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Black-owned busineess

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Supported By A $2M Grant, A Black-Owned 50,000-Square-Foot Co-Working Space Has Opened For Minority-Led Businesses

A new co-working space has opened in Newark, NJ, to support minority-owned businesses. According to Tap into Newark, Equal Space, a 50,000-square-foot, multi-floor, space opened its doors to entrepreneurs on May 14, 2024. A s co-founder and CEO, Citi Medina leads the concept, which was 10 years in the making, Blavity reports. The Brooklyn, NY, native who moved to Newark observed there was not a safe co-working space for talent of color. So, alongside his co-founder and COO, Ralphie Roman, they turned their attention towards creating a solution and birthed Equal Space in 2014, which had previously opened a 16,000-square-foot shared space and incubator ES89. The location includes meeting spaces, an event area, and content creation suites, its website mentions. Now, the Newark area will receive further support through the new downtown ES550 Tech & Innovation Campus at 550 Broad St., which boasts spaces for single founders and teams, “state-of-the-art event spaces” for 300 people, and a...

Jun 7, 2024

How Partake Foods Founder Denise Woodard Disrupted The CMG Space And Raised $30.5M In Capital Fueled By A Commitment To Her Daughter's Health

Responding to a fundamental calling, Denise Woodard became a visionary in a $2 billion industry. Her Calling Woodard was looking to find a solution to help her daughter who had various food allergies, as previously reported by AFROTECH™. She was searching for snacks that would help her daughter but ultimately started creating her own recipe for cookies made without wheat, tree nuts, peanuts, milk, eggs, soy, fish, sesame and shellfish — launching vegan company Partake Foods in 2016. Woodard saw great promise in her products and believed others would too. She received checks up to $10,000 from family and friends through a Kickstarter campaign to scale the business into Whole Foods and Wegmans, she told Forbes. “I was cobbling together $5,000 and $10,000 checks to keep the lights on, from anyone who would listen,” she told Forbes. “The dribs and drabs were not enough, so I sold my engagement ring. But we were seeing traction, which led us to raise our first institutional round.” A...

May 30, 2024

South Carolina Gamecocks Athlete Raven Johnson Secures NIL Deal With Hair Technology Company Parfait

Women-led hair startup Parfait continues to champion Black women. As AFROTECH™ previously mentioned, Parfait is reportedly the first to integrate facial recognition and artificial intelligence (AI) to provide buyers with customizable wig products. It previously raised $5 million in April 2022, backed by a funding round led by Upfront Ventures and Serena Ventures. “It’s widely understood that facial recognition systems perform less well for women and people of color,” said Parfait Co-Founder Isoken Igbinedion, a former Target and Amazon executive . “Training models used in facial recognition technology are largely unbalanced, often relying on training datasets that are similar in makeup, and do not represent the visual composition of faces worldwide. This often results in poor performance for users who do not fit into that dataset, often represented by white faces and male features.” She continued, “Parfait seeks to be the first to make major progress in improving product and service...

May 30, 2024

Black-Owned Juice Bar Offering Entrepreneurship Training To The Youth Expands To A Second Location In Baltimore

A Baltimore, MD-based juice bar helping the youth will be expanding to its second location. As AFROTECH™ previously reported, Rich Juice Bar opened its doors to the South Baltimore community in 2023. Co-founder Michael Battle had experienced health issues such as diabetes and high blood pressure, and after adopting a healthier diet he saw improvements, reports The Baltimore Banner. Now, alongside his wife, Danielle, they are making it their life’s mission to make affordable and healthful food options such as juices, smoothies, and acai bowls accessible. View this post on Instagram A post shared by RICH JUICE BAR| POURING LIFE INTO THE COMMUNITY (@richjuicebar) What’s more, Rich Juice Bar’s mission extends a hand to the youth, offering job opportunities as well as training in communication, entrepreneurship, banking, and financial advocacy. “This social enterprise will provide wellness and economic vitality, health and delicious cold-pressed juices, nutrient rich smoothies, and...

Apr 23, 2024

Local Lands, A Black-Owned Georgia Farm, Secures Funding To Expand Food Access For Local Residents

A nonprofit in East Point, GA, has distributed a grant to Black-Owned Georgia Farm, Local Lands, to expand local food production.

Jan 19, 2024

Applying For TikTok’s Accelerator Program Could Provide The Visibility That Your Black-Owned Business Needs To Thrive

Black Business Month is here and TikTok is tapped in. The social media platform is resuming its efforts to champion diverse communities with the return of the Support Black Businesses accelerator program. Courtesy of TikTok

Aug 9, 2022

Capital One Is Donating $10K Grants To Create A More Hopeful Future For Black-Owned Business

Capital One will continue to support underserved communities. The banking service will build on its $200 million multi-year commitment by contributing an additional $10 million to existing and new partnerships. The funding aims to close gaps in equity and opportunity to foster growth for underserved communities. Recipients of the new funding include African American Alliance of CDFI CEOs, Vera Institute of Justice, United Negro College Fund, finEQUITY, Local Initiatives Support Corporation, Black Girl Ventures, and Jobs for the Future. In addition, Capital One will target funding toward Black-owned businesses. The contribution will be timely as various Black businesses experienced financial droughts during the peak of the pandemic. Capital One will partner with the Association for Enterprise Opportunity to create the Capital One Business grant program. Business owners will receive $10,000 grants through the program and access to free resources to propel their business through...

Feb 8, 2022

Nine Months and Kickstarter Later, Black-Owned Card Game CultureTags Hits Target Shelves

CultureTags — a Black-owned card game designed for people who love both the culture and hashtags — has expanded just in time for the holidays. According to Because of Them We Can (BOTWC), nine months after its successful Kickstarter campaign, the card game founded by Eunique Jones Gibson, is hitting Target shelves. Gibson is a visionary, wife, mother of three, cultural curator, and founder of. BOTWC, where she’s spent the last decade highlighting Black culture and community. Her new game is just an extension of her commitment to that work.   View this post on Instagram   A post shared by CultureTags (@culturetags) “I was online and I saw a long acronym in my Instagram feed,” said Gibson on how she got the idea to create the game. “There was no context and people were amazed at their ability to decode it with no help. I was one of those people. As I read the comments and laughed in agreement, I realized this was a game, but it wasn’t until December 2019 that I actually started to...

Dec 1, 2020