The BALSA Foundation, a non-profit organization dedicated to supporting minority entrepreneurs, has announced the launch of a new grant program. This program aims to provide funding and resources to help minority entrepreneurs start and grow their businesses. The grants will be awarded on a competitive basis and will support a wide range of business ideas and industries.
We offer the BALSA Grant to help first time entrepreneurs get their ideas off the ground.
BALSA Grant finalists receive:
- Free (non-dilutive) cash grant of $1,000
- The Learning Series, a 10 week comprehensive entrepreneur training program that helps participants realize their potential, introduces them to the St. Louis business ecosystem and brings them industry experts every week that also includes one on one time with each presenter after the session. (Valued at $20,000+ in In-kind professional services
- One-on-one mentoring
The BALSA Grant is designed for first-time St. Louis entrepreneurs wanting to start or grow their early stage business in St. Louis. We welcome applications from all business sectors, and from non-profit as well as for-profit organizations.
You can apply to The BALSA Grant twice a year, January 1-24 and July 1-24.
Before applying, be sure to download and read the Entrepreneur’s Roadmap. Also, submitting your idea to Idea Support is a great way to get feedback to improve your BALSA Grant application.
More details about the BALSA Grant:
Contact us if you have any questions.
IN GENERAL, HAVING TEAM MEMBERS WITH THE FOLLOWING CRITERIA WILL MAKE AN APPLICATION INELIGIBLE FOR THE BALSA GRANT:
- Being under the age of 18.
- Having started a successful business before. We wish to exclude serial entrepreneurs and those who were or are making a living from a business they started.
- Having received any outside equity investment, significant outside funding, or a previous BALSA Grant. Financial support from the founders, their family, and personal friends is OK.
- Living outside of the greater St. Louis area. Our aim is to help those in the St. Louis region, broadly defined as residing or operating within 25 miles of St. Louis City Hall.
- Important: We will not review applications which are outside of the word limits described in the application (1300-1800 characters per section). For more information on writing a strong application look on our website: http://www.balsafoundation.org/strong-applications
We welcome applications from all business sectors, whether for-profit or non-profit, and from everyone regardless of US citizenship. We reserve the right to adjust our eligibility criteria, however.
Please contact us if you have questions or are unsure if you are eligible. Special consideration can be made in exceptional circumstances.
TIMELINE FOR WINTER APPLICATIONS
January 1 – 24th: Applications Open
Jan 25th – Feb 5th: Eligibility Checks
Feb 6th – 28th: Second Round of Reviews
March 1 – 11th: Final Round of Reviews
Third Week of March: Winners Chosen
Last Week of March: Winners Notified
Early – Mid April: Pitch Practices
Mid April: $5K Pitch Competition
Late April: Awards Ceremony
May: First 2 – 3 sessions of Learning Series
June: 4 Square One Ignite Sessions!
Month of July: Last BALSA Learning Sessions
SUMMER APPLICATIONS
July 1 – 24th: Applications Open
July 25th – Aug 5th: First Round of Reviews
Aug 6th – 28th: Second Round of Reviews
September 1 – 11th: Final Round of Reviews
Third Week of September: Winners Chosen
Last Week of September: Winners Notified
Early – Mid October: Pitch Practices
Mid October: $5K Pitch Competition
Late October: Awards Ceremony
Early November: 1st Sessions with BALSA Cohort
Take off December
January: Additional BALSA Sessions
February – March: Square One Ignite Sessions!
