PricewaterhouseCoopers (PwC), a major player in the accounting industry, has recently revised its diversity and inclusion initiatives in response to legal and social pressures in the United States. With a workforce of 46,000 in the U.S., PwC’s adaptations signal a significant shift in corporate diversity strategies. The firm has altered its approach following a Supreme Court ruling against race-conscious university admissions, which has wider implications for employment practices. This change has led PwC to eliminate race-based criteria in its student internship program and professional accounting exam preparation scholarships. These initiatives
Venture capital (VC) funding for Black entrepreneurs in the US has been decreasing since a peak following George Floyd’s murder in 2020. In 2023, Black founders in the US got only 0.48% of all venture dollars, about $661 million out of $136 billion, TechCrunch reports. This is the lowest in recent years. Peak funding in 2021 In 2020, Black founders received 0.6% of venture funding. By the first half of 2021, funding to Black entrepreneurs in the US reached nearly $1.8 billion, a fourfold increase compared to the same time
BlackRock Inc. has agreed to purchase Global Infrastructure Partners (GIP), which Adebayo “Bayo” Ogunlesi co-founded, for around $12.5 billion. BlackRock Inc. Purchases GIP GIP is a leading global independent infrastructure fund manager. They target infrastructure businesses and assets in the energy, transportation, digital, water, and waste sectors, where they believe their expertise and relationships provide a competitive advantage. It was founded in 2006 and has grown to be one of the world’s largest infrastructure investors, managing $100 billion in assets on behalf of its global investor base. Along the almost 20-year history
The risk of maternal death from 2019 to 2021 was statistically significantly almost four times higher among women from Black ethnic minority backgrounds compared with white women. Black women are generally at a greater risk of maternal mortality compared to white women, with many reporting negative experiences before, during, and after pregnancy. We have compiled a list of Black and woman of color-owned apps or platforms that benefit these women during and after pregnancy. Villie – Kimberly Jolasun Villie is on a mission to support expecting and new moms through
Investment firm Compass Diversified has acquired a majority stake in Beatrice Dixon’s plant-derived feminine care brand, The Honey Pot Company. The Honey Pot Co. was founded in 2012, offering products across the feminine hygiene, menstrual, consumer health, and sexual wellness categories. It can be found in more than 33,000 stores across the US, including Target, Walmart, CVS, and Walgreens, with annual sales estimated to be around $120 million. The Honey Pot Co.’s distinct approach to product formulation, using plant-derived ingredients and clinically tested formulas, has fostered a loyal and diverse customer base over the years.
Black women have always been, and continue to be, at the forefront of tech, driving innovation, raising capital, and challenging inequity. This year, the tech world continues to shift and evolve rapidly. For those wanting to stay ahead of the curve and make their mark in this dynamic world, here are three must-read books by Black women leaders. Your First Million – Arlan Hamilton Arlan Hamilton is the founder and managing partner of Backstage Capital, which has raised more than $10 million while investing in over 100 companies led by people of
Karat’s Brillant Black Minds has welcomed new partners to its program, joining investors such as Serena Williams, levelling the playing field for Black software engineers. Brillant Black Minds Brilliant Black Minds was co-founded in 2021 and launched as a solution for Black engineers lacking access and resources to excel in the tech industry. The Brillant Black Minds program aims to bridge this gap through mentorship, networking opportunities, and more. The program recently received investment from tennis champion Serena Williams to help aspiring Black engineers enter the tech industry and change the narrative. “We’re focused on
Music artist will.i.am and Mercedes-Benz have launched MBUX Sound Drive – a new technology linking drivers’ music to how they drive. Connecting motion and melody Mercedes announced its latest state-of-the-art technology, which uses software that allows music to react to how the car is being driven, creating a relationship between the motion and the melody. MBUX Sound Drive interprets various driving dynamics – such as recuperation, acceleration, steering, and braking – and converts them into musical expressions. The new venture will launch this summer in Mercedes-Benz’s electric EQ models, will.i.am
In today’s tumultuous tech world, internships and co-op programs are essential for Black and Brown students eager to make their mark. We’ve handpicked some of the internships and co-ops you should apply for on POCIT! But first, some FAQs: Why do an internship or co-op? Internships and co-ops are more than just resume-fillers. They’re about hands-on learning in a professional environment. You can team up with full-time professionals who mentor you on actual projects. Enjoy office resources, attend talks and social events, and dive into work that excites you. Link up
California Launches Groundbreaking Ebony Alert System To Address Disparities In Missing Black Youths
The Ebony Alert system, created to identify missing Black youths, has launched in California, with other states to follow. Governor Gavin Newsom signed SB 673 – Senator Steven Bradford’s “Ebony Alert” legislation – in September 2023. The law makes California the first state to create an alert notification system addressing the crisis of missing Black children. The technology behind broadcast and mobile alerts has been around for decades, but it’s largely failed to address a minority of the population that the signs are intended to help. “It came about by
