Accenture launched the Black Founders Development Program to help Black entrepreneurs advance and grow their enterprise technology businesses through greater, more direct access to venture capital, corporate mentorship, and strategic connections with Accenture’s business partners, clients, and people.
Led by Accenture Ventures, the new initiative will help improve Black communities’ ability to create wealth for those who previously did not have a seat at the table, as well as enable the next generation of innovation.
In 2023, continued analysis revealed that Black founders are receiving 1.7 times the number of deals, but also 42% less funding than their counterparts. The fact remains that Black founders are still not getting the funds they need to flourish.
View the SlideShare and read Kathy's latest blog to learn how Black founders are addressing these challenges, navigating the journey, and finding success despite this imbalanced terrain.
"Leadership, resources, technology and investment expertise are all areas where Accenture can deliver significant support to Black entrepreneurs, helping them to accelerate innovation and further grow their businesses."
— Kathryn Ross, Global Open Innovation – Lead and the Black Founders Development Program – Lead for Accenture Ventures
Stories from our founders
Mixtroz: Tech industry community and connections
AIZA Inc: Accelerating change for a global impact
Lillii RNB Inc: Never give up on the right idea
SwayBrand: Establishing equity and authenticity
Helping founders connect with key decision makers
What does it mean to lead change?
Listen in as Jimmy Etheredge, Accenture CEO – North America; Kathryn Ross, Accenture Global Open Innovation Lead and Black Founders Development Program Lead; Paul Daugherty, Accenture Group Chief Executive – CTO; and will.i.am, musician, entrepreneur and Founder of the i.am.Angel Foundation tackle critical topics. Their eye-opening conversations cover the challenges of building networks to provide economic opportunity for Black entrepreneurs, the role that technology needs to play in creating greater equality and much more.
"Black entrepreneurs continue to innovate but face bias and lack access to capital and opportunity in the venture capital community, receiving a disproportionately small amount of funding. Big change is clearly needed, and Accenture Ventures will help lead that change."
— Paul Daugherty, Group Chief Executive – Technology and Chief Technology Officer at Accenture
Accenture Ventures model for change
To address inequities in venture capital across the Black community, change requires research, conversation, understanding, action, and joint partnership. Accenture Ventures seeks to deliver a differentiated program through:
Investing in emerging technology startups to fill strategic innovation gaps for the Global 2000. Our focus has expanded across North America, the African diaspora, Europe & Growth Markets.
Building localized networks of meaningful relationships with Black founders, VCs, and influencers plus access to “Best of Accenture” resources and people.
Consistently challenging orthodoxies in VC by conducting and publishing data-driven research, accelerating change in the technology industry.
Our advisory council
To help guide its future investment strategy, an advisory council made up of diverse, established business leaders and partners has been created to mentor Black founders and CEOs. Accenture is excited and honored to partner with the following members.
The New York based software-as-a-service virtual reality (VR) company developed the end-to-end immersive learning platform to help users develop soft skills to drive equity, inclusion, and value in the workplace and beyond.
Are you working on an enterprise software technology solution? Do you have ideas for collaboration? Reach out via the submission form below. For the latest program info follow our program lead, Kathy Ross, on LinkedIn and Twitter!