Startup Noir NOLA is setting a new standard for empowering Black entrepreneurs and investors in New Orleans. This initiative, launched by Greater New Orleans Inc. (GNO Inc.), provides resources and opportunities to support the success of Black-led startups in a region brimming with potential. With access to networking events, educational sessions, and strategic mentorship, the program aims to address the systemic barriers that often hinder access to capital and connections. Closing the Funding Gap Despite the growth of venture capital, Black founders continue to receive only a fraction of total
Recent data from Crunchbase reveals that there has been a disproportionate decline in venture funding for Black-founded startups in the United States. A Fall Below The $1B Threshold Last year, these startups secured only $705 million in funding, marking the first time since 2016 that the figure fell below the $1 billion threshold. This sharp decline of 71% in funding to Black-founded companies starkly contrasts with the 37% decrease in overall U.S. startup funding, highlighting a widening gap in investment allocation. This drop signifies a declining share of Black-founded startups
