💡✨Last week in Montgomery, Alabama, Impact Experience and Illumen Capital convened investors, founders, community leaders, artists, and entrepreneurs to discuss solutions for increasing access to capital for communities of color. Topics included historical barriers contributing to limited capital access, as well as strategies for creating a more inclusive business landscape, and addressing biases.
The backdrop and historical landscape of Montgomery, AL served as a perfect place to reflect on the challenges of BIPOC-led businesses. One of the central topics discussed was the harsh reality that access to capital remains an obstacle for BIPOC entrepreneurs, particularly Latino entrepreneurs. Latino entrepreneurs play a significant role in the U.S. economy, contributing over $3.2 Trillion U.S. Gross Domestic Product (GDP) through nearly 5 Million Latino-owned businesses with less than 2% of venture capital going to Latino entrepreneurs.
🌟We are grateful for the remarks of our guest provocateur, Arturo Cazares who highlighted these data points and the work of LBAN/Latino Business Action Network. Additional gratitude to guest musician, Eric Dozier and our community partners Michelle Browder, Mellissa Smith of Island Delight, and Teresa Jackson of J.W. Beverette who rounded out the experience.
🌟We also want to appreciate our participants for their contributions and commitments to continuously work to change the social and economic landscape of who manages and accesses capital. Here’s to Madeleine Evans, Marques Martin, Karlos Bledsoe, Danny Chan, CFA, Evelyn Kempi, Anuraag Singh Dalal, and Samuel Orley.
🙏Lastly, thank you to the Illumen Capital team: Daryn Dodson, Leila Mengesha, Joanna Kuang, Amani Ahmed, and Jeremy Sookhoo and our team at Impact Experience: Jenna Anita Nicholas, Olabayo Allen-Taylor, MBA, Yejide Olutosin, MBA, and Robin van der Vegt.