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What Can Be Done to Get More Funding for Black Women-Led Startups?

As more Black women enter the startup world, many are struggling to secure venture capital funding compared to their white male counterparts. In 2017, women received nearly 2.2 percent of the $85 billion available in venture capital funding. According to the ProjectDiane2018 report by digitalundivided, the numbers were even smaller for Black women. Black women represented .0006 percent of the $424.7 billion in total tech venture funding raised since 2009 and a majority of the funding was raised in 2017. The dismal rates at which Black women receive funding reflects a larger issue with diversity in the tech and venture capital spaces. The National Venture Capital Association (NVCA) and Deloitte released a report in 2016 that showed that Blacks accounted for 3 percent of the VC workforce and that women accounted for 45 percent. Black people only comprise 2 percent of senior positions at VC firms. “Research shows that diverse teams make better decisions and, with this baseline...

Feb 5, 2019