Just in time for this year’s Global Entrepreneurship Week celebrations (November 14 – 20, 2022), the recipients of the Antares REACH Grant Program were announced and four South Florida startups made the list!
Presented in partnership with Hello Alice and the Global Entrepreneurship Network (GEN), Antares Capital will provide small businesses grants to help them grow and scale. This initiative awarded $20,000 grants totaling $1 million to 40 historically underrepresented entrepreneurs including women, people of color, military-affiliated, persons with disabilities, or LGBTQ+.
Antares Capital aspires to increase representation in business by leveraging the organizations” financial resources and leadership skill sets to provide capital and support underrepresented entrepreneurs. The funds will support businesses as they prepare for the next stage of growth.
Mary (Gaede) Rose
“Each grant recipient underscores REACH’s core mission of supporting diverse and historically underrepresented founders and ensuring they have the resources needed to expand their businesses,” said Mary (Gaede) Rose, managing director and head of the REACH program at Antares.
“We are thrilled to support these companies and enhance the flow of capital at a foundational level, expanding diversity in the ecosystem of business on the pathway toward private equity.”
This announcement comes just one year after women-founded companies received less than 2 percent of capital invested in VC-backed startups in the US, and Black-owned startups received just over 1 percent. REACH aims to address this discrepancy by expanding access to capital for these historically underrepresented groups at their earliest foundational stages.
Of the recipients, which were chosen from a pool of over 100,000 applications, 90 percent are businesses led by individuals of color, and 88 percent are led by females or gender non-conforming persons. Companies from over a dozen varied industries led by founders from 4 distinct generations are represented. The founders will use the grants to introduce products, expand their regional presence, and further promote a positive social impact within the communities in which they operate.
The four South Florida startups who made the list are:
- 2ndVault | Fort Lauderdale, FL | Jaclyn Strauss & Nicole Mayer
- Caribshopper | Davie, FL | Kadion Preston
- Rohi’s Readery | West Palm Beach, FL | Pranati (Pranoo) Kumar
- Tappas | Miami, FL | Sandra Portal-Andreu
Jaclyn Strauss
Jaclyn Strauss, a licensed CPA in Florida for over 15 years, was given a second chance at life after experiencing a life-threatening condition while giving birth to her second child. Jaclyn has taken this second chance and allowed it to fuel her passion for helping others through the mission of tech startup 2nd Vault.
“Receiving the REACH grant is instrumental in enhancing our current digital vault by allowing us to further financially invest in our robust technology solution to cater to the business customer that serves hundreds, if not thousands, of clients daily,” said Strauss. “2ndVault could not be more grateful that Antares realized our value and, more importantly, the impact that we will have on the greater community. Thank you to both Antares Reach and Hello Alice. You have provided two female co-founders with a huge spark to continue fueling their passion.”
To qualify, businesses must have a viable product or service with less than $5M in annual revenue and they must be operated by entrepreneurs of historically underrepresented groups. In addition to the $20,000 grant, all recipients will be eligible to receive an additional $5,000 grant after completing a post-grant report demonstrating how the grant has impacted their business.. They will also be given access to professional development opportunities through Hello Alice.