Nearly 80% of NFL Players GO BROKE while over 70% players are minorities. This amounts to OVER 2 Billion in mismanaged funds.
Nearly 60% of NBAPlayers GO BROKE while over 80% players are minorities. This amounts to OVER 10 Billion in mismanaged funds.
Of the top 100 minority major Music Brands, they have a social reach of over 200 million people with nearly 50 Billion in total buying power.
That is less than 1% of total investments are invested in minority companies. There is over 25 Billion in angel investments invested in companies across the country.
About Huddle Ventures
Technology is the fastest growing and most impactful sector shaping the growth of the workforce, enabling entrepreneurship, and influencing the future of the knowledge economy.
Unfortunately, this highly innovative industry remains an exclusive club dominated by majority white men. Nationwide African Americans and Hispanics make up less than 8 percent of the workforce in high tech jobs, respectively. In recent reports, tech industry giants have revealed a less than 2 percent representation from these racial groups marking a significant challenge within the industry to address discriminatory hiring practices which create harmful economic impacts for underrepresented racial groups. Past and current discrimination extends toward entrepreneurship as well.
Less than 1 percent of all venture capital dollars are invested in African American or Latino-owned companies. Additionally, a projected $1.1 million in sales and 9 million jobs created by would-be minority small businesses and entrepreneurs is being forfeited in the US due to discriminatory lending practices and lack of access to capital. With over 600,000 IT jobs unfulfilled in the US alone and a predicted 1.1 million that will go unfulfilled by 2020, we cannot afford to skip out on cultivating talent to help drive the future forward.