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Pharrell Williams is teaming up with fashion house Chanel to take his nonprofit organization to the next level. As previously reported by AfroTech, the super-producer and entrepreneur launched his nonprofit, Black Ambition, back in December to help support underserved entrepreneurs with startups across tech, design, healthcare and consumer products/services. According to Complex, now he’s upping the stakes with Chanel by launching a two-part mentorship program in addition to sponsoring two competitions this summer with prizes for Black and Latinx entrepreneurs as well as emerging talent from Historically Black Colleges and Universities (HBCUs). “Chanel’s support of Black Ambition is a cornerstone of Black Ambition’s mission and is vital to the success of the next generation of Black and Latinx entrepreneurs,” Williams said in a statement, “to honor their commitment to investing in human potential and advancing greater representation in culture and society, Chanel has put together an...
Following the racial justice movement last year, there was an uptick in venture capital deals for minority women founders, but has that support been sustained? This New Jersey-based nonprofit has the facts to show that it hasn’t. Founded in 2012, digitalundivided is a nonprofit organization that offers community and resources to Black and Latinx women entrepreneurs. The nonprofit recently released the first update on its ProjectDiane report, a demographic study that details Black and Latinx women founders and the startups they lead. The nonprofit began working on its biennial ProjectDiane report in 2016, with the most recent report publishing last year. The ProjectDiane 2021 Update assesses data from the fourth quarter of 2020 and the first quarter of 2021. Digitalundivided debuted the most recent findings at its undivided We Rise virtual summit last month. “Studies show that Covid-19 alone has sped up digital transformation by 5.3 years,” digitalundivided CEO Lauren Maillian said...
As it pushes to support more Black and Latinx women entrepreneurs in innovation and technology, New Jersey-based digitalundivided launched a new fellowship program, according to a news release. The social impact nonprofit is hosting the Do You Fellowship as a 12-month program to boost 12 Black and Latinx women founders with coaching support, $5,000 in funding and other professional development resources. The inaugural cohort will also receive access to digitalundivided’s newly formed Mentorship Council which is a growing network of CEOs, investors, industry leaders and other supports looking to help guide minority women founders. “We launched the Do You Fellowship to better position these diverse founders to lead, raise capital, become profitable, and scale,” Lauren Maillian, CEO of digitalundivided, said in a release. “The Do You Fellowship received incredible support from corporate, foundation, and accelerator partners, all eager to invest in this first, powerhouse cohort of...
Ernst & Young LLP just announced their inaugural cohort for Black and Latinx entrepreneurs, the Entrepreneurs Access Network (EAN). According to PR Newswire, the comprehensive, business accelerator — which operates as an executive-level educational program to elevate scalable companies — will include entrepreneurs in 10 markets across the U.S. giving companies access to resources, networks, and mentors. “Deep-rooted systemic challenges hinder many minority-owned businesses from achieving their full potential, an issue that was exacerbated this year,” said EY Americas Vice Chair of Accounts, Sam Johnson, in a press release. “Through EAN, our goal is to provide Black and Latinx founders with the necessary support to sustainably scale their businesses and drive economic growth. Without equitable access, the future of many Black and Latinx-owned businesses — and millions of jobs — hangs in the balance.” According to the press release, only 1 percent of venture capital dollars go to...
Goldman Sachs (GS) is putting their money where diversity is. Through Launch With GS, the investment banking giant’s $500 million investment initiative, the firm has announced its first Black and Latinx Entrepreneur Cohort in a press release . GS will offer a select group of startup founders, CEOs, and innovators the opportunity to be a part of their first entrepreneur cohort. Goldman Sachs firmly believes that diverse teams outperform less inclusively led companies. As a result, recipients will participate in a customized, eight-week experience that gives future-thinking minds intimate access to business development services, industry specialists, legal resources, and ultimately, the sprawling, influential network within the walls of Goldman Sachs. Launch With GS aims to increase access to capital and facilitate connections for women, Black, Latinx, and other diverse entrepreneurs and investors. “Black and Latinx founders collectively receive less than 1% of venture funding,” said...