Startup founders often turn to friends and family for their first bit of funding but for many Black founders, that’s not an option. The “friends and family” round is when people who personally know the founders of a company pitch in money, either as a loan or in exchange for a small ownership stake but for those who may not have many family members or members with little capital – they can’t even ask them. According to the Federal Reserve, the median net worth of Black households in the US is $24,100,
Athlete and activist Colin Kaepernick and his partner’s Canadian businessman Jim Nikopoulos and activist Akim Aliu have made a seed investment in Naomi Osaka’s KINLÒ brand with Kaepernick joining the brand’s board of directors. Osaka has also brought on a new brand President, Mia Meachem, who joins KINLÒ with over 20 years of brand marketing experience with roles across notable beauty brands including Drunk Elephant – a part of the Shiseido organization, The Estee Lauder Companies, and Burt’s Bees. In her new role as President, Meachem will help to drive
The Cultural Custodian recently celebrated dozens of African women leading the way when it comes to NFTs and Web3. Hence, we thought to jump on the wave and shout out the women of color worldwide who are also pioneering in this space. It’s important to celebrate women every day and not just on International Women’s Day. Deborah Ojengbede is the first name that comes to mind. Deborah amasses a following of 16.6K on social media and is the CEO of Afen Blockchain Group. The ‘group’ is an NFT project dedicated
Ahead of international women’s day – Instagram announced that it will be introducing a special tag for professional accounts and influencers that ensures they receive credit for their content. The enhanced tagging feature lets Instagram users show additional information on “People Tags” on their posts. Beyond just a profile’s username, the tags will highlight the creators’ self-designated profile category (titles are chosen from Instagram’s list of categories, like “rapper” or “fashion stylist” or “photographer”) as well as their account’s full name or title. The information is shown when users tap
What are the best Slack communities for Black tech professionals? With so many out there, it’s hard to decide which ones are right for you. So We’ve compiled a list that you should check out. Below is a list of 17 thriving hubs of discussion, collaboration, and innovation spanning virtually all technical specialisms. As a tech journalist getting involved in these Slack communities has helped me learn a lot in a short space of time. Cleveland Tech The Slack community for North East Ohio’s diverse tech community. Developers, designers and tech people of
Raising venture capital is a daunting experience for Black women as both the UK and US startup ecosystems fail Black entrepreneurs with innovative ideas. Furthermore, it’s clear that an entrepreneur’s ethnicity can affect their access to VC in the UK, with Black founders receiving just 0.24% and Black female founders receiving 0.02% of the total venture capital invested over the past 10 years. And before 2021, only 93 Black female founders in the US had raised $1 million or more in venture capital, according to ProjectDiane, a biennial report on the
Born in Los Angeles, Nwandu grew up in a foster home after her mother was killed by her father in a tragic episode of domestic violence. Fast forward to 2014, which by all accounts, looked like it was the year that Angelica Nwandu’s adult life was in a downward spiral. She failed her LSAT and GMAT exams because she couldn’t afford test-prep classes while all her friends were graduating. But her life turned around years after and now she owns one of the largest media brands on social media –
Just 1% of venture capital raised goes to Black entrepreneurs. Fifth Star wants to change that. It’s writing checks at the earliest stages of a startup’s life — the “friends and family” round — providing investments between $25,000 and $50,000 for each startup. It has so far raised just under $1 million, with plans ultimately to deploy $5 million to Chicago’s Black founders. Launched in February 2021, Fifth Star Funds has created a unique venture capital fund specifically dedicated to backing Black founders in Chicago. Fifth Star Funds aims to foster a more
Morgan Stanley’s recent panel discussion to mark Black History Month—featuring three alumni from our in-house accelerator for women and multicultural entrepreneurs—explored issues of access to funding, the Black wealth gap, and other challenges unique to Black founders. The conversation, entitled “A Founder’s Journey: Lessons in Resilience, Vision and Innovation,” moderated by Executive Director LaToya Wilson – included Tiffanie K. Stanard, founder, and CEO of Stimulus, a relationship intelligence SaaS platform that uses data and analytics to simplify how companies make purchasing decisions. B.J. Wiley Williams, founder and CEO of SoHookd, a wellness
Jade Kearney, who experienced postpartum depression herself, developed an app to help solve this particular problem. Although the journey as a Black female founder hasn’t been easy – she’s keeping hope. Kearney’s mental wellness journey began soon after giving birth to her daughter as she experienced postpartum depression and anxiety, and had difficulty finding a community and culturally competent resources to turn to. The birth of her daughter made her realize the neglect Black mothers face when it comes to their mental well-being. But the mother had to teach herself
