National non-profit organization Black Economic Alliance Foundation has partnered with Deloitte to promote financial inclusion. What is financial inclusion? Financial inclusion allows people of color access to financial services and systems that will better enhance their economic status. Financial inclusion is the bridge between economic opportunities and the racial wealth gap. The more access underrepresented families have to financial services, the easier it will be to help close the racial wealth gap. Deloitte’s partnership with the Black Economic Alliance Foundation Deloitte has committed $10 million over the next five years
Funding for African startups has hit a new record between January and June. According to reports, the African market is the first to see more than a single digit of growth which was extremely unpredictable considering the slowdown globally. Venture capital deals within the African region reached a striking $3.5 billion in six months, with no other continent coming marginally as close to Africa’s startup funding growth. Of the 300 companies that benefitted from this funding, 27% were led by female founders or had at least one female founder. This is
Soft drink company, Mountain Dew (MTN Dew), has expanded its commitment to Black entrepreneurship by creating a new Esports tournament that will see students compete for a $500,000 prize. Following MTN Dew’s ‘Real Change Opportunity Fund’ initiative in 2020, the soft drink company has joined forces with HBCU Esports League to reinforce their commitment to supporting the next generation of Black entrepreneurs. The tournament, launched last month, will run until October 28 and will be available for any gamers enrolled at an HBCU to register and join. Black representation in gaming The
Two Black business trading groups have teamed up to unveil a new tool to help measure corporations’ support for Black-owned businesses. The National Business League and the National Black Chamber of Commerce, founded in the 1900s, have launched the Black Business Equity and Inclusion Score Card to hold both public and private sectors to account. The score cards aim to hold companies accountable for any past pledges to support Black businesses and underrepresented founders. Black Lives Matter Promises Since the killing of George Floyd in 2020, all eyes have been on the
Content creator Ashley Massengill rose to online fame after sharing her story of how she made $1 million in over less than an hour. In a now-deleted Facebook post, Massengill labeled herself a #MillionaireMentor before expressing her excitement at raising $1 million in just 40 minutes. Rise to fame Massengill’s online business, Digital Course Recipe, is centered around providing others with the necessary skills they need to turn their skills into a passion within 60 days. She also founded AM/PM Credit Repair, launched the AM/PM Academy and authored a financial literacy book
According to the Anti-Defamation League (ADL), Spotify has a white supremacist problem. The music-streaming platform has become an attraction point for racist and discriminatory podcasts that have garnered widespread popularity over recent months. The ADL is a Jewish nonprofit group focusing on civil rights law. In a recent investigation, they found that approximately 40 white supremacist artists are currently on the platform. As a result, the ADL is calling for Spotify to stop the hate speech and harmful content currently circulating on its app. The organization believes they are yet to
Black couple DeMario and Dawn Nicole McIlawin are the creators behind Skilldora. This Black-owned edtech startup is one of the first e-learning platforms to embrace “digitally created humans,” also known as AI instructors. Skilldora has partnered with Israel-based company, D-ID, to accelerate academic learning for the next generation. According to Yahoo Finance, edtech startups have helped boost the educational sector. Online education is now one of the most effective and fastest ways for modern learners to learn seamlessly. Skilldora is on a mission to revolutionize the education system by becoming
IBM has announced the launch of Cybersecurity Leadership Centers across six HBCUs. The move aims to give students and faculty access to IBM training, software, and certifications at no extra cost. Underrepresented students and professors can receive help with coursework, lectures, immersive training experiences, and knowledgeable skills they can always take with them as they grow. According to IBM, the program will be available at 20 HBCUs across 11 states to help co-create Cybersecurity Leadership Centers and create talent opportunities for employers and students combined. “Collaborations between academia and the private
In a historical move, Lakeland Bank has been ordered to pay a $13 million settlement fee to Black and Hispanic residents. According to NJ.com, Lakeland Bank was ordered by the Justice Department to pay Black and Hispanic borrowers back after it was revealed they conducted discriminatory practices to deprive them of purchasing their first home. According to U.S. Attorney Phillip Sellinger, Lakeland Bank accepted almost five times fewer Black and Hispanic applicants than its competitors. “Lakeland avoided serving the credit needs of borrowers in majority Black and Hispanic census tracts in
Black-owned health startup Ubenwa uses artificial intelligence to detect early diseases in babies and their cries. The startup’s learning system analyzes the amplitude of a baby’s cry and uses cutting-edge AI to diagnose infants up to six months old. By analyzing the frequency patterns of a baby’s cry, the AI-powered software picks up on brain and lung conditions in young infants. Communicating with babies Ubenwa was co-founded in 2017 by Charles Onu, Samantha Latremouille, and Innocent Udeogu. The startup combines AI techniques with medical expertise to detect breathing conditions and
