Founder of $500k Scholarship Fund Supports Black Women Entrepreneurs

Founder of $500k Scholarship Fund Supports Black Women Entrepreneurs

Award-winning entrepreneur Dr. Velma Trayham has launched a $500,000 scholarship fund to support Black women entrepreneurs across the country.

The fund, which is a part of her upcoming Millionaire Mastermind Entrepreneur Accelerator Program this spring, is being offered by means of Dr. Trayham’s Millionaire Mastermind Academy and her company, Thinkzilla Consulting Group.

The accelerator program provides extensive mentoring, business training, and access to funding growth opportunities for minority business owners and has helped more than 7,000 women nationwide gain the education they need to succeed in business. The accelerator program runs from March 8th through June 14th and is available online or in-person in Scottsdale, Arizona.

Scholarship and program applications are now being accepted. The Millionaire Mastermind Academy has previously awarded $60,000 in scholarships and more than $30,000 in seed funding to help women entrepreneurs create successful sustainable business enterprises.

“We are thrilled to support even more women entrepreneurs in furthering their education to grow their businesses,” said Lexi Applequist, program coordinator for the Millionaire Mastermind Academy.

“In our upcoming program, we look forward to bringing together minority women from across the country to take control of their financial futures and make a profound impact on their communities, families, and businesses.”

Today, more than 36 percent of Black-owned businesses are helmed by women — higher than any other racial group — yet only 3 percent are considered “mature” businesses, according to the Harvard Business Review, underscoring the need for additional entrepreneurship training.

The accelerator program for entrepreneurs is a program of the Millionaire Mastermind Academy, which helps women business owners strengthen their businesses and impact the economy while addressing barriers to economic mobility for those who have been systemically and historically underserved.

The 15-week Entrepreneur Accelerator Program is designed for minority women who have an established U.S. small business that is one to three years old and who are looking to take their business to the next level. Modules include choosing the right business model, identifying a target market, choosing the right price, setting up an effective market plan, doing business with government organizations, business funding, and more. It is sponsored by American Landmark, M&T Bank, and Blaylock Van, LLC.

“Support, education, and training can make all the difference in an entrepreneur’s skills and success, and we proud of the college-level training we provide each woman who joins us with the goal of creating a stronger and brighter future,” Trayham said.

“We appreciate both our donors and our wonderful program sponsors who help make this work possible.”

This story first appeared on