Press Release

National Nonprofit, Founders First CDC, Awards $100,000 to Texas Businesses

Founders First CDC Awards 30 Grants to Minority Businesses Throughout the State to Create and Promote Premium Wage Employment Opportunities in Underserved Communities

Texas, October 4, 2021 – Founders First CDC, a national 501(c)(3) non-profit organization that empowers expansion in diverse founder-led, revenue-generating businesses, announced the winners of its new Job Creators Quest Grant today during a virtual press conference. More than 600 Texas businesses applied for the grants and 31 recipients were selected, with minority and underrepresented business owners receiving $100,000, collectively in cash and full tuition scholarships to a Founders First CDC Business Accelerator Program. The grant recipients were selected from throughout the state, including Dallas, Houston, Austin and San Antonio, serving a variety of industries – from construction and manufacturing to STEM and healthcare, to hospitality, and more. The recipients are as follows:

AUSTIN

DALLAS-FORT WORTH

HOUSTON

SAN ANTONIO

Texas State Senator and small business owner, Royce West said, “The challenges of simply keeping the doors open have been amplified by an unforeseen obstacle – the pandemic.  Now more than ever it takes commitment, perseverance and healthy funding to succeed, which is why I’m excited about Founders First CDC.  This organization is providing small businesses with wherewithal to create jobs, which in turn helps sustain operations, achieve business goals and stimulate the economy.”

The purpose of the Job Creators Quest Grant is to help business owners create premium wage jobs and reward diverse-led businesses throughout the state of Texas to retain and grow their workforce through the pandemic. This will help to positively impact the local economy, create job opportunities with higher wages and provide the human capital needed for businesses to grow and expand. This grant project was launched in early 2021 and has awarded more than $220,000 to minority and underrepresented business owners throughout the United States with $30,000 awarded in Chicago in April; $30,000 awarded in Southern California in June; $60,000 awarded in Philadelphia and New Jersey in September; and $100,000 awarded to Texas business owners in October.

“We have observed many founders working more in their business than on their business. Our priority is to give entrepreneurs resources to grow while simultaneously becoming premium wage job creators within their community,” said Shaylon Scott, executive director, Founders First CDC.  “Investing in diverse entrepreneurs is an impactful way to drive job and wealth creation in underserved communities. The Job Creators Quest Grant is more than a dollar amount, it’s a celebration of their success.”

To be eligible for the Job Creators Quest Grant, the company’s founder had to be Black, indigenous, a person of color, LGBTQIA+, military veteran, woman or located in a low to moderate income area and be a for-profit company with annual revenues between $100,000 to $3 million. Grant winners will use the funds to help create and add 1-2 net new premium wage jobs in the next 12 months.

Funding for this program was facilitated by a $1 million grant from the Rockefeller Foundation, in conjunction with Founders First CDC Capital Partners’ recent $9 million Series A financing accelerator to support underrepresented entrepreneurs in underserved communities. Additional partners include ADP, Black Enterprise Magazine, BCL of Texas, Bank OZK, The Study USA, Veteran Women’s Enterprise Center, The DEC Network, PeopleFund and The Mass Challenge.

On a national and global scale, many companies struggled to stay afloat amid the COVID-19 pandemic. In fact, many small businesses that are vital to the communities they serve, were forced to close their doors. With greater availability of the vaccine and resources provided by organizations like Founders First CDC, small businesses are hopeful as they move forward. According to a recent article by the U.S. Chamber of Commerce, a majority (65 percent) of small business owners are more optimistic that the worst of the pandemic is over, and say that easing COVID-19 restrictions (29 percent) and ramping up vaccinations in their area (28 percent) are the two biggest keys to their success in the remainder of 2021.

In addition to announcing the winners of the Job Creators Quest Grant today, Founders First CDC also announced a national grant opportunity, the STEPHEN L. TADLOCK FUND, a grant for veteran-owned businesses. Named in honor of the CEO’s brother who passed away in June 2019 and was a US Navy veteran and major small business investor and supporter, the fund will make its first investments in 50 veterans who are running employer-based small businesses. The deadline for application is October 29, and finalists will be announced by this Veteran’s Day, Thursday, Nov. 11, 2021.

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About Founders First CDC

Founders First CDC is a not-for-profit 501c3 that was founded in 2015 and has received significant support from the regional community reinvestment banks to empower diverse founder-led, revenue-generating small businesses through three primary programs: (1) Founders Challenge; (2) Founders Bootcamp; and (3) Founders FastPath. By building recurring revenues, tech-enablement, and essential solution focus, Founders First serves as a catalyst for positive change to entrepreneurs of color and female founders to become leading employers in their communities. www.foundersfirstcdc.org.