POWERING INCLUSION: Accelerating Regional Growth by Investing in Businesses Owned by People of Color -The Relentless Pursuit of an Economy Fueled by the Inclusion of Everyone in Our Region

About the Speaker & Event

Most U.S. cities compete with one another to attract talent and corporations. In the Minneapolis-St. Paul region, we compete with ourselves by overlooking growth opportunities in our own front yard. Our region will only unlock its full potential when our economy works for everyone, but our values of equality haven’t yet resulted in racial and economic equity. We need a roadmap and fuel to guide our next steps.

ARLAN HAMILTON built Backstage Capital from the ground up while homeless. Backstage Capital is a venture capital fund established in 2015 and dedicated to minimizing disparities in tech by investing in high-potential founders who are people of color, women, and/or LGBT. To date, Backstage Capital has invested more than $5 million in 100 startups led by founders who are people of color, women, and/or LGBT.

In 2018 Backstage launched a $36 million fund specifically for Black women and a 4-city Accelerator Fund which includes funding and support tailored to address systemic barriers that “underestimated” founders face. She’s been profiled in Forbes, Fast Company, The Wall Street Journal, and many other publications and platforms. Read her full bio here.

Black women are among the most educated groups in the U.S. and fastest growing segments of entrepreneurs, but are among the least likely to receive funding. Black women founders receive just .2% of all venture funding and less than 3% of venture capital dollars in 2018.

The misperception of risk involved in investing in Black women specifically and in businesses of color generally permeates across sectors from business to philanthropy to public sector programs, and is accompanied by lower expectations for outcomes, and a view of investments as charity.

“Less than 10% of all venture capital deals go to women, People of Color, and LGBT founders,” Hamilton has said. “Other venture capital firms see this as a pipeline problem. We see it as the biggest opportunity for investment.”

Arlan's remarks will be followed by a cross-sector panel to respond to her insights and discuss ways that leaders in all sectors can activate her recommendations in the region to drive equity and growth. The event will conclude with a reception and the opportunity to make new connections.

About the Series

The Center for Economic Inclusion's new POWERING INCLUSION event series will move us from conversation to collective action to measurable impact.

We'll catalyze ideas, partnerships, and opportunities as we directly face the choice: keep leading the nation in racial exclusion or pave the way to shared prosperity. Join us and other thought leaders in adopting best practices, amplifying community assets, and embracing the role we each play in creating an inclusive economy.

This event is FREE but space is limited. Registration is REQUIRED.
Note: We recommend attending with a colleague to better equip you to apply the lessons learned.
Questions? Contact us at info@centerforeconomicinclusion.org or (612) 351-8200.