Building Accelerators to serve Black and Hispanic community entrepreneurs

Abstract

Entrepreneurship among people of color is one component of breaking down systemic racial wealth disparities in the United States. However, some of the same systems that contribute to systemic racial wealth disparities also create many barriers for Black and Hispanic entrepreneurs trying to start and maintain businesses, in particular when trying to access capital.
Accelerators that focus on equity and racial justice can be a part of solving this problem. This report studied how WEPOWER’s Elevate/Elevar accelerator, based in St. Louis, Missouri, has adapted Village Capital’s accelerator curriculum to meet the needs of their entrepreneurs. Currently in its second year, the Elevate/Elevar accelerator is continuing to learn about the needs of its founders, and these insights are a useful starting point for any accelerator to ensure its program will meet the needs of Black and Hispanic founders and break down racialized barriers to entrepreneurship.

Keywords: entrepreneurship, racial equity, capital, community development

JEL Classification: a13,o32