Equity Through Social Entrepreneurship
When it comes to receiving U.S. venture capital, there are some shocking statistics:
Women founders receive just 2% of the total capital invested in VC-backed startups.
BIPOC founders
receive 1% of
VC funds.
Women BIPOC receive less than 1% of all VC
funds every year.
Since the beginning of 2023 to today, it’s gotten even worse because of the softening of the economy.
People are claiming it’s not possible to help.
For me there are two things that I’ve decided. The funding will be specific for “pre-seed” so helping those who have incredible ideas but no MVP (minimally viable product). Whether physical, or digital, we are using our resources to help them create it.
The Unhoused - Comfort For All
Shortly after participating in the Social Entrepreneurship Challenge, I met a woman named Veronika who started the Empowerment Plan in Detroit. They took scrap materials from General Motors at the time and produced jacket/sleeping bags for the unhoused. Here I learned a segment of the unhoused chooses to live this way.
I continued to be inspired by incredible incentives across the country for the unhoused. I visited Nashville to see their shared condos, spent time painting tiny homes in Detroit for the unhoused and witnessed the acceptance by communities in Western Michigan where they are being placed thanks to Habitat For Humanity.
RowOne’s Vision In Practice:
As I was doing my due diligence of learning more about voices in other communities, I attended the Changing the Narrative: Celebrating Black Founders & Inspiring the Future of Black Entrepreneurship in Michigan event put on by the SONG Foundation in Farmington Hills. There I met someone extraordinary. We funded this founder’s trip to SXSW to meet funders and help kickstart her dream. After she had gotten approved for funding to work with Tech Town Detroit, the funding was delayed so we assisted with what was needed so the developers could continue to build the product and maintain the teams schedule.
This was the conduit to our incentive and shaped our vision to help those who need it.
Future Vision - What’s Next?
We’re in the process of choosing organizations that we truly believe in that share our vision and will make an impact to help others.
Starting in September 2023, we will have a quarterly allotment of donations continue in perpetuity for each organization. Our hope is to grow our business, and continue to add organizations and charitable endeavors to our efforts.
Todd Girdis – CEO
Contact
- Mon-Fri: 9AM – 5PM EST
- Phone: 734-395-3534
- custserve@rowoneht.com