Here are answers to the most common questions about Job Creators Quest Grants.
To support revenue generating businesses with 2-20 employees led by diverse founders. We encourage premium wage job growth and award businesses that have been able to retain and grow despite the pandemic. The Job Creators Quest grant is an initiative to launch Founders First Community Development Corporation’s (FFCDC) expansion into new regions by supporting small businesses from diverse backgrounds to scale and impact the ecosystem. The grants are paired with access to one of our stellar business accelerator programs. We encourage businesses that are looking to grow and scale their businesses in size, scope and knowledge to apply.
Founders First is a nationwide platform, however, the grants are region specific. We are launching multiple regions across the US in the next two years so please sign up for our newsletter and follow us on social media for updates on our next launch.
For each Job Creators Quest Grant we will select 25 companies and award them a grant package that includes a cash award between $10,000 and $1,500 as well as a full tuition scholarship to a Founders First CDC business accelerator program.
We will evaluate the applications submitted based on the strength of their ability to create 1- 2 new jobs within the next 12 months, complete and clear submission of information with documentation on their business and how the companies are going to leverage the grant funds to create new jobs.
A significant part of our mission is social and economic equity and we see a connection with full time jobs. We are seeking those businesses that are able to create jobs with an average $50K in yearly salary and benefits. Social Economic Equity is important and a connection to move the needle is to create full time roles that provide livable wages. Many programs that are targeting this market may be creating part time jobs at minimum wage, and while that is positive it doesn’t close the economic equity gap.
No, the company must be diverse-led; meaning founders that are people of color, women, LGBTQ community, military veterans or their business is located in a low or moderate income area. They also need to be a revenue generating business of $100K to $3M per year, have at least 2 employees, seeking to grow and will add 1- 2 new jobs in 12 to 24 months. Non-profits are not eligible for this grant program. If a founder owns more than one business, only one application can be submitted per grant program. See additional qualifications above.
Founders First CDC has received grants to support our operations, including a $1M from the Rockefeller foundation that supports our growth. The Job Creators Quest Grant is one of the programs that we launched in 2021.
We recognize the definition of minority business owner as the tool and certification program that has been used for decades by the government and major corporations to engage and contract with businesses owned and operated by 51% black and brown founders. Founders First is a certified minority owned business. Women led businesses that have over 51% ownership are defined as certified women owned businesses.
A program that provides a combination of structured training, coaching and introductions to resources and partners. We offer 3 programs with multiple start dates that support businesses with revenues between$50K to $5million to help them grow and scale their businesses. Over 500 small businesses have graduated from our accelerator programs.
Our accelerator programs are premier executive level business growth programs. Thanks to our support organizations, we are able to offer scholarships up to 90% of the tuition. Depending on the program, the cost can range from $250 to $2000. For grant recipients, the cost of the accelerator is included as a 100% scholarship
All grant applicants are eligible to participate in FFCDC’s accelerator programs at a discounted rate as follows: Challenge: $187; Bootcamp $500; FastPath $750. Grant recipients receive a 100% scholarship to the programs as part of their grant award.
The cash award grant amount will be disbursed in two installments. Half of the net grant amount will be disbursed up to 60 days after signed terms and conditions, W-9 and set up of payment disbursement system is confirmed. The remaining portion will be disbursed up to 60 days after the completion of the business’ participation in the eligible accelerator program.
Payment of funds are subject to Grantee’s compliance with the following conditions:
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