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LinkedIn is on a mission to support the Black community. According to information provided exclusively to AfroTech, LinkedIn will distribute $500,000 in grants to digitalundivided and Blavity.org. The contribution will propel LinkedIn’s Black entrepreneurship fellowship programs and provide new economic pathways for the community. LinkedIn will work alongside the selected organizations to uplift the stories of rising entrepreneurs and instill awareness for additional capital and resources year-round. “As a company, we are on a journey to create equal access to opportunity and help drive more equitable outcomes. Our strategic partners are essential in that journey and since 2020, we have donated $5 million in funding and services to organizations that support economic and workforce development within the Black community,” LinkedIn said in an article published. “We selected digitalundivided and Blavity.org because of their holistic approach to developing, supporting and funding...
Fortune reports that in 2018, only 34 Black female founders had ever raised $1 million in venture capital for their company — today that number has tripled. According to Project Diane , in this year alone 93 Black women have reported their ability to secure $1 million in investor backing for their businesses. This biennial report on the state of Black and Latinx women founders was created by digitalundivided and reports that 90 Latinx women have been able to raise the same amount. “These stats are the ones that are going to spark conversations and lead to real, true systemic change,” share digitalundivided CEO Lauren Maillian. This information comes from a database of about 650 Black and Latinx female founders. It finds both groups of women combined received only 0.64 percent of total venture capital investment between 2018 and 2019, for a total of $3.1 billion. About 0.27 percent went to Black women and 0.37 percent went to Latinx women. A continued lack of access to institutional...