McKinsey Fast Grants 2025

Grant Overview

$10,000 Business Growth Opportunity for Chicago Entrepreneurs

Donor: McKinsey & Company, Allies for Community Business (A4CB)

About: The McKinsey Fast Grants program represents a transformative opportunity for Chicago’s emerging business leaders, combining substantial financial support with world-class business expertise. Through this initiative, four promising entrepreneurs will each receive $10,000 in grant funding, paired with six months of dedicated mentorship from McKinsey’s industry experts.

The program specifically targets underrepresented founders, including first-generation business owners and entrepreneurs from economically disadvantaged communities, demonstrating McKinsey’s commitment to fostering inclusive economic growth in Chicago. What sets this grant apart is the comprehensive support package that extends far beyond financial assistance. Recipients gain access to McKinsey’s vast consulting expertise through bi-monthly strategic sessions, focusing on crucial areas like financial modeling, growth strategy, and operational optimization.

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Focus: Small business development, entrepreneurship support, community impact, business scaling, organizational growth, underrepresented founders, economic development, Chicago business community

Region: Chicago, Illinois, United States

Eligibility:
-Must be a Chicago-based organization
-Organization can be either for-profit or non-profit
-Business must have generated the first sale
-Founder must be 18 years or older
-Must demonstrate potential for significant community impact
-Must commit to three 2-hour workshop sessions between May and November 2025
-Must be from an underrepresented group (first-generation business owners or economically disadvantaged communities)
-Must provide a government-issued ID and completed W9 tax form

Benefits:
-$10,000 grant funding
-Six months of McKinsey expertise and support (May through November 2025)
-Bi-monthly meetings with McKinsey consultants
-Access to specialized business capabilities including:
–Financial modeling assistance
–5-year business planning support
–Growth strategy development
–Operational strategy optimization
–Organizational structure assessment
–Technology assessment services
–Cost assessment expertise

Deadline: February 28, 2025

Terms:
-A4CB: Allies for Community Business – An Illinois nonprofit organization providing capital, coaching, and connections to entrepreneurs
-McKinsey & Company: A global management consulting firm focused on creating positive, enduring change in the world
-Fast Grants: McKinsey’s Chicago initiative designed to help local organizations with underrepresented founders achieve sustainable growth
-Underrepresented founders: First-generation business owners and/or founders from economically disadvantaged communities