The Black Founders mission is to increase the number of successful black entrepreneurs in technology.
The goal of our organization is to create an ecosystem that stimulates entrepreneurship and fosters economic growth in the community.
In 2010, the black demographic entered entrepreneurship at a rate of 0.24% and comprised 9% of the total new entrepreneurship activity in the US. (source: Kauffman Foundation)
Black entrepreneurs, however, remain underrepresented in the tech entrepreneurship space. Black entrepreneurs make up only 1% of VC-backed tech startup founders and during the period measured from January to June 2010, the median amount of funding secured by an all-black founding team was $1.3 million, compared to $2.2M for a racially mixed team, and $2.3M for an all-white team. (source: CB Insights)
The founding team of Black Founders is made up of four entrepreneurial friends who met in San Francisco and wanted to create an organization that would empower entrepreneurs and provide founders with access to advice, mentorship, and funding. Our vision for Black Founders is to develop programs that equip entrepreneurs, inspire innovation, and allow us to share resources and knowledge.