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Concerns about the future have intensified as Donald Trump prepares to be sworn in as the 47th U.S. president. The Washington Post reports minority- and women-owned businesses have looming concerns over contracts, citing a potential loss of $70 billion in annual contracts amid legal disputes affecting government programs for “disadvantaged” firms. Within the Black community, legal issues were prevalent amid Fearless Fund’s ongoing litigation, which has now been settled. As AFROTECH™ previously reported, the firm, led by founding partner Arian Simone, was sued by Edward Blum and his American Alliance for Equal Rights group in August 2023 over its Strivers Grant program. The $20,000 grant backed by JPMorgan Chase & Co. and Mastercard had been aimed at small businesses primarily owned by Black women, and the activist group accused the investment firm of “explicit racial exclusion.” The group had already been victorious in the Supreme Court over race-based affirmative action policies....
History was made on Sunday, Sept. 22, 2024, as the Carolina Panthers and Las Vegas Raiders faced off in the first NFL game featuring women-led teams. As AFROTECH™ previously reported, The Raiders are led by Sandra Douglass Morgan, the first Black and Asian woman to serve as an NFL team president, taking over from Dan Ventrelle. The Panthers are led by Kristi Coleman, who replaced Tom Glick as president. The Panthers defeated the Raiders 36-22 on Sunday. Photo Credit: Louis Grasse Coleman was named president in February 2022, followed by Morgan in July of that year. According to the Raiders, the two women have formed a strong professional relationship over the past two seasons, with Morgan even joining Coleman for the Panthers’ International Women’s Day celebration in 2023. “You do feel a little bit more comfortable when you have someone else you can call,” Coleman shared, per the Panthers. “While Charlotte and Vegas are obviously two very different markets, the role and what you’re...
Rosalind “Roz” Brewer has joined a coalition of leaders to advocate for financial prosperity in Black communities. As AFROTECH™ previously told you, Brewer — an alumnus of Spelman College — formerly helmed as Walgreens Boots Alliance chief executive officer (CEO). This company, headquartered in Illinois, owns the retail pharmacy chain Walgreens in the U.S. and the U.K. However, Brewer exited her position in August 2023. She was the only Black woman to hold the C-suite title in the S&P 500 at the time, per Bloomberg. The former Walgreens CEO was also the third Black woman to lead a Fortune 500 company, notes Forbes. Before Walgreens, Brewer served in leadership roles for retail giant Walmart and then transitioned to its Sam’s Club division as president and CEO to advance digital technology and improve shoppers’ experience, a news release mentions. She also took on the role of the chief operating officer (COO) of Starbucks Coffee Company from 2017 to 2021. Her contributions included...
The National Football League (NFL) is working to diversify the employment pipelines for students pursuing a career in sports medicine. As AfroTech previously told you, the NFL partnered with the NFL Physicians Society (NFLPS) and the Professional Football Athletic Trainer Society (PFATS) for the NFL Diversity in Sports Medicine Pipeline Initiative. Now, the program welcomes 14 students selected from four Historically Black Colleges and Universities (HBCUs) who will begin clinical rotations with NFL club medical staff in September.
Raising $4.25 million, co-founders Jasmine Shells and Denise Umubyeyi are two of 250 Black women to raise more than $1 million in venture capital. According to a press release shared with AfroTech, their software company Five to Nine closed a seed round led by Black Ops Ventures with participation from Slack Fund and Cleveland Avenue. To date, Five to Nine has raised $5.75 million with the help of recurrent investors such as Mike Gamson, Sterling Road, and Concrete Rose Capital. The funding will expand its product and engineering teams, strengthen its sales capabilities, and launch new customer solutions.
FLOW, the blockchain created by Dapper Labs designed to be the foundation for a new generation of games, apps, and the digital assets that power them, has announced a new grant program to bring Web3 diversity to the forefront. In a blog post, it was revealed that the company is currently accepting applications “for Black developers, platforms or creators looking to build large-scale dApps and create innovative experiences on the blockchain.” FLOW also announced its $1 million grant. “In addition to the Token grant, recipients will receive promotional and customized support from a team and network of experts including technical, design, product, and marketing,” read the blog post, which also makes it clear that this is in addition to its other initiatives in celebration of Black History Month. “This grant is one step in FLOW’s commitment to creating a welcoming environment for all people to join the ecosystem and that it is a true representation of our diverse world” The company has...
If you’re on the hunt for a minority-owned business in the events space, the vetting process just got easier, thanks to ourBLOC.com. Sweethearts Lola McClaney and Richard McClaney recognized an apparent disparity when they hunted for Black vendors for their wedding. The couple searched through countless Instagram hashtags and filtered through various profiles of businesses to ensure it was minority-owned. The process sparked the question between the couple, “Why isn’t there a platform that caters to this audience?” At this moment, the soon-to-be bride and groom knew it was time to create a solution that would diversify the event planning space. “Coming from the industry and going from being a vendor to a client, I have seen many disparities. It was important to create a platform for Black and minority-owned businesses for folks who look like us. We think it is important because that’s how you build community,” Lola McClaney told AfroTech exclusively. The move proved to be timely, as...
For many people, the metaverse offers a better, more idyllic world; the world as we’d like it to be. But sadly, human weaknesses often follow us into the virtual realm — and that fact can easily extend to those who help create the metaverse. Without realizing it, harmful preconditions can be easily built into the software that perpetuates stereotypes and prevents metaverse users from enjoying a more inclusive and equal virtual experience. It’s been proven that biases, cultural and ethnic assumptions, and even racism impact the technologies used in digital animation for motion pictures and video games. Those traits can also affect companies that serve the metaverse.
StockX has appointed Robin Washington as its new audit committee chair, the company shared in a press release. Detroit-based StockX is known for its online marketplace featuring luxury sneakers, apparel and accessories, electronics, collectibles, and trading cards. The five-year-old company, which only allows sellers to list new items in original packaging, also has a rigorous authentication process to ensure products are real. Washington joins StockX’s board with a wealth of experience advising tech and life science companies. In her new role, she’ll advise its leaders as StockX plans for international expansion and diversifying its catalog. “Robin is a proven and dynamic leader, with deep experience as an operator and board member at some of the leading global organizations of our time. Today, we’re thrilled to welcome her to the StockX board as the Chair of our Audit Committee,” StockX CEO Scott Cutler said in a statement . “Robin’s perspective will be invaluable to our...
Snap Inc. is introducing its latest efforts to push diversity, equity, and inclusion (DEI) to the forefront with the launch of 523, its first content accelerator program, according to information provided to AfroTech. The goal of 523 is to champion small, minority-owned content companies and creatives. The program counteracts those whose support and resources don’t match the massive influence they bring to the Snapchat community. Courtesy of 523 “The voices of underrepresented groups have long helped shape mainstream culture, yet these creative minds often don’t see the equitable benefits from their impact,” Starr Nathan, 523 Program Manager at Snap Inc., said in a statement. “If you want to make a real change, you have to embed equity in the business. That’s why we are designing tailored workshops, providing funding and helping participants build sustainable businesses.” The fuel behind Snap Inc.’s mission to help build minority-owned content companies and creators is Snapchat’s...