Over 50 underrepresented businesses founders benefit from six-figure grant fund

Hatch Enterprise, a charity supporting underrepresented business founders to launch and grow their own businesses, has awarded over £265k in grant funding to 59 UK businesses run by underrepresented founders.

The Hatch Fund, financed by Hatch’s partners including UBS and Pizza Hut, was set up to enable business founders from diverse backgrounds to overcome barriers to growth typically faced by these groups in the startup sector. 

Applications were open to graduates of Hatch’s last round of business support programmes, which target support at women and marginalised genders, disabled people, and those from diverse ethnic backgrounds.

Typically only 1 per cent of UK venture capital goes to businesses with all-female teams, and access to finance is a major reason why ethnic minority entrepreneurs stop working on their business idea. Olivia Peszynski was one of the awardees of the fund, receiving a £1,000 grant for her business, Olivia Michaela Flowers.

She said: “Receiving the grant funding was such amazing news. It is a great confidence boost to know that others see the potential in my sustainable floristry business, which focuses on conscious floral design, grows flowers naturally and hosts wellbeing workshops with flowers for those looking for a reset or connection with nature. 

“As a female, mixed race business owner, it is wonderful to receive this kind of support. I have already put the grant to use, investing in the business branding, website and infrastructure, which has already seen a huge increase in audience reach and engagement. I am very excited for the next year to come."

From floristry businesses all the way to tech for good and community safety initiatives, a wide range of organisations across the UK benefited from the fund with grant amounts of up to £10k.

Emily Curtis, Head of People Operations & Social Purpose, Pizza Hut, commented: "It brings me immense pride to witness the remarkable journey of the New Founder Programme participants as they receive their well-deserved grants. 

“We take great pride in being a catalyst for visionary business leaders, particularly those hailing from underrepresented backgrounds. We wholeheartedly embrace the magic and belief that propels these aspiring entrepreneurs forward. 

Sarah Payne, Head of UBS UK Social Impact and Philanthropy, added: “UBS is proud to partner with Hatch Enterprise to support impactful founders from underrepresented backgrounds to launch and grow organisations that will transform lives and communities.”