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).
Americans are expected to spend nearly $24 billion in 2022 for Valentine's Day, and many of those gifts will be in the form of chocolate. John Galloway, interim president of the Americas and CMO of Godiva, joined Cheddar's Opening Bell to discuss what chocolate trends the brand is seeing this year, plus the impact of inflation and supply chain issues on the industry.
New York City's famous subway system is currently facing scrutiny after several recent attacks on platforms. Now, local leaders in the Big Apple are calling on the MTA. To step in and take action.
New York City ride-hailing app drivers are about to get a pay raise. According to the city's Mayor Eric Adams, New York will increase its minimum driver pay rate for both Uber and Lyft drivers. This means both platforms would now be required to pay their drivers a minimum of $1.61 cents per mile and about 0.50 cents per minute. Ultimately, the move would give riders at least a 5.3% race. New York City Comptroller Brad Lander, joined Cheddar to discuss more.
Tensions in Ukraine continue to rise. According to NATO and U.S. officials, Russian troops are still being built up despite Moscow's claims of de-escalation. However, Ukraine does not believe the troops are enough to mount an invasion. The government in Kyiv has also reported several cyber attacks against its defense agencies and banks which is the largest attack in the country's history. Foreign Affairs Reporter based in Ukrain, Terrell Starr, joined Cheddar to discuss more
