DoorDash created Powerful Main Street accelerator, an initiative providing financial support and specialized educational resources to women, immigrants and people in businesses of color, who have been disproportionately affected by the COVID-19 pandemic.
âThe social and financial inequalities that many businesses experienced prior to the pandemic have only been magnified by the current global pandemic and economic crisis,â DoorDash CEO and Founder Tony Xu said in a press release from the company. “To truly empower and develop local economies, you have to start with the entrepreneur.”
Developed in close collaboration with Accion Opportunity Fund – a nonprofit small business lending and support organization – the Accelerator is an eight-week course in marketing, technology integration, cash flow management and creation of menus. Participants will create a personalized business plan, a compilation of all their completed weekly assignments, to help them implement the newly learned skills directly into their businesses. Participants will also build a strong network of fellow entrepreneurs to further foster a supportive community through connection.
Restaurateurs from New York, Los Angeles, Chicago, Atlanta and Philadelphia can apply, and 100 of them will receive the honor. In addition, DoorDash is also giving $ 2 million in grants to attendees to help them get through the pandemic. The grants will be paid in two installments of $ 10,000, one at the start of the program and one at the end of the program in May.
“Restaurants have been among the industries hardest hit during this pandemic. And, like all industries, those owned by women, immigrants and people of color suffered the most because they had fewer resources to rely on. cut back and fewer connections to access early relief from the federal government, “Luz Urrutia, CEO of Accion Opportunity Fund, said in the statement.” It is clear and unfortunate that the future of the industry has changed forever. If we are to make room for food visionaries from diverse backgrounds to contribute to the future of food, catering, job creation and community building, we must we intentionally focus on these business owners to support their adaptation, creativity and liquidity. “
How to register
Applications are now open to restaurant owners and operators who operate three or fewer restaurants, have been in business for two years or more, and have 50 or fewer employees across all locations. To know all the eligibility criteria and conditions, and to start the application, visit doordashimpact.com/accelerator.
Applications close at 5 p.m. on March 2. Selected applicants will be notified in mid-March and the program will run through April and May via a series of virtual workshops.