With recent news of Black-focused VC funding engines like Fearless Fund and Hello Alice being sued by right-wing conservatives for racial discrimination, this is a welcome win for Black women in business.
Launched by 1863 Ventures, a Black-led business development nonprofit, it aims to support women social entrepreneurs to bolster their companies and create a better future for us all. This year, the Ford Motor Company Fund came on board as a partner to help empower the participants with substantial financial backing.
“Winning top prize in Hi-HerImpact is transformative for Femly,” says CEO Arion Long, in a news release. “I was overjoyed to receive inbound customer interest for our period care dispensers during our pitch. The financial award, introductions, and support from this competition directly support our growth, job creation, and ability to scale.”
All of the top winners were Black women, with STEM education program The Lab Drawer taking home the second-place award of $25,000 and Black Girl MATHgic, a monthly math-focused subscription box secured third place and $20,000 prize.
“We are thrilled to celebrate our winners for their dedication and drive to create positive changes within their communities. These businesses are a testament to the power of innovation and showcase how diverse voices can truly make a change” says 1863 Ventures Founder, Melissa Bradley in a news release. “HI-HERImpact’s 5th year was an incredible success and we are inspired for the years to come.”