Disparities in educational, career and commercial opportunities among poor communities persist due to structural inequities that we can easily identify.
The purpose behind this commitment is to tackle some of these inequities with the overall goal of increasing diversity in tech, particularly among Black and Latinx founders who struggle more than all other groups to obtain startup capital and other business resources.
The reason is simple. Globalism has created an undeniable struggle for “mom n pop” retailers. The evaporation of manufacturing, coupled with the proliferation of Wallstreet funded retailers has syphoned the economic strength away from these communities. The added fact that Black and Brown founders only account for less than 1% of venture-backed startups means that these communities are also starved from lack of investment capital.
The most passionate and capable champions of any community are those with a connection to the community, educational background, and solid support structures. When founders come from these communities, they are the ones who are most vested and likely to create jobs and bring about economic change.
Our strategy is to promote the creation of a multiplier effect within the community, allowing capital to circulate more throughout the community. This will not only create a healthier community but provide structural support for the real estate tax base which feeds into the school district funding. Increased school funding means more well-educated and prepared community members. These are the fruits of the plan who will be able to repeat the cycle of innovation and entrepreneurship to grow the community wide economic base.
Cointinuum BRX commits that by Q3 2022, we will have launched two data room sites in under-served communities, with adjacent business incubator and technical training centers. The purpose behind this commitment is the overall goal of increasing diversity in tech, particularly among Black and Latinx founders who struggle more than all other groups to obtain startup capital and other business resources.
How we track our progress in reaching this goal will be through the use of a project road map, which is comprised of 4 basic steps; Pre-acquisition, Acquisition, Site/Program Development, and Program Implementation. Each of these steps contain smaller sub-steps which we can track internally to determine our alignment with both the timeline and goal.
Recognizing it will take alignment of all our organizations to scale impact globally, we invite you to join the movement as a Steward of Inclusive Capitalism. Together, the collective action of Council members will contribute to a fairer, more inclusive and sustainable future for all people and our planet.