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No. of Black Women Tech Bosses On The Rise

According to a Study Those with $1MM in VC Funding Has Nearly Tripled

Tech Maven Kathryn Finney

According to a new study, The State of Black Women Founders, released by Kathryn Finney’s Project Diane this week, the number of black women who have received venture capital of more than $1 million for their tech companies has tripled since 2016, when Project Diane was launched.

In its first analysis of black women founders in tech, Project Diane showed that black women founders made up 0.2 percent of all VC funding for a total of 12. Today there are 34. And Finney, tech maven and founder of digitalundivided, an Atlanta-based accelerator for high-potential women entrepreneurs of color, can be credited with that increase.

According to ProjectDiane 2018, the amount raised by black women founders increased 500% from $50 million in 2016 to $250 million in 2017. The average amount raised by women founders is $42,000. There is certainly a lot more work to do as black women raised 0.0006 percent of all tech venture funding since 2009, the report found.

Despite the number of startups founded by black women nearly tripling since 2016, a majority of startups founded by black women still have not recieved any venture capital funding, according to the report.

Jameson Bennett is a Technologist, SiriusXM Producer & Cofounder for CEWEBITY & Party of Lincoln. Download the CEWEBITY app on iOS. Get Party Of Lincoln Flash Briefing on Amazon Alexa

 

 

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Jameson Bennett

Written by Jameson Bennett

A technologist, digital consultant and speaker. Jameson is cofounder of My THC Guide (CannaTech), CEWEBITY.com (Fintech) & Party of Lincoln App (Civic Tech). He creates digital platforms and produces radio for SiriusXM Urban View ch. 126. Born & raised in west end Louisville, Kentucky, Jameson has developed a versatile skill set that consists of eight years of professional experience in radio (Karen Hunter Show, Jamie Foxx), three years in television production (BET Networks) and two years in app development. Jameson completed his undergraduate degree at University of Louisville in 2009 & obtained his masters in Mass Communications from Morehead State University in 2010.

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