£20,000 grant fund for Black-owned small businesses in the UK

Each year, PayPal provides local-level grants and support to communities around the world as part of the company’s commitment to powering an inclusive and equitable economy. Earlier this year, they awarded Kwanda a $50,000 grant to support our mission. 

We are investing £20,000 of that funding directly into Black-owned small businesses in the UK. Selected founders will receive £1,000 or £5,000 in grants, along with an offer of additional support and mentorship via YSYS, a startup community dedicated to connecting diverse people with opportunities in tech.

The Grants

The following awards are available:

Kickstarter Award x 5 - £1,000 each to kickstart a new idea

The Kickstarter award is to support early-stage entrepreneurs to test and validate their new business ideas. Founders will be able to use it for any purposes that support the development of their business idea. 

Eligibility criteria:

• You are black and/or mixed-race entrepreneurs building a new idea

• You are based in the UK

• Your idea has generated less than £10,000 in revenue to date

Boost Award x 3 - £5,000 each to scale up operations 

The Boost Award is to support innovative black-owned small businesses to scale their operations. Founders will be able to use it for any purposes that support the scaling and growth of their businesses. 

Eligibility criteria:

• You are black and/or mixed-race entrepreneurs building a small business

• You are based in the UK

• Your annual revenue is below £100,000

Investment Process

Kwanda will assemble an Investment Committee to review applications for the different awards. Businesses and ideas in development will be assessed on this criteria:

• Solid business model

• Clearly differentiated unique selling point or unique value proposition

• Evidence of innovation

• Potential for growth

Application

The deadline for applications has passed.