Brazil has one of the highest Black Populations, which only comes second to the country of Nigeria. According to Forbes, the country’s Black population spends about 1.7 trillion reais ($380 million) into the local economy. São Paulo-based BlackRocks Startups (BRS) wants to take advantage of that spending power and empower Black entrepreneurs and startups.
BlackRocks is a company that creates an ecosystem that empowers technological entrepreneurship and encourages economic growth for the Brazilian Black population. According to Forbes, in 2019, BRS supported five startups and has plans for 16 early-stage startups to participate in their program this year. BRS offers leadership development, a professional qualification program, and an innovation lab where participants can discuss ideas and prototypes.
BRS also has an accelerator program that offers support from mentors in a chosen field as well as access to investors. This year’s accelerator will center around investment funds, philanthropic organizations, and technology companies. Along with its many resources aimed towards helping Black startups, BRS also has co-working spaces and hosts events where participants have access to industry titans.
According to the BRS blog, the theme of 2020 will be to take action toward fulfilling and staying true to their mission of increasing the role of Black startup entrepreneurs, supporting them, giving them visibility, and creating an atmosphere that ensures success.
