Diversity is a longstanding issue in the entrepreneurship and startup worlds, especially when it comes to funded businesses.
For example, a study by business data site Crunchbase found only 2.4% of venture funds invested in U.S. companies between 2015 and August 2020 went to Black or Latino founders. That means they are seriously underrepresented since 13.4% of Americans are Black and 18.5% are Hispanic or Latino, according to U.S. Census data.
Still, many organizations across Central Florida are dedicated to offering underrepresented business owners help with accessing capital, building a business plan, learning new skills and more. These resources are not just for racial or ethnic minorities; groups in Orlando are serving women, LGBTQ+ and other underrepresented entrepreneurs. Here’s more.
Accelerator programs
Black Orlando Tech: Nonprofit Black Orlando Tech, dedicated to helping 10,000 minorities launch careers in technology, operates two tech programs: accelerator Tech Startup Series and training courses Tech Cohorts. Startup Series mentors budding and active entrepreneurs, while Tech Cohorts helps participants learn technology skills and even get certified in certain areas.
Chambers
African American Chamber of Commerce of Central Florida: The chamber offers Black businesses resources for contracting, entrepreneurship training and access to capital. Members span Lake, Orange, Osceola and Seminole counties.
Asian American Chamber of Commerce of Central Florida: The chamber serves as an advocacy and development group for Asian-American businesses in the region. Specific offerings include networking events, virtual seminars and mentorship.
Hispanic Chamber of Commerce of Metro Orlando: The chamber connects, promotes and educates Hispanic businesses and business owners.
National Association of Women Business Owners Orlando: NAWBO Orlando is one chapter of the National Association of Women Business Owners, which represents more than 10 million firms nationwide. Members can connect with other women-owned businesses, tap into business resources and learn through webinars and training courses.
The PRIDE Chamber: The chamber provides networking, education, business incubation, awards and more for businesses in the LGBT community.
Capital
Ascendus: The New York-based organization offers loans between $500-$250,000 to low- and moderate-income business owners. Ascendus operates an office at Fashion Square Mall in Orlando.
Seedfunders Opportunity Fund: Seedfunders — a network of independent early-stage capital groups in Orlando, St. Petersburg and Miami — in 2020 launched the Opportunity Fund to invest in majority Black-owned startups headquartered in Florida.
Other resources
Florida State Minority Supplier Development Council: The council certifies and registers minority-owned businesses so they are eligible and visible to corporate and government buyers. The statewide group operates two offices in Orlando.
National Entrepreneur Center: The small business development center works in tandem with organizations like the African American Chamber of Commerce of Central Florida, Asian American Chamber of Commerce of Central Florida, Hispanic Chamber of Commerce of Metro Orlando and others to connect entrepreneurs with the resources they need.
National Black MBA Association, Inc. of Central Florida: The chapter’s leadership development programs aim to create economic and intellectual wealth that improves the financial standings of Black businesses. The chapter represents business in the I-4 corridor, stretching from Daytona Beach to Orlando to Lakeland.
Prospera: The nonprofit offers consulting services, seminars, assistance accessing capital and more for Hispanic entrepreneurs. Prospera, which spans Florida and parts of the Southeast, is headquartered in Orlando.
Did we miss something? Let us know by emailing agsoderstrom@bizjournals.com.
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