Non-dilutive (non-equity-based) grant funding serves as the equivalent of seed and growth capital for many small businesses, particularly for the 9.7 million minority-owned and 13 million women-owned businesses which have limited access to angel investors and venture capital.
Unfortunately, accessing grants is a frustrating experience for many entrepreneurs. Tight application deadlines, complex eligibility criteria and uncertainty around renewals due to shifting corporate priorities, especially around Diversity, Equity and Inclusion, make the grant game a bit like playing whack-a-mole. Making matters worse, Anti-DEI lawsuits have had a chilling effect on diversity-focused grant-making organizations like the Fearless Fund, shared Khadijah Robinson, General Partner of Fictive Ventures.
Where entrepreneurs are successful in securing grants, the amounts received, especially after taxes, are often very small – $500 – $25,000.
So, with a keen understanding of the unique challenges in accessing grants, we have put together a vetted list of 15 grants for minority and women-owned businesses offering $50,000 – $2 million in funding, along with specific advice for navigating grants, from past winners and additional resources.
For a list of additional grants available for Black-owned businesses, check out this article here.
Advice for Navigating Grants, from Past Winners
Dawn Myers is founder & CEO of Richualist, which makes the Mint, a detangling, conditioning and styling hair device to help individuals with very curly or textured hair on wash-day. She has raised over $1 million in venture capital, secured a Shark Tank investment from Emma Grede and is also the winner of over $175K in grants including from Proctor & Gamble ($25K), New Voices Fund ($10K), Minority Innovation Weekend ($10K), Sephora ($5K), Glossier ($30K), Baltimore Gas and Electric ($25K), Amika ($50K) and Shea Moisture ($20K).
Monica Williams is the CoFounder & CEO of RedDrop, which makes affordable, reliable period products tailored specifically for tween girls. RedDrop has secured approximately $1.2 million in funding from Pharrell Williams’ Black Ambition Prize ($1 million) and the 15% Pledge Achievement Award ($200,000).
Dr. Elizabeth Ofili is a Cardiologist and founder and CEO of Health 360x, a clinical research platform providing 360-degree wrap-around support for community practices, to help drive increased participation in industry-sponsored trials, particularly amongst underrepresented communities. She has raised approximately $2.2 million in SBIR grant funding from the National Institutes of Health (NIH) – National Center for Advancing Translational Science.
15 Grants Offering $50,000 – $2 million in Funding
1. SBIR / STTR Government Grants – Amount: up to $2 million; Application Window: Various
Despite the recent chaos and uncertainty in US government funding, as of the writing of this article, the twin-programs Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) are currently open. One of the first things entrepreneurs need to do is identify the agencies that are most relevant to their business. There are 11 federal agencies that participate in the SBIR/STTR programs, each with its own grant opportunities, operational priorities and funding budgets – the most active being the Department of Defense, the Department of Health and Human Services and the National Science Foundation. For more insight into the SBIR/STTR grant process, check out a prior article published on this topic.
To apply, please visit SBIR.gov.
2. CÎROC’s Blue Dot Creative Residency – Amount: up to $500,000; Application Window: Closes February 24, 2025
The Blue Dot Creative Residency is CÎROC’s inaugural grant program, in collaboration with the brand MACRO, designed to empower creatives to develop and distribute a single passion project in a new creative vertical. CÎROC will award up to $500,000 in grants with the goal of eliminating barriers and reducing creative friction with capital and resources to empower visionary individuals to fully pursue their passions with ease. The program is for creatives in the fields of fashion, art, music, and entertainment.
Eligibility Criteria
- US residents 25 years old and above
- Currently working creative in the film/tv, fashion, art or music field
- Pursuing the following types of projects: Art Installations/Commissions; Pilots/Proof of Concepts; Unscripted Documentaries; Audio/Podcast Formats; Feature film integrations; Music Videos; Fashion/Capsule Collections
3. Caltech Rocket Fund – Amount: $25,000 – $100,000; Application Window: October 18 – March 3, 2025
Caltech’s Rocket Fund (CRF) is a member-supported granting pool that helps innovators turn their technologies into commercial realities through financial support, entrepreneurial mentoring and education. CRF is primarily focused on funding early commercial prototype development and supports clean-tech and sustainability startups with $25,000 – $100,000 in non-dilutive funding. CRF also offers: introductions to experts in product development, scale up and manufacturing; access to legal advice covering corporate structure and IP, channel relationships with IN2 Wells Fargo, Shell GameChanger for securing voucher funding covering lab testing facilities and technical expertise; partnering opportunities with the Electric Power Research Institute on $1 million + grants; finding lab testing facilities, and technical expertise; introductions to early stage investors; introductions to accelerator programs offered by Aditya Birla and Halliburton Labs and connections to incubators and accelerator programs in California. Since its inception in 2015, CRF has awarded $1.875 million in grants.
Eligibility Criteria:
- Clean-tech and sustainability startups with California presence
- Legally able to operate in the US, and have a US corporate bank account
- Focus on diversity and inclusion
- Additional criteria here
4. Catalyst CTIA Wireless Foundation – Amount: $10,000 – $100,000; Application Window: Closing March 5, 2025
CTIA Wireless Foundation is seeking ambitious early-stage social entrepreneurs who have developed mobile-first solutions to enhance lives and address challenges in American communities. Wireless networks are a platform for innovation, supporting emerging technologies that are transforming society. Mobile-first solutions powered by 5G and leading edge wireless offer a significant opportunity to make meaningful advances and tap into a powerful infrastructure for social good. Up to six applicants will receive unrestricted grant support, with a first-place award of $100,000, as well as non-financial benefits. Since its inception in 2020, the Catalyst program has awarded over $1 million.
Eligibility Criteria:
- US-based non-profit or social-impact companies
- Mobile-first solution beyond ideation stage with a proof of concept
- Using wireless technology to solve a pressing issue in American communities beyond ideation stage and has a proof of concept.
- Applications encouraged from people of color, women, and/or veterans
5. Arch Grants – Amount: $75,000 – $100,000; Application Window: February 19 – March 31, 2025
The Arch Grants Startup Competition awards innovative, scalable, and job-creating startups with $75,000 non-dilutive grants (plus an additional $25,000 for companies relocating to St. Louis) and access to an ecosystem of resources in exchange for headquartering their business in St. Louis for at least one year. Competition applications are evaluated by over 400 industry experts from the St. Louis community and around the country. Arch Grants is a nonprofit organization whose purpose is to improve the St. Louis economic landscape by championing extraordinary entrepreneurs. Arch Grants has awarded $18.5 million, and funded 270+ companies since its first competition in 2012. Of these companies, more than 200 are still active, with 84% of those choosing to maintain operations in St. Louis.
Eligibility Criteria:
- Idea-stage to pre-Series A companies
- Innovative and scalable business model with technology-enabled solutions
- Diverse Founder teams who have a desire to help the St. Louis ecosystem grow
- Headquarter or establish significant operations in St. Louis for at least one year
- At least one member of the founding team must reside in St. Louis for at least one year
- 51% of the full-time founding team or one full-time founder and 51% of full-time staff must have an operational presence in St. Louis for one year
- Meet additional participation requirements, including program attendance, company data submissions, and civic engagement
6. Cartier Women’s Initiative – Amount: $30,000 – $100,000; Application Window: April 18 – June 24, 2025
The Cartier Women’s Initiative (CWI) is a global, impact-driven grant program founded in 2006. Awards are split apart into three distinct categories: Regional Awards (three fellows from North America, which is one of the 9 regions); Science & Technology Pioneer Award (three fellows); and the Diversity, Equity & Inclusion Award (three fellows). If a company is leveraging an existing technology, process or model but applying it in a novel way, they recommend applying to the Regional Awards. If a company is developing a pioneering new technology, a complex engineering process, or a scientific discovery (and not only on a disruptive business model), they recommend applying to the Science & Technology Pioneer Award. The Diversity, Equity & Inclusion Award is designed for businesses that are working on closing gaps of access, outcome or opportunity for underserved or underrepresented communities. The CWI grant program also offers human and social capital, through a one year fellowship including a 3-day in-person program with Insead Business School and life-time access to the 800+ members of the CWI community. Since its inception, CWI has awarded $12.22 million in grants, assisting 330 entrepreneurs across 66 countries.
Eligibility Criteria:
- Women-run or women-owned business
- Early stage business, meaning, in the initial phase of its development and growth (between 1 to 6 years of licensed/registered operations)
- An impact-driven business, meaning seeking to create strong, sustainable and measurable social and/or environmental impact
7. Ulta’s MUSE Accelerator – Amount: $50,000; Application Window: Not Yet Announced, Typically Opens in June
Ulta’s MUSE Accelerator is a 10-week program, powered by the Fifteen Percent Pledge, anchored in retail readiness and industry expertise. Eight BIBOC brands will receive $50,000 to support long-term success, in addition to time, resources and mentorship throughout the program. Since its inception in 2022, the MUSE Accelerator has awarded a total of $1,240,000 in financial support to participating brands.
Eligibility Criteria:
- At least 18 years old, a U.S. or Canadian citizen and currently residing in the U.S or Canada
8. Amika’s “Rooted in Growth” Startup Grant – Amount: $50,000; Application Window: Not Yet Announced, Typically Opens in July
Amika’s “Rooted in Growth” Startup Grant and mentorship program powered by Innovation Studio allows the company to support emerging professional hair brand founders and play a part in increasing equity in the beauty and hair industry. The program includes a grant of $50,000 to four brands, along with a four month mentorship program to support brands in areas such as professional distribution, marketing, finance, and networking opportunities with the Amika team. The Amika grant program has awarded a total of $400,000 in grant funding since it launched in 2023.
Eligibility Criteria:
- US-based company
- Companies and brands focused on hair and hair care, including but not limited to tools, wigs, color, extensions and products.
- Clearly articulated Minimum Value Proposition (MVP) with demonstrated sales.
- Founders should have a business plan or a working draft of a business plan.
- Less than $2M in revenue and no funding beyond Series A
- Participants must be able to commit to participation in monthly meetings, mentorship activities and travel to amika’s headquarters in Brooklyn, NY for the kickoff
9. Beyond Open – Amount: $10,000 – $150,000; Application Window: Not Yet Announced, Typically Opens in August
Beyond Open Small Business Grant Program (Beyond Open) is a competitive small business grant program centered on building economic mobility in the Charlotte community including diverse-owned (minority, woman, veteran, LGBTQ, persons with disabilities) small businesses located in the Corridors of Opportunity, as designated by the City of Charlotte. Beyond Open is administered by FFTC Partners For Empowering Communities, a supporting organization of Foundation For The Carolinas. The program is made possible by support from the Wells Fargo Open for Business Fund. Since its inception in 2022, Beyond Open has awarded a combined total of $16.3M in direct grants to 402 small business owners.
Eligibility Criteria:
- Physically located within one of the six Corridors of Opportunity as identified by the City of Charlotte.
- At least one full year of operation before application opens
- For-profit organization
- Minimum annual revenue of $30k and a maximum annual revenue of $5M
- Fewer than 200 full and/or part-time employees
- If a franchise, it must be locally owned and independent
- Additional criteria here
10. Fifteen Percent Pledge Achievement Award – Amount: $15,000 – $200,000; Application Window: Not Yet Announced, Typically Opens in September
The Fifteen Percent Pledge organization was founded by Aurora James in 2020, when 28 global retailers took a pledge to redirect $14B in revenue to Black brands. The organization is working to address disparities in access to venture capital for Black-owned businesses, with no-strings-attached funding. In 2022, the Fifteen Percent Pledge launched the Achievement Award, offering $250,000 ($200,000 for the winner, $35,000 for second place and $15,000 for third place) in grant funding to unlock the next horizon of growth for three Black-owned businesses. The winner of the Achievement Award also receives mentoring and pro-bono consulting services from industry leaders. All awardees also receive complimentary tickets to the 2025 Gala. To date the Fifteen Percent Pledge Achievement Award has awarded $500,000 in grants to Black-owned businesses.
Eligibility Criteria:
- Member of the Fifteen Percent Pledge Business Equity Community
- E-commerce business with a minimum annual revenue of $100K
- Black-owned: At least one self-identifying Black person with 50% or more equity
- Has between 2-15 employees, including the founder
11. Sephora’s Beauty Grant: Amount: $100,000; Application Window: Not Yet Announced, Typically Opens in October
The Sephora Beauty Grant, is an annual program powered by the Fifteen Percent Pledge, awarding one Black business owner within the beauty industry a $100,000 grant.
Eligibility Criteria:
- Member of the Fifteen Percent Pledge Business Equity Community.
- E-commerce business with minimum annual revenue of $100,000
- Black-owned: At least one self-identifying Black person with 50% or more equity
- Sells a CPG product in one of the following categories: Beauty, Haircare, Makeup / Makeup tools, Skincare, Fragrance, Bath & Body
- Must be in business for at least 1 year
12. Famous Amos Ingredients for Success Entrepreneurs Initiative – Amount: $50,000; Application Window: Not Yet Announced, Typically Opens in September
Famous Amos and the U.S. Black Chambers jointly partnered together in 2021 to launch the Famous Amos Ingredients for Success Entrepreneurs Initiative, an annual national program in its fourth year that provides a total of $150,000 in capital awards, mentorship, and educational resources to three Black-owned early-stage businesses. To date, the program has awarded $600,000 to twelve Black-owned businesses.
Eligibility Criteria:
- At least 90% Black-owned
- In business for 5 years or less
- Headquartered in the United States (excluding Puerto Rico, the U.S. Virgin Islands, and other Commonwealths, Territories, and Possessions)
- Owners must be 21 or older at the time of submission of entry
13. She’s Connected by AT&T Program – Amount: $50,000; Application Window: Not Yet Announced, Typically Opens in June
The She’s Connected by AT&T program was launched in December 2020 to support and highlight women athletes and entrepreneurs. The program includes a grant contest for women-owned small businesses, offering a $50,000 grand prize, a year of AT&T service with a new device, and additional promotional opportunities. As of February 2025, the She’s Connected by AT&T program has awarded a total of $90,000 in grants to women-owned small businesses.
Eligibility Criteria:
- Legal residents of the United States who as of the date of their entry into the contest are at least 18 years
- Sole or majority owner of a female-owned small business
- Limit of 50 or less full or part-time employees
- Submission of 750-word essays are required
- Additional Criteria here
14. Fed-Ex Small Business Grant – Amount: $20,000 – $50,000; Application Window: Not Yet Announced, Typically Opens in March
The FedEx Small Business Grants Program is a grant program started by FedEx in 2012 to award U.S.-based entrepreneurs with grants to enhance their businesses. In 2024, the grant prize winner received $50,000 with others receiving $20,000. Since its inception in 2012, the FedEx Small Business Grant Program has awarded over $2 million in cash and prizes to more than 120 small businesses across the United States.
Eligibility Criteria:
- The owner must be a legal resident of the US
- The owner must be at least 18 years old
- The owner must be an authorized agent of the registered business;
- The business must be a for-profit domiciled in the US and in continuous operation for at least six months prior to the application opening
- The business must have a valid FedEx shipping account open for at least six months prior to the application opening and a current shipping customer with FedEx
- The business must have no more than 99 employees (part-time or full-time)
- The business must be currently active, lawful, have all necessary and required licenses and registrations as required by the state(s) in which it operates
15. Fund Her Future by H&R Block – Amount: $12,500 – $50,000; Application Window: Not Yet Announced, Typically Opens in April
Fund Her Future is H&R Block’s business grant for women, launched in 2024. Block Advisors by H&R Block is providing more than $100,000 in grants and services to five women-owned businesses. One first prize winner will receive a grant of $50,000. Four additional honorable mention winners will receive a grant of $12,500. All winners will also receive access to a year of small business services, such as business structure analysis, bookkeeping, payroll, beneficial ownership reporting, and tax support, from the experts at Block Advisors.
Eligibility Criteria:
- Small businesses with at least 51% female ownership whose owners are 18 years+ and living in the U.S.
- Additional criteria here
Where to Find Additional Grants
The small business grant landscape is undoubtedly fragmented and difficult to navigate. And with shifting corporate priorities around Diversity, Equity and Inclusion, a grant could pop up one year and disappear the next (again, whack-a-mole). Fortunately, there are certain organizations which have done the leg-work and aggregated grant opportunities for entrepreneurs. The resources are available, if you know where to look. Check out this article with a list of websites to find grants, along with the list below.
- Capital Klub is a subscription-based funding discovery platform launched by Brittani Hunter at Mogul Millennial designed to help Black and underestimated entrepreneurs access grants, accelerators and pitch competitions. Since its launch, founders have secured up to six figures in funding after discovering opportunities directly through their platform. Access to their complete grant database is $15.99/month or $139/year.
- Hello Skip offers a comprehensive platform where users can discover and apply for various funding opportunities, including grants, loans, and credit options. The platform also provides tools to streamline application processes, such as AI-assisted application writing and secure storage solutions.
- USBusinessGrants.org is an online platform dedicated to assisting small businesses in identifying, applying for, and securing various grant opportunities. The website offers a centralized resource for business owners to explore funding options across multiple categories, including: government grants including federal, state, and local grants available to small businesses; industry-specific grants; private grants from nonprofit organizations, private entities, and corporations and demographic-based grants: aimed at supporting minority and women-owned businesses.
- Ladies Who Launch is a 501(c)(3) non-profit organization dedicated to inspiring, empowering, and funding women and non-binary entrepreneurs globally. Founded in 2019 by Sarah Friar, CFO of OpenAI, and Kelly McGonigle, Head of Events at Mutiny, the organization aims to bridge the equity gap in entrepreneurship by providing essential resources and support and offers a free grants database.
- IFundWomen is a funding marketplace designed to support women entrepreneurs by providing access to capital, coaching, and connections. The platform offers various funding avenues, including crowdfunding campaigns, corporate grants, and Small Business Administration (SBA) loans. IFundWomen encourages its community to complete a Universal Grant Application so that when new grant opportunities arise, they can match the grant to the businesses in their database.
