Connecticut Gov. Ned Lamont (D) recently announced that $9.8 million in funding will be provided to the Women’s Business Development Council, an organization that works to grow sustainable businesses across the state.
The funding, which will be distributed over a five-year period, is part of a $46.6 million investment by the Connecticut Department of Economic and Community Development. The rest of the funds will go to nine other local nonprofit economic development organizations, according to a press release.
WBDC will use the funds to expand their technical assistance programs for women-owned businesses throughout the state, the press release said.
“WBDC’s Equity Match Grant and Launchpad programs provide capital infusions of $2,500 to $10,000, coupled with expert technical assistance to effectively help women-owned businesses access the financial capital and business acumen they need to launch, scale, and grow thriving enterprises in Connecticut,” the press release said.
Fran Pastore, WBDC’s founder and CEO, said the organization is thrilled to receive the funding.