Business Resources for Black Founders (Updated for 2021)

June 14, 2021

Entrepreneurship is for everyone.

That’s why we have put together a resource guide specifically geared toward helping our Black students & founders find the tools they need to better navigate the startup ecosystem. This guide will be updated regularly, if you know of any resources that could be of help to these founders, please share them here.

Get Connected and Develop Your Business

There are many incubators, accelerators, and communities dedicated to supporting Black founders. Below are some resources that can provide Black founders business development and leadership opportunities.

Communities/Resources

• Minority Business Development Agency
• Black Business and Professional Association
• Black Business Association
• National Black Chamber of Commerce
• Black and Brown Founders
• Black Connect
• Black Girl Ventures Connect
• Black Is Tech Conference

Accelerators/Bootcamps

• Code2040 Accelerator & Fellowship
• Future Founders Fellowship
• Future Founders Bootcamp
• Power Moves Accelerator & Bootcamp
• Tumml Startup Hub
• MVP Accelerator, Inc.
• DivInc Accelerator
• Black American Startup Resource List: 700+ Accelerators (Updated for 2021)

New Funding Opportunities for Black Founders

In 2020, Crunchbase reported that just 2.6% of the total $87.3 billion in venture capital funding went to Black and Latinx founders. In 2018, Equal Ventures partner Richard Kerby found that 81% of venture capital firms didn’t have a single Black investor. Many organizations and initiatives are fighting to normalize inclusion in the funding community. Here are some of them:

• Backstage Capital
• Founders First Capital Partners
• Harlem Capital
• Humble Venture Capital
• Kapor Capital
• Black Founder Startup Grant
• Impact America Fund
• Advancing Black Pathways at JPMorgan Chase & Co.
• Portfolia Rising America Fund
• Black Star Fund
• Talent x Opportunity Initiative

Enter a Pitch Competition

Another funding opportunity for founders is by entering in a pitch competition. Check out these competitions that focus on funding Black and minority led startups.

• Black Ambition Award
• Scale-Up Pitch Challenge – NBMBAA
• Black Girl Ventures Pitch Competition
• Kiwi Tech Minority Founders Online Demo Day

Take Care of Your Mental Health

During times like these, it is important that you make your mental health your number one priority. For founders, starting and managing a business can take a toll on your mental health. Use these resources and programs to maintain your mental health, which in return will benefit your business.

• Mental Health Issues Facing the Black Community: Update Article w/ Resources
• NAMI: National Alliance on Mental Health
• Boris Lawrence Henson Foundation: Directory of Mental Health Programs
• Mental Health Resources for Entrepreneurs
• Inner Workout: Wellness Services
• Fontenelle Art: A Mental Health and Creative Wellness Company – Using Art & Movement to Alleviate Stress
• Ayana Therapy for Marginalized Communities

If you or a loved one are in a crisis, click here for Ayana Therapy’s list of resources.

Read, Learn, and Engage

Actively reading books, magazines, and articles can help develop your strategy as a business owner. Check out these resources with readings and media curated specifically for Black founders.

• The Best Books for Entrepreneurs of Color
• Black Excellence Business Articles
• Black Enterprise: Business, Investing, and Wealth-Building Resource
• AfroTech: Online Resource and Conference
• People of Color in Tech
• The Plug: Black Tech Newsletter
• Black Business Journal
• Black Business News
• For Colored Girls Who Tech
• Acting Up – Janice Bryant Howroyd