TikTok and Black Girl Ventures are partnering on a new grant that will empower Black entrepreneurs and improve equity in accessing capital.
The Innovate Together Grant Program will provide a combined $50,000 in funds to 12 small businesses, with grants ranging from a minimum of $2,500 to a maximum of $10,000. The grants are intended to help Black entrepreneurs collaborate with content creators or experts for the purposes of marketing or strategy. Applications must be submitted to blackgirlventures.org by the February 29 deadline. Small business owners must have a TikTok account to be eligible and must report on their collaboration within three months of receiving their grant. Recipients will also be required to attend a business development seminar in March.
The Innovate Together Grant marks the latest in a series of partnerships between TikTok and initiatives targeting underserved communities. In May 2023, the platform gave $1 million to Black Girl Ventures for the purpose of awarding grants, funding educational courses, and helping Black entrepreneurs leverage social media to market their brands and products. That month also saw a donation of $1 million delivered to #CreciendoconTikTok, a Hispanic-focused non-profit, for the purposes of supplying funds to entrepreneurs from diverse backgrounds and building a network of business owners.
All three programs mentioned above require applicants to integrate TikTok, in some form, into their marketing strategy, whether by attending classes or working with creators on the platform. Recently, the social media company launched an in-app shopping feature that allows users to purchase directly from a brand’s profile.
