Sage, the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses, in partnership with The BOSS Network, an online community of professional and entrepreneurial women, announced the 35 awardees of the 2022 Sage Invest in Progress grants to support black women entrepreneurs in their first five years of business.
The Sage Invest in Progress grant is a three-year, $1.5 million commitment by Sage (via the Sage Foundation) to support the newly announced BOSS Impact Fund, which is focused on investing in black women-led businesses and preparing entrepreneurs to build scalable, growth aggressive companies. The goal of the BOSS Impact Fund is to raise investment funding for 500+ black women entrepreneurs over the next three years.
Initially scoped to award 25 grants, the overwhelming response of more than 12,500 applicants nationwide encouraged Sage and The BOSS Network to expand the program with 10 additional grants in the Sage Invest in Progress program. These 35 awardees represent entrepreneurs from around the country and in various industries, including Beauty & Self-Care, Consumer Goods, Professional Services, Healthcare/Wellness, and Food and Beverage.
As part of the BOSS Impact Fund, the Sage Invest in Progress grant includes a 12-month program of entrepreneurial mentorship and education focused on knocking down barriers to business success and guiding these businesswomen to reach their full potential.
Each Sage Invest in Progress grant awardee receives:
- $10,000 USD in funding
- Quarterly business training courses through BOSS University sponsored by Sage, focusing on Marketing, Finance, Customer Service, and Business Strategy
- Access to The BOSS Network online community
- Complimentary Sage Business Cloud Accounting software
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“This is such an outstanding moment for The BOSS Network,” said Cameka Smith, Founder and CEO of The BOSS Network. “The launch of our first BOSS Impact Fund, as well as our incredible partnership with Sage, are not only a testament to the strength of The BOSS Network brand, but also the power of our community of entrepreneurs and business owners. We are ecstatic for the 35 awardees and look forward to guiding them on their road to success.”
“We are astounded by the overwhelming response to our inaugural Invest in Progress grant. It’s apparent there is immense need to remove the capital investment barrier for black businesswomen,” said Aziz Benmalek, interim president, Sage North America. “Sage is committed to supporting these women and continuing to invest in underrepresented communities for an equitable future.”
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