When it comes to having a seat at the table, nowadays the Black community isn’t just bringing a seat but building their own tables when it comes to making sure Black women have the same access to venture funding.
In a recent interview with Forbes, Michelle Ebanks, Essence Communications Inc.’s president, spoke about the biases many Black women entrepreneurs face and how that needs to change.
“There are many institutional biases that women of color face. When we think of an entrepreneur or someone who’s successful and powerful, we don’t often envision a woman of color. That inherent bias really creates critical hurdles,” says Ebanks.
In addition to ESSENCE being at the forefront of everything pertaining to Black women, ESSENCE Ventures CEO, Richelieu Dennis, is putting his money where his mouth is, when it comes to investing in black women, with the creation of the $100 million New Voices Fund.
“Women of color are the fastest growing group of entrepreneurs but they only receive 0.2% of funding, we have a terrific opportunity to change that, ” says Ebanks.
Read more at Forbes.