The Mercedes-AMG PETRONAS Formula One (F1) team, fronted by seven-time world champion Lewis Hamilton, is expanding its Accelerate 25 program. The mentorship program launched in 2020 in partnership with the Association for Black and Minority Ethnic Engineers (AFBE-UK) and other organizations and is preparing to welcome its second cohort of students. Accelerate 25 Accelerate 25 is a five-year program that marked the formalization of Mercedes’ vision to become a more diverse and inclusive team. To begin the new Accelerate 25 program, they aimed to raise their entry standards and, until
The 2023 Diversity in Tech Report found that 59% of businesses surveyed are struggling to retain their diverse tech talent. According to the report, as levels of income inequality reach new highs, the tech sector’s diversity dilemma puts it under added pressure to discover new ways of introducing more Gen Z professionals. Wiley Edge, an emerging talent and reskill training partner for public and private organizations across the globe, shared the results of their 2023 Diversity in Tech Report. The company conducted a detailed survey of senior IT decision-makers and
The MIT 35 Innovators Under 35 is a yearly opportunity to look at where technology is, where it’s going, and who’s taking it there. With more than 500 people nominated annually, the editors pick the most promising to reach the next round. Then, each candidate’s work is evaluated by a panel of expert judges. This year, many people of color are featured in the list of 35. Here, we’ve listed some of the Black innovators that made the MIT 2023 Under 35 List. Daniel Omeiza 31-year-old Omeiza is working to
This Hispanic Heritage Month we are spotlighting the Hispanic and Latine people shaping the tech world. What is Hispanic Heritage Month? National Hispanic Heritage Month is from September 15 to October 15, and it celebrates the histories, cultures and contributions of American citizens whose ancestors came from Spain, Mexico, the Caribbean and Central and South America. The celebration started in 1968 as Hispanic Heritage Week under President Lyndon Johnson and was extended to 30 days in 1988. It was enacted into law on August 17, 1988, on the approval of
Black 10-year-old Ava Simmons has partnered with retailers across the US and Canada to launch her Team Genius Squad STEM toy line. Team Genius Squad Team Genius Squad is a movement and an aspiring brand created by 10-year-old Ava, also known as the STEM Princess. Their mission is to promote Science, Technology, Engineering and Math (STEM) awareness, encouraging individuals to believe in themselves, to identify their uniqueness, and to pursue their goals. They design STEM-inspired products such as Experiment Lab Kits, Jewelry, Lip Gloss, Puzzles and Apparel whilst developing fun
Business owners of color seeking Small Business Administration (SBA) loans can no longer say their race is a disadvantage without a three-page letter to back it up. According to the Insider, applicants must complete a “social disadvantage narrative” to receive funding through the SBA’s 8(a) Business Development program. SBA’s 8 (a) Program The 8(a) Business Development program is a robust nine-year program created to help firms owned and controlled by socially and economically disadvantaged individuals. Businesses participating in the program receive training and technical assistance designed to strengthen their ability
TIME chose the 100 Most Influential People in Artificial Intelligence for the TIME100/AI, featuring several people of color. TIMES’ most knowledgeable editors and reporters spent months fielding recommendations from dozens of sources to assemble hundreds of nominations they whittled down. “We wanted to highlight the industry leaders at the forefront of the AI boom, individuals outside these companies who are grappling with profound ethical questions around the uses of AI, and the innovators around the world who are trying to use AI to address social challenges,” said executive editor Naina
Amazon Catalytic Capital, launched in 2022, has announced four new venture capital funds, bringing its total portfolio to eight. Amazon Catalytic Capital Amazon Catalytic Capital was launched as a $150 million commitment focused on investing in Black, Latine, Indigenous, women and LGBTQIA+ builders in tech. Specifically, the initiative provides capital to funds, venture studios, accelerators, or incubators that back startups led by underrepresented founders. Recipients also receive 1:1 mentorship from Amazon executives and unique business opportunities for partnerships, technical support, and scaling resources. Amazon Catalytic Capital has announced its investment
California is working on passing SB 54, the nation’s first legislation to increase diversity in venture capital. In California, venture capital investments do not reflect the state’s diversity, according to the bill. It states that companies founded or co-founded by women receive far less investment funds than companies founded by men. Additionally, companies founded or co-founded by people of color receive far fewer investment funds than companies founded or co-founded by white people. Black founders have long faced challenges securing funding for their businesses, with VC funding dropping by 36%
Black-owned ed-tech company Nomadd Group has launched Project CASPER, an accelerated program implementing Science, Technology, Engineering and Mathematics (STEM) programs in underrepresented schools and communities. Nomadd Group Nomadd is a community development and STEM-accredited EdTech company that provides programs and services to uplift disinvested communities. Founded by Kevin Horton, Nomadd’s vision is to create economic mobility for communities that lack access to information, technology and resources. It focuses on re-skilling workers, developing the workforce, and promoting entrepreneurship while reforming the education system. They aim to help implement STEM programs to
