Uncap has launched Unconventional Capital, a new €30 million (USD 33.4 million) fund to provide early-stage African small and medium-sized enterprises (SMEs) with alternative financing. Backed by major institutions like the Bill & Melinda Gates Foundation and the Bayer Foundation, the fund will focus on high-impact sectors such as agriculture, climate resilience, and financial inclusion, driving economic development across Africa. A New Approach to Financing Based in Munich and Nairobi, Uncap has been working to close the capital gap for African businesses since 2019, using a remote, data-driven approach. The
While TikTok fights a potential US ban in court, Snapchat is seizing the opportunity to attract creators. Here’s what Snap’s feature announcements and new partnership with Issa Rae’s company, Ensemble, could mean for creators from underrepresented backgrounds. Snap Partners With Issa Rae Snap has ramped up efforts to make Snapchat the go-to platform for creators. During its NewFronts presentation in May, Snap announced a collaboration with Issa Rae’s new company, Ensemble. This partnership aims to expand Snap’s 523 Program, which provides creators from underrepresented backgrounds with $10,000 per month, 1:1
The United Negro College Fund (UNCF) has announced the launch of HBCUv®, a digital learning platform designed specifically for historically Black colleges and universities (HBCUs). The announcement came during the UNITE 2024 Summit for Black Higher Education, with six HBCUs signing on as founding members. A Platform Built by HBCUs for HBCUs HBCUv aims to provide a seamless digital experience that mirrors the supportive and culturally rich environment of HBCU campuses. The platform is the result of over 3,000 hours of research involving students, faculty, and staff and combines online
Workers of color made up 40.1% of the high tech workforce in 2022, comprising a share similar to the total US workforce, according to a new report from the US Equal Employment Opportunity Commission (EEOC). However, Black and Hispanic workers remain significantly underrepresented in the high tech workforce and sector, especially in senior roles, depsite growing numbers. The high tech workforce The high tech workforce refers to workers in 56 science, technology, engineering, and mathematics (STEM) occupations regardless of industry, for example, an engineer working at a nonprofit. Black high tech
Y Combinator-backed startup DryMerge has raised $2.2 million in seed funding to bring automation to non-technical users through plain English chat. Expanding Automation Beyond Programmers Founded just a year ago, DryMerge initially focused on using AI to automate API integrations for developers. Now, the company aims to simplify repetitive tasks for users without coding experience. DryMerge allows users to automate workflows via plain English chat, bypassing the complexities of traditional no-code tools like Zapier or Make, which are still primarily used by people with coding experience. “We’re making the process
As companies scale back flexible work environments and encourage a return to the office, Black workers are facing a significant decline in workplace wellbeing. According to new research from Johns Hopkins Carey Business School, the post-pandemic shift is hitting Black employees especially hard, worsening existing disparities in the workplace. Return to office hits Black workers hardest Carey surveyed more than 1.5 million individuals at over 2,500 organizations in the US in partnership with Great Place To Work. They found that workplace wellbeing peaked in 2020 when many companies embraced more supportive and
URAWarrior, a mental wellness platform founded by executive coach and TV personality Bershan Shaw, has launched a new mental wellness app designed to help users manage stress, anxiety, and mental health challenges. The app, released on National Suicide Prevention Day, is part of a partnership with the restaurant chain Founding Farmers. A New mental wellness app Bershan Shaw, a two-time cancer survivor known for her appearances on The Real Housewives of New York City, created URAWarrior as a safe space for individuals dealing with mental health struggles. The app offers
The Hispanic Association on Corporate Responsibility (HACR) and a powerful coalition of allied organizations are set to walk over 240 miles from Capitol Hill to Wall Street to push for greater diversity, equity, and inclusion (DEI) in Corporate America. The “Walk to Wall Street” initiative will begin on September 17, 2024, and culminate in New York City’s financial district on October 11. Call for Corporate Diversity The march, led by HACR President and CEO Cid Wilson, aims to highlight ongoing disparities in representation and inclusion in US businesses. Despite some
A new Black Business Hub has opened in South Madison, Wisconsin. Spearheaded by the Urban League of Greater Madison, the $25.5 million facility aims to provide resources and space for Black-owned businesses and entrepreneurs to thrive. A Hub for Business Growth and Community The Black Business Hub, located on South Park Street, held its ribbon-cutting ceremony on August 24, 2024. marking the completion of a project that began more than two years ago. The facility features four floors of retail, office, coworking spaces, and a commercial kitchen. Madison 365 reports
ImpactTulsa has secured a $3.6 million investment from StriveTogether, a national initiative focused on youth development, to place 15,000 more Tulsa youth on a path toward economic success by 2030. Empowering Tusla’s Youth ImpactTulsa was one of six organizations selected to receive this investment, which aims to support 4 million young people by 2030. A member of the StriveTogether Cradle to Career Network, ImpactTulsa is focused on bridging opportunity gaps, helping students pursue higher education, and facilitating lasting economic mobility. Their youth initiatives include student financial resources, a youth council empowering
