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Black Innovators and Entrepreneurship

Posted by: Thom Ruhe on May 19, 2011 Source: e360 Blog

This post is being shared with permission from the author, Faye Anderson, public policy consultant who focuses on the intersection of social media and social change.  

As per Faye … earlier this week, I launched “The Innovators” on Kickstarter, a crowd-funding website.

The idea to tell the underreported story of entrepreneurial black innovators was sparked by a comment Startup America Partnership CEO Scott Case made during a webinar moderated by Lesa Mitchell.

In response to a question about women entrepreneurs’ lack of access to venture capital, Case said women and minority entrepreneurs face a similar challenge -- “they’re not visible to us.” He added: “We need to celebrate entrepreneurship in this country and profile those amazing people to create the level of inspiration that will allow people to step up.”

While Case’s response was unsettling, his candor was refreshing. Like it or not, people do business with people they know. Venture capitalists will not be inspired to step up and invest in people they don’t know.

To be sure, access to VC funding is challenging for all entrepreneurs. African American founders face an additional hurdle given they typically do not work or live in Silicon Valley or other technology hubs.

“The Innovators” will not be another boring documentary that’s merely formatted for the iPad 2. Instead, we will use innovative web-based video tools to share real-time data about black founders. Viewers will be able to access entrepreneurs’ data from across the social web, including their tweets, LinkedIn profile, Facebook page and website.

Through interactive storytelling, venture capitalists and other investors will get to know those amazing people. With your support, we will show the changing face of innovators. So please go to Kickstarter and kick in what you can.

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15 Comments

RE: Black Innovators and Entrepreneurship
May 19, 2011 @ 01:07 PM
William @ DreamIt said...
Such a timely post! In response to this very issue, DreamIt Ventures in Philadelphia and Comcast announced a Minority Entrepreneur Accelerator Program today. DreamIt's site (http://dreamitventures.com/about/Comcast-MEAP.php) has the details as does TechCrunch and other outlets.

Check it out!!
RE: Black Innovators and Entrepreneurship
May 19, 2011 @ 01:38 PM
Ron said...
Great news. Congratulations on starting such a great venture. Faye is a great leader and really respected.
RE: Black Innovators and Entrepreneurship
June 02, 2011 @ 06:13 AM
tashmi islam said...
Great news. Congratulations on starting such a great venture. Faye is a great leader and really respected.
RE: Black Innovators and Entrepreneurship
June 17, 2011 @ 03:22 AM
mashilo said...
In the states it is the minority who are underprivileged and in South Africa it is the majority of the population who were previously disadvantaged due to apartheid and they are still not being economically involved due to the scarcity of business incubators locally. Even venture capital firms are reluctant to invest in black entrepreneurs because they do not believe that a young black child can be innovative.But entrepreneurship hubs like innovation by design are leading the pack in developing broad-based black economic empowerment.
RE: Black Innovators and Entrepreneurship
August 19, 2011 @ 11:54 AM
atlas said...
While Case’s response was unsettling, his candor was refreshing. Like it or not, people do business with people they know.
RE: Black Innovators and Entrepreneurship
September 06, 2011 @ 03:48 AM
John said...
One of the things we can do is to celebrate entrepreneurship of all shapes and sizes. And one of the challenges we have in the United States is that we have fantastic women entrepreneurs. Right, unbelievable. We also have unbelievable African American entrepreneurs. We have unbelievable Hispanic entrepreneurs. We have unbelievable Asian American entrepreneurs.

The challenge is that they’re not visible to us. They might be visible in their own communities. Maybe they got an entrepreneur of the year award from Ernst & Young. But we need to celebrate entrepreneurship in this country and to profile those amazing people to create the level of inspiration that will allow people to step up.
RE: Black Innovators and Entrepreneurship
September 06, 2011 @ 11:29 AM
Jen said...
In Durham, black entrepreneurs succeeded in manufacturing as well as in service industries, including one of the city’s largest brick-producing companies. Here, the white community was not hostile to black success, and white capitalists such as Washington Duke (the tobacco magnate for whom Duke University is named) and Julian Carr were helpful in the establishment of black businesses. In 1898, John Merrick and Dr. Aaron McDuffie Moore established the North Carolina Mutual Life Insurance Company, one of the largest and most successful black enterprises in the history of American capitalism, a firm that 100 years later would employ over 1,000 individuals and boast assets exceeding $200 million. In addition to 150 thriving businesses, Durham’s black commercial district was home to an area internationally known as the “Negro Wall Street,” a collection of banks and insurance companies that represented “one of the most dramatic examples of concentrated African-American financial might Twilight this country has ever produced.” These financial institutions were so sound that they helped virtually every black business in Durham survive the Depression.
RE: Black Innovators and Entrepreneurship
April 11, 2012 @ 02:16 AM
Sarah said...
Great job Thom!!!It's really nice article.Hopefully you will continue for the future.
RE: Black Innovators and Entrepreneurship
April 20, 2012 @ 04:40 PM
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RE: Black Innovators and Entrepreneurship
August 03, 2012 @ 01:28 AM
Exchanger107 said...
Actually being an enterpenuer is not an easy task. My Wife and I are maintaining a small business and we know how much hassle we have to face in day to day life.
But I can't agree with her that We make business with them who we know.
At the first time i also did it but Not now. Now I avoid known people to work with me. Cause they are like Hydrogen Bomb. you can't tell them anything.
RE: Black Innovators and Entrepreneurship
October 01, 2012 @ 03:58 AM
Pilot said...
Agreed with everything!
RE: Black Innovators and Entrepreneurship
October 05, 2012 @ 10:26 AM
Seokik said...
I would like to thank you for the efforts you have put in writing this blog. I am hoping the same high-grade blog post from you in the future as well. In fact your creative writing skills have inspired me
RE: Black Innovators and Entrepreneurship
December 12, 2012 @ 12:46 AM
How to Make Money said...
Great News! Nice Article.
RE: Black Innovators and Entrepreneurship
January 12, 2013 @ 12:11 AM
Edollarearn said...
great share thanks
RE: Black Innovators and Entrepreneurship
April 20, 2013 @ 02:50 AM
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