Thats a loaded question, because there are various reasons.
Still, data shows Black entrepreneurship is on the rise.
Once there, they also lack the same access to capital as white entrepreneurs.
WOCinTech / flickr
“Black founders are not getting as much VC money because they lack the social capital.
“We have seen Black founders with more traction get less money than white founders with less traction.”
Reversing this trend must start with uprooting the tech ecosystem as a whole, she said.
1863 Ventures
Johnson’s company operates an online service that delivers food-and-drink kits to groups for in-person or virtual happy hours.
When Johnson started her company, she targeted busy business professionals from all walks of life.
This made her feel uncomfortable, since she suspected her white counterparts werent being asked the same questions.
“People really need to stop that.
Black people can and do build products for broad-based audiences and customers.”
This is the stark reality for many Black tech founders, whether pitching to potential clients or investors.
The Kedar Group
This experience is like a never-ending domino effect, Johnson describes.
“The truth is, and the stats are there,most venture-backed startups fail.
Not a slight majority, a large majority.
With this in mind I would say that the laziness becomes even more evident,” he said.
“Traditionally VCs invest in industries, markets, and communities they understand.
Mutschler has been a long-time advocate for entrepreneurs of color.
“Theres a lot to be said about cutting checks to minority founders.
…many potential Black tech founders may not even know how to get started with a tech product.
I spend as much time investing my energy and support in minority tech founders.
“We have so much work to do to truly attract Black tech founders,” he said.
