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Hannibal X 8 years, 2 months ago.
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Black women are the fastest-growing group of entrepreneurs in the U.S.
Black women are the fastest-growing group of entrepreneurs in the U.S. They own 1.5 million businesses between them, up 322% since 1997. Their companies generate $44 billion a year.
So why is no one investing in their startups? Why have black women received only .2% of all venture funding in the past five years?
That was what Kathryn Finney set out to uncover when she launched Project Diane, a definitive study of the state of black women in tech entrepreneurship that took the better part of a year to complete.
“We knew it was bad, but no one was quantifying it,” said Finney, founder of Digital Undivided, a social enterprise that runs an accelerator program for startups led by black and Latina women. “It was just, ‘there are no black people, there are no black women.’ Anecdotally, we knew it to be true.”
What she and her team found, after examining more than 60,000 startups: 88, total, led by black women. That’s 0.04% of the 2,200 women-led tech startups in the U.S.
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