While there are a growing number of Black and Latinx women-led startups crossing the $1MM threshold, the majority of Black and Latinx women–led startups raise significantly less than the average funded startup. For those who have not raised over $1MM, the median seed round raised by Black women founders is $125,000 and the median seed round raised by Latinx women founders is $200,000. As of 2020, the national median seed round funding for a startup is $2.5M.
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It’s not the overtly racist or bigoted people who openly seek to oppress others that are the biggest problem. Polite society finds them and over time roots them out. It’s the well-intentioned people who say that they care about diversity and inclusion, fairness, equity and equality but who are not active in and mindful about changing “business as usual” who are the real problem. Those who talk about the right thing yet do little to effect change. Those who allow the wrong thing to continue to happen. We all know that the status quo isn't good enough. What are we going to do to change it?
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Just because you aren't an angel or VC investor doesn't mean you can't help us address the access to capital challenge experienced by so many Women of Color entrepreneurs. Using your professional skills, you can help a Woman of Color entrepreneur grow, scale and get to the next level.
Thank You to Our WOCCON 2021 Sponsors:
Women of Color Connecting Leadership Council
Avis Yates Rivers
Monica Slater Stokes
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Women of Color Connecting builds a bridge between Women of Color entrepreneurs and those in positions to open doors. We call on our allies in the entrepreneurial ecosystem to stand with us and more importantly to stand in for us. Together we can make a difference.