Venture capital (VC) investments in Latin America have reached unprecedented levels, outpacing several emerging US tech hubs, according to Revelo. This shift is driven by a growing talent pool and an increasing demand for services catering to the middle class. Revelo’s analysis, using data from the Latin American Venture Capital Association (LAVCA) and the National Venture Capital Association (NVCA), highlights how Latin America is becoming a significant player in the global VC landscape. Growth In Latin American VC Investments The Latin American venture capital market hit its second-highest level on
Avenue Capital Group, managed by Marc Lasry and Sonia Gardner, is raising $1.5 billion for their sports investment fund with support from star athletes. Launched in October 2023, this fund aims to finance sports leagues and teams across North America and Europe and eventually extend to Africa, Asia, South America, and Australia. With support from high-profile athletes such as Michael Strahan, Candace Parker, and Stephen Curry, the fund has already garnered significant attention and initial investment. Star Athletes Bolster Avenue Capital’s Ambitious Fundraising Curry, Lauren Holiday, Harry Kane, Parker, Strahan,
The US National Science Foundation (NSF) has announced an investment to enhance diversity and inclusion within the artificial intelligence (AI) research community. The NSF has allocated $10 million in grants to seven innovative projects in collaboration with the Departments of Homeland Security, Agriculture, Defense, and the National Institute of Standards and Technology. These initiatives aim to strengthen AI research and education at minority-serving institutions (MSIs), including historically Black colleges and universities (HBCUs). A Diverse AI Research Community The new round of ExpandAI awards is a strategic move to cultivate a
Television producer and writer Shonda Rhimes has become the newest part owner of the Los Angeles Golf Club (LAGC). The club is the inaugural team in the tech-driven TGL league, co-founded by golf legend Tiger Woods and Rory McIlroy. “I’m beyond excited to announce my involvement as the newest owner of Los Angeles Golf Club, the inaugural team in the @tglgolf league. I can’t wait to bring my passion for golf to this incredible venture,” Rhimes shared on Instagram. “Joining this team is an honor and, as someone who believes
NASA has awarded $1.2 million to 23 minority-serving institutions (MSIs), including Spelman College, Fayetteville State University, Hampton University, and New Mexico Institute of Mining and Technology. This funding aims to enhance their science, technology, engineering, and mathematics (STEM), research and technology capabilities while contributing to NASA’s missions. Advancing STEM at Minority-Serving Institutions The awards are part of NASA’s Minority University Research and Education Project (MUREP) Partnership Learning Annual Notification (MPLAN) initiative. Each selected institution will receive up to $50,000 over six months, allowing them to work directly on STEM projects
SOJO, a Deliveroo-style clothing repair and alterations collection and delivery app, has announced a new partnership with a major UK retailer The Black woman-owned platform will power Marks and Spencer’s (M&S) new clothing repairs and alterations service. Making clothing repairs mainstream Founder Josephine Philips was driven by a belief in a slower and more considered approach to society’s relationship with fashion, leading her to start SOJO in 2021. The collaboration with M&S aims to make clothing repairs more accessible and mainstream, aligning with both companies’ commitments to sustainability. The partnership
Addressing Black economic inequality could unlock $1 trillion in annual economic growth in the US, according to a study by the Black Economic Alliance (BEA) Foundation. The research, titled “Architecture for Action,” highlights the potential for economic revitalization through targeted interventions aimed at closing the economic gaps faced by Black Americans. The Roots of Economic Disparity The BEA Foundation’s study arrives amid a wave of skepticism and retrenchment regarding diversity initiatives. Despite the cultural backlash, leaders like JPMorgan Chase CEO Jamie Dimon and tech investor Marcelo Claure advocate for sustained
The city of Detroit has agreed to pay $300,000 to Robert Williams, a Black man wrongly arrested for shoplifting due to flawed facial recognition technology. As part of the settlement, the city will also make changes to how police use facial recognition software when making arrests. A Case of Mistaken Identity Robert Williams’ wrongful arrest stems from a misidentification by facial recognition software. According to The Guardian, the software incorrectly matched Williams’ driver’s license photo to a suspect seen in a 2018 security video from a Shinola watch store. Despite
Workplace diversity, equity, and inclusion (DEI) initiatives faced a significant setback after the US Supreme Court’s ruling on affirmative action in college admissions in 2023. However, experts now report that employers’ interest in DEI programs is now resurging, according to Law360. The Initial Impact of the Supreme Court’s Ruling The conservative-majority Supreme Court declared race-conscious admissions policies at Harvard University and the University of North Carolina unconstitutional. Though the ruling targeted higher education, its effects quickly spread to the corporate world. Legal threats led many employers to pull back on
Meta, the parent company of Facebook and Instagram, has launched an update enabling content creators in Nigeria and Ghana to monetize their content on its platforms. This new policy, which became effective June 27, 2024, marks an important change. Previously, Facebook excluded creators with Nigerian and Ghanaian addresses from monetization unless their page was managed from an eligible country. Expansion of Monetization Opportunities This policy shift follows an announcement by Meta’s President of Global Affairs, Nick Clegg, in March 2024, confirming the rollout of monetization features in June. “Monetization won’t
