Technology giant, Cisco, has made a $5 million commitment to the Black Economic Alliance (BEA) to support the next generation of Black entrepreneurs at HBCUs in the Atlanta area. Approximately $3 million will go towards expanding the Center for Black Entrepreneurship‘s (CBE) programming at Spelman and Morehouse Colleges, as well as developing graduate programming at Clark Atlanta University. An additional $1 million will provide high-quality products and services to the three institutions, which will “will help close the racial technology gap.” A further $1 million will be donated to the
Forehead thermometers are widely used in hospitals and care settings around the world. However, the findings from a recent study suggest that these commonly used thermometers are less accurate in detecting fevers in Black patients than white. Researchers found that 23% of fevers in Black patients went undetected when temporal (forehead) thermometers were used compared to when oral (in mouth) thermometers. As temperature readings are used to determine levels of care, inaccurate readings may lead to missed fevers, delayed diagnoses, and increased mortality in Black patients, contributing to further distrust
Are companies sticking to their BLM promises? In the wake of George Floyd’s death, many organizations made public pledges to support the anti-racism movement and end systemic racism by committing to workplace diversity. However, how much progress has been made as we look back? Tech giants Google and IBM have decided to reverse the criteria that ensured a diverse range of students would be nominated for their doctoral fellowship programs. Initially, if a school nominated more than two students for Google’s fellowship, the third and fourth students should come from
Omidyar Network has announced the launch of The Tech We Want program which aims to help build community, infrastructure, and a solid support system for technologists, thought leaders, and investors in the tech space. The four-year, $8 million program primarily focuses on connecting and empowering new leaders and technologies that focus on inclusivity, sustainability, and responsible innovation. “If we want to develop a responsible tech future, we have to intentionally change who and what we produce. We need to support diverse organizations and inclusive communities working to redefine what technology
As the world has become more digitized, more accessible payment systems such as Cash App, PayPal and Venmo have become hugely popular. According to data, Cash App has generated over 40 million monthly active users and over 100 million downloads. Recent research reveals that 59% of Black Americans report using Cash App, compared to 37% of Hispanic Americans and even a smaller percentage of white and Asian Americans. Hackers and scammers The popularity of these payment systems among Black and Hispanic Americans is in spite of concerns about security and
Armed with smartphones and armies of faithful fans, social media sensations such as Khaby Lame are building fortunes by redefining the rules of entertainment, advertising, and stardom. The inaugural Forbes Top Creators list highlights the 50 social superstars leveraging a combined 1.9 billion followers across social networks to earn $570 million in 2021 alone. Their average age is just 31. Next year’s windfall is significantly richer as famous personalities shift from influencers to owners, using their massive reach to start their own ventures—clothing lines, beauty empires, TV series, and fast food chains.
Black-owned asset management firm, Black Pearl Global Investments, is set to make history by becoming the first-ever Black-owned contact lens manufacturer in the world. Black Pearl Global Investments, co-founded in 2019 by CEO Dr. Shante Williams, Dr. Carl Smart, Marlon Joris, and Daniel Smart, is an asset management firm that invests in companies innovating the health space. The platform’s primary focus is helping upcoming businesses operating in North America, Africa, and the Caribbean. The lens maker, Hydrogel Vision Corp (HVC), based in Florida, was acquired by Clerio Vision in 2019. The company is primarily known
Y Combinator’s summer (S22) batch is notably different to its previous ones. Firstly, this batch kicked off with an in-person event – the first since the winter 2020 batch. Secondly, the summer cohort includes 240 companies, significantly fewer than the 414 companies in the winter 2022 cohort. And third, only eight startups in Africa got into the accelerator this summer compared to 24 from the previous batch, representing a 60% reduction. While the region represented about 6% of the entire winter batch, it’s 3% for this batch. When YC went
Capital G, Alphabet’s independent growth fund, has announced that seven Black-owned VC firms will join the Alphabet family as a part of the program’s $100 million commitment to investing in Black founders. According to data, only 4% of the US venture capital workforce and 1.2% of VC-backed founders are Black. The lack of diversity within the venture capital space has a knock-on effect on the number of Black-owned businesses that receive extra funding or investments. After years of leading a large team focused on investing in Black-led VC funds, startups,
The founder of the Black Fashion Fair (BFF), Antoine Gregory, has partnered with HubSpot and NTWRK to create a collection of Black designers for HubSpot’s upcoming event. Since launching in 2020, Gregory’s Black Fashion Fair has created a worldwide community of Black creatives and designers. Not only has the community helped to empower underrepresented founders, but it has also helped drive the success of a vast majority of upcoming designers. “Antoine Gregory’s Black Fashion Fair is a great example of a business that puts its mission at its core –
