Embarking on an entrepreneurial endeavor is an exciting adventure. There are so many ideas, so many grand plans and goals to implement and when you have a plan that’s designed to benefit others- it’s even more rewarding! No matter how…
Embarking on an entrepreneurial endeavor is an exciting adventure. There are so many ideas, so many grand plans and goals to implement and when you have a plan that’s designed to benefit others- it’s even more rewarding! No matter how noble your intentions are, though, there will be start-up expenses associated with bringing your plan to fruition. Realizing these limitations, JP Morgan Chase, as a part of its global responsibility efforts, works with community partners to create pathways to opportunity by supporting workforce development, financial capability, small business development and community development in the regions where they conduct business.
As BlackEnterprise reports, WealthyLife, a tech startup company focused on ending poverty through financial literacy, won a $10,000 grant from the JPMorgan Chase to develop a financial literacy mobile app. The grant was awarded during the financial inclusion innovation competition at the 2016 Color of Wealth Summit held by the Center for Global Policy Solutions (CGPS).
“As an entrepreneurial team of black women, we’ve experienced firsthand the challenges underrepresented communities face when it comes to financial inclusion and access to capital, so we’re thrilled and thankful to CGPS and the JPMorgan Chase,” said Angel Rich who co-founded WealthyLife along with Courtney Keen and Shyaam Sundhar (BlackEnterprise).
With the grant, the WealthyLife team will turn its online app CreditStacker into a mobile app. CreditStacker is described on the company’s site, GetWealthyLife.com , as “an innovative financial play on credit reports. The pieces will look and feel like credit items, accumulating over your life span to impact your credit score and net-worth”. The CreditStacker mobile game will teach players how to manage various types of credit, interpret a credit report, achieve good credit and avoid the risks associated with debt.
CreditStacker will be offered for free in 28 cities as part of ConnectHome, a public-private collaboration to bring affordable broadband access, technical training, digital literacy, and electronic devices to underserved communities. “This grant will help us bring CreditStacker to the people who need it as a mobile app, furthering our mission to provide equal access to financial literacy for everyone,” said Rich (BlackEnterprise). Kudos to the WealthyLife team!