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Diversity funding

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TikTok Announces Second Cohort Of Funding For Online Hub Supporting Black Businesses

Last year, video creation platform TikTok announced the launch of an online hub designed specifically to support Black-owned businesses. Now the app is following up on its efforts to announce the second cohort of its Support Black Businesses initiative and further promote inclusivity around the spirit of entrepreneurship. According to TikTok, its Support Black Businesses hub — in partnership with Vimeo — aims to “give Black small business owners critical skills and resources to help them not only rebuild but grow stronger” by effectively advertising on TikTok to drive sales for these businesses. In addition to Vimeo, TikTok has also partnered up with Talent x Opportunity (TxO) — an accelerator program led by Andreessen Horowitz — to amplify the success of founders TxO and give access to different tools, resources, and networks to help transform their ideas into thriving enterprises. “The diversity of our community is what makes TikTok so dynamic and inspiring, and we’re committed to...

Njera Perkins

Jun 8, 2021

These Actor-Brothers Launched Canada’s First Black-Owned VC Firm Dedicated to BIPOC Entrepreneurs

Canadian actor-sibling duo Stephan James and Shamier Anderson recently launched their own organization to amplify opportunities for Black talent in their home country. Now they’ve co-launched an impressive initiative on behalf of Canada’s BIPOC entrepreneurs. According to a press release shared with AfroTech, Anderson and James, alongside their youngest brother Sheldon James, have all banded together to co-found the Bay Mills Investment Group — Canada’s first-ever, Black-owned venture capital firm that’s dedicated to supporting BIPOC entrepreneurs based in Canada. “As a serial entrepreneur and a Black Canadian, I’ve seen first-hand the stark disparities in adequate support for minority business owners not unlike myself,” co-founder and CEO Sheldon James shared in a statement. “This glaring gap has driven me to partner with my brothers to form this fund.” Alongside the VC firm, the trio of brothers have also launched The Bay Mills Diversity Fund, which will support and mentor young...

Njera Perkins

Feb 25, 2021

Kanarys, a Black Women-Led Cultural Analysis Platform, Secures Nearly $600K In Funding

Kanarys , a platform that analyzes cultural and demographic data to help companies create more inclusive and diverse atmospheres, has just secured $575,000 in its first round of funding. Founders Mandy Price and Star Carter got the idea for Kanarys after facing issues with inclusion with previous jobs. The two met at Harvard Law School and the relationship bloomed into a business partnership that is reaching new heights. Price, who also serves as Kanarys’ CEO, told Forbes that most corporate diversity initiatives “superficial” and do not actually have huge impacts on the company. “As we started Kanarys, we realized that inclusive cultures don’t just happen – they’re intentional,” Price said to Forbes. “And by re-aligning our collective focus to value inclusion and equity, along with diversity, employees become more engaged, more productive, and ultimately, more valuable to a company’s bottom line.” In addition to analytical demographic data, Kanarys offers business news on diversity...

Arriana McLymore

Feb 1, 2019

CTA Announces $10 Million Fund for Women and Diverse Founders

The Consumer Technology Association (CTA) has announced that it will invest $10 million in venture firms and funds focused on women, people of color and other underrepresented startups and entrepreneurs. CTA’s multi-million dollar fund targets the disproportionate amount of venture capital that women and minority-led companies receive. In 2017, women received nearly 2.2 percent of the available venture capital funding which totaled $85 billion. “To continue to evolve and grow, the tech industry needs more equal access to venture funding,” said CTA President and CEO Gary Shapiro in a press release . “Various research reports indicate diverse teams make better decisions and achieve greater profits. At CTA, this is one more tool we are deploying to help promote diversity in the technology industry.” CTA has previously been criticized for having gender-bias and a lack of diversity at its events. Lora DiCarlo, a women-focused company, was supposed to receive an innovation award at this...

Arriana McLymore

Jan 10, 2019

Big Sean Is Launching An Entrepreneurship Competition

Big Sean is partnering with the Thurgood Marshall College Fund and financial services company, Ally, to launch a new entrepreneurship competition aimed at helping underrepresented communities achieve economic success. The Detroit-based Moguls in the Making program is a week-long opportunity for select students at HBCUs to compete against other young entrepreneurs. Students will receive mentorship from the Ally employees to develop and present a completed business plan to a panel of judges—including Big Sean. “We’re simply not satisfied with the fact that there are groups that lack access to the education, tools, and resources that help to build a desirable path forward – in society, business, and in life,” Ally wrote in a blog post. “We want to be part of the solution, fostering efforts that help increase opportunities for economic growth and education so that everyone has a chance to realize their dreams.” Earlier this year, a study comparing intergenerational mobility found...

Jenna Chambers

Dec 21, 2018

Handshake, A LinkedIn Competitor That Encourages Diversity, Raises $40M In Funding

Handshake, the platform that wants to bring diversity to online networking on university campuses, just secured $40 million in a Series C round of funding. The company currently has more than 14 million users across the U.S. and is being used on nearly 700 campuses. The platform is tackling diversity by partnering with Historically Black Colleges and Universities and Hispanic Serving Institutions. Recruiters on the platform can also refine their searches using more specific parameters to pick from a more diverse pool of potential workers. “Our Handshake community is tackling the so-called ‘pipeline problem’ head on,” Handshake CEO and Co-Founder Garrett Lord said in a statement. “ Skilled students are on every campus in every corner of the country and we’re proud to help employers discover, recruit and hire up-and-coming talent from all backgrounds.” Handshake offers usage tiers which allow users to pay for more features. Employers and recruiters can also pay for enhanced features...

Arriana McLymore

Oct 31, 2018