Ask a startup what they can do with $5,000. You’ll be shocked to hear the impact and impressed by how far an early stage founder can stretch a dollar. That’s why Venture Asheville is thrilled to announce the new Asheville Impact Micro-Grant program, a radically democratized, community-sourced grant program that will fast-track early stage startups with $5k micro-grants.
“This micro-grant can be the difference between an early stage startup thriving or flatlining,” said Jeff Kaplan, Director of Venture Asheville and Director of Entrepreneurship at the Asheville Area Chamber of Commerce.
“There is a critical need for funding at early stages. Angel groups rarely entertain early stage companies—there’s too much risk. Crowdfunding is a good option, but you’ve got to be far enough along to have not just a prototype but a product. So generally those in the early stage are left with competitions. In Asheville, that means one or two chances to win money per year. And that’s only if a startup manages to earn first place.”
With the goal of bridging this funding gap and getting a more diverse range of startups off the ground, Venture Asheville is leveraging its partnership with the Community Betterment Foundation to pool community donations and return those as grants back to the community.
The most unique element of the grant program is that there is only one level of giving—$200.
“We want to democratize this process and engage more community members to step up and support local startups. Each of us doing a small part has a huge impact,” Kaplan said.
The fundraising campaign kicks off January 22nd and will run until March 1st, 2019. Donations can be made as an individual, business, or both. Visit the Venture Asheville website to make a donation at https://ventureasheville.com/microgrant.
Following the campaign, grant applications will be open from March 1st to March 15th, 2019. Grant winners will be announced during the week of April 8th, 2019.
If you would more information, or have interest in setting up an interview, please contact Jeff Kaplan at jkaplan@ashevillechamber.org or 828-258-6137.
