Recently, small businesses have been dealing with the ongoing impact of the pandemic, social unrest, and environmental events. According to the National Bureau of Economic Research, between February and April 2020, the number of active Black-owned businesses declined by 41%, Latinx-owned businesses declined by 32%, and Asian-owned businesses dropped by 25%, versus just 21% for the general population.
Comcast RISE was created to invest in the success of these critical businesses by providing valuable and practical support. Beginning Nov. 24, the application process for RISE opened to all Black, Indigenous, and People of Color (BIPOC) business owners were open to apply for Comcast RISE.
Support Focus Areas
Selected businesses could receive one or more of the following business services through Effectv, the advertising sales division of Comcast, and Comcast Business, a leading provider of technology for businesses of all sizes:
Consulting Advertising and marketing consultations with local Effectv marketing, research, and creative teams to gain insights on how to grow your business.
Media: A linear TV media schedule, over a 90-day period.
Creative Production: Turnkey production of a 30-second TV commercial, plus a media strategy consultation and 90-day media placement schedule.
Technology Makeover: Computer equipment and internet, voice and cybersecurity services for 12 months, to support business recovery while implementing other Comcast small business initiatives. (Taxes and other fees may still apply for tech makeover services.)
Monetary Grant: Coming in 2021
Eligible businesses must be BIPOC-owned, have been in existence at least one year, and be located in a state served by either Comcast or Effectv. For tech makeover services the company must not have more than 25-full-time or part-time employees and for the consultation, media and creative services, the company must not have more than 100 full or part-time employees.
Applications can be submitted online at comcastrise.com. This is a quarterly based program, with a rolling submission process and recipients are chosen until the quarterly amount allotted is exhausted. Applications are reviewed based on the qualitative and quantitative answers submitted in their application.