Miami’s only Black Tech Hub, The Source, has announced the launch of a regional startup competition that will set the winner on track to win a $1 million investment. The tech center was founded by music executive Ted Lucas and venture capitalist Hilmon Sorey, an organization committed to supporting underserved founders as they expand their startups. The Source focuses on local entrepreneurs who plan to keep their business in South Florida as a means of maintaining talent in the area and building a long-term tech ecosystem, as stated by Miami
Actress Marsai Martin and her Marsai’s Way Foundation are teaming up with the nonprofit Seeds of Fortune Inc. to empower 10,000 young women through financial education and wealth-building initiatives over the next three years, according to a press release. The partnership will be launched at the Seed Forum: Women of Color Creating Wealth Summit, an event designed to address the racial and gender wealth gap by providing young women with opportunities to meet industry leaders who will empower them to become financial leaders. “Our partnership with Marsai’s Way Foundation allows us to scale
Nigerian startup Salpha Energy has raised $1.3 million in funding from All On, an impact investment firm supported by Shell. Salpha Energy is the only female-founded startup that runs a solar home system assembly facility in sub-Saharan Africa, according to Distrupt Africa. The company is dedicated to providing affordable and reliable solar power to underserved communities across Africa. Having local manufacturing capacity enables the company to manage product quality and design more effectively, while also generating employment opportunities in the area. $1.3 million funding from All On The fund will be
Renowned producer Timbaland has launched his own AI entertainment company, Stage Zero, with its first artist, TaTa. The company was co-founded with his creative partner, Zayd Portillo, and film producer Rocky Mudaliar, according to Rolling Stone. Timbaland will handle most of the production for this new artificial intelligence venture, calling the new genre “A-Pop.” “I’m not just producing tracks anymore,” Timbaland said in a statement. “I’m producing systems, stories, and stars from scratch. [TaTa] is not an avatar. She is not a character. TaTa is a living, learning, autonomous music
Black women who work in startups are more likely to become founders later on, a new study has revealed, highlighting a potential key path to increasing their representation in the startup world. Black women are already leading the way in entrepreneurship. A LendingTree study found that Black-owned businesses are more likely to be led by women, and 55.2% generate between $100,000 and $999,999 in annual revenue, slightly higher than the 54.7% for all Black-owned businesses. Although the number of Black-female founders in the US is increasing, they still make up
Buy From A Black Woman is expanding with the launch of Buy From A Black Business. The platform will now showcase all Black-owned businesses, allowing those in the community and beyond to support Black entrepreneurs. “Black businesses aren’t lacking talent or dedication; they’re lacking infrastructure and the kind of long-term support that helps entrepreneurs create generational wealth,” Nikki Porcher, founder of Buy From A Black Woman and Buy From A Black Business, said in a press release. BFABW expanding into a new platform As large corporations and brands continue to
Slutty Vegan founder and CEO Pinky Cole Hayes has appointed Lauren Maillian as president of the plant-based burger chain; Maillian joined the company on June 4, according to Black Enterprise. With over 20 years of experience in the tech, food, and beverage sectors, Maillian sees this appointment as one of alignment: “This is also very personal for me… very synergistic with the life that I lead and allowing me to show up as Lauren Maillian wholly and fully in every part of my personal and professional life.” Cole shared that this will be the first
Fortune has been ranking the 500 largest US companies by revenue and the 2,000-plus CEOs who have led them since 1955. Although the number of Black CEOs on the list has increased, only 28 of the chief executives on the list have been Black, according to Fortune. Nine Black CEOs made the 2025 Fortune 500 list, with only two of them being Black women. Altogether, the nine companies they lead made up $244.76 billion in revenue for fiscal year 2024. Who are the nine Black CEOs that lead the Fortune
The Trump administration is looking to issue a contract worth up to $25 million to DNA-test families targeted for deportation by US Immigration and Customs Enforcement, as stated by Bloomberg. Campaigners are concerned that these tests could be used to separate children from their caregivers, such as non-biological family members like godparents. Additionally, advocates worry that there’s a broader plan by the administration to collect genetic data at US borders for other purposes, like criminal investigations. $25 million contract to DNA test families In mid-May, the agency issued a contract
Workday will face a collective-action lawsuit alleging that its AI-powered hiring tools discriminate against workers age 40 and older. The lawsuit was filed in February 2023 by Derek Mobley, a Black, disabled man in his 40s, who claims that he applied for over 100 jobs without securing a role, as stated by ITPro. The Independent reported that another plaintiff, Jill Hughes, said that she received automated rejections for hundreds of job applications “often received within a few hours of applying or at odd times outside of business hours,” as stated by
