Business software developer Sage, in partnership with female-minded entrepreneurial online community The BOSS Network, announced Wednesday the
Sage will support 25 Black women entrepreneurs with $10,000 each during those five years. The grant will further include a year-long mentorship and education program; quarterly business training courses via BOSS University; access to the Boss Network online community; and complimentary Sage Business Cloud Accounting software.
The Sage Invest in Progress grant looks to support the previously announced BOSS Impact Fund, which aims to raise investment funding for more than 500 Black women entrepreneurs over the next three years.
“It has been reported that the single greatest barrier to success for new businesses and startups is access to capital — and minorities make up less than 1% of founders that receive that investment. With The BOSS Impact fund, we are working with partners like Sage to address that disparity head on,” said Cameka Smith, founder of The BOSS Network, in a statement. “The Sage Invest in Progress program will build on the work of The BOSS Network to not only empower Black women entrepreneurs but also arm them with the resources they need to lead successful businesses and increase their market share.”
“At Sage, we have committed to knocking down barriers that foster an advantage for some groups while creating obstacles for others. Capital investment is one area that we’ve recognized as a barrier, particularly for Black businesswomen,” said Aziz Benmalek, interim managing director at Sage North America, in a statement “Sage is dedicated to being a part of a cultural shift that will help bring about a business community that is more equitable and sustainable for all.”
The Sage Invest in Progress grant application window opens Jan. 26 and closes Feb. 25, 2022. To apply, or for more information, visit the grant application
