LinkedIn supports Black Entrepreneurship with $500,000 in grants to digitalundivided and Blavity.org

Entrepreneurship is part of the DNA of the Black community. From trailblazers like Madam C.J. Walker to Reginald Lewis to countless others, Black people have shown a history of innovation, creativity and resiliency when it comes to entrepreneurship. We are a purpose-driven community of builders whose entrepreneurship journey has historically been disproportionately disadvantaged when it comes to gaining access to funding and resources. For example, only 4 percent of Black American businesses survive the start-up stage, even though 20 percent of Black Americans start businesses.

As part of our 2022 Black History Month campaign, LinkedIn is giving $500,000 in grant funding to digitalundivided and Blavity.org, $250,000 each, to accelerate their annual Black entrepreneurship fellowship programs. In addition, LinkedIn will collaborate with these organizations to amplify the stories of emerging entrepreneurs and drive more awareness of the need for capital and a supportive ecosystem through the rest of the year. 

As a company, we are on a journey to create equal access to opportunity and help drive more equitable outcomes. We provide grants and resources to partners who are committed to expanding economic opportunity. Since 2020, LinkedIn has donated $5 million in funding and services to organizations that support economic and workforce development within the Black community. We selected digitalundivided and Blavity.org because of their holistic approach to developing, supporting and funding entrepreneurs—including their focus on leveraging data and storytelling to create more economic growth and generational wealth for Black entrepreneurs and their communities. Throughout 2022, LinkedIn is supporting initiatives and programs led by these two organizations. We will share the journeys of Black entrepreneurs and invite LinkedIn members to get engaged in supporting the development of these businesses. LinkedIn will provide access to education and products such as LinkedIn Sales Navigator, which supports companies in building partnerships and driving revenue. 

While access to capital is one of the major hurdles that many Black entrepreneurs face, there are other challenges including lack of research insights, professional development, training and community building. Starting this month we’ll be leveraging the power and reach of the LinkedIn platform to highlight proprietary research about all aspects of the Black entrepreneurship journey, host live discussions, offer training and development, spark conversations and build a community that supports Black entrepreneurs by shining a light on the financial and resources inequities that Black people face when starting and running their own businesses. 

We all can play a role in developing ecosystems that support the development of these businesses. Let’s create a new narrative and reality by focusing on three things:

1. Creating a Thriving Ecosystem: Funding and support are essential. We must focus on creating a sustainable strategy that builds a thriving ecosystem that funnels equitable access to capital, education and resources long-term.  
2. Celebrating Innovation & Financial Success: Due to changing demographics trends, Black businesses are creating innovative solutions to today’s most pressing challenges. What’s more is that research shows that diverse startups achieve better financial results. Let’s celebrate the innovative and financial achievements of Black entrepreneurs by reinvesting in their business. 
3. Building Community & a Roadmap for Others: Let’s build a community of support, encouragement, and best practice. Through sharing stories, research and insights, we can create solutions together. 

You’re invited: As part of our efforts to elevate and amplify stories of Black entrepreneurs on the platform we are hosting a LinkedIn Live event on Thursday, February 17 at 10 AM PT.  Ty Heath, LinkedIn Director of Market Engagement at The B2B Institute will lead a conversation with Lauren Maillian, CEO of digitalundivided and Alice Vilma, Managing Director & Co-Head of Morgan Stanley’s Multicultural Innovation Lab focus on the importance of investing in Black women entrepreneurs. In addition, Ty will also engage in a fireside chat with three Black women CEOs who are changing the C-suite: Elise Smith, CEO and Co-Founder of Praxis Labs, Mandy Bowman, CEO of Official Black Wall Street, and Kristina Jones, CEO of Guardian Lane. Click here to register.  

Let’s celebrate the many Black entrepreneurs, especially Black women business owners, who are redefining their professional journey by aligning their passions with their work. Share a post with the tag #BlackHistoryMonth to join the conversations.