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Camryn Green
Professor White
MAN 3025

The Pain Project/Golden Circle

The reason why my company CBG Capital exist is because African-Americans are
grossly underrepresented in the tech industry. One reason for this is because it is very difficult for
tech companies ran by black CEOs to receive venture capital funding. My company will
increase African-Americans participation in the tech industry by focusing on investing in tech
companies with black owners. Specifically, what my company does as a venture capital firm is
provide capital to startup tech business in exchange for equity.
The problem or frustration that I am committed to solving is the fact that only 1% of tech
companies with African-American CEOs receive venture capital funding. One reason this may
be is because of education. The education it takes to not only start a tech company but run it
successfully is extensive. This type of education may not be as readily available to AfricanAmericans as it is to other groups. Another reason this problem might exist is because of the
perception of African-Americans. Many venture capital firms are run by people of a different era
who might have a negative perception of African-Americans.
The solution I have come up with from talking to a group of diverse people is to start a
venture capital firm that focuses on investing in black owned tech startups. Because the venture
capital firm is also black owned there will be no negative perception of black people that
prevents our company from investing in a startup.

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From talking to a diverse group of people I have come up with three alternate solutions to
solve this problem. One way is through education. We should be spending more time in trying to
educate African-Americans in the tech industry. Another way is through crowdfunding. Black
owned tech startups can be funded through crowdfunding campaigns such as Kickstarter. The
final solution I have come up with is to promote the success of other black entrepreneurs in the
tech industry. If we shine a spotlight on the success African-Americans have had in the tech
industry, it can shift the perception of blacks that already exist. The promotion of excellence can
be monetized by creating a magazine or website that shines a light on African-Americans
success in the tech industry similar to publications such as Essence or Source Magazine.
Through my research I have found that there are three companies that already provide a
solution to the problem I am committed to solve. One of these companies is Walker & Company
Brands ran by Tristian Walker. This companies specializes in creating products specifically for
African Americans. Another company that offers a solution is Comcast Ventures. Comcast
Ventures focuses on making investments in entrepreneurs of color. The final company I found
was Reach Capital, which invest in companies committed to solving problems of access such as
education.

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