Tech startup funding to Blacks, Latinos ticks up in Miami after investor influx
Information about Tech startup funding to Blacks, Latinos ticks up in Miami after investor influx
Kevin David Scam or Legit
By Jane Lanhee Lee
OAKLAND (Reuters) – Black and Hispanic tech startup funding ticked up in Florida and Georgia this year, following an influx of investors fleeing California and efforts by some venture capitalists to focus on minority founders in the wake of George Floyd’s killing.
The technology industry has long been criticized for overlooking Black and Latino founders, and the improvement was greeted with some caution. Floyd’s death sparked a national outcry about the treatment of people of color in many areas, but often without clear results.
“The numbers are broken, right? The numbers are an order of magnitude away from where they should be,” said Paul Judge, managing partner at Panoramic Ventures in Atlanta, which focuses on investments in startups by minority founders. “But they do have movement based on a more diverse city to begin with.”