The Plug Insights

The Plug Insights Black tech ecosystems are shaping the future of business around the globe.

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KEY INSIGHTS:✅ Research firm Creative Investment Research launched an impact investing vehicle calling on the Federal Re...
10/28/2022

KEY INSIGHTS:

✅ Research firm Creative Investment Research launched an impact investing vehicle calling on the Federal Reserve to create a funding facility to reduce Black maternal mortality.

✅ Almost $35 million in venture capital funding has gone to Black women-founded maternal health startups, but the number is negligible compared to investment in overall healthcare technology.

✅ Maternal healthcare startups like Wolomi, which do not have VC backing, are underfunded but still leading the charge to improve the pregnancy journey for Black and brown birthing people.

&

KEY INSIGHTS: Research firm Creative Investment Research launched an impact investing vehicle calling on the Federal Reserve to create a funding facility to

Breaking News...Resilia Raises $35MM Series B, Sets Sights on Vertical Integration to Further Technical Support For Nonp...
10/27/2022

Breaking News...
Resilia Raises $35MM Series B, Sets Sights on Vertical Integration to Further Technical Support For Nonprofits

Today, grants management and capacity-building software platform Resilia announced its latest round of funding to the tune of $35 million dollars. Last year, the company picked up $8MM in Series A funding, going on to stretch its 28-person headcount to well over 100 employees operating in New Orleans, New York City and Mexico City.

The round was co-led by Panoramic Ventures and Framework Venture Partners. Returning investors include Mucker Capital, Callais Capital, Cultivation Capital, Engage Ventures, SoftBank Group’s SB Opportunity Fund, Kimble Ventures, The Jump Fund and Fearless Fund. New investors include Goldman Sachs Asset Management Fund, Chloe Capital, Gaingels, Mana Ventures and others.

Resilia will add more vertical payments solutions for nonprofit customersClick Here for Details

Founders Are Creating Platforms to Bridge the Gender Gap in Financial Investing ...Kendra Cole, the co-founder of The Cr...
10/25/2022

Founders Are Creating Platforms to Bridge the Gender Gap in Financial Investing ...

Kendra Cole, the co-founder of The CryptoMom App, an investment management platform that aims to make crypto investing more accessible to women and moms, is working to transform this curiosity into action.

When she tried to purchase her first cryptocurrency in 2020, Cole struggled to even get on the exchange because of the name verification process. She has used her maiden name, her husband’s surname as well as a hyphenation of both for different accounts. Her best friend had the same challenge.

The platform includes three services: users can buy Bitcoin, allocate it to tax and non-tax-advantaged accounts like 529 education plans, and can gift crypto for special occasions such as baby showers or graduations.

KEY INSIGHTS: The CryptoMom App, an investment management platform for women, aims to close the gender divide in cryptocurrency.Women only comprise 32 percen

DATABASE: Where Accelerators that Support Black Founders are LocatedStartup accelerators are a tool for founders and ent...
10/21/2022

DATABASE: Where Accelerators that Support Black Founders are Located

Startup accelerators are a tool for founders and entrepreneurs to gain access to mentorship, capital and connections. There is no shortage of programs, so identifying the right accelerator for you and your business is critical.

Some of those accelerators include:
1. OHUB in Atlanta offers several programs, including a “social good” tech accelerator designed to support diverse, early-stage software companies.
2. Northwestern Mutual Black Founder Accelerator in Milwaukee invests in up to 10 high-growth startups founded by Black entrepreneurs per year.
3. Lightship Bootcamp in Cincinnati, formerly known as the NewME accelerator, is a free program for entrepreneurs of color. It was acquired by Lighthouse, a Cincinnati-based portfolio service firm, in 2019.
4. ACT House in Tulsa has funded 17 Black and Latino-led startups and takes no equity stake in the investments.


Startup accelerators are a tool for founders and entrepreneurs to gain access to mentorship, capital and connections. There is no shortage of programs, so ident

Morehouse Announces New Center to Diversify Tech Industry Backed by Major Tech Companies, National Science Foundation......
10/21/2022

Morehouse Announces New Center to Diversify Tech Industry Backed by Major Tech Companies, National Science Foundation...

On Wednesday, Morehouse College President David Thomas proudly announced that the school was launching the Center for Broadening Participation in Computing (CBPC), a first-of-its-kind center at an HBCU that aims to increase the diversity of the technology industry.

This new center is the brainchild of Kinnis Gosha, a Morehouse professor who has mentored many Black undergraduates that have gone on to receive computer science PhDs. Through the CBPC, Gosha hopes to scale the impact he can have beyond just Morehouse students.

KEY INSIGHTS: The new Center for Broadening Participation in Computing aims to increase tech’s diversity.The head of the center is Kinnis Gosha, a Morehous

Mentorship Program in Philly Is Working to Make The Entrepreneurial Journey Less Lonely...Behind a successful entreprene...
10/18/2022

Mentorship Program in Philly Is Working to Make The Entrepreneurial Journey Less Lonely...

Behind a successful entrepreneur is often another seasoned entrepreneur that has served as a guide. In Philadelphia, industry leaders are putting this into practice through a mentorship program for the city’s founder ecosystem.

Ben Franklin Technology Partners and Philadelphia Alliance for Capital and Technologies (PACT) have joined forces to create Mentor Connect, a program that partners entrepreneurs with teams of three to five mentors who provide advice and guidance.

The program, which started with a handful of mentees, is now entering its seventh year and serves over 200 entrepreneurs in the Philadelphia area. Mentees range from recent college graduates to seasoned executives starting their first startup.

For full story at https://tpinsights.com/mentorship-program-in-philly-is-working-to-make-the-entrepreneurial-journey-less-lonely/

KEY INSIGHTS: Housing and Urban Development Secretary Marcia Fudge met with leaders from Atlanta HBCUs to discuss ways the federal government can help addres

KEY INSIGHTS:- Housing and Urban Development Secretary Marcia Fudge met with leaders from Atlanta HBCUs to discuss ways ...
10/14/2022

KEY INSIGHTS:

- Housing and Urban Development Secretary Marcia Fudge met with leaders from Atlanta HBCUs to discuss ways the federal government can help address housing issues that have plagued HBCUs.

- One year ago this month, Howard University students staged a month-long occupation of a student center to protest what they said were unsafe living conditions.

KEY INSIGHTS: Housing and Urban Development Secretary Marcia Fudge met with leaders from Atlanta HBCUs to discuss ways the federal government can help addres

How Building a Business is Art: Artist Collectives are Making Spaces for Creatives in PhillyBlack founders are leading s...
10/13/2022

How Building a Business is Art: Artist Collectives are Making Spaces for Creatives in Philly

Black founders are leading spaces in Philadelphia’s creative scene and it has not gone unnoticed: REC Philly, which describes itself as a part creative incubator and part creative agency recently secured a $2 million investment from rapper Sean “Diddy” Combs to open another hub in Miami early next year.

Business and life partners YaYa Horne and Damion Ward started Tiny Room for Elephants in an underground warehouse recording artists at work as a way to “document the culture.” Now, they operate as a network of creatives that fuse art and music to create unique experiences for artists, brands and consumers, inviting the public to watch the art process as it happens.

Calan Malyn, the founder of entertainment company 69&Sunny, which amplifies contemporary artists, writers and thinkers, started the company in 2018 in Philadelphia.

Similar to the concept at REC Philly, Tahron Bryant opened Kreate Hub, a workspace for emerging artists, makers, technologists and entrepreneurs, in Philly in 2020.

KEY INSIGHTS: Philadelphia-based REC Philly is expanding its creative incubator space to Miami with a recent $2 million investment from Diddy.Tiny Room for E

Black Economic Alliance Foundation Receives $10 Million from Deloitte to Close Racial Economic Disparities...The Black E...
10/11/2022

Black Economic Alliance Foundation Receives $10 Million from Deloitte to Close Racial Economic Disparities...

The Black Economic Alliance (BEA) Foundation, a nonprofit organization that supports Black economic mobility, announced this month a $10 million commitment from consulting firm Deloitte to promote financial inclusion.

The $10 million will be distributed over five years and also includes pro bono assistance from Deloitte. This year, the grant will be used to facilitate surveys, focus groups and polling of the Black community about their perspectives on the opportunities and barriers to building economic prosperity and generational wealth.

For full story at https://lnkd.in/gD9mnXQU

KEY INSIGHTS: Deloitte has committed $10 million to the Black Economic Alliance Foundation to support its efforts to improve work, wages and wealth for Black

From the HBCU Newsletter: PROPEL Center makes major new announcement...Now, more than two years after launching, the PRO...
10/07/2022

From the HBCU Newsletter: PROPEL Center makes major new announcement...

Now, more than two years after launching, the PROPEL Center officially has a site for its future home: 635 Atlanta Student Movement Blvd. The 5.2-acre site is owned by Clark Atlanta University and the school has entered a long-term leasing agreement with PROPEL.

PROPEL aims to support the entire HBCU community through its programming, and its vision for the center echoes that.

“Conceived to provide innovative curricula, work-based learning experiences, advanced technology support and unprecedented career and leadership opportunities, the hub will further work to deliver an array of strategic resources, preparation and industry access across the Black collegiate community to support their work in producing the next generation of scholars who will champion equity, justice and entrepreneurship,” the announcement said.

There will be different curricula for agricultural tech, augmented reality, social justice, health, arts & entertainment, and hospitality, and energy, along with career preparation and entrepreneurship tracks, which lines up with the types of research grants and events PROPEL has created over the past two years.

Adapted from this week’s HBCU newsletter. Subscribe now to make sure you don’t miss the next issue. If you have been following this newsletter for some

KEY INSIGHTS- While femtech funding is on the rise, reaching $1 billion in 2021, SheMatters founder said raising for her...
10/06/2022

KEY INSIGHTS

- While femtech funding is on the rise, reaching $1 billion in 2021, SheMatters founder said raising for her health platform to support Black mothers was still a struggle.

- Kapor Capital and Fearless Fund have invested in Black maternal health companies like Cayaba Care and Villie.

KEY INSIGHTS While femtech funding is on the rise, reaching $1 billion in 2021, SheMatters founder said raising for her health platform to support Black moth

KEY INSIGHTS- Melalogic uses AI datasets to diagnose Black skin conditions which are not often depicted in dermatology t...
10/04/2022

KEY INSIGHTS

- Melalogic uses AI datasets to diagnose Black skin conditions which are not often depicted in dermatology textbooks.

- Mbaza is an AI chatbot developed in Rwanda to give people COVID-19 information by translating speech in Kinyarwanda, English and French.

- HUED, a platform connecting Black and Latino patients with culturally competent providers, also focuses on eliminating skin health and dermatology bias.

KEY INSIGHTS Melalogic uses AI datasets to diagnose Black skin conditions which are not often depicted in dermatology textbooks. Mbaza is an AI chatbot

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