Catalyst Grant FAQs
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New Horizons: Empowering Entrepreneurs for a Prosperous Tomorrow (Fall 2024)
Mountain BizWorks is thrilled to announce round four of micro-grant funding. These funds are dedicated to fueling the aspirations of creators, small business owners, and aspiring entrepreneurs, especially those who have faced challenges in realizing their dreams.
In this round, we are offering 20 grants, each amounting to $2,500, to startups and emerging businesses owned by people of color across Western North Carolina. These grants are designed to infuse your business with the capital it needs to start, grow, and break through barriers. We believe in the power of new beginnings and are committed to supporting the entrepreneurial spirit that drives our community forward.
This year, we are looking for ideas that not only have high growth potential but also envision a future of innovation, sustainability, and community impact.
How will your business idea contribute to a brighter and more prosperous tomorrow? Share with us how a grant of $2,500 will help you turn your visionary idea into a reality.
How to Apply:
To apply for the "New Horizons" grant, simply fill out the online application form on our website and submit a 60-second video. In this video, express how a $2,500 grant will help accelerate you turn your visionary idea into a reality. Please note, your application is incomplete without this video, which is crucial in showcasing your vision and the potential impact of your business.
Applications are being accepted in “rounds”. You must submit a new application for each round in order to be considered for funding in that round.
Email Tiarra Wilkie, Mountain BizWorks’ Catalyst Program Manager, at tiarra@mountainbizworks.org with any issues related to your application.
Eligibility:
To be eligible, an applicant must meet the following requirements:
- Business Ownership: The business should be at least 50% owned and controlled by individuals from historically underrepresented groups in business.
- Business Location and Operation: The business must be a for-profit entity, situated and operational within Western North Carolina. We are looking to support businesses that contribute to the local economy and community.
- Business Stage and Revenue: We welcome applications from a wide spectrum of business stages – from those in the ideation phase to early-stage startups, as well as existing businesses. To qualify, your business should have annual gross revenues of less than $150,000. This criterion is in place to ensure we are supporting businesses that are in the most critical stages of growth and development.
- Local Impact: Your business should be independently owned and operated. We are looking for businesses that have a clear understanding of how they fit into and impact the local community. Applicants should be able to demonstrate both the need for funding and how the grant will catalyze their growth and community contribution.
Non-profit organizations are ineligible for this particular funding program.
Awards will be made to qualified businesses, and eligibility is based on accurate and complete submission.
Applicants may apply for one business only and must be 18 years of age to apply. For business owners with multiple businesses, please complete this application for a single one of your businesses. Each grant is limited to one individual/business.
Use of Proceeds:
The grant funds may only be used for qualified business expenses.
The Grantee shall fully comply with all applicable federal, state, local (and any other governmental) laws, executive orders, rules, and regulations in connection with its use of grant funds.
Deadline to Apply:
The online application will be opened on September 11, 2024 and run until October 11, 2024. Applications must be completed and submitted no later than 11:59 PM on Thursday, October 3, 2024. Applications submitted after the deadline or that are incomplete (i.e. missing required information) will not be considered. Selections will be made and notifications sent out to grantees by the first week of November, 2024.
- Application Window Opens: September 11, 2024.
- Application Window Closes: October 11, 2024.
- Grantee Notifications Sent Out: First week of November, 2024.
If you are selected as a grantee, you will hear from Mountain BizWorks via email by the following date listed below:
- Round 4 – Selections will be made and notifications sent out by First week of November, 2024. Awardees will be recognized at the Mountain Raise event on November 14, 2024.