Statistically, NO (Meaning Zero) Black Women Have Raised Venture Funding: #ProjectDiane
At digitalundivided, we’re focused on BIG ideas with BIG impact…
Note there was a decimal error in the original report. Black women led companies venture deals comprised .2% of deals from 2012–2014, NOT .002%. Still closer to 0 than to 1
Next week, digitalundivided (DID) will release the much anticipated #ProjectDiane Report on Black Women and Tech Entrepreneurship (U.S.). DID spent the past 6 months analyzing data from the #ProjectDiane database, conducting interviews and analyzing larger startup databases (Crunchbase and Angellist) to produce a comprehensive picture of intersectionality in the world of startups.
It’s not a pretty picture…
DID found that even the WORST Startups led by White Males raise more than the Best Startups led by Black Women.
Only 11 Black women led startups have raised $1MM or more in outside funding since 2012. These companies are a part of the 24 (yes just 24) out of over 10,000 venture deals (.2% ) that went to companies led by Black Women Founders from 2012–2014. The average FAILED startup raises $1.3MM in venture funding (CB Insights).
While the numbers are striking, DID does present detailed solutions that everyone from policy makers to individuals to the tech industry itself can use to innovate inclusion and dramatically increase the number of Black Women Founders.