ATLANTA- Fearless Foundation, the philanthropic arm of Fearless Fund, the first venture capital fund built by women of color, for women of color, has partnered with Amazon’s Black Business Accelerator for a multiphase grant program that will bolster Black women-owned, consumer product-based business.
The program offered seventy-five Black women-owned, product-based businesses with monetary grants, en- rollment into Amazon’s Black Business Accelerator (BBA), and a Professional Selling Account in Amazon’s store.
Through this unique cohort, Black women-owned businesses are receiving grants in amounts between $10,000 – $20,000, in addition to enrollment in Amazon’s Black Business Accelerator, which is dedicated to providing growth opportunities for Black-owned product-based businesses selling in Amazon’s store. This marks a significant opportunity for greater representation in retail as only 6 percent of US retail businesses have a Black owner, despite Black Americans representing 14 percent of the US adult population as of data from 2020 (Hello Alice).
“We are excited to enroll business grant recipients in Amazon’s Black Business Accelerator, giving each brand access to an unparalleled network of mentors that will allow them to reach their professional goals,” says Arian Simone, Co-Founder and General Partner of Fearless Fund.
“Mission-driven partnerships are critical to stimulating economic growth. We are excited to partner with the Fearless Fund to support 75 incredible Black women entrepreneurs in achieving their dreams. By participating in Amazon’s Black Business Accelerator, founders will ac- cess a suite of resources, including financial assistance, business education and coaching, and marketing support. BBA supports the success of Black-owned businesses by providing a place for their businesses, to start, scale, and create a community to encourage and inspire them along the journey. We believe, when we knock down barriers for Black-owned businesses, through those learnings, we unlock the door for all small businesses to thrive. We stand firm in our vision to target systemic barriers and leverage our entire community to create sustainable pathways to equity that build generational wealth for not only Black-owned businesses and Black women-owned businesses, but all underserved businesses,” says Danyel Surrency Jones, Director, and Head of Amazon’s Black Business Accelerator.