Comcast RISE Investment Fund Provides $21 Million in Grants to Support Small Businesses Hardest Hit by the COVID-19 Pandemic

The Investment Fund is an extension of Comcast RISE , the multi-year, multi-faceted initiative launched in October 2020 to support small businesses and provide the resources and tools they need today and in the future.

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Wednesday, September 14, 2022
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Summary
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  • The Investment Fund is an extension of Comcast RISE , the multi-year, multi-faceted initiative launched in October 2020 to support small businesses and provide the resources and tools they need today and in the future.
  • In addition, Comcast RISE invests in ongoing mentorship and resources to help businesses succeed over the long-term.
  • Comcast RISE and the Comcast RISE Investment Fund offer the opportunity for small businesses owned by people of color and women to help grow their businesses, create jobs, and play a vital role in supporting our communities.
  • The Comcast RISE Investment Fund is focused on small businesses that have been in business for three or more years with 1-25 employees.


Today, Comcast announced a new round of cities will receive grants from the Comcast RISE Investment Fund, providing an additional $5 million to hundreds of small businesses owned by people of color, including Black, Indigenous, Hispanic, and Asian American owners, and women, bringing the total to $21 million in grants awarded as part of the Investment Fund initiative.

Beginning on October 3, and through October 16, eligible businesses in Chicago, Miami, Oakland, Seattle, and Washington, D.C. can apply for a $10,000 grant at www.ComcastRISE.com. A total of 100 grants per city, or 500 grants overall, will be announced and awarded in November 2022. The Investment Fund is an extension of Comcast RISE, the multi-year, multi-faceted initiative launched in October 2020 to support small businesses and provide the resources and tools they need today and in the future.

In addition, Comcast RISE invests in ongoing mentorship and resources to help businesses succeed over the long-term. The program has partnered with Ureeka, an online platform for entrepreneurs, to provide grant recipients with business coaching to help build skills in company foundation, growing customers and financial stability. All Comcast RISE recipients will also have a specialized online networking community within Ureeka with access to educational resources, sources of capital, and vetted experts such as U.S. Black Chambers, National Asian Pacific Islander Chamber of Commerce & Entrepreneurship, U.S. Hispanic Chamber of Commerce, Association for Enterprise Opportunity, Walker’s Legacy and Operation Hope.

Comcast RISE Recipients to Date

The Comcast RISE program has awarded thousands of small businesses owned by people of color and women additional grants in the form of a TV campaign, production of a TV commercial or consulting services from Effectv or computer equipment, internet, voice or cybersecurity from Comcast Business, as well as access to coaching from Ureeka. To date, more than 9,500 Comcast RISE awardees have been announced and the program is on track to provide support for 13,000 small businesses by the end of 2022.

“While we know that no single organization can solve historic and systemic inequities overnight, we are committed to taking tangible actions that can drive long-term impact and change,” said Teresa Ward-Maupin, Senior Vice President, Digital and Customer Experience, Comcast Business. “Comcast RISE and the Comcast RISE Investment Fund offer the opportunity for small businesses owned by people of color and women to help grow their businesses, create jobs, and play a vital role in supporting our communities. This new round of Comcast RISE Investment Fund grants will provide more entrepreneurs with the resources and tools they need to scale their businesses and thrive for years to come.”

The Comcast RISE Investment Fund is focused on small businesses that have been in business for three or more years with 1-25 employees. For the current round, businesses must be in the following geographic locations to be eligible in this round: Chicago, IL (Cook County), Miami, FL (Miami-Dade and Broward Counties), Oakland, CA (City of Oakland), Seattle, WA (King and Pierce Counties), Washington, D.C. (Wards 1-8).

Comcast RISE Marketing and Technology Services

In addition to the Investment Fund, Comcast RISE, which stands for “Representation, Investment, Strength and Empowerment,” provides the opportunity for small businesses owned by people of color and women nationwide to apply for grants for one or more of the following support focus areas with the opportunity to receive one.

  • Marketing Services Grant: The following services from Effectv, the advertising sales division of Comcast Cable, and its creative agency, Mnemonic, are designed to help recipients with their marketing and media campaigns, including:
    • Media: A linear TV media campaign to run over a 90-day period.
    • Creative Production: Turnkey :30 TV commercial production, plus a media strategy consultation and 90-day media placement schedule.
    • Consult: Digital audits by Ureeka in the form of Website Repair Reports and SEO Keyword reports to target website mechanics and effective organic marketing
  • Technology Makeover Grants: The state-of-the-art equipment and technology upgrade from Comcast Business includes computer equipment as well as Internet, Voice, and Cybersecurity services for up to a 12-month period. (Taxes and other fees may still apply for technology makeover services.)
  • Monetary Grants: In round one, which was announced in April of 2021, the Comcast RISE Investment Fund provided $5 million in grants to 500 small businesses owned by people of color in five cities: Philadelphia/Chester, Houston, Atlanta, Chicago, and Detroit. In round two, which was announced in September of 2021, the Comcast RISE Investment Fund provided $6 million in grants to 600 small businesses in six cities: Miami, Houston, Oakland, Seattle, the Twin Cities, and Washington, D.C. In round three, the Comcast RISE Investment Fund provided an additional $5 million in grants to 500 small businesses owned by people of color and women in five cities: Atlanta, Detroit, Pittsburgh, Philadelphia, and the Twin Cities. As noted above, in round four, the Comcast RISE Investment Fund will provide $5 million in grants to 500 small businesses in Chicago, Miami, Oakland, Seattle, and Washington, D.C.

All eligible applicants will receive a monthly Comcast RISE newsletter with educational content, and all small business owners can visit the Comcast RISE destination on the X1 platform featuring aggregated small business news, tips, insights, and more. Just say “Comcast RISE” into the X1 voice remote.

Comcast RISE is part of Project UP, the company’s comprehensive initiative to advance digital equity and help build a future of unlimited possibilities.

More information and the applications to apply for either the grant program or marketing and technology services are available at www.ComcastRISE.com.

About Comcast Corporation

Comcast Corporation (Nasdaq: CMCSA) is a global media and technology company that connects people to moments that matter. We are principally focused on connectivity, aggregation, and streaming with 57 million customer relationships across the United States and Europe. We deliver broadband, wireless, and video through our Xfinity, Comcast Business, and Sky brands; create, distribute, and stream leading entertainment, sports, and news through Universal Filmed Entertainment Group, Universal Studio Group, Sky Studios, the NBC and Telemundo broadcast networks, multiple cable networks, Peacock, NBCUniversal News Group, NBC Sports, Sky News, and Sky Sports; and provide memorable experiences at Universal Parks and Resorts in the United States and Asia. Visit www.comcastcorporation.com for more information.

About Comcast Business

Comcast Business offers Ethernet, Internet, Wi-Fi, Voice, TV and Managed Enterprise Solutions to help organizations of all sizes transform their business. Powered by an advanced network, and backed by 24/7 customer support, Comcast Business is one of the largest contributors to the growth of Comcast Cable. Comcast Business is the nation’s largest cable provider to small and mid-size businesses and has emerged as a force in the Enterprise market; recognized over the last two years by leading industry associations as one of the fastest growing providers of Ethernet services. For more information, visit www.business.comcast.com or call 866- 429-3085. Follow on Twitter @ComcastBusiness and on other social media networks at http://business.comcast.com/social.

About Effectv

Effectv, the advertising sales division of Comcast Cable, helps local, regional and national advertisers use the best of digital with the power of TV to grow their business. It provides multi-screen marketing solutions to make advertising campaigns more effective and easier to execute. Headquartered in New York with offices throughout the country, Effectv has a presence in 66 markets with nearly 35 million owned and represented subscribers. For more information, visit www.effectv.com.

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