Acknowledging the ongoing challenges experienced by entrepreneurs of color, P&G Ventures announced two partnering events to be held in May that will provide them with support and mentoring opportunities.
The report Crunchbase Diversity Spotlight 2020: Funding to Black and Latinx Founders addressed a key struggle that Black and Latinx founders face, prompting P&G Ventures to focus on helping minorities find investors and other sources of capital. The report disclosed that only 2.4% of all venture funding went to Black and Latinx founders. It also noted that founders from such underrepresented groups typically do not have friends or family members with the amount of resources necessary to assist them that nonminority founders have.
“At P&G, diversity and inclusion run through everything we do. With that in mind, we are pleased to support these events that celebrate the innovations from entrepreneurs of color, while also providing resources to tackle challenges they may face in their entrepreneurial journey,” said Leigh Radford, Senior Vice President and Founder, P&G Ventures. “The more diversity that’s represented in the start-up ecosystem means that new products and innovations will reflect the needs of more people.”
P&G Ventures’ first event will be held in partnership with Disruption Now Media to host “Break Down – Breakthrough: The Realities of Entrepreneurship” that is a free virtual event to be held on Friday, May 7, 2021.
Successful leaders in the world of venture capital and entrepreneurship will give advice about overcoming challenges and using resources to start and grow their businesses. The speakers and panelists include:
- Candice Matthews Brackeen, General Partner at Lightship Capital,
- Clarence Wooten, Co-Founder and General Partner at Revitalize Venture Studio,
- Monique Idlett-Mosely, Co-Founder and Managing Partner at Reign Venture Capital,
- Leigh Radford, Senior Vice President and Founder at P&G Ventures, and
- Rob Richardson, Founder of Disruption Now Media.
Registration is now open for Break Down – Breakthrough at disruptionnow.com/pg
P&G Ventures’ second event “Pitch BLCK” will be co-hosted with Revitalize Venture Studio. Black entrepreneurs can submit their innovative product pitches for possible selection into the live pitch event on the voice-only social app Clubhouse. With the event being audio-only, hearing pitches will draw focus to the ideas rather than their presentation, and will ensure judges are not influenced by visual biases.
Submissions are open for entrepreneurs of color to apply until May 7, 2021. Entrepreneurs, inventors, and startups who have early-stage, fast-moving, consumable, or consumable-plus-device-enabled innovative technologies are eligible to apply.
From the submissions, four finalists will be chosen to pitch their product to a panel of expert judges on May 19 on Clubhouse (no advance registration required).
The judges are:
- Clarence Wooten, Co-Founder and General Partner at Revitalize Venture Studio;
- Jason Breen, Senior Director, Enterprise Accelerators, Target;
- Lee Henderson, Partner and Americas Private Leader at EY; and
- Leigh Radford, Senior Vice President and Founder at P&G Ventures.
