Render Capital Announces First Dollar Program; Aimed at Supporting Black and Brown Entrepreneurs in Louisville and Southern Indiana
    Render Capital Announces First Dollar Program; Aimed at Supporting Black and Brown Entrepreneurs in Louisville and Southern Indiana
    Render Capital

    LOUISVILLE, KY, June 1st, 2021

    Render Capital Announces First Dollar Program; Aimed at Supporting Black and Brown Entrepreneurs in Louisville and Southern Indiana

    15 June 2021

    Program provides critical grants to those who lack capital access due to systemic inequality

    Render Capital, a $15 million regional fund of Access Ventures that is focused on providing early-stage risk capital for entrepreneurs in Louisville and Southern Indiana, has announced its First Dollar program, which will help support and invest in Black and Brown entrepreneurs in the area, providing them with critical “first dollars” to help their startups thrive.

    “Oftentimes, Black and Brown entrepreneurs lack capital access due to historic and systemic inequality,”“During the earliest stage of business development – a critical time for funding – these entrepreneurs are less likely to have the financial support from friends and family to ensure their business is a success. Render Capital’s mission is to support Black and Brown entrepreneurs in our area, helping them build generational wealth through successful business ownership. We’re proud to play a small part in helping take these local businesses to the next level with this grant program.”

    Vanessa Koenigsmark, Senior Associate at Render Capital.

    The First Dollar program is launching in collaboration with local entrepreneurial support organization Amplify Louisville, and will provide $5,000 grants to 20 local businesses at the earliest stage of business development, for a total investment of $100,000 in the local community. Grant recipients will be for-profit organizations, located in Jefferson County, Kentucky or Clark and Floyd County, Indiana, who are seeking their first significant capital contribution. To determine which local startups will be funded, Render Capital has partnered with four local, Black-led organizations – Louisville Urban League, Russell: A Place of Promise, GEDDI, and Change Today, Change Tomorrow. Through this partnership, Render Capital is empowering those who work closely with Black and Brown entrepreneurs to facilitate the disbursement of grant funds. As part of the First Dollar program, the four partnering organizations have until the end of 2021 to fund five startups each of their choosing.

    “We’re proud to partner with Render Capital for this grant program and look forward to seeing the strong impact this funding will have on Black and Brown entrepreneurs,”“Early investment in these entrepreneurs and their businesses will have a lasting impact in the community."

    Cynthia Brown, Managing Director of Black Business Initiatives, Louisville Urban League.

    Oftentimes, when an individual has an idea for a new business, they turn to their savings, family or friends to help turn the idea into reality. However, Black households have a median net worth of just $12,920, less than one-tenth of the median net worth of white American households. Studies show that both Black and Brown entrepreneurs are substantially less likely to have the financial capital available in their social networks to fund the creation of new businesses, and the opportunity for wealth creation is stifled as a result.
    The First Dollar program is a collaborative community effort and a variety of stakeholders are needed to ensure success in the future. Organizations interested in playing a role in The First Dollar program should email vanessa@render.capital. To learn more about the program, visit www.render.capital/firstdollar.

    About Render Capital                                                                                                                                                     Render Capital is a Louisville, KY-based investment firm focused on deploying a capital strategy that boosts the regional entrepreneurial ecosystem by investing in the best startups in our region. We envision a robust and thriving regional economy where entrepreneurs see Louisville and Southern Indiana as a place they can find appropriate risk capital necessary for them to start and grow. Render Capital is a regional fund of Access Ventures. Learn more at http://render.capital.

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