Words by Lorel Scott
One of the most significant challenges facing minority entrepreneurs is a lack of access to capital. According to a report by the National Bureau of Economic Research, Black entrepreneurs are 40% less likely to receive funding than their white counterparts. Comcast NBCUniversal Lift Labs is working to address this disparity by highlighting the stories of minority entrepreneurs and offering them opportunities to grow their businesses.
Let me tell you about a game-changing initiative that's making a real difference in the world of entrepreneurship as Comcast NBCUniversal LIFT Labs is doing amazing work to support minority entrepreneurs to help close the gap when it comes to accessing capital.
Their most recent effort in this area is the season 2 release of their original docuseries, "Founding In Color," which premiered streaming through the Peacock TV app & Black Experience on Xfinity, February 16th. This three-part series shines a light on eleven Black and Latino founders who candidly discuss the challenges they face in building and scaling their companies in America. The series highlights their experiences navigating issues related to race, sexuality, family, gender, mental health, and more.
The first season of "Founding In Color" premiered in 2020, and received critical acclaim for its powerful storytelling and inspiring messages. Season two builds on the success of the first season, featuring even more entrepreneurs and offering insights and advice on a wide range of topics, while navigating difficult personal & business challenges. But this isn't just about highlighting the struggles. "Founding In Color" is an incredibly inspiring series that's uplifting and empowering. It's about showing that these entrepreneurs are resilient, innovative, and creative - and that they have what it takes to succeed.
The series came at a critical time when the entrepreneurship gap between white entrepreneurs and minority entrepreneurs widened in the wake of the pandemic. The facts are startling. Also reported by the National Bureau of Economic Research, the number of active Black business owners fell by 41% between February and April of 2020, while the number of active white business owners fell by only 17%.
Comcast NBCUniversal LIFT Labs hopes that by sharing the stories of successful minority entrepreneurs, they can inspire others to pursue their dreams and help close the entrepreneurship gap. The LIFT Labs accelerator program in partnership with Techstars, along with initiatives like "Founding In Color," demonstrate their commitment to promoting diversity and inclusion in the startup community.
Comcast NBCUniversal LIFT Labs is stepping up in a big way by working to uplift entrepreneurs and help companies grow. They are addressing topics like the lack of access to capital in the minority community while highlighting the stories and growth of minority entrepreneurs. The series is a great example of their efforts. By promoting diversity and inclusion in the startup community, they are helping to build a more equitable and just society.
Featured: Lorel Scott
I am honored to be part of this series to share my journey as a Black & LGBTQ founder and to see this kind of leadership in action. The first season of "Founding In Color" was a huge success, and season two promises to be even better. Comcast NBCUniversal Lift Labs is doing truly groundbreaking work.
Thank you to these inspiring founders and business owners for sharing your unique stories: