There are now more women of color than men named Dave or David sitting on corporate boards, according to a recent report by social impact venture Him For Her and Crunchbase. Him For Her teamed up with Crunchbase for a fourth year to assess the gender diversity of over 600 high-growth private companies, representing nearly $200 billion in funding. WOC vs Daves Of the 4,610 board seats included in the study, 1 in 5 (20%) are held by men of color and 1 in 25 (4%) by women of color.
This article was first published by Laila-Josefin Azhar on Medium. Have you ever felt like you don’t belong in your workplace? Like your ideas aren’t heard, your contributions aren’t valued, and your authentic self isn’t welcome? Unfortunately, this is a common experience for many people, especially those from underrepresented communities. I’ve set the theme of belonging for our quarterly topic in my region. I believe that creating a culture of belonging is crucial for building inclusive workplaces that attract and retain diverse talent. When people feel like they belong, they’re
US-based non-profit organization Geekz Ventures has announced the 10 Black and Latine-led startups selected for its inaugural pre-accelerator program. The 10-week virtual program welcomes startup founders in any industry, but the focus is on Media, Connectivity, Entertainment, and Mobile Technology. The program, which kicks off in March 2023, offers Black and Latine founders business training, community, and coaching to refine their startup ideas and attract their first paying customers. Participants receive an equity-free grant and follow-up funding opportunities. World-class mentors The program offers access to world-class mentors and coaches, including
Companies that report workforce demographic data outperform those that don’t, according to a new analysis by JUST Capital. JUST Capital found that Russell 1000 companies that publicly disclose data on the gender, race, and ethnicity of their workforce by job category more than tripled between 2021 and 2022, increasing from 11% to 34%. Moreover, companies that disclose such demographic data outperform those that don’t by 7.9%. Diversity is good for business A 2015 McKinsey study previously showed that the country’s most racially diverse companies were 35% more likely to have financial returns above their
For Black and Latino entrepreneurs, there’s only one direction to go — forward. This is the message driving Square‘s small business accelerator program for Black and Latino entrepreneurs, FORWARD. The accelerator, launched in partnership with Social Change Fund United (SCFU), 1863 Ventures, and American Express, aims to provide Black and Latino entrepreneurs with the education, mentorship, coaching, and capital needed for their businesses to thrive. Black and Latino Americans are the fastest-growing group of entrepreneurs. In 2022, Black and Latino Americans filed more than 5 million new business applications, more than any other group.
Silicon Valley Bank’s (SVB) collapse has reignited debates about whether the US government is doing enough to regulate financial institutions – but another debate is brewing. Here’s an excerpt from a Wall Street Journal opinion piece published on March 12: “Was there regulatory failure? Perhaps. SVB was regulated like a bank but looked more like a money-market fund. Then there’s this: In its proxy statement, SVB notes that besides 91% of their board being independent and 45% women they also have “1 Black,” “1 LGBTQ+” and “2 Veterans.” I’m not
After days of turmoil, Silicon Valley Bank (SVB) customers are now able to access their money held in the bank. What happened to SVB? It took just 24 hours for US tech’s favorite bank to fall from grace. SVB served nearly half of US VC-backed tech startups and investors, according to the FT. But interest rates rose, bond values shrank, and with the tech industry slowdown, deposit withdrawals rose too. In a crude oversimplification: companies and investors pulled their money out of SVB amid economic uncertainty. To meet depositor demands for
According to a new survey from Shopify, Black businesses contribute significantly to the company, yet they still struggle to get funding. The barriers Black-owned businesses face Black-owned businesses face many barriers that limit their growth, including a need for more access to capital funding and investments. Not only does this make it harder for them to succeed, but it also limits their growth potential. Despite racial and social justice movements catalyzing public support for Black businesses over recent years, minority founders have been left with unfulfilled promises of investments from banks,
Miiriya has been flooded with messages of support after the online marketplace for Black-owned businesses announced its upcoming closure. The brainchild of Lamine Loco, Miiriya is a platform connecting Black-owned businesses with consumers – kind of like an Etsy or Amazon for Black businesses. The name comes from Loco’s native language, Bambara/Dioula, and means “thoughts” or “ideas.” Committed to the circulation of the Black dollar, Miiriya lets vendors sign up without transaction or listing fees. They also pay credit card and PayPal fees out of pocket, so vendors receive 100% of
According to Her Agenda, for the first time in Fortune’s 68-year history, women are leading more than 10% of Fortune 500 companies. A historical moment for women in business The report shows that this milestone was reached after five new women began their roles as CEOs of Fortune 500 companies – pushing the percentage balance to 10%. “Women as CEOs isn’t an oddity anymore,” said Jane Stevenson, global leader for the CEO succession practice at Korn Ferry. “It’s not the majority, but it’s not an oddity. So, 10% makes it more
