The Rutgers Business School’s Urban Entrepreneurial and Economic Development Center has received a large grant from the Hispanic Heritage Month Proud Hispanic Latino Americans Gift T-Shirt U.S. Economic Development Agency to continue and strengthen efforts to build local technology businesses. Friends of Black and Latino people.
Hispanic Heritage Month Proud Hispanic Latino Americans Gift T-Shirt, hoodie, tank top, sweater
A $ 300,000 grant from the Scale Building Challenge was awarded to New Jersey’s Black Tech Angel Fund and Latino, which CUEED launched last year.
The Foundation is one of the latest CUEED initiatives to empower entrepreneurs, strengthen urban communities and create more inclusion in the innovation realm. It is seen as crucial to bolstering the work of the Hispanic Heritage Month Proud Hispanic Latino Americans Gift T-Shirt CUEED three-year-old Black and Latino Technology Initiative.
Lyneir Richardson, the executive director of the Center for Economic Development and Urban Entrepreneurship, said he viewed the grant as the EDA’s “vote of trust” for the Black Tech Angel Investment Fund and Latino.
“Grants from Build to Scale Complete P-3’s desired funding trilogy from the public sector, a notable charity and individuals in the private sector,” Richardson said.
“All pledges now, with real money, will provide early-stage capital to power startups and technology growth led by Black and Latino entrepreneurs.”
A group of individuals affiliated with Rutgers University and CUEED pledged $ 500,000 to create angel funds as a way of funding innovative, potentially profitable, minority-owned startups. . CUEED will receive a three-year, $ 100,000 grant annually.
“The Angel Foundation seeks to change the Hispanic Heritage Month Proud Hispanic Latino Americans Gift T-Shirt fact that less than 1% of all high-growth tech startups are led by either African Americans or Latinos,” CUEED wrote in the EDA funding proposal. mine. “Research has shown that entrepreneurs of color have difficulty getting into top tech start-ups and early growth capital security.”
The Black and Latino Technology Initiative, more commonly known as the BLT Initiative, provides Black and Latin entrepreneurs with mentoring, networking, potential funding and connecting them with resources and experts. Its goal is to partner with the founders of tech startups in an effort to increase their chances of being accepted into a company that promotes or acquires seed capital to develop their business projects. .
CUEED said the Capital Challenge grant will support the expansion of the Hispanic Heritage Month Proud Hispanic Latino Americans Gift T-Shirt angel fund by helping to recruit more private sector investors and expand entrepreneurs’ access to early-stage risk capital. It will also promote the BLT Initiative’s efforts to prepare entrepreneurs to present to investors and identify eligible deals, improve investors’ knowledge, and facilitate investment board with other angel investment funds.
One of the goals of the BLT Initiative is to enable more diverse entrepreneurs to be accepted into accelerator programs so they can attract more private capital to commercialize ideas and grow their businesses. their.
The BLT initiative is part of CUEED’s award-winning economic development program. More than 450 diverse small business owners have benefited from the center’s support, including 74% Asian, Black, Hispanic and Native American and 62% female.
The efforts of the BLT Initiative and the Black and Latino Investment Funds to achieve greater integration into the Hispanic Heritage Month Proud Hispanic Latino Americans Gift T-Shirt innovation field are complemented by ongoing research by Jeffrey Robinson, CUEED’s academic director.