An up-to-date guide to the Fearless Strivers Grant, its status, eligibility criteria, what was required in past cycles, legal context, and what to do as of 2025.
What is the Fearless Strivers Grant?
The Fearless Strivers Grant was a contest run by Fearless Fund (a venture capital / philanthropic organization focused on women of color entrepreneurs) in partnership with Mastercard. The grant was intended to help small businesses owned by Black women in the U.S. grow by providing cash awards, mentorship, and digital tools. Past cycles awarded grants of around $10,000 to $20,000 to select winners.
The program was known for requiring that businesses be majority owned by Black women, be revenue-generating, and meet certain minimum operating or revenue thresholds. It was an entry contest with repeated windows.
Legal Status and 2025 Outlook
In 2023-2024, the Fearless Strivers Grant Contest became the subject of a lawsuit. The American Alliance for Equal Rights (AAER) challenged the program, arguing that by limiting eligibility to only Black women, the program violated Section 1981 of the U.S. Civil Rights Act of 1866 (which prohibits racial discrimination in the making of contracts). The case resulted in a legal ruling that the program was likely in violation of that statute.
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As a consequence, Fearless Fund agreed to shut down the Strivers Grant program entirely in September 2024 as part of a settlement. Thus, as of 2025, the Fearless Strivers Grant is no longer active in its former form.
Because of that, there is no current announced application form or deadline for 2025 for this specific grant. Anyone interested should monitor Fearless Fund’s website and announcements for any new or restructured programs that may replace or inherit parts of the Strivers Grant.
Past Requirements and Eligibility Criteria (for Reference)
To understand what the Fearless Strivers Grant required in past years (which may inform similar programs in the future), here are what the eligibility and application form required when it was active:
- Business must be at least 51% owned by a Black woman.
- Be a U.S. small business operating under U.S. law.
- Be generating revenue; while exact minimum revenue varied, preference was given to businesses with annual revenue in tens of thousands of dollars.
- Have a registered business name, valid tax status, business permitted to operate under local jurisdiction.
- Submit proof of ownership, identity, and required business documents with the application form.
- Use of funds or business plan showing how the grant would be used to grow business, scale operations, or improve digital presence.
- Must comply with the contest’s entry rules (one entry per business, etc.).
Application Form (How It Worked)
The application form in past cycles included a set of sections. While the grant is currently inactive, understanding this structure helps you prepare, especially if new or similar opportunities become available:
- Business Information: legal name, address, year established, owner’s identity, contact info, number of employees.
- Ownership: confirmation that business is Black woman owned (percentage ownership).
- Financials: recent revenue, profit/loss, existing online presence if applicable, and proof of revenue.
- Description of business model: what you sell or provide, your growth plans, how you will use the grant.
- Supporting Documents Upload: business registration, identity of owner, bank statements or financial records, tax documentation, etc.
- Agreement to terms and conditions: disclosures, any publicity release, liability waivers etc.
How to Stay Alert for Replacement Grants or Similar Opportunities
Since the original program has shut down, entrepreneurs who might have qualified or been interested in the Fearless Strivers Grant should take steps to catch any future comparable programs:
- Monitor the official Fearless Fund website (fearless.fund) for new grant announcements or updated eligibility. 18
- Follow credible business-grant databases and newsletters (e.g. FundsforNGOs, TechCrunch, etc.) that track global grant contests.
- Sign up for alerts with organizations that support Women of Color entrepreneurs; they often become aware of new grant or loan programs early. Fearless Fund itself often partners with corporate sponsors. 20
- Keep your business documents, revenue records, online presence, and proof of ownership ready; many contests require these same items. Preparing in advance puts you at an advantage if a new cycle opens.
Concluding Thoughts
The Fearless Strivers Grant was a respected program that provided meaningful support to Black women-led small businesses. However, after the lawsuits and associated legal rulings, the program has been formally ended as of late 2024. There is currently no active application form or deadline for 2025 for this grant. Businesses interested in similar funding should treat past requirements as a benchmark to prepare themselves for future grants.
If a similar grant returns (or if Fearless Fund launches a new contest under a different name or legal structure), being ready — with strong documentation, good revenue reports, clear business plans, and proof of ownership — will increase your chances greatly. Always check official sources like Fearless Fund’s site for current status.
