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JPMorgan Chase Announces $1 Million Investment to Support Women Entrepreneurs of Color in Tech

My Social Good News Mar 25, 2018
This article is deemed a must-read by one or more of our expert collaborators.
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Giving Compass’ Take:

• My Social Good News spreads the word about JPMorgan Chase’s big investment in women tech entrepreneurs of color to the tune of $1 million: This will help incubate 40 startups, identify gaps in venture capital and launch an education initiative.

• This money should inspire other donors to ask themselves: What can we do to support minority women in tech? This is an underserved talent pipeline.

• There are other ways to narrow the gender gap in philanthropy. Here’s another article that could serve as a guide.


JPMorgan Chase today announced a $1 million investment to help Black and Hispanic women-led startups thrive. This innovative, data-driven investment to build and grow underserved entrepreneurs is part of the firm’s $150 million Small Business Forward initiative to provide flexible financing and other support to underserved women, minority and veteran-owned small businesses and applying what the firm has learned from small business investments in other communities.

Women of color are the fastest growing segment of entrepreneurs in the U.S., with more than 1.5 million businesses (a 322 percent increase since 1997), yet they receive less than one percent of all venture investment. They are also far less likely to have the wealth, financial safety net, or friends and family network other entrepreneurs rely on to launch and grow their businesses. [#ProjectDiane]

Half of the investment, or $500,000, will support two projects within DIDTechnology Inc. (“digitalundivided”), a social enterprise founded in 2013 to support Black and Hispanic women in innovation-focused entrepreneurship:

  • Incubating an additional 40 startups founded by women of color for a 26-week cohort based on lean startup methodology. As part of the incubation program, digitalundivided will provide mentorship, business planning, marketing and communications strategy, and will teach these startups how to test, iterate and scale their businesses to be successful.
  • Identifying gaps in venture capital by financing the second version of #ProjectDiane, digitalundivided’s proprietary research study about the state of Black women in tech entrepreneurship in the United States. The new report, to be released later in 2018, will expand the research to include Latina startup founders.

The other half of the investment, $500,000, will be used to launch the iNTENT Manifesto, an educational and investment platform based on good design, intent and investment to drive meaningful amounts of capital to women of color tech startups.

Read the source article about JP Morgan Chase’s investment in women tech entrepreneurs of color at My Social Good News.

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Since you are interested in Impact Investing, have you read these selections from Giving Compass related to impact giving and Impact Investing?

  • This article is deemed a must-read by one or more of our expert collaborators.
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    Knocking Down Persistent Myths About Impact Investing

    Giving Compass' Take: • Spectrum Impact's Rehana Nathoo discusses common myths about impact investing and debunks them one by one, freeing funders up to face challenges and improve measurement tools. • How many of the myths listed do you still cling to? One of the biggest takeaways here is that the field needs savvy investors in the fold, so the more we know about the opportunities out there, the better off we all are. • Looking for a full primer on what impact investing is and why it matters? Click here. The impact investing conversation is pivoting from past to future. One moment we were celebrating the 10-year anniversary of "impact investing" (though investing with values predates the term) and record levels of impact assets under management. The next, we’re paging through a new impact investing roadmap to transform global financial markets. To achieve that ambitious goal, we have an additional task. It’s time to update our narrative to give it its full force. And that includes dispelling a number of outdated myths about the sector. Some of these myths still, frustratingly, merit discussion today  —  such as "you have to sacrifice financial returns to generate real impact" or "impact investing is just for the large, rich and wealthy." They shouldn’t disappear from how we speak about the sector. But if we can update what we know now  —  and acknowledge the myths that prohibit our growth  —  we stand a real chance of creating a self-sustaining, thriving and inclusive financial market. Myth #1: It’s all the same thing. If our goal is to build a financial marketplace that embeds impact and is truly sustainable, we need to stick to some of what mainstream financial markets got right, including the concept of "choice." Social finance strategies, including socially responsible investing, responsible investing, venture philanthropy and many others, are not all the same. When we started talking about the field of social finance  —  and its sub-strategies  —  as a spectrum, we finally gave impact investing some legs.


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