Female entrepreneurs of color remain among the most disadvantaged in raising capital, despite growing efforts to support diversity in entrepreneurship, according to The Funding Divide report. Persistent Challenges in Fundraising The report, published by DocSend and Dropbox, found that racially diverse, all-female startup founding teams spent the longest time raising capital. In 2023, they spent an average of 25 weeks fundraising in 2023, a 67% increase from 2022. Despite this extended effort, they secured an average of only $460,000, the lowest amount among all demographic groups. In contrast, racially diverse,
Black women continue to face an uphill battle in their pursuit of leadership roles within American organizations, study by the National Library of Medicine has found. Despite efforts in diversity and inclusion, race and gender biases persist, hindering their progress and creating a cycle of unachieved aspirations. Struggles facing Black women leaders For Black women, the intersection of race and gender biases leads to “intersectional invisibility” where their contributions are often overlooked. This forces them to take greater career risks to advance. An analysis of leadership rhetoric data spanning 200
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
VC firm Fearless Fund has faced another setback in its plans to issue grants to Black women business owners as the court has ruled against them. On Monday, an appeals court for the 11th Circuit ruled against Fearless, upholding a preliminary injunction against their Strivers Grant program. The court ruling said that the grant likely violates the Civil Rights Act of 1886, which bans the use of race in contracts. What Has Happened So Far? The American Alliance for Equal Rights (AAER), founded by Edward Blum, attacked the Fearless Fund
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
Dr. Heliana Ramirez, a researcher of racial and LGBTQ related workplace trauma, created the Black Women Toxic Job Survivor Suicide Prevention Resource Guide following the tragic death of Dr. Antoinette Candia-Bailey following workplace bullying. Ramirez spoke with POCIT about Candia-Bailey’s life and legacy, creating the guide, and strategies for Black women experiencing workplace bullying. Remembering Dr. Candia-Bailey Candia-Bailey experienced severe workplace abuse from her supervisor when she worked as Vice President of Student Affairs at Lincoln University Oakland, leading to her suicide in January 2024. Concerned about Candia-Bailey’s anxiety and
Break Through Tech AI, the largest program of its kind in the U.S., aims to support college students from underrepresented backgrounds into top tech careers. Specifically, the program helps underrepresented groups, including lower-income, Latina and Black women and nonbinary students, gain the skills they need to get jobs in data science, machine learning, and artificial intelligence. Expanding Access to Elite Tech Opportunities Hosted and supported by institutions such as MIT, UCLA, and Cornell Tech, Break Through Tech AI is free and focuses on students from public institutions and historically Black colleges.
Terri Burns, 26, the youngest partner in GV’s history and its first Black female partner, is launching her firm, Type Capital, according to Fortune. Breaking the Heat Cycle During her time at GV, formerly Google Ventures, Burns witnessed a recurrent issue within VC funding strategies: the reliance on “heat” from other investors before committing to a deal. “A lot of investors are driven by heat, versus being driven by true innovation,” she told Fortune. “[Founders are] talking to amazing investors, they’re getting some interest, but no one’s really willing to take the leap
Cincinnati woman Azizah Nubia created Cincy Black Travel Guide to connect visitors with cultural events and Black businesses in the area. After attending Black Tech Week during its run in the Tri-State area, Nubia noticed other people of color weren’t familiar with Cincinnati’s Black community’s annual events and activities. This sparked her idea to create a platform in July 2023, to make it easier for travellers to find and enjoy what Black people had to offer in the city. Cincy’s Black Travel Guide Cincy’s Black Travel Guide is a digital tool accessed via the website or
Digital health startup Acclinate has partnered with Quilt.AI to enhance its Black maternal health initiatives through AI and cultural understanding. Increasing Culturally Competent Healthcare Professionals Black women in the U.S. are three times more likely to die from a pregnancy-related cause than white women. Acclinate is a digital health startup focused on improving health equity through technology and community engagement, particularly within communities of color. Thanks to Acclinate’s NOWINCLUDED community platform, significant strides have been made in understanding the healthcare needs of Black mothers over the past year. Data from the Mommy Listening
