Instagram has announced a new $ 650k grant program for black-owned manufacturers and businesses

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There is Instagram Announcement The next stage The #BlackVisionaries funding program, which, in conjunction with the Brooklyn Museum, will see Instagram allocate $ 650,000 in grants to black artists, black designers and small businesses owned by blacks.

Explained by Instagram:

“For the past three years, we have been collaborating with the Brooklyn Museum and Sergeant Antwan (Author, Curator and #BlackVisionaries Creative Chair) To promote and support historically excluded creative voices. And today we work together to improve, center and invest in Black Voice and companies working in industry and design. “

Last year’s #BlackVisionaries program provided কালো 205,000 in grants to five black designers, this year’s program has taken a big step, and is providing more support for the under-represented community.

“We will donate 10 #BlackVisionaries in partnership with the Brooklyn Museum. This includes five $ 100,000 visionary small business grants for black-led organizations in the United States focused on design. And with the support of Meta Open Arts, we’re providing five $ 30,000 Emerging Perspectives grants for people focused on art and design in the United States. “

Black creators have a significant cultural impact, which is not always recognized by social platforms, while businesses owned by blacks have also been disproportionately affected by the epidemic.

Indeed, according to data from Federal Reserve, In the United States, 41% of black-owned businesses were forced to close at the beginning of the epidemic, while only 17% of white-owned businesses closed during the same period. Research also shows that Blacks have owned businesses 20% less than white owned companies To get a loan from a big bank, while Meta’s own ‘State of Small Business’ report Shows Businesses in the majority-minority neighborhood are constantly facing bad business results and high closing rates.

These effects extend to all sectors and it is important that, where possible, platforms such as Instagram focus on providing support for industry and small business communities that are often actively involved in the app.

As such, it is a logical and sympathetic initiative, which will help provide the necessary reassurance for many brands.

Applications for this year’s #BlackVisionaries program open on June 28th and you can apply Here.





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