A new cohort of small businesses has received a financial boost to power their business with AI.<\/p>\n
The Coramino\u00a0Fund<\/p>\n
Through The Coramino\u00a0Fund,<\/a> the investment arm of Kevin Hart and Juan Domingo Beckmann\u2019s tequila company Gran Coramino, $10,000 grants have been allocated to small business owners over the past three years so they can utilize AI<\/a> training provided by 1st Street Partnerships to improve their operations. The program was launched in partnership with Local Initiatives Support Corp. (LISC) and is part of a $1.5 million commitment to support more than 150 under-resourced entrepreneurs<\/a> across the U.S. and Mexico as they compete with larger companies, according to information provided to AFROTECH\u2122.<\/p>\n \u201cAccording to the U.S. Bureau of Labor Statistics, about 20% of new businesses fail within their first year, and nearly 50% fail by their fifth year. The most successful entrepreneurs \u2014 locally and nationally \u2014 are the ones that have support, whether from their networks, communities, or by leveraging new technologies like AI,\u201d \u00a0LISC President and CEO Michael Pugh told AFROTECH\u2122. \u201cEven incorporating AI for \u2018light\u2019 uses such as drafting emails, scheduling, bookkeeping, or conducting market research can make a meaningful difference by freeing up time and mental bandwidth to focus on growth. As entrepreneurs grow more confident, AI can also help them analyze trends, understand customer behavior, and make data-informed decisions that support growth and revenue.\u201d<\/p>\n Hart shared, \u201cOur vision with The Coramino Fund is to lift up the hard-working entrepreneurs who keep our communities strong. This next group of grantees is a perfect example \u2014 they\u2019re building businesses with purpose and that\u2019s the kind of leadership we want to celebrate and support.\u201d<\/p>\n Recipients among this year\u2019s cohort include Jessica Hunter, founder of Journee\u2019s Roses in Compton, CA. Through the training, she was able to build marketing strategies that may typically take weeks to complete. 1st Street Partnerships CEO Monk Inyang<\/a> said that by Hunter\u2019s second session, she had developed a positive attitude toward advanced AI techniques and had uncovered revenue<\/a> streams she had not seen before.<\/p>\n Daniel Paulsen, grant recipient and founder of 4 Grands Piano in Fairfield, NJ, said the grant \u201ccame right on time.\u201d Paulsen intends to expand to a second location, including a new recording studio that will support the next generation of artists,<\/a> he shared.<\/p>\n In total, there were 50 recipients from The Coramino Fund in 2025, which also includes, but is not limited to:<\/p>\n 7Studios
\nAbout Town
\nBeautiful Amore Skincare
\nFriends and Family Circle of Love
\nHelpMatch
\nMake My Cake
\nMood Board Studios
\nNiema Gallery
\nPretty Little Me Spa
\nShe-Pop Popcorn<\/p>\n