Associates in Action
By Julianne Stahl
Associates in Action articles highlight CSG Associates’ philanthropic efforts and public-private partnerships throughout the states.
Comcast, a CSG Associate, announced the Comcast RISE Investment Fund that provides $5 million dollars of grants to hundreds of Black, Indigenous, and People of Color (BIPOC)-owned, small businesses. Comcast RISE stands for “Representation, Investment, Strength and Empowerment.” It is part of a larger $100 million diversity, equity and inclusion initiative that Comcast launched last summer.
Now through March 14, eligible businesses in Atlanta, Chicago, Detroit, Houston and Philadelphia can apply for a $10,000 grant at ComcastRISE.com. A total of 100 grants per city, or 500 grants overall, will be awarded in May 2021. The Investment Fund 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.
Studies show that BIPOC-owned small businesses have been hit particularly hard by the pandemic, and recent research by JPMorgan Chase Institute found that Atlanta, Chicago, Detroit, Houston and Philadelphia were in the top markets for sharp declines in local commerce spending. Additionally, the majority of applications for the Comcast RISE marketing and technology services component are from these five cities.
“BIPOC entrepreneurs need access to capital along with the training resources and networks that are so critical to success,” said Dalila Wilson-Scott, executive vice president and chief diversity officer of Comcast Corporation and president of the Comcast NBCUniversal Foundation. “Through the Comcast RISE Investment Fund, we are investing in BIPOC-owned small businesses that create jobs and play a vital role in supporting our communities. The Comcast RISE investments will provide more BIPOC entrepreneurs with the resources and tools they need to scale their businesses and thrive for years to come.”
In addition to the investment fund, Comcast RISE provides the opportunity for BIPOC-owned small businesses nationwide to apply for one or more support focus areas. These focus areas include marketing services such as creative production and consulting, as well as technology makeovers that would utilize internet, voice and cybersecurity services.
More information about applications and the grant program are available at ComcastRISE.com.