Rev1 makes first $100K grants from new pool for minority-owned tech startups

Three Black-owned Columbus tech startups received $100,000 apiece from Rev1 Ventures’ new Diversity, Equity & Inclusion Grant Fund – essentially stepping in for the “friends and family” backing traditional for founders who have access to generational wealth.

Rev1 takes no equity, and founders have flexibility in how to spend the grants on product development, salaries or other ways to grow the company. Grantees also receive more training and recruiting support from Rev1, such as access to subsidized interns going through another Rev1 program.

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Story excerpt provided by Columbus Business First.

Written by Carrie Ghose.

Originally published September 19, 2022.