Real estate developer Booker Washington, founder of Techie Homes, is set to open Union Park Cottages, a Black-owned micro-home community featuring a technology lab and coffee shop. The project aims to make homeownership more accessible in the area, while also creating community engagement and economic growth. Union Park Cottages will offer smart, smaller homes priced below the current market rates, part of Washington’s broader effort to address the housing affordability issue in metro Atlanta. Community Ownership and Innovation In a unique model, residents of Union Park Cottages will also hold
Every UK Black History Month, we shine a light on Black British-owned businesses making a difference. This year’s standout is Frobelles, a UK-based dress-up game championing the beauty of afro hair. Created by mother-daughter duo Yvonne Ottley and 12-year-old Alyssa Ottley, Frobelles has over 100,000 users and recently made its debut in the US. The Birth of Frobelles The idea for Frobelles was sparked by a simple question from Alyssa, who was just six years old at the time: “Why don’t any of my game characters have Afro hair like mine?” This question
Southwest Michigan has seen the debut of its first Black-owned venture capital firm, Kalamazoo Forward Ventures (KZFV). With a $50 million commitment from limited partners, KZFV aims to empower underrepresented founders, startups, and innovators in Kalamazoo and beyond. The firm, led by a group of seven influential men from Michigan, focuses on bridging gaps for those who have traditionally lacked access to capital. A Mission to Uplift Marginalized Entrepreneurs Kalamazoo Forward Ventures’ founding members are Eric L. Wimbley, CEO of First Line Risk Management; Jamauri A. Bogan, CEO of Bogan
Brandcil, a technology company, has introduced an enterprise-level social media management platform. Launched on June 10, 2024, Brandcil distinguishes itself as one of the few platforms offering comprehensive tools for streamlining social media tasks across various networks. A Game-Changer for Social Media Management The platform enables users to manage multiple social media accounts, schedule posts, and monitor performance, integrating with major platforms like Instagram, Facebook, YouTube, LinkedIn, TikTok, Pinterest, and X (formerly Twitter). This one-stop solution aims to optimize social media strategies for businesses and individuals alike. Brandcil has formed
Nvidia, a global leader in AI, has announced a strategic partnership with California Black Media (CBM) aimed at supporting Black-owned newspapers across California. This collaboration will create a resource that uses AI to preserve nearly a century of journalism by Black journalists in the state. Training AI on a Century of Black Journalism The partnership will see Nvidia train a large language model (LLM) on nearly a century of journalism produced by Black journalists within the state. This effort will not only preserve the rich history of Black journalism but
Seae Ventures has announced the acquisition of Unseen Capital following the death of Unseen Capital’s founder, Kayode Owens, in 2021. The acquisition will use the strengths and missions of both funds to further serve underrepresented entrepreneurs and marginalized communities. Continuing Kayode Owens’ Legacy Owens, an esteemed investor and entrepreneur, founded Unseen Capital in 2020 to support early-stage healthcare companies led by underrepresented founders. Despite successfully raising $30 million, Owens’ death from cancer in August 2021 left a void in the firm’s leadership. Recognizing the importance of Owens’ mission, Eli Lilly,
In St. Louis, GreaterHealth Pharmacy & Wellness is the Black-owned pharmacy addressing the issue of pharmacy deserts, using inspiration from Walgreens and Amazon. Free Delivery and Telehealth Services Dr. Marcus Howard founded GreaterHealth Pharmacy & Wellness, which provides various services, including free delivery of medications, over-the-counter products, and fresh produce. The hybrid model mimics Amazon’s delivery efficiency and Walgreens’ pharmacy services. Additionally, the pharmacy offers telehealth services, such as medication education, health screenings, and coordination with other healthcare providers. This approach ensures that residents receive timely and convenient care from their
University of South Carolina Gamecocks player Raven Johnson has secured a name, image, and likeness (NIL) deal with Black beauty tech company Parfait. Parfait, powered by AI and facial recognition technology, aims to provide custom wig products that address two major issues: AI biases in tech and the fragmented wig-buying process for millions of Black and brown women. Founded by four women, the company has developed an algorithm to change tech interactions with communities of color. Leading New Standards For Female Athletes According to Andscape, Isoken Igbinedion, co-founder and CEO
Uncle Nearest is the fastest-growing American whiskey brand in history, driving a business worth $1.1 billion, according to Forbes and ISWR data. Uncle Nearest Black woman-owned distillery Uncle Nearest Premium Whiskey was launched in 2016 by Fawn Weaver and quickly ascended to global recognition. The company’s rise is a tribute to Nearest Green, the first-known African American master distiller who taught Jack Daniel the secrets of distilling. Expanding its presence to over 30,000 stores, bars, hotels, and restaurants across 12 countries, the business also has a 432-acre distillery in Shelbyville,
A report from The Alliance for Entrepreneurial Equity has found a troubling decline in venture capital and other forms of funding for Black-owned businesses. While the number of Black-owned businesses are growing, they are severely underrepresented compared to their population making up only 2.5% of all businesses. In recent years, Black-owned businesses have faced challenges in securing funding, a trend that blocks their growth and reflects issues within the American financial landscape. The Alliance for Entrepreneurial Equity’s latest report, a collaboration between the National Urban League and Third Way, illuminates
