Martha Castex-Tatum, Houston Vice Mayor Pro-Tem and District K Council Member; Michael Bybee, Director of External Communications for Comcast; Frances Castañeda Dyess, President of the Houston East End Chamber; Tammi Wallce, Co-Founder and President & CEO of the Greater Houston LGBT Chamber; Moises Solis, Chairman of the Camara de Empresa- rios Latinos de Houston; Carol Guess, President of the Greater Houston Black Chamber; and Paul Gor, Director of Community Development for the Asian Chamber of Commerce.

Comcast is announcing a $5 million grant program as part of Comcast RISE, which launched in late 2020 to provide Black, Indigenous, and People of Color (BIPOC)-owned, small businesses with the resources they need to navigate the challenges of the pandemic.

The Comcast RISE Investment Fund is fo- cused on small businesses who have been in business for 3 or more years with 1-25 employees. Businesses must be in the following geographic locations to be eligible: Atlanta, GA (Clayton, Cobb, DeKalb, Fulton, and Gwinnett Counties); Chicago, IL (Cook County including the City of Chicago); Detroit, MI (also in- cluding Hamtramck and Highland Park, MI); Houston, TX (Harris and Fort Bend Counties); and Philadelphia, PA (City of Philadelphia and City of Chester.)

Studies show that BIPOC-owned, small businesses have been particularly hard hit by the pandemic, and recent research by JPMorgan Chase Institute found that Atlanta, Chicago, Detroit, Houston and Philadelphia were in the top markets for sharp declines in local commerce spending. Additionally, the majority of applications for the Comcast RISE marketing and technology services component are from these five cities.

To help drive outreach about the program and provide additional support, training and mentorship, Comcast has also awarded more than $2 million to the Association for Enterprise Opportunity (AEO), Operation Hope, Ureeka, U.S. Black Chambers, U.S. Hispanic Chamber of Commerce, National Asian American Chamber of Commerce and nearly 20 community-based organizations in Atlanta, Chicago, Detroit, Houston and Philadelphia.

“BIPOC entrepreneurs need access to capital along with the training resources and networks that are so critical to success,” said Dalila Wilson-Scott, executive vice president and chief diversity officer, Comcast Corporation and president, Comcast NBCU- niversal Foundation. “Through the Comcast RISE Investment Fund, we are investing in BIPOC-owned, small businesses that create jobs and play a vital role in supporting our communities. The Comcast RISE investments will provide more BIPOC entrepreneurs with the resources and tools they need to scale their businesses and thrive for years to come.”

Studies show that BIPOC-owned, small businesses have been particularly hard hit by the pandemic, and recent research by JPMorgan Chase Institute found that Atlanta, Chicago, Detroit, Houston and Philadelphia were in the top markets for sharp declines in local commerce spending. Additionally, the majority of applications for the Comcast RISE marketing and technology services component are from these five cities.

www.ComcastRise.com