The Mastercard Center for Inclusive Growth has announced the recipients of the Mastercard Strive Innovation Fund, awarding nearly $2 million in grants to 11 innovative organizations. The grants aim to support early-stage solutions that drive small business growth, financial resilience, and environmental sustainability. The program focuses on categories such as sustainability, digitalization, and community lending. The recipients of the grants include organizations working on digital solutions for small businesses' growth in environmental sustainability and data for market access. The grants will also support organizations in Europe, the Middle East, Africa, Latin America, the United States, and Samoa.
In addition to Mastercard, FedEx has launched its 12th Annual Small Business Grants Program, offering over $230,000 in grants and services to ten standout small businesses in the US. The application phase began on March 1, 2024, with the grand prize set at $50,000. Eligible businesses must be FedEx customers based in the US, operate on a for-profit basis with 1-99 employees, and have been selling a product or service for at least six months. Winners will also receive additional resources such as FedEx Office print credit, personalized customer service, and a feature on the FedEx Small Business Center website. The program has distributed over $2 million to more than 120 small businesses since its inception. The application window is open until April 1, 2024, with winners announced on May 16, 2024.
PepsiCo has also announced the return of its Greenhouse Accelerator Program: Juntos Crecemos (Together We Grow) Edition. The program provides funding and PepsiCo expertise to help start-ups grow their business. The North American edition of the program is focused on Hispanic-owned CPG beverage and snack startups that demonstrate the promise of transforming the industry. Applications for the accelerator are now open, and up to eight start-ups will be accepted. Each finalist will receive a $20,000 grant, with the winner getting an additional $100,000. Participants will also receive expert guidance and learning modules across various aspects of business development. Last year's winner was Daniel Schwarz, founder & CEO of Mexican-inspired snack company Chuza.
Dine Brands Foundation has announced its support for the International Franchise Association's new Franchise Ascension Initiative. The initiative is an accelerator program established to support individuals from underrepresented communities with education, mentorship, resources, and financial support to successfully launch a career in franchise ownership. The Dine Brands Foundation pledged $100,000 to launch the effort, which will begin accepting applications in the coming months. The first cohort of participants is expected in late 2024. The Franchise Ascension Initiative aims to increase diversity in the franchisee talent pipeline, narrow the wealth gap, and provide business ownership opportunities to qualified individuals. According to data from Oxford Economics, Black-owned franchises earn 2.2 times more than Black-owned independent businesses; Hispanic-owned franchises earn 1.6 times more than Hispanic-owned independent businesses; and Asian-owned franchises earn 1.4 times more than Asian-owned independent businesses. The program will select capable candidates for a rigorous six-month education program, curated specifically for participants, along with individualized mentorship. The program will culminate in a pitch contest with potential franchise opportunities.
These initiatives from Mastercard, FedEx, PepsiCo, and Dine Brands Foundation demonstrate their commitment to supporting small businesses, promoting innovation, and increasing diversity in the global business landscape.
Jack Dorsey's initiative, called Start Small, has donated $21 million to the Bitcoin nonprofit Opensats to support its development. The donation aims to enhance the capabilities of Opensats, a project focused on building open-source software for the Bitcoin network. The funding will be used to hire developers and accelerate the development of Opensats' technology. Jack Dorsey is the co-founder and CEO of Twitter and Square, and he has been a vocal supporter of Bitcoin and cryptocurrency. The donation from Start Small is part of Dorsey's ongoing efforts to promote the adoption and development of Bitcoin.