There’s no shortage of articles and thought pieces on how tough it is to be a Black founder in America right now. Capital flows remain abysmally low for us: in 2022, only 1% of the $215.9 billion raised in US venture capital deals went to Black founders. Black (and Latinx) communities remain significantly underrepresented in the founder community, but 1% of funding is still a deeply inequitable proportion given that roughly 6% of US founders are Black.
Despite so many discouraging indicators, it seems like young people are increasingly turning to entrepreneurship as a path to wealth creation. 9.3% of Black professionals in the venture ecosystem aged 21-30 are founders, a higher proportion than in any other age range. While it is undeniably difficult to be a Black founder, that doesn’t seem to be deterring the next generation of innovators.
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