Santander X Cultivate Small Business Grant for Women and Minority-Owned Food Businesses

Grant Overview

Donor: Santander Bank

About: The Santander X Cultivate Small Business Grant is a comprehensive initiative aimed at supporting women and minority-owned food businesses. This 12-week program offers participants a range of benefits, including industry-specific education, networking opportunities, mentorship from food industry experts, and MBA-level learning experiences from Babson College. Eligible businesses can receive up to $13,000 in capital grants to foster their growth and sustainability.

The Santander Bank Cultivate Small Business Grant is designed to empower early-stage women, BIPOC, or immigrant-owned food businesses in emerging neighborhoods. This initiative offers a comprehensive 12-week program that includes:

-Industry-specific education and networking opportunities.
-Mentorship from seasoned food industry professionals.
-MBA-level learning experiences facilitated by Babson College.
The program is completely free for eligible entrepreneurs.

The program, founded in 2017, initially targeted the Greater Boston area and has since expanded to several major markets, including Massachusetts, New York, Rhode Island, Philadelphia, Dallas, and Miami. To qualify, food businesses must be owned by women, immigrants, or BIPOC individuals, have been in operation for at least one year, and have annual revenues between $25,000 and $1,000,000.

The program is conducted live via Zoom and runs two cohorts annually: the Fall cohort supports businesses in Philadelphia, Dallas, and Miami, with applications accepted from March through June, while the Spring cohort supports businesses in New York, Massachusetts, and Rhode Island, with applications accepted from November through January.

Focus: Women-owned food businesses, minority-owned food businesses, immigrant-owned food businesses, early-stage food businesses, food industry education, networking, mentorship, MBA-level learning, business growth, sustainability

Region: Greater Boston area, Massachusetts, New York, Rhode Island, Philadelphia, Dallas, Miami

Eligibility:

-Woman-, immigrant-, or BIPOC-owned food businesses
-In operation for at least one year
-Annual revenues between $25,000 and $1,000,000

Benefits:

-Up to $13,000 in capital grants
-12-week food-focused curriculum
-Mentorship from industry professionals
-MBA-level learning experiences

Terms:

-Women and minority-owned food businesses: These are food businesses where the majority ownership (51% or more) is held by women, immigrants, or individuals from Black, Indigenous, and People of Color (BIPOC) communities. — Early-stage food businesses: These are food businesses that are in the initial phases of their development, typically within the first few years of operation, and are looking to expand and grow.

-BIPOC: Black, Indigenous, and People of Color
-MBA: Master of Business Administration