Female and Latinx-founded fintech company, Mendoza Ventures, has taken a massive step in its move to invest in underrepresented startups. Bank of America’s Investment Mendoza recently achieved a first close on its third $100M fund to further their work to support startups founded by diverse founders. The fund, led by Bank of America (BofA), included Grasshopper Bank alongside multiple other investors. The anchor funding comes from BofA’s commitment to making capital much more accessible to founders often overlooked by investors. “Mendoza Ventures is at the forefront of supporting innovation and
We love to see history being made! Sara Hood, teamed up with Edward Madnogorere and Emmanuel Acho – to form the Houston Hyenas team ownership group in the SimWin sports league, making her the first Black woman to own a digital sports team. Who is Sara Hood? Sara Hood is a venture capitalist and CEO of Sara Belay Inc. Hood can be described as a woman working to create space for Black women in tech, by any means necessary. To date, the tech entrepreneur has sat on the advisory board
The idea of running a business is exciting, but there is no denying that being a startup founder can be an overwhelming experience. From managing finances to staying on top of social media trends, many business owners wear multiple hats to keep their business functioning. According to The Plug’s analysis of Census Bureau data, approximately 10% of businesses that employed less than 20 people were forced to close in 2020. Likewise, statistics have shown that 45% of entrepreneurs have reported feeling stressed, which has led to mental health issues such as anxiety or depression.
Governor Kathy Hochul has announced a $30 million pre-seed and seed matching fund program to help early-stage startup companies. The funding for the program will come from the State Small Business Credit Initiative to provide extra support to small businesses owned by historically marginalized individuals, including Black and brown entrepreneurs and traditionally disadvantaged individuals. The initiative, part of New York’s $500 million federal investment, aims to help small businesses recover from the pandemic and rebuild local economies. As a part of the program, Governor Hochul will offer early-stage startup companies
The Inflation Reduction Act (IRA) is the biggest federal climate deal in history and is great news for Black-owned carbon transformation startup Twelve. According to reports, the IRA contains $500 billion in funding to boost clean energy, reduce healthcare costs, and increase tax revenues. The Act follows negotiations on President Biden’s Build Back Better Act and is welcome news for climate startups like Twelve. “The Inflation Reduction Act, that’s been really amazing. We’re so excited about that,” said Twelve co-founder Ethosa Cave in an interview. “There’s so many provisions in there:
Black-owned startup Suvera has been named one of the world’s most promising digital health companies. The UK-based virtual care platform made CB Insight’s Digital Health 150 – a list of 150 companies transforming healthcare using digital technology. The 150 winners were selected from a pool of over 13,000 companies. What is Suvera? Suvera uses a dedicated remote care team and in-house technology to reduce the workload and waiting times at doctors’ clinics. From tracking blood pressure readings to administering prescriptions, the platform supports people with chronic health conditions like high blood pressure and diabetes.
If you don’t know Nelly Cheboi yet, now is the time to start doing your research. Nelly Cheboi, the founder of Kenyan recycling company, TechLit Africa, has been named CNN’s Hero Of The Year for her revolutionary work across Africa. Who is Nelly Cheboi? Nelly Cheboi, who grew up in a poor rural village in Kenya, redistributes recycled technology to rebuild computer labs in African schools. At a very young age, Cheboi was exposed to the struggles of poverty. Yet, despite having no computer access, Cheboi landed a scholarship to study computer
American cloud-based software company, Braze, has announced that they will be accepting applications to their Founders Program at the start of 2023. What is Braze’s Black Founders Program? Braze’s Black Founders program, which the company first launched in 2020, has made excelling simpler for Black founders. Since launching in 2020, the platform has provided 22 companies free access to its comprehensive customer engagement platform. Fast forward to today, more than 20 Black-owned startups are participating in the program and have greatly benefited from the platform’s technology. To build on the success of
Indianapolis-born actor Mike Epps has announced new plans to open an entertainment venue in downtown Detroit featuring Black-owned spirit and wine brands. The instability of our economy has forced many people to look for new innovative ways to increase their income and help others. As a result, celebrity entrepreneurship is rising, and comedian Mike Epps’ latest business venture exemplifies that. One Mike Detroit is a multi-faceted entertainment venue designed to celebrate the people of Detroit. According to Detroit News, the site will host live music, stand-up comedy, spoken word, and a VR experience. The
Debbie Dickinson and her daughter Markea Dickinson are the dynamic duo behind the new AI-driven wristband and app, Thermaband, which uses technology to help menopausal women manage hot flashes. What is Thermaband Zone? Founded in 2019 by Debbie Dickinson and her daughter Markea Dickinson-Frasier in Miami, Florida, Thermaband aims to revolutionize women’s health, especially for those undergoing the menopause. After facing her challenges with menopause, Debbie Dickinson grew frustrated by the lack of cooling relief solutions for hot flashes. Refusing to accept thermal discomfort as a new way of life,
