Monday, June 24, 2013

Grant for Young Entrepreneurs Working to Help the Poor

Once again, the exception proves the rule.  While there are hardly any legitimate grants for for-profit businesses, the Hitachi Foundation has a competitive grant program that specifically targets businesses started by young people that benefit the poor.

The Yoshiyama Young Entrepreneurs Program awards grants to businesses started by young people (between 18 and 29) that benefit "low wealth" Americans.  The business must have been up and running (and making money) for at least 12 months, but not more than 5 years, so this is NOT about funding a start-up.  Those awarded the grants will get $40,000, plus mentoring and technical assistance to take their work up to another level.  And while either for or non-profits are eligible, non-profits must be supported by a business model, rather than through grants and contributions.  See more about their selection process. This is for a small number of recipients--and part of the criteria is improving the lives of the poor.  And that improvement has to come through some other way than supporting charities through profits.  Do you employ, train, or educate the poor?  Look at these examples of past awardees to see if your business may qualify.

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