While we knew our community was filled with both aspiring and successful entrepreneurs ready to take the next step in their business, the total of 327 applications far exceeded the anticipated demand. By necessity, we can accept only 32 entrepreneurs into the first round of the mini-grant and educational cohort. We are working to secure additional funding to continue participation in the program and serve additional cohorts in the near future, including being able to issue additional rounds of the mini-grants. We will continue to update the program applicants and the broader community on future opportunities as they become available.
The number of applications clearly demonstrates there is a thriving Black entrepreneurial spirit in San Francisco, especially among women, who comprised 75% of our applicants. We understand that entrepreneurs are eagerly looking for support to launch and grow their businesses, and we look forward to providing technical and financial assistance to as many Black entrepreneurs as possible in the coming weeks and months. As this is a pilot program, our top priority is servicing our first cohort of businesses and entrepreneurs with the utmost care. We look forward to reporting on the results of this inaugural cohort.
Correction Note: In the newsletter, the title reads, “348 applied to the inaugural Minding My Black-Owned Business program” but the article states that there were 327 applicants. While both are factual, we did receive 348 applications, however, through the vetting process, it was revealed that 21 were duplicate applications. 327 reflects the number of applicants after these duplicates were removed. Due to a communications error, this refined number did not make it into the newsletter title. We apologize for any confusion.