DIFFvelopment's Black Economic Empowerment Fund

Changing the Black Narrative Through Business Creation: Creating Funded and Informed Young Black Business Owners as a Form of Economic Protest

Purpose: To re-empower people of African descent through business ownership. 

The Problem: Due to a lack of black wealth caused by centuries of economic oppression, there is a lack of investment in aspiring black entrepreneurs who have the power to create black wealth through job creation and culturally specific philanthropy. 

Our Solution: A black business fund and fellowship program that provides young entrepreneurs with access to early-stage financing and education that will increase the likelihood of business success. 

Importance: It is the only fund for college students and recent graduates of African descent who are building businesses that foster black wealth by giving back to a notable element of the global black community. 

Awardee Selection Process: Once $1M is raised, 50 young black entrepreneurs will receive $20,000 after making it through three rounds of evaluation and four weeks of culturally specific entrepreneurial and financial education and business concept development. Awardees will have access to ongoing business support and will be required to submit quarterly reports for the first 12 months after receiving funds and annually for four years thereafter. 

DIFFvelopment is a 501(c)(3) tax-exempt nonprofit organization with the mission of “Re-empowering people of African descent one student at a time.” It fulfills its mission by addressing the lack of black generational wealth through culturally specific entrepreneurial and financial programs that empower college students of African descent to overcome socioeconomic barriers and build generational wealth.