Without any further delay;
This week we will be highlighting business incubators & accelerators targeting entrepreneurs living within the diaspora.
The purpose of an incubator is to:
established to nurture young (startup) companies during their early months or years.
It usually provides affordable space, shared offices and services, hands-on management training, marketing support, networking opportunities and, often, access to some form of financing.http://www.businessdictionary.com/definition/business-incubator.html
Living in the diaspora comes with a challenging entrepreneurial experience, making incubators & accelerators geared towards this challenge a great value to the community and culture.
Check Them Out!
“Creating power through opportunity by supporting high-growth entrepreneurs of color nationwide.”
PowerMoves offers a 6 week intensive bootcamp for 20-30 startup founders that will provide information, guidance & networking opportunities needed to produce asuccessful businesses.
Their annual Accelerator supports up to 6 developing companies.
PowerMoves practices founder friendly investing; offering free office space, & creating opportunities through various events. Experienced entrepreneurs are available to offer founder coaching & mentorship.
Starting with an inaugural conference in 2014, PowerMoves makes it a point to travel & share its mission across the country, with events in: Oakland, CA, Chicago, IL, Miami, FL and many others.
They are really out here doing the work!
Stay up to date with their events here.
Our mission is to increase the number of successful black entrepreneurs in technology.
This incubator is looking to create an ecosystem that stimulates economic growth with these creative programs:
Ever been to a hackathon?
Let’s set the imagery.
Hackathons are like The Computer Science Fair meets Undergraduate Students.
They are usually set to some theme (health, finance, automation, virtual reality), & participants have a limited amount of time to build an app or develop a program. You & your teammates come up with a solution to best address said problem or you could work alone.
Students usually pull all nighters to outwork the competition but mostly just to debug.
But why is all this important?
Hackathons come with opportunities, a lot of them.
They are usually sponsored by tech companies looking for new talent. That is to say: possible summer internship, graduate programs, career advice and exposure to recruiters.
With the Forbes headline: Founders and Venture Capital: Racism Is Costing Us Billions, &
In 2016, the Center for Global Policy Solutions reported that due to discriminatory financing practices and a bias towards companies primarily operated by white males, America is losing out on over 1.1 million minority-owned businesses, and as a result, foregoing over 9 million potential jobs and $300 billion in collective national income.http://globalpolicysolutions.org/report/color-entrepreneurship-racial-gap-among-firms-costs-u-s-billions/
Black Founders is utilizing Gust to connect startups with the largest investors ($$$$) network across the globe. That means access to the funds, for funding innovation.
Create sustainable ecosystems that fuel startups in underrepresented communities.
SMAART stands for ‘Startup Mentorship for African Americans Looking For Resources In Texas’https://www.smaartincubator.com/smaart/
An entry from Texas, USA, the Smaart Incubator grew from a desperate need of black entrepreneurs to be taken more seriously.
The diverse team of founders has put together some culturally relevant content for aspiring entrepreneurs to consume in the form of Podcasts (7 part series relating to Jay-Z’s business empire #blueprint) & an Online Class.
If you are in TX, USA
Check them out, also write us. Are the rumors true? Is everything truly bigger in Texas?
BIG INCUBATOR 2019
Big Incubator (BIG) by Digitalundivided is a 30 week startup incubator program for Women of Color.
Based on renowned Lean Startup (startup founders bible) methodology, BIG‘s curriculum develops founders from idea to viable firm.
Their taylored incubator includes a Confident FoundersTM program; developed to build founder confidence, & equip founders for their respective roles.
The belief system here is, a confident founder attracts: Customers & Investors.
This Program currently has two locations: Atlanta, GA & Newark, NJ
Applications for both Atlanta and Newark open on December 6, 2018 and close early February, 2019.
All the info needed to apply? Right Here
The mission was to provide a safe space for Entrepreneurs of the African Diaspora to be able to launch and grow their businesses as well as network and create partnerships with one another.
Black Dot provides shared & private work spaces for rent, events & workshops or simply to come hangout.
Founder support, mentorship, technical training, professional development, & a comprehensive launch curriculum for start-ups are the staples that make this space so valuable.
The brainchild of two Georgetown grads TK Petersen & Ryan Wilson, The gathering place is a new kind of “city club”
“We want to reimagine the city club experience for a new generation,”Ryan Wilson
The Gathering Spot is located in Atlanta, GA (with plans to open clubs in DC & LA in 2019) & has been in business since spring of 2016.
They boast over 1000 members with a waiting list to get in.
The space provides Negro founders access to diverse business & services (the fertile ground necessary for innovation), county commissioners are now working with digital advertising professionals on relevant campaign strategies.
I could spend a whole other blog for those who think that there is a level playing field when it comes to race here in the UK but let me keep it simple for this post.David McQueen
David McQueen takes inspiration from the renaissance in Black led films such as Hidden Figures, Moonlight, Girls Trip, Get Out and more recently Black Panther.
This inspiration coupled with the witnessing of Black founders struggle: to get cofounders, funding, and lack of a community that gets their point of view, so… He decided to start Legacy 71 a UK based incubator.
Their first step is to equity crowdfund the venture. This will then provide funding for the training, mentoring and support Black owned businesses tend to miss out on. The third stage is the creation of funds to grow and scale tried and tested business models into startups that will develop the culture.
We wish David the purest success in this endeavor; If you are a founder in the UK, reach out to David here.