Showing 2 results for:
Black Entreprenurs
Popular topics
All results
Launching a startup is no easy task. From coming up with an idea that can actually gain traction to creating a solid positioning statement, there are plenty of caveats that can cause even the most well-intentioned startups to fail — or at least stumble along the way. This is why getting assistance earlier on to help focus targets and strategies is critical. Enter the incubator concept . While the term is often used interchangeably with accelerators, it is not exactly the same thing. Although the end goal is to help fledgling startups gain their footing, launch and successfully enter the market, the way incubators go about it is different. Read on to find out more about the general purpose of business incubators and what is needed before applying to one. What Is A Business Incubator? Ignore the marketing speak and jargon because the concept is very straightforward. Breaking down what a startup business incubator is requires nothing more than considering what the actual piece of...
Dec 6, 2023
Editorial Note: Opinions are the writer’s own and not those of AfroTech. There is a persistent myth that investing in Black businesses is a charitable endeavor rather than a profitable one. In fact, almost twice as much money is donated to BIPOC focused nonprofits vs. invested in BIPOC founded startups. This myth assumes that Black entrepreneurs are not capable of producing the same level of returns as their white counterparts. However, research has shown that investing in Black-owned businesses can be extremely lucrative. A report by McKinsey & Company found that companies with diverse executive teams are 33% more likely to have above-average profitability than those without diversity. Furthermore, a study by the National Bureau of Economic Research found that companies with Black CEOs receive higher valuations than those with white CEOs. Despite these findings, Black founders continue to face significant obstacles when it comes to securing funding. In 2022, only 1% of all venture...
May 18, 2023