UPS Ignite Grant Program

Program Overview:
The UPS Ignite program provides grants and support to diverse small business owners and entrepreneurs. In partnership with ACCION Opportunity Fund (a Community Development Financial Institution), UPS awards grants to help diverse founders grow their businesses.

Key Features:

• Grant Amount: $10,000 per recipient
• Geographic Scope: National program
• Focus Areas: Supporting women-owned and diverse-owned small businesses
• Target Beneficiaries: 10 of 140 founders in the UPS Ignite program receive grants

What They Fund:

• Business growth and expansion
• Working capital for diverse small businesses
• Support for minority entrepreneurs facing access to capital challenges

Eligibility:

• Women-owned businesses
• Diverse-owned businesses (minority entrepreneurs)
• Small business owners

Additional Support:

• Mentorship programs
• Executive-level education (partnerships with universities like Northwestern University Kellogg School of Management)
• Business coaching
• Leadership development programs
• Access to small business loans through ACCION
• Business advising
• Digital tools and resources

Contact & More Information:

• Website: www.aofund.org/ups
• Partnership: ACCION Opportunity Fund (CDFI)
• ACCION Track Record: 20,000+ loans originated in 27-year history; 60% of borrowers report increased sales post-loan

Background:
UPS launched this program in November 2021 to address the significant disparity in access to capital for diverse founders. The program recognizes that:

• Non-Black business owners are 30X more likely to get federal relief than Black counterparts (University of Michigan)
• Median seed round for Black woman founder is 1/20th of national median (ProjectDIANE)