Empowerment of Aspiring and New Business Owners
The Zero to One Entrepreneurial Fellowship Program capitalizes women and non-binary emerging entrepreneurs who have been historically underrepresented and under-resourced, and are looking to build, launch and scale a new business.
Over 12 million businesses in the United States are owned by women. Despite an economic impact of $2.8 trillion annually and the creation of more than 23 million jobs, women-owned businesses receive just 2% of all venture capital funding. Funding decreases to less than 1% for businesses founded by BIPOC (black, indigenous, and people of color) women.
Did you know that of these 12 million women-owned businesses:
- 21% are owned by Black women.
- 18% are owned by Latina women.
- 9% are owned by Asian women.
- 1.4% are owned by Native American women.
In Michigan - where 43% of businesses are owned by women - women of color start businesses at the same rate as their white counterparts, yet early survival rate and average profitability is significantly less. While there are a multitude of local Michigan venture funds and institutions supporting established start-ups, there is a gap in funding and resources for early-stage of preoperational/pre-product start-ups...the exact stage when new businesses need support most.
It is time for change, and the Zero to One Entrepreneurial Fellowship is here to shift the numbers and flip the script.
The Zero to One Entrepreneurial Fellowship empowers and capitalizes women and non-binary emerging entrepreneurs who are looking to build, launch and scale a new business. Through tailored business coaching, mentorship, funding, and community, fellows are given the resources they need to create a clear roadmap to success. The fellowship's educational curriculum is designed to help fellows grow personally and professionally as entrepreneurs, with subject matter experts teaching on topics such as business development, storytelling and pitching a business, marketing and brand awareness, and leadership, team building, and talent management.
This Fellowship is about more than just financial support; it's about creating a supportive community and equipping entrepreneurs with the skills they need to thrive. Each fellow is awarded an annual BasBlue membership, a grant from The BasBlue Foundation, and receives 1:1 mentorship for the duration of the 6-month program.
Nationally, there’s been a 45% decrease in funding for BIPOC business owners and it is now more important than ever that BasBlue serves as a catalyst for our community to receive both the educational and financial resources needed to support their business.
By investing in our community of entrepreneurs, we can help create a more equitable and prosperous future for all.
Program Criteria
In order to be considered, applicants must:
- Have a for-profit product, business or business concept
- Reside in Detroit/Southeast Michigan
- Identifies as woman or nonbinary
- Be over the age of 21 (as of September 21, 2023)
- Be a legal resident of the U.S.
- Be a member of a historically underrepresented and under-resourced community
Application Timeline
- August 23: Applications open (6 weeks)
- September 7th: Info session #1 at BasBlue
- September 14: Info session #2 virtual
- September 21: Applications close
- November 2023: Fellows Announced
- January 2024: Cohort Begins
Apply for the Zero to One Entrepreneurial Fellowship
Frequently Asked Questions
Timeline
Summer 2023 Applications Open
Fall 2023 Selections Made
The Zero to One Fellowship is a six-month commitment!
Absolutely Not! It’s completely free to apply for the fellowship program!
If you:
- Reside in Detroit/Southeast Michigan.
- Are over the age of 21.
- A legal resident of the U.S.
- A member of a historically underrepresented and under-resourced community.
- And Have a for-profit product, business, or business concept.
You qualify for the fellowship!
