Good Evening and thank you to everyone for being here today. To the wonderful Board members of Minority Access to Capital, Inc., thank you for receiving and supporting my vision for this organization. To the brave advisory board members, both potential and those already on board, we are excited about your presence here and in the future and your involvement and advise in the future. There is much work to do---but with your guidance we understand that 2017 will be an amazing year for MATC. And finally to the members and potential members gathered here today, on behalf of all Board members of MATC, we could not and cannot continue to further our mission without you so thank you for your support.

 

Minority Access to Capital has a distinct mission: To EDUCATE and EMPOWER our business community, especially women and racial minorities, about how to access capital to grow their business and create generational wealth by EXPOSING them to sustainable resources, programs, and experiences. This is our first State of MATC---and throughout this presentation you will hear many surprising and many not so surprising statistics about the state of minorities and their access to capital. But you will also hear solutions and the vision the Board has come up with after 2 days of isolated and truthful conversations during our strategic planning meetings. Our internal Board motto is "We can and we will." But we need your help--each one of you to make this happen. We encourage every woman and every minority to #BeInTheRoom and #BeAtTheTable to be able to access the over $2 Trillion in private capital dollars in the last 10 years and for AA specially to leverage the over $1T in spending power and for women, who have proved to be more successful in business than men, to become on par with their male counterparts in respect in their industries and access to capital resources.

 

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What To Do With Your Dollars to Make Real Change

We can create change by voting and advocating with our dollars 

There is $1.3 trillion dollars in African American spending power. Let me say that again—$1.3 TRILLION in spending power—based on Nielsen’s African Americans are More Relevant Than Ever report projection of African American spending power in the United States this year.  That’s a lot of power for the over 42 million African Americans in the United States. We aren’t fully using that power but the time to start is now!

 

 

 

African American Spending Power in Perspective

 

Let me put this $1.3 trillion dollars in perspective: This is around the same amount of the United States defense budget for two years. Additionally, $1.3 trillion is more than over half of U.S. states’ budgets combined I don’t know about you, but that’s a LOT of power and dollars. Therefore, it’s time to start using those $1.3 trillion dollars to make some sense for our community, the outcomes of which could be social and economic justice.

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For all its so-called innovation and egalitarianism, Silicon Valley may remain just as problematic as the rest of America when it comes to the pay gap between African-American and white workers.

According to a study by Hired, a San Francisco-based tech worker recruiting firm, the average African-American candidate is 49% more likely to get hired than the average white candidate in the tech industry’s two largest markets, San Francisco and New York.

But when it comes to actual salaries, African-American tech workers — software engineers, in particular — woefully fall behind. According to the report, that’s because they ask for and receive significantly lower salaries: $113,000 and $115,000, respectively, versus their white counterparts who ask for and receive salaries ....

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The nation’s smallest businesses reported a greater interest in accessing capital during Q4 to expand their business, a signal that they are optimistic about market conditions and their growth potential leading into 2014, according to the Q4 2013 Private Capital Access (PCA) study from Dun & Bradstreet Credibility Corp. and Pepperdine University’s Graziadio School of Business and Management.

Read the full report.
See the results for businesses with less than $500,000 in annual revenue.

Atlanta hardware startup Luma has raised $12.5 million in a Series A investment led by Accel Partners, with a significant investment from the Amazon Alexa Fund.

Atlanta enterprise information security entrepreneurs Paul Judge and Mike Van Bruinisse co-founded Luma, a home wireless router that claims to eradicate the problem of dead WiFi spots and offer business-grade security.