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Black-owned tech accelerator Plug In Ventures has secured a new $1 million grant from the California Office of Small Business Advocate (CalOSBA). Plug In is the space for Black and Brown entrepreneurs and VCs to reimagine the innovation economy across the US and beyond. Founded by Derek Smith in 2014, the accelerator investing mentors and expands early-stage entrepreneurs. Since 2019, companies in his firm’s ecosystem have raised over $22 million in VC dollars from climate, sustainability, the creator economy, and athletic apparel. The Funding Plug In Ventures will receive $250,000 annually from CalOSBA over

Tech Nation has revealed the startups selected for the 2024 cohort of their Libra program, which aims to champion underrepresented founders. Based in the UK, Tech Nation is the leading growth platform for tech insights, connections, collaboration, and talent. It empowers ambitious founders and their teams with the access and knowledge they need from their seed stage to their end goal. Over the past decade, Tech Nation has engaged with over 5,000 businesses and accelerated 1,250 through 48 growth programs. The Libra Program Libra is the growth program for underrepresented tech founders

SoftBank is selling its Open Opportunity Fund to its chairman and managing partner, Paul Judge, and Marcelo Claure, who is being appointed the fund’s vice chairman and general partner. The Open Opportunity Fund SoftBank Group is a Japanese multinational investment holding company focusing on investment management. It announced the launch of its second fund under the Opportunity Growth Fund this year, rebranded as the Open Opportunity Fund (OOF). Judge took the reins as chairman of the second fund. Claure, who initially launched OOF, previously served as SoftBank’s COO until 2022

Hispanic and Latine tech workers comprise a small percentage of the workforce,  According to a 2021 Pew Research Center study, only 8% of tech workers are Hispanic or Latine despite making up 18.7%  of the US population. The percentage is even smaller for women, with Hispanic or Latina women only holding 1% of tech roles. We recently rounded up communities and organizations for Latine tech professionals; here’s an updated list of available resources. Resources For Tech Professionals  1. Techqueria Techqueria, a nonprofit founded in 2015, serves tech’s most extensive global

This Hispanic Heritage Month, POCIT spoke with Marcos Navas, the CEO of Latinos in Coding, about his work to empower Latinx communities in tech and make coding more accessible. By 2045, the minorities of the US will make up the majority of the workforce, with the Latinx community playing a pivotal role in this shift.  Despite making up 17% of the workforce, Latinx people currently account for only 8% of workers in STEM. Coding is the language of the modern world, Navas argues, with the COVID-19 pandemic shedding light on

Latine communities start more businesses per capita than any other racial group in the United States. Latine or Hispanic-owned businesses also contribute over $800 billion annually to the nation’s economy. However, they often face challenges accessing the capital, resources, and support needed for the businesses to thrive. For example, in 2022, Latine and Hispanic founders received just 1.5% of venture capital funding, a drop from 2.5% the previous year. So, this Hispanic Heritage Month, we have compiled a list of resources to empower Latine tech founders nationwide! Resources For Tech Founders SoftBank

This Hispanic Heritage Month we are spotlighting the Hispanic and Latine people shaping the tech world. What is Hispanic Heritage Month? National Hispanic Heritage Month is from September 15 to October 15, and it celebrates the histories, cultures and contributions of American citizens whose ancestors came from Spain, Mexico, the Caribbean and Central and South America. The celebration started in 1968 as Hispanic Heritage Week under President Lyndon Johnson and was extended to 30 days in 1988. It was enacted into law on August 17, 1988, on the approval of

Latinx people make up one-fifth (20%) of the US workforce but account for 8% of people working in science, technology, engineering, and mathematics (STEM), according to Pew Research. Data from Built In also revealed that between 2007 and 2020, Latina and Hispanic women made up only 2% of computing-related jobs. Given the underrepresentation of Latinx professionals in tech, here is a roundup of some of the organizations and communities ensuring they have the tools and support needed to thrive in the industry. Supporting Latinx Professionals SHPE (Society of Hispanic Professional

Hack. Diversity’s mission is to shake up the industry, and after receiving a $500,000 grant from The Barr Foundation, they are on the road to achieving this goal. The Barr Foundation’s program expansion According to reports, non-profit organization Hack. Diversity was awarded a two-year $500,000 grant from the Barr Foundation.  The grant is a part of the organization’s initiative to advance racial wealth equity and its partnership with Hack. Diversity is a testament to that.  The grant will allow Hack. Diversity to expand their program impact and remove the hurdles

A new report by DEI consulting firm Grads of Life revealed that Black and Latino employees are less likely to reach significant career milestones despite undergoing the same training as their white peers.  The survey included almost 2,000 workers from Year Up’s workforce development program, which saw many Black and Latino employees admit to not reaching significant career milestones such as promotions and salary increases.  Only 36% of the people surveyed admitted to receiving a promotion in 2021, while 23% reported receiving a raise in their salary. Due to the lack of

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