How Black Women Can Compete in the Boys' Club of Tech
*By Madison Alworth*
Minorities are often underserved when it comes to the VC funding space, but one social enterprise group has ambitions to change that.
"Innovation happens everywhere, in every community, in every gender, in every race, every class," Kathryn Finnerty founder of digitalundivided, said Thursday in an interview with Cheddar.
But less than 1 percent of American venture capital-backed founders in 2016 were black, according to the Center for Global Policy Solutions.
Part of the problem is that people in minority communities just don't have access to the right investors.
"The average person doesn't know a VC and probably doesn't know how to actually connect, and that's one of the things we do at digitalundivided," Finnerty said.
The group is committed to changing the narrative by guiding talented black and Latina women founders through the start-up process in a 9-month incubator program. digitalundivded's work starts at the beginning and helps innovators navigate the complex planning and funding ecosystem.
Finnerty is optimistic she'll be able to effect change. According to her company's estimates, the number of start-ups founded by black women has more than doubled since 2016. And support seems to be following.
"There has been increased attention on this problem," Finnerty said. "There has been increased investment in the space, as well."
[Applications](https://www.digitalundivided.com/big-incubator-general-faq/) for the 2019 digitalundivided incubator program open on December 6.
For full interview [click here](https://cheddar.com/videos/encouraging-and-enabling-female-entrepreneurs-of-color-to-succeed).
The holiday weekend saw Disney+ and Netflix competing head-to-head for streaming views as the Disney behemoth kicked off the unofficial start to summer with its release of "Obi-Wan Kenobi" and Netflix responded with the first part of "Stranger Things" Season 4. The streaming giants caught the eye of Wall Street, and Seth Schachner, the managing director at consultancy Strat Americas, joined Cheddar News to break down the heavy hitters. "This is a very tough, competitive game, and I don't see it getting any easier," he said. "I think you'll probably see more consolidation."
The founder and president of Cyborg Mobile Kobie Hatcher has been on a strong trajectory to disrupt his industry with a program called The New Technologists. It's not only meant to address the diversity gap within large tech companies but also help pave the way to transform the lives of young BIPOC students. He joined Cheddar News to talk about how he's working to make a difference with the lack of diversity in tech. “There's truly no lack of talent out there. It's just identifying them and letting them know that, hey, I've been in the tech sector for over 20 years. I see you. I know what you can bring, bring it, we need it," Hatcher said.
Catching you up on the entertainment headlines of the day with "Top Gun: Maverick" soaring up to a record opening at $160.5M, Harry Styles also hitting number one on Billboard with "Harry's House," Netflix released images of Bradley Cooper as Leonard Bernstein in "Maestro," and more.
Constituent service platform Indigov recently raised $25 million in a Series B funding round. Indigov bills itself as a constituent relationship management tool that helps elected officials improve the way they organize, respond to, and engage those they serve. The startup's services are being used by federal, state, and local governments across the country, including the U.S. House of Representatives. Alex Kouts, founder & CEO of Indigov, joins Cheddar News' Closing Bell to discuss.
The 2022 NBA playoffs are intensifying as four teams vie for an NBA finals berth. Tonight, Stephen Curry and the Golden State Warriors can book their finals ticket with a win over the Dallas Mavericks, while Miami will be feeling the 'heat' tomorrow night, facing elimination against the Boston Celtics.
And with the growing popularity of sports betting, the NBA playoffs offers a potential money-making opportunity for fans. Trysta Krick, host of BetMGM Tonight, joins Cheddar News' Closing Bell to discuss.
As the holiday weekend arrives, travelers are bracing themselves for higher gas prices amid the inflation surge, but Robert Sinclair, AAA spokesperson, joined Cheddar News to discuss how the higher costs likely won't hold people back this Memorial Day Weekend. “We're near pre-pandemic levels. Nearly 40 million people are traveling. And of that total, about 35 million will be driving to their destinations," he said.
Terry Dunn Meurer, executive producer of the 'Unsolved Mysteries' podcast, joins Cheddar News to discuss the new season and why people are obsessed with true crime.
Catching you up on the entertainment headlines of the day with "Top Gun: Maverick" making $19.3M in previews, BTS heading to the White House, and "Ozark” reclaiming the throne as number one in the Nielsen streaming ratings.