Texas Woman’s University is looking to invest more in female entrepreneurs with a new grant program.
The Women’s Enterprise Training and Micro Grant program will award $5,000 grants to existing or up-and-coming women-owned businesses in need of funding for machinery, equipment, technology, marketing, or other business-related endeavors. Up to 10 businesses will be selected, according to the university.
The grant program is led by TWU’s Center for Women in Business, which was launched by the Texas Legislature in 2015 as the state’s only university center focused on women’s entrepreneurship and business ownership. To date, the center has mentored more than 100 female business owners, sponsored research for the Dallas Women’s Foundation, and provided scholarships for 39 undergraduate and graduate students, according to TWU.
“This program is a great way for someone looking to start the business she’s always wanted to, and to get both the funding to kick-start it and the training needed to sustain it.”
With the new grant program, the university wants to inspire more innovation by female entrepreneurs. To receive the grant, businesses must agree to match the funds with at least 10 percent of equity. The equity may not be linked to debt and must be readily available by the time the application is completed.
“This program is a great way for someone looking to start the business she’s always wanted to, and to get both the funding to kick-start it and the training needed to sustain it,” said CWB Director Shannon Mantaro, in a release.
The grant will be awarded in two installments — $2,500 when selected and another $2,500 once the recipient has completed small business training courses at the university as well as submitted a business plan approved by CWB staff.
To be eligible, businesses should meet the following requirements, according to the university:
- At least 51 percent of the company is directly owned by women who are U.S. citizens
- The company has five or fewer employees
- All required taxes, permits, and licenses are up to date
- The business or business owner must not be involved in current or pending litigation
- The business operates as a for-profit corporation
Grant applications are due by 5 p.m. Feb. 23.
For the full list of conditions and to apply, visit the center’s website.
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