Talent is evenly distributed, but opportunity is not.
Although African-Americans comprise 13.4% of the US population, just 1% of start-ups receiving venture funding have Black founders.
While entrepreneurship is one of the most impactful ways to move communities and the country forward, the pipeline of funded entrepreneurs does not reflect the diversity of our country.
And since the focus of funded start-ups tends to reflect the experience of their founders, lack of representation means blindspots in innovation. Critical, solvable problems go unaddressed. Concurrently, funding often flows in favor of ideas for businesses in saturated markets with less potential for impact and scale.
Solving this problem will take deep dedication across the start-up, tech, and venture capital world.
As one small part of this, the Elevate Black Entrepreneurs Scholarship will be awarded to a Black undergraduate or graduate school entrepreneur who is currently building or who aspires to build a new business.
Current or aspiring Black entrepreneurs across any field or business stage will be considered.
Winners will be selected on the merit of their business idea, and on the impact that additional support would have for them.