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Some people know the moment they enter the workforce that, they are meant to be their own boss. Others may have known from the beginning but are waiting for the right idea to ignite a fire within them. However, waiting too long can just as easily stifle that fire. Aspiring entrepreneurs often find themselves throwing up their hands in defeat saying, “I want to start a business but have no ideas.” Most successful entrepreneurs share that it is not always about having an original idea that gets one started in business, nor does that original idea automatically equate to success. For many, it was taking an existing idea and iterating upon it; making it more efficient and polishing it. In other words, it was about starting rather than waiting for just the right moment with just the right idea. With this in mind, here are ten tech business ideas for those who want to start a business but have no ideas. Each one of them capitalizes upon existing tech that is popular and becoming more and...
Over the course of my life, I’ve had a bird’s eye view of what it takes to be a Black entrepreneur as the wife of one. From what I’ve observed, embarking on the entrepreneurial journey is an act of courage. It’s a daunting road that comes with a lot of uncertainty and challenges, yet is simultaneously one of the most rewarding experiences life has to offer. For the Black community specifically, there are even more hurdles to overcome during this journey. It cost Black business owners approximately $21,000 to start their businesses — $5,000 more on average than their non-Black peers, according to an Intuit QuickBooks study. While this can feel discouraging, there are countless examples of successful Black entrepreneurs who have overcome roadblocks and gone on to achieve success. Issa Rae and Nate Burleson are two Black entrepreneurs who were tested along their entrepreneurial journey. Issa’s fame peaked when her show “Insecure” gained critical acclaim, and she’s now the CEO of her...
While the talent of Black entrepreneurs is limitless, their access to what is necessary to reach success is often stunted. Within the movement of transforming the ecosystem, the Black Economic Alliance Foundation has joined a leading systems technology company to provide ample funding and support.
Dr. Juliette Nelson is making way for Black women in the eyewear industry with her luxury eyewear brand, NURILENS . With its signature wooden frame and imaginative designs, NURILENS seeks to enrich the lives of all through its quality. Being of Haitian heritage, Dr. Nelson understands what it means to be a trailblazer. That belief has helped drive her initiative. AfroTech was able to catch up with Dr. Nelson on the heels of Haitian Heritage Month to highlight her vision for this eyewear brand, and to encourage us all accordingly.
Collaboration is one of the most powerful forms of currency, and the proof is evidenced by Pharrell Williams and HEINEKEN USA. In a recent press release, HEINEKEN USA announced a partnership with Pharrell’s nonprofit venture, Black Ambition. In 2020, the nonprofit was founded to help close the wealth gap through entrepreneurship. According to the company’s website, Black Ambition “invests capital and resources in high-growth startups founded by Black and Latinx HBCU students and entrepreneurs.” To date, Black Ambition has awarded $3.2 million to 34 business owners in the sectors of technology, goods and services, healthcare, and design.
Cha-ching — that’s the sound of Black entrepreneurs going to the next level! According to Howard Newsroom, PNC Financial Services Group Inc.’s charitable foundation has announced a five-year $16.8 million grant to Howard University to build the The Howard University and PNC National Center for Entrepreneurship. “This is a huge investment by PNC and it’s going to have a tremendous impact to address Black wealth and Black businesses,” said Anthony Wilbon, dean of Howard’s business school in an official statement. The Howard University and PNC National Center for Entrepreneurship is on a mission to equip Black entrepreneurs with both the education and resources needed to expand their businesses. This will also open the door to helping them create a network among other business owners and chambers of commerce. “The center will be an effective champion of interdisciplinary entrepreneurship education and entrepreneurial development within the African-American community,” said Wayne A. I....
One thing about Ciara Princess Wilson? She’s going to forever reign as a hardworking multi-hyphenate entertainer. It seems as though AfroTech has been reporting on the serial entrepreneur’s business moves all year — from launching her clothing line — LITA — earlier this year to her multiple business ventures under The House of LR&C with her husband Russell Wilson. Plus, with her latest partnership, she’s continuing to be a business mogul in the making. Forbes reports that Ciara has recently joined Ten To One Rum’s founder and CEO Marc Farrell as an investor, co-owner and director for the brand. “When I get a chance to do things and projects like this, I’m pretty involved,” Ciara told Forbes. “I look a step before the actual product to work with really great business partners. For me all the boxes were checked. This is a space that not too many women occupy, and I saw a tremendous opportunity as an entrepreneur, and as a woman of color.” Ciara’s new roles for Ten To One Rum entails...
Black Americans own 2.2 percent of the nation’s 5.7 million employer businesses, according to U.S. Census data. Yet, many lack the proper financial tools, guidance, and resources to succeed. States like Georgia saw a big jump in business growth last year with a 57 percent increase in new business formations. While this may seem exciting, Black businesses historically bring in less revenue because they face challenges related to funding, business models, financial understanding, and leadership. McKinsey & Company reported that while approximately 15 percent of white Americans hold some business equity, only five percent of Black Americans do. Octavia Conner, a virtual CFO and founder of Say Yes to Profits, told AfroTech that for Black business owners to succeed, they’ll also need more support from corporate America. She said corporate America needs to stop limiting opportunities for entrepreneurs based on the color of their skin, offer more programs and financial resources, and grant...
Designer and Creative Director Joe “Freshgoods” Robinson has made a name for his Chicago-based streetwear brand by building authenticity within fashion. Over the years, the self-made entrepreneur has become the people’s champ when it comes to combining the essence of his local community with a culturally-significant message, and his latest collaboration with New Balance is no different. The “Outside Clothes” collection is described as bringing back the nostalgia of playing outside during our childhood, but it’s also a nod to Robinson’s creative process and the privilege we lost of actually being outside on account of the pandemic last year. The phrase “We miss when outside was outside” is used on some of the pieces from the new collection. It is a statement that Robinson believes to be a true sentiment for many people at this time. Photo courtesy of Joe Freshgoods “I didn’t realize until last year how much the act of being outside had played a major part in my career,” he said in a...
On the centennial of the Tulsa Race Massacre on June 1, Tyrance Billingsley II decided to launch an organization to aid Black entrepreneurs living in the area once known as Black Wall Street . The native Black Tulsan entrepreneur teamed up with SecondMuse to launch Black Tech Street , a national initiative and tech hub on a mission to mobilize resources and companies to build a community for Black-owned technology companies. “I am a born and raised Tulsa entrepreneur, ecosystem builder and community leader. I excel in visioning and convening people to work together toward building collective progress,” Billingsley told AfroTech. “I am passionate about the tech industry and envisioning ways we can use technology to enhance quality of life.” SecondMuse has a decade of experience incubating entrepreneurial ecosystems to create equitable economies. With 13 global offices, the global innovation company will be lending personnel and resources to Billingsley to execute Black Tech Street’s...
Historically Black College and University (HBCU) Spelman College is joining its Atlanta counterparts — Clark Atlanta University and Morehouse College — in a partnership that will make entrepreneurship more accessible to its students. According to a press release, the all-women HBCU is one of the latest partners of Blackstone LaunchPad — a Techstars powered campus resource connecting schools to business and entrepreneurship — for a mission dedicated to giving diverse students in the Atlanta University Center Consortium more access to tools and resources to help develop their own entrepreneurial skills. Blackstone LaunchPad was developed with support from the United Negro College Fund Inc. (UNCF), and its expansion to Spelman, Morehouse and Clark Atlanta is the latest step in the Blackstone Charitable Foundation’s commitment to increase career mobility for diverse student bodies. “Spelman’s goal is to provide our students with the competitive edge they need to excel in any field,”...
Darold “DJ” Kelly Jr.’s life was turned upside down when he was expelled from college for crimes he did not commit. Since reclaiming his innocence, Kelly has been focused on building an association to serve Black cybersecurity professionals. Born in Washington, D.C., Kelly was raised in Prince George’s County, Maryland. During his tenure at Howard University (HU) where he was studying political science, Kelly was “accused of violence” as he describes it, and he was ultimately expelled from the prominent HBCU in 2016. Kelly was three months shy of graduating from HU when he was forced to halt his educational journey, HBCU Buzz reported. “My story isn’t necessarily popular, that’s just what it is, and it was during a really bad time to get accused of violence.” Kelly told AfroTech in a video interview. “But I was accused of violent acts I never committed.” After being convicted, Kelly appealed his case and all of the charges were ultimately vacated in 2019. While he got his innocence...
Bank of America has forged the ultimate partnership with the Black Economic Alliance Foundation, Morehouse College and Spelman College in an effort to build a new Center for Black Entrepreneurship (CBE) to empower the next generation of Black business leaders. A press release reports that the development of this new project — powered by a two-year $10 million grant — comes as a first-of-its-kind academic center created to “assemble, educate and empower a new class of Black entrepreneurial talent.” The idea behind the CBE is to not only provide more opportunities for young aspiring Black entrepreneurs, but also to show how important it is to come together and support a cause that’s crucial to our future in this country. “The Center for Black Entrepreneurship will help close the opportunity gaps among industry, the investment community and Black entrepreneurs. The CBE will harness the multiplier effect of education, exposure, mentorship, access to capital and opportunity,” said David...
You already have everything that you need to be successful! Damon Brown is a self-made entrepreneur on a mission to help people use the resources that they already have in order to build the life of their dreams. In his new book, “Build From Now: How to Know Your Power, See Your Abundance & Nourish the World,” Brown helps others choose their fate by taking more of an intentional approach than the average self-help book. Brown sat down with AfroTech to chat about his intention behind his latest book, how to utilize the resources that you already have, and even gives us a sneak peek through an excerpt from the book available now at buildfromnow.com. AfroTech: Describe Damon Brown in three words. Brown: Hmm. I would say that personally, I’m intense, intimate, and relationship-oriented which is also reflected in who I am as an entrepreneur. I always say that when people found companies, their DNA is in the company. AfroTech: Tell us what you mean by “how to know your power, see your...
This 11-year-old is preparing for college the right way! Hart Wilson created Candles From The Hart from the ground-up after a trip to Howard University at the age of 6. It was then that the HBCU located in the heart of Washington, D.C. became his dream school, but he knew that saving money was a must to make his dream come true. Last year he executed a plan and began to raise money through his candle business. “I got on the internet and saw that people were making different things to sell and earn money, and I settled on candles,” Wilson told Because of Them We Can. “My parents and I watched YouTube videos and started experimenting with making candles, and we figured it all out, and that’s when it all started. Wilson utilized online marketplace, Etsy, and began selling his unique candles. Scents include Cashmere Plum, which is a fragrance in honor of Alzheimer’s Awareness Month, Guava Fresca, Grapefruit and Mint, Tranquil Sea, and Asian Pear and Basil, plus more. View this post on...