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Alicia Scott made history with her appearance on on “Shark Tank.” Scott, a former account executive, is the founder of the cosmetic brand Range Beauty, which was supported through a personal investment of $150, she revealed on the Foundr podcast. The company, marketed as a “clean beauty brand for the forgotten shades” and geared towards acne & eczema-prone skin, officially launched in August 2018, according to its LinkedIn. View this post on Instagram A post shared by Range Beauty (@rangebeauty) Within two months of its launch, she was contacted by a Target buyer interested in potentially shelving the product. At the time, Scott wasn’t quite ready to take that business leap, but felt validated by their interest “T hat’s where I felt like ‘Okay if a major retailer is reaching out that means I have something,'” she explained on the podcast. The company’s potential shone once more when a surge of orders followed an influencer ‘s social media post praising its inclusive shade range. At...
Melissa Bradley is turning a new leaf! Since 2016, Bradley, who was featured as an AFROTECH™ Future 50 Dynamic Investor, has been the proud founder of Washington, DC-based 1863 Ventures, which provides business development programs, coaching, mentorship, and access to capital primarily for new entrepreneurs, as noted on her LinkedIn profile. As AFROTECH™ previously reported, the venture aims to create $100 billion in wealth for the “New Majority,” Black and brown entrepreneurs. This goal is reflected in its portfolio, which comprises 90% Black-owned businesses, including the following: Nubian Heumann Eu’Genia Shea Harlem Candle Co. The Black Girl Doctor Now, eight years into 1863 Ventures’ inception, the Washington Business Journal has reported that the organization’s board voted to close down 1863’s nonprofit arm, which focused on early-stage companies. Currently, Bradley is on the hunt for a partner who can take on ownership of its portfolio companies, which have benefited from an...
“Houston, we have a problem” took on an entirely new meaning as AFROTECH™ Conference 2024 transformed the city into a hub of innovation and inspiration. Over 37,000 participants, 237 dynamic speakers, and 168 leading corporations came together to create a groundbreaking experience that redefined networking and collaboration. Over four electric days, Houston, TX, became the epicenter of innovation, wealth-building, and culture. From groundbreaking tech demos to impactful conversations on economic empowerment, AFROTECH™ delivers it all with unmatched innovation and purpose. Innovation At The Forefront This year’s conference lived up to its promise, showcasing the forefront of technological innovation. Attendees got a first-hand look at product demos from SnapChat, showcasing its latest hardware, and NVIDIA, which wowed the crowd with groundbreaking 3D imaging technology. The Learning Labs offered AI demonstrations and outlooks for the future, with Google unveiling its advanced Gemini...
Melissa Bradley is a dynamic investor leading a multi-billion-dollar initiative to uplift minority entrepreneurs. She is the founder and managing partner of 1863 Ventures, a Washington, DC-based nonprofit accelerator and venture fund that began to realize its purpose once it veered away from a “one-size-fits-all” mindset, AFROTECH™ previously reported. “Once we were able to identify what were the unique needs of each of those segments, then, we’ve now developed respectfully an award-winning set of programs around that, which has allowed us to generate over a billion dollars of new revenue by our businesses,” Bradley previously told AFROTECH™ at the Goldman Sachs 10,000 Small Businesses Summit in 2022. “We’ve created over 3,000 jobs in the last five years. And luckily, we had a 95% survival rate post-COVID for all of our businesses.” Furthermore, among 1863 Ventures’ efforts is the 3Rs (Recovery, Rebuild, Resilience) business development program, which launched in 2021 to provide...
Since launching 1863 Ventures in 2016, Founder and Managing Partner Melissa Bradley has learned all about what it means to make changes to create an even greater impact. As previously reported by AfroTech, the D.C. -based company is on a mission to create $100 billion in new wealth by 2030 through its nonprofit programming and venture fund. Following her session titled, “Owning your Growth Trajectory in Today’ s Economy,” at Goldman Sachs 10,000 Small Businesses Summit, Bradley spoke about her own company’s shift in its course in an exclusive interview with AfroTech.
TD Bank is rolling out a new initiative to further support Black and brown business owners in America. Today, the national bank announced the establishment of its new $100 million equity fund to provide financial resources to small minority-owned businesses. This comes as part of its continued commitment to address racial inequities and support underserved communities of color. TD Bank’s equity fund allows Specialized Small Business Investment Companies (SSBICs) — which provide financial assistance to disadvantaged or minority-owned businesses — and Community Development Financial Institutions (CDFIs) — known for helping Black and Latinx-owned businesses secure financing — to offer up small business loans and technical assistance to ensure that these businesses have the tools they need to scale effectively. “We hope that our investment in these SSBICs and CDFIs serves as a means of making access to capital more equitable for minority small business owners. But our support doesn’t...
Clark Atlanta University (CAU) has announced a new groundbreaking initiative to set the nation’s Historically Black Colleges and Universities (HBCUs) up for future success. A press release reports that the university has launched the HBCU Executive Leadership Institute (ELI) — an incubator that works to recruit and develop future presidents to run America’s 100-plus HBCUs. The first-of-its-kind program aims to preserve the legacy of HBCUs in this country and strengthen them as hubs for education, opportunity and upliftment in the Black community. “HBCUs have a clear value proposition and continue to be the standard-bearers of Black excellence across every sector of business and society. Through ELI, we are committed to identifying dynamic leaders who can advance the growth and sustainability of our institutions of higher learning,” Clark Atlanta University President, Dr. George T. French Jr. shared in a statement. “We invite leaders of industry – from Silicon Valley and Wall Street...