Funding Essentials Project Description

Social Challenge:

Within the entrepreneurship space, marginalized communities are continuously subjected to inequality due to a range of factors, including negative social attitudes, differing motivations, and barriers to business creation. In 2018, it was found that women were 60% less likely to be self-employed than men. These numbers exacerbate once other aspects of identity and intersectionality are applied, such as race, age, and disability status. Marginalized communities are also susceptible to first being impacted during times of economic crises, as they are more likely to work in unstable careers or industries. These inequalities often begin manifesting from a young age, as they are often neglected by the education system and lack quality education that equips them with skill and motivation to pursue higher achievements. Furthermore, common misconceptions about entrepreneurship and grants pose a barrier and deterrent from marginalized communities pursuing their business goals.

Solution:

Funding Essentials hopes to tackle existing inequalities affecting women and marginalized communities through education programming. Funding Essentials is dedicated to helping social-minded entrepreneurs harness funding to make positive changes in the world. We help businesses, not-for-profit organizations, and charities identify opportunities for non-dilutive capital and grow to create greater social change. As a social solution, Funding Essentials will create a formal program to train marginalized individuals in research and writing skills to better equip them for a sustainable career. The purpose of this program is to demystify the process of grant writing to build confidence and grant funding for their projects. By providing quality education, we will help marginalized individuals overcome inequalities and advocate for themselves to find a viable wage with a positive work/life balance. Furthermore, we will also foster a high school and university student mentorship program to empower the next generation to pursue their own entrepreneurial dreams. By equipping them with the right skills and mentorship, we will inspire the next generation to pursue further tangible, social change. These opportunities will not only provide quality training, but offer mentor figures to help participants navigate the entrepreneurship industry, career paths, and life pursuits.