Black female business owners receive almost NO funding from investors

[Hannibal XKeymaster 23 pts]

Black female business owners receive almost NO funding from investors
In “The Real Unicorns of Tech: Black Founders Women,” a recent report by #ProjectDiane, you’ll come across several startling statistics like, for example, of all venture deals from 2012 to 2014, only 0.2% (24 of 10,238 deals) went to went to black female founders.

In researching the state of black women in tech, #ProjectDiane examined over 60,000 startups and identified just 88 led by black women. Though, the bigger pictures shows that there’s been a 322% increase in the number of black female-led businesses since 1997. Today, there are over 1.5 million businesses ran by black women in the U.S. — over 100,000 of which are technical companies. Though, a lot of those companies are consultancies.

On average, black female-led startups raise just $36,000 of outside funding, according to the report. There are only 11 startups founded by black women that have raised more than $1 million in VC funding.

“digitalundivided conducted this research in order to quantify the problem and then use the results to as the foundation to building evidence based programs,” Darlene Gillard, partnership director at digitalundivided said. “Prior to this report there was really no discussion on intersectionality in the startup world, outside conversations about employment. The information on Black women and tech entrepreneurship was purely anecdotal. So we would say it was “bad”, what was exactly did that mean? Now that the information is out there, and we decided to release it even though we could have kept it to ourselves, organizations can make decisions on whether or not to move forward. But, no one can say they didn’t know there was a problem.”

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