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Black Entrepreneur Clout Growing in Silicon Valley

By SaraChicaD - July 8, 2014 No Comments
It's becoming harder to ignore black entrepreneurs, according to a recent article from The Bay Citizen. In an excellent piece, the author describes several movements in Silicon Valley to promote black entrepreneurs, startups and tech workers.

For example there are serious issues:
Those that are black-owned tend to trail in fundraising. Internet startups whose founders were black received a median of $1.3 million in venture financing in 2010 — compared with $2.3 million for companies founded by whites and $4 million for those founded by Asians.
But then there are also people creating solutions:
The America 21 Project, a nonprofit group that promotes technology as a means of generating wealth for the African-American community, is planning to launch an initiative for inner-city youth in the coming months in coordination with the White House, Womack said. Incubators like NewME may play a large role, according to Mike Green, another co-founder of America 21 and a writer for the Huffington Post. Green said such efforts could have a significant impact on black entrepreneurship.
The article also highlighted several black entrepreneurs and tech folks doing great work, specifically: Chris Bennett, leader of Black Founders; Angela Benton of Black Web 2.0; and Chad Womack, a co-founder of the America 21 Project.

To read the article in its entirety, click here.


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