The Local Initiatives Support Corporation (LISC) announced that the Entrepreneurs of Color Fund (EOCF) has surpassed its $500 million goal in small business lending, more than two years ahead of schedule. With this achievement, LISC is doubling its ambition, setting a new benchmark of $1 billion in financing to support underserved businesses and communities across the US. Expanding Access to Capital for Minority Entrepreneurs The EOCF addresses capital gaps faced by minority-owned businesses, which often struggle to secure funding. Black and Latino entrepreneurs, in particular, are denied loans at twice
The NAACP has announced the launch of NAACP Capital, a new fund of funds aimed at empowering fund managers and startups focused on closing gaps facing communities of color. Developed in collaboration with Kapor Capital, Kapor Center, and nine venture fund managers, the fund seeks to raise $200 million to reshape the innovation and investment landscape. Driving Impact Through Inclusive Investing The initiative is part of the #KeepAdvancing campaign, a modernized approach to civic engagement aimed at building a more inclusive economy. “Investment is the backbone of impact, and impact
Microsoft is struggling to retain its diverse workforce, with increasing numbers of women, Black, and Latine employees departing the company. According to Microsoft’s latest diversity and inclusion report, female employees accounted for 32.7% of all exits globally in the fiscal year ending June 30, 2024, up from 31% the previous year. In the US, Black and Latine employees also saw significant increases in departures, with Black employees making up 10% of exits (up from 8.7%) and Latinx employees comprising 9.8% of exits (up from 8%). Poaching and Business Shifts Cited
Two of the most influential Black business leaders in the US are calling on companies to rethink scaling back their diversity, equity, and inclusion (DEI) efforts, according to CNN. Ken Frazier, who served as CEO of Merck from 2011 to 2021, was the first Black CEO of a major pharmaceutical company. Ken Chenault, CEO of American Express from 2001 to 2018, was only the third Black CEO of a Fortune 500 company. The leaders warned that reducing DEI efforts could limit opportunities for future generations of leaders facing racial and
Black Girl Vitamins (BGV) has announced a $100,000 scholarship fund dedicated to Black women pursuing medical careers at Historically Black Colleges and Universities (HBCUs). This two-year initiative, part of their broader mission to support health equity, aims to increase representation in healthcare by easing the financial burden for aspiring medical professionals. Investing in Future Healthcare Leaders BGV’s scholarship program aligns with their mission to create a new generation of Black women in medicine, nursing, pharmacy, and public health. The scholarship is open to Black women enrolled in accredited medical programs
Target has introduced ÜNOS by Sz, a new line of sneakers that expands to fit growing feet. The expandable sneakers are the brainchild of Dr. D’Wayne Edwards, a footwear designer and president of Pensole Lewis College, a design-focused HBCU in Detroit. Edwards has over 30 years of experience designing for top brands like Nike, L.A. Gear, and icons like Tupac and Michael Jordan, Notorious B.I.G., Snoop Dogg, and Nas. A Unique Approach to Affordable Footwear ÜNOS by Sz, which stands for “U Need One Size,” offers more than 15 styles
Klean Energy Kulture (KEK), an Atlanta-based nonprofit dedicated to driving clean energy adoption in Black and Brown communities, has launched its inaugural program, “Electrify the City.” This initiative aims to fast-track the integration of renewable energy in disinvested neighborhoods. It focuses on transforming cultural landmarks like salons, churches, entertainment venues, and community centers into sustainable energy hubs. Powering Cultural Spaces and Communities Through “Electrify the City,” KEK will partner with businesses, residents, and cultural leaders to install solar panels and electric vehicle (EV) charging stations in high-traffic community venues. The
An undercover investigation has exposed a secretive international network promoting discredited “race science” ideologies, with financial backing from US tech entrepreneur Andrew Conru, The Guardian reports. Known as the Human Diversity Foundation (HDF), the group has operated for two years, disseminating ideas on genetic superiority through podcasts, videos, and online publications. The anti-racism organization Hope Not Hate initiated the investigation, revealing that Conru, a millionaire behind popular dating sites, had donated over $1 million to the group. Following inquiries, he withdrew his support, citing a deviation from HDF’s original mission
The Hollywood Reporter’s “Creator A-List: The 50 Most Influential Influencers” highlights digital stars reshaping entertainment through innovation and influence. Black creators on the list are leading the way, proving their value through cultural impact and trendsetting content. Here’s a look at the Black influencers making their mark on this year’s list. Kai Cenat (@kaicenat) At just 22, Kai Cenat is a force to be reckoned with on Twitch, where his comedic content and live streams have garnered a massive following. Notable for featuring rappers like Lil Baby, 21 Savage, and
Registered non-profit organization Darkies in Tech has launched a new website designed to drive inclusion by providing a centralized platform for professionals of color within the South African tech industry. Founded by Ntsako Mgiba in February 2021, Darkies in Tech has become the largest vetted community of its kind in South Africa, with over 450 members, including founders, investors, and ecosystem builders. The community has consistently hosted educational and social events aimed at creating a more inclusive environment for Black professionals in tech. Addressing Exclusion in South Africa’s Tech Scene
