ACT House reposted this
According to Crunchbase, 0.3% of U.S. venture capital was allocated to Black entrepreneurs in the first half of 2024. That's why I'm proud to have served as a judge for non-profit Black Ambition's HBCU Demo Day, powered by ACT House. Last Thursday, $300,000 was allocated to 10 innovative startups below – and leader development + connections will follow. Since 2020, Black Ambition has allocated $10 million+ in capital to close the gap. Next month, $1 million will be awarded to a Black or Hispanic founder selected from over 2,000 entrepreneurs. https://lnkd.in/eYfVPt6Q Thanks Pharrell Williams, Felecia Hatcher, Dominick J. Ard'is, Amanda Abernathy, Maria Kim and fellow judges. You've all inspired me to be more ambitious, and do more to address this access to capital crisis. #innovation #ambition #startups
Thank you for shedding light on such a critical issue, Jonté. As a Black founder leading STZY Footwear, I’ve seen firsthand how difficult it is to access the funding and support that so many VCs offer to other startups. Despite having a solid product, market potential, and a clear growth plan, we’re often not even given the opportunity to pitch, let alone secure the necessary capital to scale. It’s frustrating to see how the playing field remains uneven as evidenced by Crunchbase, particularly for Black founders who are trying to disrupt industries and bring innovative ideas to life. The lack of representation and investment in Black-owned businesses is not just a missed opportunity for our companies—it’s a missed opportunity for the entire economy. The conversation around VC funding needs to be intentional with action. More diverse founders deserve the chance to sit at the table instead of having to build their own table, and I appreciate you using your platform to bring attention to this issue. KEEP. PUSHING. FORWARD. #SupportBlackFounders #VC #FundingInequity #Entrepreneurship
Jonté—your leadership and advocacy on this issue is inspiring and humbling. Keep going and reach out if there’s anything I can do to support. #prodeinallwedo
As much of a fan I am of Black/Hispanic folks getting dollars, I wish it wasn't in Hunger Games form.
It's truly inspiring to see initiatives like Black Ambition making such a significant impact. The dedication to supporting Black and Hispanic entrepreneurs is crucial in addressing the disparities in venture capital allocation. Kudos to everyone involved for driving change and empowering the next generation of innovative leaders. Keep up the incredible work!
Such a pleasure to have you on our judging panel! Yall made them sweat 😂
Beyond grateful for these organizations who are closing the funding gap for game-changing founders who deserve to be bet on. Such a great experience!
Well done Jonté
Nice!
CFO of ZenLedger | Army Vet | Ex-Amazon | Nasdaq Top 50 Board Candidate | Investor
4wCredit to Dominic-Madori Davis and Chris Metinko for this analysis: https://news.crunchbase.com/diversity/black-founded-startup-venture-funding-fearless