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Startup

The Migrant Accelerator (TMA), a Germany-based, early-stage startup accelerator for founders with a migration background, including Black, Indigenous, and people of color (BIPOC), has just announced its first cohort of 10 startups. TMA aims to create a softer landing and sense of belonging for BIPOC founders who encounter discrimination on a structural and individual basis.  “Migrant founders in Germany are overlooked and underfunded,” said Laila Zohaib, Stuttgart-based startup coach and investor relations manager.  “Since the 1960s, migrant led-businesses have served as the backbone of the local German economy and are

Governor Kathy Hochul has announced a $30 million pre-seed and seed matching fund program to help early-stage startup companies. The funding for the program will come from the State Small Business Credit Initiative to provide extra support to small businesses owned by historically marginalized individuals, including Black and brown entrepreneurs and traditionally disadvantaged individuals. The initiative, part of New York’s $500 million federal investment, aims to help small businesses recover from the pandemic and rebuild local economies. As a part of the program, Governor Hochul will offer early-stage startup companies

Black-owned AI entertainment company tap. is on a mission to change the entertainment business for good.  The pre-seed funding round  The funding round aims to enhance tap.’s products by introducing more efficient ways for people to come together and connect.  In collaboration with productions such as Marvel DC, HBO, and Disney, tap.’s primary goal is to deploy the right machine-learning technology to enhance users’ experiences.  “We are excited to grow out network of support around the tap. app through the latest funding round, which will enable us to execute our strategic company

Accelerator program 1000 Black Voices is committed to breaking down the barriers many Black tech founders face.  As a part of this mission, 1000 Black Voices gave thirteen Black-owned startups from its accelerator program the opportunity to participate in New York’s Trade Mission. What is the Trade Mission?  The Trade Mission aims to tackle the issues Black and brown founders face in the industry by providing founders with a step-by-step process for scaling and accessing capital.  The trade mission, which ran from December 5 -7, took place in partnership with

The African tech ecosystem has taken a significant hit in Q3 2022 due to a lack of funding from investors. In 2021, fintech startups successfully raised $2 billion in funding and once dominated the African startup funding space, but the significant increase signifies a problematic time for African startups – so why is that?   Several factors have contributed to the slowdown, from the economic downturn which has forced many investors to deploy less capital to the decline in venture capital funding for crypto startups together this has caused global fintech

In a recent Twitter thread, Brandon Bryant, partner at the early-stage investment firm, Harlem Capital, broke down the steps every startup should know about VC fund returns. Venture capitalists (VCs) buy a stake in a founder’s idea, investing in their company’s balance sheet and infrastructure, before exiting. What VCs are aiming for are sufficient returns at an acceptable level of risk. This is because they, too, have investors whose money they need to multiply. Why should founders care about this? Bryant explains that by running the math, founders can understand

Black-owned finance company Novae LLC has officially launched a new digital tool to help small businesses find grants and tax incentives to help them grow at a faster rate.  What is Novae Grants?  The new tool launched by Novae LLC, called Novae Grants, allows thousands of users to search through a database filled with finance assistance opportunities from both the private sector and the government.  According to the Novae team, the grants in the database range from $500 to $5 million. They have specifically been designed to help underrepresented Black

Invesco QQQ’s startup pitch competition is back; this time, it’s even bigger than before. The competition has returned for its second year in partnership with MaC Venture Capital and Concrete Rose Capital.  Invesco’s QQQ Legacy Startup Pitch Competition Invesco QQQ, an exchange-traded investment firm based near Chicago, first launched the Legacy Classic startup pitch competition last year. Initially, the competition was only open to Black founders from HBCUs. However, according to AfroTech, the 2023 competition is open to all Black-founded seed-stage companies with less than $3 million. Since the news was announced,

Black entrepreneur Luke Cooper is redefining the meaning of success. In a recent interview, the Baltimore entrepreneur opened up about his rollercoaster journey into the tech industry, which unexpectedly saw him generate tremendous success.  Who is Luke Cooper?  Luke Cooper, a partner at Preface Ventures and founder of Latimer, describes himself as an ‘intentional entrepreneur.’ Cooper has a proven track record of growing sales and closing multiple $50 million exists while supporting women and BIPOC founders.    The Baltimore entrepreneur is also a father of two with a deep passion for making the world a

A new Chicago Business Bulletin report has revealed that not enough has been done to support Black and Latinx startups.  Compared to other top startup ecosystems, Chicago has higher share capital deals. Additionally, Chicago leads significant startup ecosystems in the share of venture capital funding garnered by underrepresented founders.  Since 2019, 5.1% of Black and Latino-founded companies have participated in a venture capital deal, compared to 2.5% nationally.  “This report is intended to raise awareness of the strategic movement underway in Chicago to drive greater, more equitable investment by and among VCs

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