Two Black founders have teamed together to create Dreamward Ventures, a new Seattle-based fund that plans to invest in diverse founders, including early-stage startups led by Black entrepreneurs. Dreamward Ventures Dreamward Ventures offers early-stage capital, technical due diligence, and network connections to founders who need them most. According to GeekWire, founders Evan Poncelet and Jesse Posey met at a Seattle Angel Conference event and decided to address the gaps in venture capital for Black founders and investors. “It’s hard for the venture capitalists and angel groups to reach out to founders of color, specifically Black
In its fourth grant cycle, the Commemoration Fund has selected 32 grantees funds ranging from $5,000 to $100,000 to help mitigate racial inequalities. The Commemoration Fund, founded in 2020, supports efforts to correct social, political and economic injustices that impact Black, Indigenous, Latinx, and people of color in the community. Their funds address disparities rooted in white supremacy and systemic racism with sustainable, collaborative solutions. “The Commemoration Fund is uniquely situated to stimulate the transformative work necessary to address race-based inequities,” said Hannibal B. Johnson, board chair. “Through our strategic investments,
Acclinate, a Birmingham, Alabama-based healthcare technology company, has completed a $7 million Series A funding round. The funding round, led by Cencora Ventures and supported by Labcorp and Latimer Ventures, aimed to enhance Acclinate’s efforts to promote health equity and transform the inclusivity of clinical trials. Transforming Clinical Trials through Trust and Technology Acclinate’s strategy aims to build trust and foster long-term relationships with diverse communities. Their digital platform, NOWINCLUDED, is designed to educate and engage underrepresented groups in clinical trials, ensuring their inclusion in medical research. The platform serves as an educational tool while
Actor, writer, and comedian Issa Rae is launching a new company, Ensemble, to connect brands with diverse creators. Ensemble Connecting Brands With Diverse Creators Ensemble is a next-generation branded entertainment company bringing production and distribution infrastructure to a diverse group of creators. The company collaborates with brands, platforms, and publishers to produce and distribute content that shapes culture while engaging audiences. Their primary mission is to make the creator economy more equitable for underrepresented creators, as research has previously found that Black creators, on average, made 35% less than white creators. Ensemble is funded
Operation HOPE And Small Business Adminstration Renews Partnership To Empower Minority Entrepreneurs
Operation HOPE, a national nonprofit focused on entrepreneurship and financial literacy, has renewed its Strategic Alliance Memorandum (SAM) with the US Small Business Administration (SBA). The collaboration aims to uplift small businesses nationwide, with an emphasis on minority-owned enterprises. Expanding Access to Essential Resources During a recent visit to Operation HOPE’s headquarters, SBA Administrator Isabel Casillas Guzman and other officials met with the leadership of Operation HOPE. They discussed strategies to extend resources to entrepreneurs, particularly those in underserved communities. Under the renewed agreement, both organizations will enhance access to
A national program, The Hidden Genius Project, teaches technology and entrepreneurship to young Black men in Chicago and around the US. The Hidden Genius Project The project was founded in 2012 by five Black male entrepreneurs and technologists who had noticed the high unemployment of Black male youth and the large number of careers in tech. To address the challenge, they created a program to connect young Black males with the skills, mentors and experiences needed to become high-performing entrepreneurs and technologists. “The hidden genius project trains and mentors Black male youth in
Large U.S. employers are 9.5% more likely to contact candidates with names that suggested they were white than those presumed to be Black, a new study has revealed. Uncovering Systematic Bias In a study by leading economists Evan Rose, Patrick Kline and Christopher Walters, approximately 80,000 fabricated résumés were sent out 10,000 jobs at 97 of the largest companies in the U.S. The experiment explored racial and gender biases by alternating names on résumés to imply different ethnicities and genders—such as Latisha or Amy (suggesting Black or white women) and Lamar or
PROPEL has announced the establishment of the PROPEL HBCU Cybersecurity Consortium (HCC), in partnership with Southern Company, Led by Dr Lisa Herring, the former superintendent of Atlanta Public Schools, PROPEL is a first-of-its-kind innovation hub for Historically Black Colleges and Universities (HBCUs). Strengthening Industry-Academia Collaboration PROPEL’s new HCC incorporates four key elements: a resource hub, professional development programs, accelerated learning opportunities, and a workforce pipeline. By providing HBCU students and faculty with access to the latest industry trends, technologies, and real-world projects, the consortium aims to create an educational environment that
Online resources business Hello Alice recently announced its Series C funding round closure despite facing a controversial class-action lawsuit. The lawsuit alleges their partnership with Progressive Insurance to offer grants specifically to Black-owned businesses was racially discriminatory. Hello Alice’s Commitment to Diversity and Inclusion In October 2023, Hello Alice found itself at the center of a legal battle when America First Legal, Mitchell Law PLLC, and Ashbrook Byrne Kresge LLC filed a lawsuit alleging racial discrimination. This was due to the company’s initiative, which provided $25,000 in grants to 10 Black-owned businesses in
MyFiLi is a new AI-powered edtech platform designed to transform how families, schools, and nonprofits engage with financial literacy. The Urgent Need for Financial Literacy Currently, consumer credit card debt in the U.S. has hit an all-time high of $1.79 trillion, and savings account balances average just $4,521. MyFiLi.com addresses this gap by providing tools and knowledge that help users navigate the complex nature of financial management. According to BlackNews, Founder and CEO Joseph Green‘s mission is to empower everyone to develop a healthy relationship with money. “By making financial literacy education accessible,
