Daymond John, entrepreneur and star of Shark Tank, recently announced a $100,000 grant program aimed at boosting Black-owned businesses. This initiative is part of John’s longstanding commitment to fostering entrepreneurship within the Black community. Designed to provide financial support and resources, the program aims to alleviate some of the barriers Black entrepreneurs face in securing funding and building sustainable businesses.
John, who has openly discussed the challenges he faced as a young Black entrepreneur, recognizes the struggles that many Black business owners continue to experience. Systemic barriers to financing, limited access to investment networks, and fewer resources are common issues that Black entrepreneurs encounter. This new program seeks to tackle these challenges by offering more than just a financial boost—it will also connect recipients with guidance, mentorship, and networking opportunities.
The grant program, launched under his brand The Shark Group, reflects John’s vision to cultivate a more inclusive entrepreneurial landscape. It aligns with recent data showing that while Black entrepreneurship has been growing, Black business owners still receive less funding and have lower profit margins than their peers. By providing resources to address these disparities, John hopes to empower recipients to expand their businesses, hire staff, and contribute to their communities.
Applications for the grant are open, and John encourages eligible Black entrepreneurs to apply. With this initiative, John is demonstrating that a commitment to inclusive economic growth is essential for a stronger and more diverse business environment.
