Three St. Paul Black women entrepreneurs honored with surprise funding, support by national partnership

American Express, partnering with IFundWomen of Color, announced it will be honoring three Minnesota business owners as a part of its “100 for 100” program to provide funding and resources for 100 Black women entrepreneurs.

Each business owner will receive a $25,000 grant and 100 days of resources intended to jump-start and grow their businesses. The national contribution totals $2.5 million.

The 100 days of resources will kick off in January 2021 and include business education, mentorship, marketing, virtual networking and other services, according to a statement from American Express. The company is also partnering with WorkSpaces by Hilton to provide private, work-from-hotel spaces to increase efficiency for the business owners.

The three honorees each own businesses based in St. Paul and include:

  • Jules Porter, founder, Seraph 7 Studios: A video game development company that creates games with diverse heroes and story-lines and provides an advanced, applied STEAM work-study program for local high school students.
  • Alex Steinman, co-founder and CEO, The Coven: A network of physical spaces and digital communities built for women, non-binary and trans people.
  • Jasmine RuKim, co-founder and CEO, Monicat Data: A company that provides data management and technology support for stronger teams so that they can focus less time planning and more time on creating.

This new investment follows a $1 billion contribution American Express made to the Black-owned business community in October to advance diversity, equity, and inclusion.

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