The Hampton Roads Black chamber of commerce, Black BRAND, has launched the B-Force Accelerator program aimed at helping Black entrepreneurs thrive amidst challenges such as access to capital. The program, which began on Feb. 25, offers 17 startups the opportunity to learn various business skills including strategic and financial planning, banking, and marketing. The program covers various aspects of the startup process, such as gaining access to capital and learning how to pitch to investors. The diverse businesses participating in the program range from a bakery and restaurant to a health-focused AI platform and a custom hair-piece business. The program, which is a collaboration between Black BRAND and the Norfolk State University Innovation Lab, plans to hold another iteration in the fall.
Introduction
From INSIDE BUSINESS By TREVOR METCALFE
Black BRAND B-Force Accelerator Program
Blair Durham, president of Black BRAND, the Hampton Roads Black chamber of commerce, interviews guests while broadcasting the radio show “Black Wall Street Today” at the WHOV studio on the campus of Hampton University Wednesday afternoon January 9, 2019. Black BRAND recently launched its B-Force Accelerator business program. (Jonathon Gruenke / Daily Press)
A new accelerator program from Hampton Roads’ Black chamber of commerce aims to help entrepreneurs of color access capital and surmount other hurdles.
Program Details
Black BRAND started the first iteration of its B-Force Accelerator program on Feb. 25. Through mid-May, 17 Hampton Roads startups will learn strategic and financial planning, accounting, banking, marketing and other business skills from program mentors.
Challenges Faced by Entrepreneurs
“The biggest challenge that all (small) business owners face is access to capital,” said Blair Durham, Black BRAND co-founder and president. “You can imagine that that challenge is especially heightened for Black entrepreneurs.”
Program Benefits and Participants
The program will take participants through most aspects of the startup process, Durham said, including planning, marketing and finance, gaining access to capital and learning to pitch to investors.
The 17 businesses include a bakery, a restaurant, a health-focused artificial intelligence platform and a custom hair-piece business for those suffering from hair loss due to cancer treatment.
Accessibility and Future Plans
Durham said Black BRAND tried to make the program as accessible as possible. Beyond being free, the program did not place any limits on the number of entrepreneurs who could join. The program is also making its workshops available in the mornings, evenings and weekends to meet with entrepreneurs on their own time.
The program is a collaboration between Black BRAND and the Norfolk State University Innovation Lab, which is supporting the effort through consultants and other resources. The program is being funded through the GO Virginia economic development initiative and Truist bank.
Durham said Black BRAND plans to hold another iteration of the program this fall. For more information about B-Force, visit blackbrand.biz.
Contact Information
Trevor Metcalfe, 757-222-5345, trevor.metcalfe@insidebiz.com
Question & Answer
What is the purpose of the B-Force Accelerator program launched by Black BRAND?
The B-Force Accelerator program aims to help Black entrepreneurs thrive by providing them with various business skills and addressing challenges such as access to capital.
When did the B-Force Accelerator program start and how many startups are participating?
The program began on Feb. 25 and involves 17 startups from Hampton Roads.
What aspects of the startup process are covered in the B-Force Accelerator program?
The program covers strategic and financial planning, accounting, banking, marketing, gaining access to capital, and learning how to pitch to investors.
How is the B-Force Accelerator program making its workshops accessible to entrepreneurs?
The program is free and offers workshops in the mornings, evenings, and weekends to accommodate entrepreneurs’ schedules.
