As of 2023, there are approximately 2.6 million Black-Owned businesses in the U.S.
That's a lot of potential for economic growth and job creation!
However, still, too many black-owned businesses face significant hurdles during critical growth periods. We know what many of the core challenges are; limited access to operations resources, training, funding, and support. That's where Accelerator Programs come in. These initiatives provide crucial support and resources to ensure that Black-Owned businesses thrive.
Check out our favorite accelerator programs are sure to be game-changers for black entrepreneurs.
- New Voices Fund: The New Voices Fund is a venture capital firm that invests in businesses owned by women of color, including Black women. They also offer a business accelerator program for qualifying businesses.
- Black Founders: Black Founders is a nonprofit organization that provides resources, mentorship, and networking opportunities to Black entrepreneurs. They also offer an accelerator program for early-stage startups.
- National Black MBA Association Scale-Up Pitch Challenge: This annual competition is open to Black-owned businesses across the United States. Finalists receive mentorship and coaching before presenting their businesses to a panel of judges.
- Walker’s Legacy: Walker’s Legacy is a women’s business accelerator that focuses on supporting women of color. They offer a six-month program that includes mentorship, coaching, and access to capital.
- Black Girl Ventures: Black Girl Ventures is a nonprofit organization that supports Black and Brown women entrepreneurs. They offer pitch competitions, networking events, and a digital bootcamp for early-stage businesses.
- New Voices Foundation: This organization provides funding, mentorship, and other resources to women of color entrepreneurs, including Black women. The program focuses on businesses in the beauty, food, and beverage industries.
- Harlem Capital: Harlem Capital is a venture capital firm that invests in diverse entrepreneurs, including Black-owned businesses. The firm offers an accelerator program for early-stage companies that includes funding, mentorship, and access to resources.
- National Black MBA Association: The National Black MBA Association offers an entrepreneurship program for Black business owners that includes training, mentorship, and networking opportunities.
- The Runway Project: The Runway Project is a nonprofit organization that provides funding and support to Black-owned businesses, with a focus on companies owned by Black women. The program offers low-interest loans, mentorship, and access to resources.
- Techstars Anywhere: Techstars Anywhere is a remote accelerator program that supports diverse entrepreneurs, including Black-owned businesses. The program offers funding, mentorship, and access to a global network of investors and mentors.
- Black Founders: Black Founders is a nonprofit organization that provides resources and support to Black entrepreneurs in technology. The program offers mentorship, networking opportunities, and access to funding.
- In3DC: In3DC is a co-working and innovation space in Washington D.C. that offers an accelerator program for minority-owned businesses, including Black-owned businesses. The program provides mentorship, access to resources, and networking opportunities.
- Ureeka: Ureeka is a platform that connects diverse entrepreneurs, including Black-owned businesses, with investors, mentors, and resources. The platform offers a variety of programs and services, including mentorship, funding, and access to experts.
- NBMBAA Scale-Up Pitch Challenge: The NBMBAA Scale-Up Pitch Challenge is an annual competition for Black-owned businesses that offers funding and mentorship to help companies grow and scale.
- Walker's Legacy: Walker's Legacy is a women's entrepreneurship program that provides resources and support to women of color entrepreneurs, including Black women. The program offers mentorship, training, and access to funding.
Accelerators can have a significant impact on black-owned businesses by providing valuable resources and support. These programs offer access to funding, mentorship, networking opportunities, and specialized training. Black entrepreneurs can expect to receive personalized guidance and assistance in scaling their businesses, overcoming obstacles, and achieving long-term success. If you're interested in learning more about how accelerators can help your black-owned business, be sure to take advantage programs provided on this list.
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