Rise Challenge is an innovation contest to generate new ideas and solutions to the challenges that face entrepreneurs of color from starting and growing their businesses.
Donor Name: Prosperity Now
State: All States
County: All Counties
Type of Grant: Awards and Prizes
Deadline: 05/15/2024
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
Entrepreneurs of color are disproportionately impacted when it comes to economic access and opportunities. Without access to capital, entrepreneurs of color face additional challenges to start or expand a business, limiting their ability to compete in the marketplace, and grow wealth.
This lack of access to capital created the emergence of non-profit loan funds through Community Development Financial Institutions (CDFIs) which sought to better the conditions in these economically underserved markets.
Prizes

First Place Team: $75,000.
Second Place Team: $50,000.
Third Place Team: $25,000.

Eligibility Criteria 
The Challenge is open to legal United States residents of the 50 United States, the District of Columbia, and Puerto Rico who are 18 years of age or older. Sponsor reserves the right, at any time, to verify eligibility requirements in any manner it deems appropriate. Employees and Directors of the Sponsor, and their immediate family members and individuals residing in their same household are not eligible to participate.
For more information, visit Prosperity Now.