Re:Generate Fund
January 13, 2023 / Share:
What is the Re:Generate Fund?
Re:Generate, in partnership with Nashville Entrepreneur Center, provides non-dilutive grants to Black and LatinX founders participating in the Twende program. This fund aims to fill the critical early funding gap for founders of color, with the ultimate goal of creating bigger and more successful Black and LatinX owned companies.
What problem is it intended to solve?
Today, Black and Latinx Americans in the South are pursuing entrepreneurship at historic rates. Access to capital is a critical component of starting and scaling a business, but structural disparities in wealth and income put these founders on an uneven footing with their non-minority peers.
Challenges:
- Black and LatinX business owners who pursue debt capital to grow their businesses are denied loans at higher rates
- Higher interest rates on loans and for smaller amounts than peer firms
- Less than 2% of all venture funding goes to founders of color
How is the money raised?
A private philanthropist and CEO of Instruction Partners leads the raise for the Re:Generate fund.
How is grant funding determined?
Applicants for this fund are vetted by a selection committee that is external to the Nashville Entrepreneur Center, comprised of members of Nashville’s minority-business community, including entrepreneurs, bankers, professors and subject matter experts.
Re:Generate’s Governing Board is comprised of community members who oversee the grant disbursal process. Nashville Entrepreneur Center staff has a seat on the Governing Board to act as a go-between between both entities, but are not voting members.
How are the recipients determined?
The selection criteria for recipients of the Fund include:
- Revenue growth
- Program engagement
- Team growth
- Plan to use the funds
- Program impact