Driving Forces, a deep tech and fintech venture capital fund, is closing down despite its healthy performance. Solo general partner Sidney Scott explained the decision on LinkedIn, citing increasing competition in a crowded investment space as contributing factors. The Rise and Shift in Deep Tech Investment Scott launched Driving Forces five years ago, using his experience at Amazon with robotic fulfillment systems and optimization technologies. His $5 million fund, driven by an interest in hard tech and a commitment to innovation, saw success in the company. The portfolio included investments
Pfizer has urged a US Court of Appeals to uphold a decision to dismiss a lawsuit from an anti-affirmative action group that challenged its diversity fellowship program. The US Court of Appeals for the Second Circuit dismissed Do No Harm’s lawsuit because the group failed to name at least one individual harmed by Pfizer’s program. The lawsuit against Pfizer The case involves Pfizer’s fellowship program aimed at recruiting and training Black, Latine, and Native American leaders. Do No Harm’s lawsuit claims the program violated federal civil rights laws. In March,
The Biden-Harris administration and the U.S. Economic Development Administration (EDA) have granted $51 million to the Tulsa Hub for Equitable and Trustworthy Autonomy (THETA). Led by Tulsa Innovation Labs, the initiative aims to enhance the region’s capabilities in autonomous systems through advanced manufacturing and technology deployment. Tulsa’s Legacy of Innovation Tulsa is one of 12 regions awarded funding from the 31 designated “Tech Hubs” last fall. This federal investment leverages Tulsa’s strong history in aerospace and manufacturing to push U.S. leadership inequitable and trustworthy autonomous systems. The city’s focus areas
AI and satellite imagery are being used to fight spatial apartheid in South Africa, exposing stark inequalities and driving systemic change. According to MIT Technology Review, Raesetje Sefala, a 28-year-old researcher from Limpopo, South Africa, is at the forefront of using AI and satellite imagery to combat spatial apartheid. Growing up in a township, Sefala witnessed firsthand the disparities between Black townships and affluent white neighborhoods. Now, she’s using cutting-edge technology to address these injustices. Unearthing Spatial Inequities In collaboration with computer scientists Nyalleng Moorosi and Timnit Gebru at the
Queens Borough President Donovan Richards recently unveiled a plan to establish a new diversity tech and innovation center in Long Island City, slated to open in early 2025. Empowering Minority-Owned Startups Partnering with Pursuit, a Queens-based non-profit, the Queens Diversity Tech Hub will occupy a 7,000-square-foot space in the Pursuit building at 47-10 Austell Place. This state-of-the-art facility will serve as a launchpad for up to 50 emerging startups, targeting minority-owned businesses seeking seed and Series A funding. The initiative is set to address the funding challenges faced by startups
Black women continue to face an uphill battle in their pursuit of leadership roles within American organizations, study by the National Library of Medicine has found. Despite efforts in diversity and inclusion, race and gender biases persist, hindering their progress and creating a cycle of unachieved aspirations. Struggles facing Black women leaders For Black women, the intersection of race and gender biases leads to “intersectional invisibility” where their contributions are often overlooked. This forces them to take greater career risks to advance. An analysis of leadership rhetoric data spanning 200
Venture capital (VC) investments in Latin America have reached unprecedented levels, outpacing several emerging US tech hubs, according to Revelo. This shift is driven by a growing talent pool and an increasing demand for services catering to the middle class. Revelo’s analysis, using data from the Latin American Venture Capital Association (LAVCA) and the National Venture Capital Association (NVCA), highlights how Latin America is becoming a significant player in the global VC landscape. Growth In Latin American VC Investments The Latin American venture capital market hit its second-highest level on
Avenue Capital Group, managed by Marc Lasry and Sonia Gardner, is raising $1.5 billion for their sports investment fund with support from star athletes. Launched in October 2023, this fund aims to finance sports leagues and teams across North America and Europe and eventually extend to Africa, Asia, South America, and Australia. With support from high-profile athletes such as Michael Strahan, Candace Parker, and Stephen Curry, the fund has already garnered significant attention and initial investment. Star Athletes Bolster Avenue Capital’s Ambitious Fundraising Curry, Lauren Holiday, Harry Kane, Parker, Strahan,
The US National Science Foundation (NSF) has announced an investment to enhance diversity and inclusion within the artificial intelligence (AI) research community. The NSF has allocated $10 million in grants to seven innovative projects in collaboration with the Departments of Homeland Security, Agriculture, Defense, and the National Institute of Standards and Technology. These initiatives aim to strengthen AI research and education at minority-serving institutions (MSIs), including historically Black colleges and universities (HBCUs). A Diverse AI Research Community The new round of ExpandAI awards is a strategic move to cultivate a
Television producer and writer Shonda Rhimes has become the newest part owner of the Los Angeles Golf Club (LAGC). The club is the inaugural team in the tech-driven TGL league, co-founded by golf legend Tiger Woods and Rory McIlroy. “I’m beyond excited to announce my involvement as the newest owner of Los Angeles Golf Club, the inaugural team in the @tglgolf league. I can’t wait to bring my passion for golf to this incredible venture,” Rhimes shared on Instagram. “Joining this team is an honor and, as someone who believes
