WHY NEW VOICES?
With equal access to capital, expertise and networks, women of color owned businesses could have a tremendous impact on our economy, in their communities and within their own families.
This cohort of entrepreneurs has great potential to succeed in business, but frequently lack access to the resources needed to grow, with the majority of startups led by women of color experiencing a significant revenue gap and not raising any money.
We must address this disparity in revenue and funding to help ensure their growth and sustainability.
New Voices is committed to closing these gaps by increasing women of color entrepreneurs’ access to capital and providing vital funding, learning and networking opportunities that allow their businesses to grow, scale and thrive for generations to come.
New Voices Foundation has invested more than $1.4 million in non-dilutive capital and matched support dollars in companies owned by women of color, hosted nine $100,000 pitch competitions for 87 women of color entrepreneurs at EssenceFest, CES and other leading national and regional events, and provided hundreds of coaching and mentorship hours to these entrepreneurs.
Average Revenue Women of Color Owned Businesses
Average Revenue Non-Minority Women-Owned Businesses1
Average Funding Raised by Black women who raised less than $1MM
Average Seed Round for All Startups2
.06% or $289 Million
Funding Has Been Raised by Black women-led Startups
0.32% or $1.36 Billion
Funding Has Been Raised by Latinx women-led Startups
1 American Express – The 2019 State of Women-owned Business Report
2 Digitalundivided’s ProjectDiane 2018
3 Digitalundivided’s ProjectDiane 2018
New Voices offers women of color entrepreneurs unprecedented access, capital, and expertise to build, grow and scale their businesses with purpose.
New Voices Foundation has invested more than $1.4 million in non-dilutive capital and matched support dollars in companies owned by women of color.