Black Startup

Founders Nathan Bennett-Fleming, Olugbolahan Adewumi, Aaron O. Brien, Kyle Yeldell, andChristopher Hollins are determined to close the “Black startup gap,” as they call it, by attempting to fix the root cause: lack of capital.

“I think it is important that we encourage non-profits and social enterprises to raise resources on our platform to address social problems facing the African-American community,” BlackStartup CEO Nathan Bennett-Fleming told NewsOne.

BlackStartup takes a standard approach to crowdfunding: Each project featured on the platform is accompanied with  a project description, specific goals, and a background on the founders. And similar to other sites, participants only receive the money if they reach their complete goal. ”There is no specific type of businesses that we are attempting to promote. We want to support projects, ideas, and causes that are broadly connected to the African-American community,” said Bennett-Fleming.

The site’s Monday launch premiered with seven projects, including a math curriculum taught through playing the piano, a family business that makes homemade hair products, and a website featuring social commentary on daily news.

The Washington, D.C.-based company has had no problem gaining praise and capital, with the site snagging the coveted Yale Entrepreneur Institute’s Fellowship, which doles out $20,000 in capital seed money, an elite mentor, and a 10-week boot camp in New Haven, Ct. More Information

BlackStartup


Black Crowdfunding