A message from our President.
At the end of 2022, the HBCU Founders Initiative made a commitment to inspire even more “good trouble” in 2023 through entrepreneurship and innovation at HBCUs. The results are in! We expanded our reach by increasing the number of Pre-Accelerators we facilitate on HBCU campuses from 7 to 12, provided HBCU students with hands on entrepreneurial experience by placing them at internships with early stage startups via a partnership with Blackstone, and co-hosted a pitch competition with the United Negro College Fund (UNCF) featuring HBCU Founders at the National Musuem of African American History and Culture in Washington, DC.
Thanks to the generosity of our corporate and foundation partners and the hard work of our startup advisors, staff, university administrators, and most of all, the founders, these are just a few of the ways we made progress toward our big tent approach to entrepreneurship and innovation. Before we leap into the New Year, please take a moment to celebrate all of the tremendous impact we created together throughout 2023. We hope it inspires you to help us make 2024 our most impactful year to date.
Warmly,
Marlon Evans
We partnered with amazing organizations.
This year we established partnerships with UNC’s Eshelman Institute for Innovation, Principal Foundation, Blackstone Launchpad, TechStars Foundation, Vistra Corporation, Ally Bank, and RLJ Lodging, while also building on our work with UNCF TechVentures, AARP, Costco, Concrete Rose, Chase for Business, Intel, Perkins Coie, and Cooley.
Each of these partnerships has allowed us to scale entrepreneurial education and training across HBCU campuses. Check out more amazing moves made this year by HBCUFI.
“The HBCUFI Accelerator program has been life-changing for me. Before this program, I didn't know how to create a good business pitch and hone in on how I could make my business stand out in the marketplace. But after going through the program, I have received all that and more. The mentors, speakers, and HBCUFI team are amazing and knowledgeable. I am now confident I have the tools to take my business to the heights I want it to go.”
— Faith Shamley, Fall 2023 Pre-Accelerator graduate
We grew our Pre-Accelerator programming.
This year we welcomed five additional HBCUs into our campus-based eight-week Pre-Accelerator program, bringing us to 12 total partner institutions.
The five new HBCUs that on-boarded into HBCUFI's Pre-Accelerator program include Hampton University, Morehouse College, Texas Southern University, Benedict College, and Bethune-Cookman University. These institutions joined HBCUFI's Fall 2022 inaugural cohort of seven partner HBCUs that include Bowie State University, Elizabeth City State University, Morgan State University, North Carolina A&T University, Oakwood University, Prairie View A&M University, and Spelman College.
As a result of our expansion, we hosted 100+ startup founders from 22 Historically Black Colleges and Universities this year in our eight-week Pre-Accelerator program. Read more about our founders who are building tech-enabled solutions across fintech, health tech, sports tech, retail, gaming, and more — in our Spring 2023 and Fall 2023 yearbooks.
Our 2023 program taught our cohort topics that will carry them through their journeys as early-stage founders. Our curriculum covered everything from validating the idea to building a prototype and navigating customer discovery. Other focal points of the program allowed founders to understand marketing/branding, legal operations, and how to fundraise.
To date, over 800 students and alumni from 80+ HBCUs have benefitted from HBCUFI's programming with participants raising over $2M for their startups.
PowerUp, February 2023 – Eshelman Institute for Innovation announced partners with the HBCU Founders Initiative to serve underrepresented populations. The Eshelman Institute for Innovation, within the UNC Eshelman School of Pharmacy, partnered with HBCUFI to create PowerUp, a program that will identify and support innovators as they try to solve health equity challenges in underrepresented communities across North Carolina.
READ THE FULL STORY
Blackstone LaunchPad, Summer 2023 – HBCUFI partnered with Blackstone as one of their employer partners for their LaunchPad Summer Internship Program. Blackstone LaunchPad works with colleges across the United States to deliver entrepreneurial skill-building programs and work-based learning that help students launch successful careers. They provide training and support through partnerships with higher education institutions, nonprofits, and employers to increase access to career-building opportunities.
LEARN MORE
We hosted our inaugural Better Futures Pitch Competition.
This year, HBCUFI and the United Negro College Fund (UNCF) hosted their inaugural Better Futures Pitch Competition for startup founders from HBCUs. The competition was held on April 21st at the National Museum of African American History & Culture in Washington, D.C., and featured 10 top-performing startups from the HBCU Founders Fellowship program who competed for up to $25,000 in funding. The 10 Better Futures finalists were students and alumni from the following HBCUs: Bowie State University, Elizabeth City State University, Fayetteville State University, Morgan State University, North Carolina A&T State University, Prairie View A&M University, Spelman College, and Oakwood University.
The top-placing startups were: Vaila Shoes - A modern dress shoe brand for women with extended shoe sizes (Fayetteville State University), Car Seat Companion - Improving car seats today, to make them safer tomorrow (Elizabeth City State University), and Monocle - A social e-reader that enables a community-focused reading experience through shared notes within a book (North Carolina A&T State University).
Our founders excelled.
Beyond their work in the HBCUFI programming, our founders went above and beyond to obtain external opportunities that aided in the growth of their startups. HBCUFI graduates have gone on to win pitch competitions backed by Black Girl Ventures, Pharrell Williams’ Black Ambition Prize, 1863 Ventures and more. Read on to check out more exciting progress made by our founders this year.
VAILA SHOES - 23-Year-Old Ahriana Edwards landed her size-inclusive footwear brand In Macy's within 1 Year of business. Vaila Shoes is a modern dress shoe brand for women sizes (9-14). Alongside launching in Macy’s this year, Vaila also placed 1st at HBCUFI’s Better Futures competition. Vaila has gone on to be accepted into Nex Cubed’s HBCU Founders Accelerator Cohort #2.
LEARN MORE
MONOCLE - Monocle was awarded the HBCU grand prize at Pharrell Williams’ Black Ambition 2023 Demo Day. Additional HBCUFI graduates who were awarded Black Ambition funding include Scholist and Tendaji.
LEARN MORE
DOSSO BEAUTY - Fall 2023 Pre-Accelerator graduate Kadidja Dosso, a Hampton University alumna made the 2024 Forbes 30 Under 30 list. Her startup Dosso Beauty, produces hypoallergenic braiding hair and skincare. Kadidja is 1 of 4 Black entrepreneurs within the 2024 Retail & E-commerce 30 Under 30 cohort.
LEARN MORE
“My experience with HBCUFI affirmed me as a Black founder and made me believe in my ability to scale. When I first started my company, I thought support for Black HBCU founders was nonexistent. HBCUFI let me know that was not the case. Although Black founders are underrepresented and underfunded, there are plenty of us out here working to change that.”
— Deaz Nunoo, Fall 2023 Pre-Accelerator graduate
We caught the attention of newsrooms nationwide.
How A Startup Group Is Giving A Boost To Black Entrepreneurship Through HBCUs
READ MORE
New Partnership Establishes the HBCU Pre-Accelerator Program
READ MORE
Vaila Shoes founder Ahriana Edwards Takes Home Top Prize at HBCUFI’s Better Futures Pitch Competition
READ MORE
Initiative Empowers HBCU Students and Alums as Entrepreneurs
READ MORE
The HBCU Founders Initiative Announces Five New Members For Its Pre-Accelerator Program
READ MORE
Want to partner with us?
If your company is looking for ways to support the future of HBCU entrepreneurship, we encourage you to reach out to us.
Companies that partner with HBCUFI have the opportunity to work with the next generation of innovators and get exposed to diverse talent entering the workforce. Our partners activate their employees' expertise and passion by providing them with the opportunity to volunteer for mentoring and speaking opportunities within our Pre-Accelerator programming.
With your support, we can continue on our mission to expand our programming and together, we can work to close the racial wealth gap.
Interested in bringing HBCUFI to your HBCU?
Our vision at the HBCU Founders Initiative is to be present on every single HBCU campus (all 107 of them). If you are an HBCU faculty member or administrator interested in taking the lead on bringing HBCUFI to your HBCU, sign up for our waitlist here.
Current HBCU students, alumni, and allies are welcome to help introduce us to the decision-makers at your HBCU so we can continue on our mission of scaling entrepreneurial education and training across every campus.
Interested in donating to the HBCU Founders Initiative?
The HBCU Founders Initiative is a 501(c)(3) tax-exempt organization. Your donation will help ensure that all HBCU students, alumni, and faculty have access to the technical and financial resources necessary to launch impactful, digitally-enabled businesses that help close the racial wealth gap. Together we can build the next generation of founders.