Payment app Square partnered with the Social Change Fund United and entrepreneurs Dwyane Wade, Rosario Dawson and Ayesha Curry to launch Forward, a new accelerator program providing funding, mentorship, and coaching for Black and Latino entrepreneurs.
Forward will award 25 early-stage businesses with $20,000 in funding along with exclusive access to training on topics ranging from leadership and customer development to scaling operations and managing financial growth. Members of the inaugural cohort will receive Square checking and savings accounts, Square hardware, attend intimate mentor masterclasses and work on an individual level with coaches to discuss their unique business needs.
“Latinos open businesses at a rate about 55% higher than their white counterparts, and still have a harder time staying in business and getting the support they need to grow,” said actress and entrepreneur Rosario Dawson, in a statement. “By launching Forward today, we’re eager to help entrepreneurs of color in the retail sector overcome systemic barriers and make their budding businesses grow.”
Program applications opened on March 16 and will close on April 1. American Express will also support the Forward initiative through funding and coaching opportunities for program participants.
1. Cole Haan