When it comes to funding for Black founders, the statistics tell a stark story: Black founders received just 1.2% of the $147 billion invested in U.S. startups in 2022. The disparity is even more pronounced for Black women founders, who receive less than 1% of all venture capital funding. At the founding stage, Black-owned startups receive an average of only $500 in outside equity investments, compared to $18,500 for white-owned startups.
Despite these obstacles, we’re witnessing the emergence of determined Black entrepreneurs who are creating pathways to success through innovation, community-building, and pure grit.
Upcoming Events
Looking to engage further? Check out these Innovate@BU Black History Month Events and join in on the celebration. Register for each one below!
- 2/21: SoulAAn:Black Arts Showcase
- 2/25: Black Founders Panel
- 2/26: SoulAAn Professional Development
Explore additional opportunities on our Events page!
Richard Casimir: Bridging the Wealth Gap
Richard Casimir (Questrom’27), a second-year Business Administration student, brings his passion for financial literacy to Innovate@BU as a Student Ambassador. During his time in the First-Year Innovation Fellowship (FYIF program), Richard developed “Bridging the Wealth Gap,” an event featuring Boston professionals speaking about generational wealth and financial literacy.
His inspiration comes from personal experience. After living in Haiti for 15 years before moving to Vermont, Richard witnessed stark disparities in financial knowledge between communities.
Richard’s vision has evolved from creating a network of free financial therapists for Black college organizations to teaching students options trading with credentialed mentors. He draws daily inspiration from financial educators who emphasize empowering underrepresented communities to navigate financial markets with confidence.
“Every day is a learning experience. Every day is an inspiration,” Richard reflects. “We are trying to give people what they haven’t seen before.”
Through Project Action, he received the funding and coaching needed to bring his initial event to life. “When I first got started, I knew I wanted to create an event, but I didn’t really know how. Project Action gave me the help I needed, and it was great.”
Richard sees progress for Black founders through increased creative freedom. “I see a lot of founders being pushed into more of the creative side, not only held to very technology-based ventures,” he notes.
Brianna Matey, Founder of Rubie: Empowering Women with PCOS
Brianna Matey (CAS’27), a Computer Science major, is developing an application to support women with PCOS (Polycystic Ovary Syndrome), a hormonal disorder that affects many women, but often goes under-discussed.
“Growing up, I have struggled with having PCOS. Other members of my family have PCOS, and it’s a hormonal disorder that affects many women that a lot of people don’t really know about,” Brianna explains. Her personal connection to this health issue drives her passion for creating a solution that builds community and provides resources.
Currently in the Innovation Pathway program at Innovate@BU, Brianna works closely with her mentor to refine her concept. They’re taking a methodical approach to product development, focusing on customer analysis to ensure they build something truly beneficial for the PCOS community.
When asked about her role models, Brianna lights up talking about Beyoncé: “I’ve always had a liking to Beyoncé… I see her as someone that’s just so powerful and strong, and the way she dominates the stage is something I really aspire to.” She draws inspiration from this strength as she navigates the entrepreneurial landscape.
Brianna acknowledges the challenges Black women founders face. She recalls meeting a Black female founder at IDEA Con who shared her struggle for her venture to be taken seriously, and her journey through “over 100 no’s before she got a yes.” Despite these challenges, Brianna remains undeterred: “I’m someone that’s hard working. I got it from my mom, and I won’t let that stop me.”
Her advice to young Black female founders? “Always hold your head high, and always believe in yourself… having confidence in yourself and in what you believe in goes a long way.”
Nevaeh Calliste-Williams, Founder of Survivors Awareness: Creating Healing Spaces for Survivors
As a junior Media Science major with a minor in Anthropology, Nevaeh Calliste-Williams (COM’26) wears multiple hats at Innovate@BU—she’s in the Innovation Pathway program, works at the front desk, and serves as a student ambassador.
Her nonprofit, Survivors Awareness, which she founded at just 16 years old, has a powerful mission: helping sexual violence survivors heal by transforming how society interacts with and supports them.
“What we do is help sexual violence survivors with healing through how the world kind of interacts with that subject,” Nevaeh explains. Her organization focuses on preparing both survivors and those who interact with them to create more supportive environments.
Her motivation stems from personal experience and witnessing inadequate institutional responses to sexual violence. “In middle school, I went through it… and people did not necessarily react as they should have,” she shares. A subsequent incident at her high school involving classmates and an inappropriate school response became the catalyst for her nonprofit.
Like many social entrepreneurs, Nevaeh is working to break stigmas around nonprofit sustainability. “A lot of people have this idea that nonprofits can’t turn a profit. That’s not necessarily true,” she explains, comparing her 509 public charity classification to museums or zoos that generate revenue while maintaining nonprofit status.
Nevaeh’s passion shines through in every word: “Whenever I talk about my nonprofit, I get chills every time… I don’t think I can go into another career than this.” Her mother serves as her primary inspiration and unwavering supporter.
Her advice to other founders emphasizes finding supportive communities: “Go where you’re celebrated, not tolerated.” She stresses the importance of finding spaces that don’t just compliment your idea but actively help you excel.
Mya Kelly: Building Financial Literacy Through Education
Mya Kelly (CAS’27), a sophomore Psychology major with minors in Innovation and Entrepreneurship, and Human Development, brings a thoughtful perspective to her entrepreneurial journey. She has participated in several Innovate@BU programs, including FYIF (First Year Innovation Fellowship) and Idea Incubator, and she has interned with a student-run venture, Popple.
Her vision is to create a nonprofit focused on financial education resources. “I want to create my own nonprofit focused on educational resources, particularly financial education resources, just so that it can be integrated more throughout the United States,” she explains. Recognizing that financial literacy is essential but often overlooked in traditional education, Mya aims to develop curriculum that’s “very digestible, very fun… something easy to incorporate into the day.”
Mya draws inspiration from her mother, a business owner in her home state of Kentucky: “She owned a storefront where she was highlighting small businesses in our area… now she caters full time.” This role model’s journey as a Black entrepreneur in a challenging environment has been particularly meaningful to Mya.
Like many underrepresented founders, Mya grapples with imposter syndrome. “It’s kind of like, ‘Oh, I feel like other people are much more ahead’… I don’t necessarily belong in these places, but I feel as though I do. I know I do. It’s just always in the background.” She emphasizes the importance of representation in entrepreneurial spaces, recalling how seeing a Black female program leader at Innovate@BU immediately boosted her confidence.
Mya values the community aspect of Innovate@BU, particularly the opportunity to connect with others working on similar initiatives: “There are several people in the space who are also working on financial literacy, so being able to work with them and bounce ideas off of them has always been really inspiring.”
