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The Michigan Black Business Alliance has opened a new hub to empower more entrepreneurs and drive economic equity. According to Crain’s Detroit Business, the organization — which focuses on closing the racial wealth gap through access to capital, networking opportunities, and advocacy — is expanding its reach. Since its inception in 2021, the alliance has grown its network from 250 to 1,800 members. “We’re still growing, and our members all have different needs,” Charity Dean, CEO of the Michigan Black Business Alliance, told the outlet. “We did a survey of our members in 2022, and some wanted a commercial kitchen and space for pop-ups. Imagine being able to try out products before you sign a lease to see if there’s a market for what you’re offering.” The Michigan Black Business Alliance has moved into a 5,000-square-foot space at Grand Park Centre at 28 W. Adams Ave. Entrepreneurs will benefit from co-working spaces, conference rooms, a wellness center, and classrooms. Furthermore,...
A Michigan-based venture capital fund focused on investing in businesses owned by people of color has joined forces with a renowned investment firm, paving the way for expanded growth and a more significant impact for both organizations. According to Crain’s Grand Rapids Business, the New Community Transformation Fund has partnered with Michigan Capital Network, which will manage fund’s, daily operations, and offer strategic guidance. Discussions between the two Grand Rapids firms began months ago. Paul D’Amato, CEO and managing director of Michigan Capital Network, said it “made sense” for both organizations from the start of the process. “We share their goal of creating access to capital for people of color because we know that business growth, entrepreneurship and capital investment strengthens our economy and makes our state more attractive to other businesses looking to relocate,” D’Amato said, Crain’s Grand Rapids reported. Through the affiliation, which gives the venture...
A new Detroit, MI, coffee shop has opened its doors. Crain’s Detroit Business reports Charity Dean, president and CEO of the Michigan Black Business Alliance, has launched Rosa Cafe + Market at 222 Third Ave. This isn’t Dean’s first venture either — she previously opened a Rosa Cafe, named after her great-grandmother, in 2022. “We just wanted to make sure we were open for the people,” Dean explained to the outlet. “There’s been a lot of excitement about the new cafe, so we wanted to get it open.” The new 800-square-foot storefront, which is currently being stewarded by five employees, is in a luxury residential property close to the Detroit River. The Cafe will be able to seat nearly a dozen customers at once inside while more can gather in its outdoor patio. Customers can expect to sip on various coffee items including an Ethiopian house roast coffee made by Faust Haus Roasting Co. Additionally, there will also be snacks and food options available for purchase. Dean is looking...
Long known as the main hub for America’s automotive industry, Michigan is also building a reputation as a leader in tech innovation, medical device technology and electronics. From vibrant urban communities to serene natural settings, Michigan offers a unique combination of professional opportunities and a quality of life. Below, we explore how the state is quickly becoming a go-to destination that has more Black professionals saying they can in Michigan!
A new venture capital firm is on the block with significant capital at its launch. According to WWMT-3 TV, Kalamazoo Forward Ventures (KZFV), reportedly the first Black-owned investment fund in Southwest Michigan, has launched with $50 million in capital, derived from limited partners. The firm has as its purpose to arm underrepresented founders residing in Kalamazoo, MI, as well as startups. “We came up with that fund by thinking about what we want to accomplish in the community, the ecosystem, and the funds started growing as the ideas started growing,” Eric L. Wimbley, CEO and founder of First Line Risk Management and managing partner of KZFV’s venture capital fund, explained, according to the outlet. Jamauri A. Bogan, CEO of Bogan Developments and KZFV general partner, commented: “It’s our job now as investors to this community and this ecosystem to now get that capital to folks who traditionally never have it.” Also a part of the group is Bobby J. Hopewell, who was the former...
University of Michigan (U-M) graduate Oluwami Dosunmu-Ogunbi has made history! The Street Journal reports she has earned a Ph.D. in robotics, the first for a Black woman at the institution. Reflecting on her milestone and speaking in front of thousands of people during the university’s 2024 commencement ceremony, she said, “If you do not know me right now that is OK, but I want you to remember me as the University of Michigan’s first Black woman to get a Ph.D. in Robotics. We did it class of 2024. We can officially call ourselves Michigan engineers.” She later took to LinkedIn and commented further stating, “Speaking at Commencement was the experience of a lifetime! To receive a standing ovation from a crowd of over 70,000 people in the largest stadium in North America…. Oh how far have I ascended! That little girl with big dreams is not so little anymore. She has become a GIANT.” Dosunmu-Ogunbi’s road to her doctoral started in high school. She recalls being “fixated” on the “funny...
The humble beginnings of Herman Moore were not going to stop him from achieving greatness, even beyond his playing days in the National Football League (NFL). According to Detroit Free Press, the former Detroit Lions player was taught by his mother the habit of looking at life from a broader perspective, a practice he maintained even in the face of financial difficulties. “She had me at 21 and worked so many jobs,” Moore told the outlet about growing up in Danville, VA. He continued, “We were a low-income family. We lived on less than $18,000 a year. But she made sure my sister and I always knew the endgame. We lived in government housing and were on food stamps, but that is not an excuse to not excel in life and to also help others.” Moore would lay his own foundation for generational wealth-building in 1991 after being drafted to the Detroit Lions and signing a three-year $2.4 million contract with the team, which included a $1.2 million signing bonus, according to Spotrac. Moore...
With many dollars up for grabs in the name, image, and likeness arena, one college athlete will be using his earnings for a better cause. Forbes reports Michigan State University’s Mady Sissoko is donating his NIL earnings to The Mady Sissoko Foundation. The contribution will directly support those from his home country in West Africa.
The good news is still pouring in for this Historically Black College and University (HBCU). Pensole Lewis College of Business and Design made history drafting proposed legislation that would benchmark it as the nation’s first-ever re-opened historically Black college, AfroTech previously reported. Now, Gov. Gretchen Whitmer appears to be on board as she reportedly signed legislation to confirm the proceeding of the HBCU. “I am proud to play a part in helping reopen the Pensole Lewis College of Business and Design in Detroit,” Whitmer said in a press release. “I am committed to expanding educational opportunities for Michiganders across our state to put Michigan first.”
Michigan State University (MSU) and Head Football Coach Mel Tucker are reportedly closing in on a groundbreaking deal, a deal that would not only make him the highest-paid Big Ten football coach but also cement Mel Tucker as the highest-paid Black head coach in sports. Tucker is currently in his second year of a contract signed with MSU back in February of 2020, where he is earning $5.56 million per year. Despite being in the early stages of the agreement, the new negotiations follow after Tucker’s name has been in the basket for a slew of coaching vacancies at other institutions. Most recently a position at Louisiana State University, which would become available by the end of this season as current head coach, Ed Orgeron’s contract has been terminated for undisclosed reasons. Michigan State seems to be making it clear that they want Tucker for the long term with a reported deal that will grant the Cleveland native $95 million over 10 years, according to an undisclosed source who...
Two Michigan natives are making history with the state’s first Black-owned brewery. Jamaal Ewing and Terry Rostic — who’ve deemed themselves as “craft beer heads” will open Black Calder Brewing Co. — on Black Friday. The craft beer heads will release their Black IPA (7% alcohol by volume), in the Grand Rapids area, reports the Detroit Free Press. The Black IPA will be sold exclusively out of Broad Leaf Local Beer in Kentwood and they have plans to collaborate with other Michigan breweries in the coming months. During its “start-up phase,” Black Calder will contract with Grand Rapids-based Brewery Vivant and Broad Leaf Local Beer with plans of opening a physical location in Grand Rapids in 2021. “Black Calder Brewing Company was established to make great beer and provide a platform for innovation, art, culture, and inclusion in the craft beer industry,” said Rostic in a news release. “We appreciate the significance of being recognized as Michigan’s first Black-owned brewery. It’s...