The Comcast Rise Investment Fund has $10,000 grants available to help Black, Indigenous, and People of Color (BIPOC)-owned, small businesses in Detroit, Hamtramck and Highland Park hit hard by COVID-19.
Beginning Monday, March 1 and running through Sunday, March 14, eligible businesses can apply for a $10,000 grant at www.comcastrise.com. A total of 100 grants totaling $1 million will be awarded in May 2021 to local businesses.
The Comcast RISE Investment Fund is focused on small businesses which have been in business for three or more years with 1-25 employees. Businesses must be in Detroit, Hamtramck or Highland Park.
In addition to the Investment Fund, Comcast RISE, which stands for “Representation, Investment, Strength and Empowerment,” provides the opportunity for BIPOC-owned, small businesses nationwide to apply for consulting, media and creative production services from Effectv, the advertising sales division of Comcast Cable, or technology upgrades from Comcast Business.
Studies show that BIPOC-owned, small businesses have been particularly hard hit by the pandemic, and recent research by JPMorgan Chase Institute found that Detroit, along with Atlanta, Chicago, Houston and Philadelphia were in the top markets for sharp declines in local commerce spending. The Comcast RISE Investment Fund is launching in those cities and will provide a total of $5 million in grants to hundreds of Black, Indigenous, and People of Color (BIPOC)-owned, small businesses, including the $1 million in Detroit.
Comcast announced the Comcast RISE Investment Fund program in early February. It 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.
Visit Comcast RISE for more information.