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The Moguldom Nation

In Press

13 Black Tech Entrepreneurs Who Chose To Not Let Their Ideas Lie Dormant And Haunt Them

Forget focusing on killer zombies and jack-o’-lanterns this Halloween. Let’s focus on the scary things Black tech entrepreneurs must overcome to build and operate killer companies.  We spoke with 13 Black tech entrepreneurs who decided to not let their ideas lie dormant and haunt them. These 13 founders chose to persevere through the fears to disrupt their industries.  

 

 

The statistics and information we highlight here provide some support for the things these Black tech entrepreneurs listed as the scary parts of launching and running a startup as well as a few calming numbers.

Sure, there is the thrilling part of building something with your own hands and seeing the market take to it, but there are times when an entrepreneur has to address mental and physical hindrances to keep their dreams alive.

We thank these founders for being transparent. Their shared confessions are a testament to their ability to overcome their fears. They are all leaders, innovators, and champions in their respective fields.

 

Doubt

“Other people’s doubts are scary. As we watch the debacle of for-profit companies not making a profit (WeWork, Uber, Lyft, and etc.), we (minority and women tech founders) are being penalized and left to starve because investors don’t want to invest in an unprofitable tech company. Minority women founders are stereotypically given fewer opportunities for success, less money, but are treated as we though we caused the problem.” – Brooke Sinclair, Velour Imports.

There is a graveyard of “unicorns” and the products they created — 56 percent of unicorns are overvalued. It’s too early to know the consequences of WeWork and others failing. However, the lack of support for minority women is frightening. Minority founders are still suffering. Crunchbase reported earlier this year that 1 percent of 10,000 venture-backed founders polled were Black. Brooke’s doubts about investors funding without bias are well founded.

 

Written by Ebony Grimsley-Vaz | Oct 2019

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