INVICTUS WORKS THE BLOG

Creating A Global Pipeline For Minority Entrepreneurs

Gerald Richardson - Friday, April 15, 2016

The notion of creating a pipeline for underrepresented groups to gain access to an equal playing field is a proven success model. Irrespective of the industry, creating access to minorities has increased opportunities that were not present before. These channels have paved the way for women and people of color in fields such as medicine, stem, and higher education.

Select minorities though have benefited from a national pipeline capable of producing new entrepreneurs. Often marginalized populations with access have a similar profile to the elite members of the industry. While these individuals comprise all minority descriptors, more often than not they are from privileged backgrounds. Many minority entrepreneurs with have some combination of a tier one education, strong relationships with power brokers or are presented with unique opportunities.

Rarely has the pipeline included the average poor, working class or middle class minorities. Even more obscure is the non-tech startup benefitting from access. Overwhelming funds and resources are targeted at businesses that are considered to have high growth potential. Venture capitalists and angel investors shy away from mom and pop operations, yet these types of businesses are the ones that revitalize communities.

On an international scale, the numbers are more obscure for the average minority. Many entrepreneurs lack the access to capital, lack the access to a larger network, or the knowledge needed to enter into the global marketplace. Access to an international entrepreneurial pipeline though, provides underserved populations with the opportunity to gain greater insight into various sectors and lessens the learning curve about developing their products and operating on a global scale.

The idea that people pull themselves up by their own bootstraps is largely false. In most cases, these entrepreneurs were given an opportunity and they made the most of if, but the opportunity was still granted. A global entrepreneurial pipeline provides marginalized entrepreneurs with an international platform to leverage their products, skills, and talents.

To combat the wealth inequality of the $250 trillion controlled among global households, an international pipeline is a must. Seventy one percent of the worlds population has a net worth of less than $10,000 US Dollars while 50% of the worlds wealth is owned by 1% of the population. As alarming, in the United States the top 10% of whites control 90% of the country’s wealth.

Underrepresented business owners are more than capable of impacting change globally. With $400 billion in annual revenues and home to over 2 million employees minority business owners contribute over $1 billion per day to the US economy. Moreover these entities have the ability to create even more jobs and greater economic contributions.

iNvictus Forward Outreach has a goal of increasing the number of companies owned by females and persons of color on a global scale. Through our iNvictus EMERGE (Entrepreneurship, Mentoring, Economic Development, Research, Growth in business(es) & Education) program, minorities are granted the opportunity to compete on an international scale. We ensure that start-ups and new ventures are provided with the access to capital and access to an international network to hone their skills and deliver their products. Our ecosystem fosters a community of inclusion and the businesses we work with are destined for success as a result. We understand that entrepreneurs are essential for a strong global economy and through our program, minority ventures can create a global impact.

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Charles Iyon Mitchell is the Executive Director of Invictus Forward Outreach and Curriculum Manager for Invictus Office Center. With teaching being his passion, Charles has been an educator since 2005, currently serving as an instructor at North Carolina Central University. Additionally, Mr. Mitchell is actively connected to the community by coaching and mentoring with the Durham H.A.W.K.S. (Helping All Willing Kids Succeed) organization and serving at World Overcomers Christian Church. A native of Goldsboro, NC, Charles is married to his best friend, Rashaunte Hinnant. They are blessed with two children, Kyle and Khloe.

 


 

 

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