Advertisement

Startups Weekly: The George Floyd protests come home to the tech industry

startups weekly: the george floyd protests come home to the tech industry

BEGIN ARTICLE PREVIEW:

The tech industry has generally wished that structural discrimination would go away, while pretending that it already has. But technology can be used by anyone for anything. And so, the world has watched video after video of police brutality against Black people in a real-time stream that plays through the closing days of quarantine, culminating in the death of George Floyd and ongoing protests. As employees have left their remote offices to hit the streets, even executives at the largest tech companies —who would usually avoid such complications — have expressed their support officially, online.
What can we expect to change now? After all, diversity and inclusion programs have been getting cut during the pandemic, and stats on employee diversity and VC partner/portfolio demographics have not seemed to be improving quickly over the past decade, at least in aggregate.
First up, a group of Black tech leaders in the Bay Area, including TechCrunch’s Megan Rose Dickey, has put forward a widely-signed petition that specifies five goals including local support and accountability, and commitment to hiring and investing in Black employees and founders.
On the ground in the startup world, a considerable range of investors say they are setting aside …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE

The tech industry has a terrible track record on diversity. Here’s how 17 companies that spoke out against racism this week say they plan to improve.

Information Access and Management (IAM) Platform powers IAM Network - 60,000 + engaged information professionals worldwide.

BEGIN ARTICLE PREVIEW:

Many technology companies have shared statements of support as protesters across the country advocate for an end to systemic racism and police brutality.But many of these same companies struggle to hire and retain people of color and women from all backgrounds. Business Insider tracked what enterprise tech companies have said publicly about the ongoing protests, along with their diversity statistics for leadership and their overall workforce, and asked how they plan to promote more diverse and equitable workplaces.Visit Business Insider’s homepage for more stories.

Across the US, people are marching to protest the deaths of George Floyd, Breonna Taylor, and other Black people who have been killed by police.In response, tech companies have jumped on board, crafting blog posts and tweets to show their support for the Black Lives Matter movement. But while their messages say they stand against racism, employees within those companies have often told a different story.Silicon Valley has long been a mostly-white boys club: Underrepresented minorities like Black and Latinx people still only make up single-digit percentages of the workforce at many major tech companies. When you look at the leadership statistics, the numbers are even bleaker. Making a corporate statement opposing …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “The tech industry has a terrible track record on diversity. Here’s how 17 companies that spoke out against racism this week say they plan to improve.”

Virtual Reality #6: Maleela Hong’s Senior Story – East Greenwich News

virtual reality #6: maleela hong’s senior story – east greenwich news

BEGIN ARTICLE PREVIEW:

By Jessica Caterson
Entering her first day of high school, freshman Maleela Hong was experiencing a whirlwind of emotions. “I was slightly terrified. High school was completely different from anything I had ever done before,” she said with a laugh. Bubbly and bright eyed, Maleela had no idea what to expect from the high school. She had spent most of her educational career in private schools, and had only recently switched over to EG schools in eighth grade. Because of the team system at the middle school, Maleela didn’t know a large number of people in her grade. “I made it my goal freshman year to make new friends and connections with as many people as possible,” she recalled. “It was one of the reasons I chose public school actually. I felt like it gave me more of an opportunity to interact with different kinds of people.” 
Despite her shy demeanor, Maleela has always been a vibrant, talented, and inspiring individual. She’s never been swayed by the want to be popular and has always stayed true to who she is. “I’ve never characterized myself into any so-called stereotype,” she explained. “I just wanted to be myself and …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Virtual Reality #6: Maleela Hong’s Senior Story – East Greenwich News”

SEBI Allows Startups To Test Fintech Innovations On Live Market Investors – Inc42 Media

sebi allows startups to test fintech innovations on live market investors – inc42 media

BEGIN ARTICLE PREVIEW:

Securities and Exchange Board of India (SEBI), on Friday (June 5), rolled out a circular to pave way for financial innovations in stock exchanges through regulatory sandboxes.In the notification, the markets regulator laid the norms for fintech startups on how they can test, without hassles of registering in a controlled environment, on actual customers for promoting innovations.SEBI believes that encouraging adoption and usage of technologies can act as an instrument to develop and maintain an efficient, fair and transparent securities market ecosystem.For this, SEBI is looking to grant certain facilities and flexibilities to fintech platforms to test technologies in a live environment on a limited set of real customers for a limited time frame. “These features will be fortified with necessary safeguards for investor protection and risk mitigation,” SEBI said.The framework of the sandbox is based on a discussion paper issued by SEBI on May 29, 2019. Under this, SEBI laid out certain criteria for shortlisting the companies. At that time, however, SEBI only allowed startups to test their solutions in an offline environment.For instance, SEBI allowed all entities registered with SEBI under Section 12 of the SEBI Act 1992, shall be eligible for testing within the regulatory sandbox. An …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “SEBI Allows Startups To Test Fintech Innovations On Live Market Investors – Inc42 Media”

Fast-growing Madison Reed is eyeing men’s hair next; “We’re going to blow the doors off that market”

fast-growing madison reed is eyeing men’s hair next; “we’re going to blow the doors off that market”

BEGIN ARTICLE PREVIEW:

Amy Errett’s company, Madison Reed, sells in-home ammonia-free care color. It may not sound like a glamorous business but, as it turns out, it’s a very durable one, done the right way. Not only has the seven-year-old outfit been slowing chipping away at the dominant personal care giants like L’Oreal that have long controlled what’s currently a $30 billion market, but during one of the most dramatic economic downturns of the past century, it has been attracting new customers.
In fact, Errett — who was previously a VC with Maveron Ventures and has a side hustle as a venture partner with True Ventures — says the 300-person company is seeing revenue in excess of $100 million per year and that it will be profitable in the second half of this year. Presumably, that makes it a likely candidate for an IPO in the not-too-distant future.
We talked with Errett earlier this week about the business, which has raised $125 million to date from investors, including True Ventures, Norwest Venture Partners, and Comcast Ventures. We wanted know if, like so many other consumer companies hard hit by the pandemic, it has conducted recent layoffs, whether it is re-opening the “color bars” it …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Fast-growing Madison Reed is eyeing men’s hair next; “We’re going to blow the doors off that market””

The horrifying truth about being a Black woman founder in Canada | BetaKit

the horrifying truth about being a black woman founder in canada | betakit

BEGIN ARTICLE PREVIEW:

Of the thousands of Canadian venture deals produced from 2014 to 2019, so few Black women founders raised money that these figures are very close to nothing.
Venture capital-backed funding has doubled since 2014, going from $2 billion to $3.3 billion, 2017 showed us that 40 percent of all venture capital went to just 10 companies. Twenty-nineteen was a record-breaking year for the VC space with an astounding $6.2 billion CAD invested over 539 deals, a 69 percent increase than the $3.7 billion CAD invested in 2018 and more than 3 times the market analysis in 2013. Quarter 4 in 2019 saw the highest amount of venture-backed deals, with 144 total deals and over $1.6 billion invested.
In the tech realms, investors do not back Black women-led startups.
Compared to our south of the border counterparts figures, which are still very low, in 2018, 11 African American women raised $1 million in venture capital funding, which works out to about 0.2 percent of all venture funding in 2018.
Of those few that have raised money, the average amount of funding is $36,000. That’s compared to the average startup, usually founded by a white male, that typically fails, which raises millions on average in venture funding. While Canada ranks third globally (second to the US and China) as far as the amount of VC capital …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “The horrifying truth about being a Black woman founder in Canada | BetaKit”

Detroit tech startups offer free, reduced-cost services to small businesses

detroit tech startups offer free, reduced-cost services to small businesses

BEGIN ARTICLE PREVIEW:

Detroit — Tech startups are expanding their outreach during the COVID-19 pandemic by offering free or reduced-cost services to entrepreneurs and small companies pressed to do more things online.Internet marketing company Waymark is giving away customizable website video templates. Autobooks is waiving fees through the end of the year on its recently created payment and accounting platform. And Sift is offering its employee directory software free for six months.Through partnerships with Spectrum Reach and FordDirect, Detroit-based Waymark has given away $950,000 worth of the video templates for businesses. The offer includes a one-month free subscription and two free videos.“It’s needed so much because people are adjusting, changing their business practices on the fly,” said Nathan Labenz, the CEO of Waymark. “They’re moving to new ways of doing things… All these changes are just challenges not only for people to operationalize, but they also have to communicate that to their customers.” A woman types on a keyboard in New York. (Photo: Jenny Kane, AP)The videos will help businesses communicate changes to their customers, such as a restaurant offering takeout only. Even with no experience, he added, a person can customize a good-looking video.“Typically, our content is …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Detroit tech startups offer free, reduced-cost services to small businesses”

60 San Diego startups named Cool Companies, twice as many as last year

60 san diego startups named cool companies, twice as many as last year

BEGIN ARTICLE PREVIEW:

Innovega has developed patented contact lenses that, when combined with specialized face glasses, bring digital augmented reality to a user’s field of view without a bulky headset.Vivid Genomics uses machine learning and genetic based profiling to produce tests aimed at improving drug development for Alzheimer’s disease.Educational Vision Technologies has developed an automated video platform that enables colleges to deliver virtual lectures — complete with searchable notes and slides — to students taking classes online without extra work for professors.These three San Diego start-ups are among the 60 firms selected at as this year’s Cool Companies by Connect/San Diego Venture Group.
Advertisement

“The breadth and depth of the companies applying is what really excites us,” said Mike Krenn, chief executive of Connect. “And the companies were just so darn good, we chose twice as many as last year.”Cool Companies is designed to spotlight promising San Diego technology and life sciences startups that are ready to move beyond seed funding and into raising their first round of venture capital funding. More than 200 companies apply each year.Connect/San Diego Venture Group, which merged last year, typically hosts a live event where Cool Companies can show off to …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “60 San Diego startups named Cool Companies, twice as many as last year”

Today In Payments: PayFort To Boost Startups | PYMNTS.com

today in payments: payfort to boost startups | pymnts.com

BEGIN ARTICLE PREVIEW:

In today’s top news, Amazon is looking at buying a stake in India’s Bharti Airtel, and the Trump administration expects the next round of stimulus funding to hit $1 trillion. Plus, Grab expands its shopping and delivery app to eight countries in Southeast Asia.Amazon Eyes Deal For $2B Stake In Indian Telecom Bharti AirtelAmazon may become the latest American tech giant to buy its way into India’s fast-growing telecom market as it eyes a deal to take a $2 billion stake in Bharti Airtel, India’s third-largest telecom operator. The potential move could reshuffle India’s mobile market by infusing cash into the up-and-coming telecom as it challenges the market’s dominant player, Jio, which has recently received major investments by U.S.-based tech companies.Next Economic Stimulus Package Could Hit $1TThe Trump administration anticipates a $1 trillion figure could be in the cards for the next round of stimulus funding, with an eye toward possibly including back-to-work incentives, liability protections and more. Talks on the matter that had been scheduled for this week have been delayed, however, and McConnell said no action on additional stimulus measures will be taken before the two-week recess that begins July 3.Grab …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Today In Payments: PayFort To Boost Startups | PYMNTS.com”

Virtual reality could change schooling in ‘way we’ve not seen before’

virtual reality could change schooling in ‘way we’ve not seen before’

BEGIN ARTICLE PREVIEW:

Rob Theriault, Georgian College’s immersive technology lead, is exploring the application of virtual reality technology to education. (Supplied)

Virtual-reality learning is in its infancy and Georgian College has begun looking at its applications across all faculties, Georgian’s Rob Theriault said Friday.Paramedics at Georgian started using the immersive technology in 2019, which Theriault introduced to the program which he’s taught for 25 years.Now he’s the college’s “immersive technology lead,” responsible for seeing what other applications there may be for the technology, he said by phone Friday. He said his position is unique in Ontario and maybe Canada.Virtual reality participants wear a head-mounted display while holding hand controllers, giving the sensation of being in the middle of and interacting amid a realistic video game-like environment.Theriault said the ongoing pandemic has added urgency to improve distance-learning experiences because colleges and universities must figure out how to offer hands-on labs and respect social distancing to limit the respiratory virus’s spread.“My hope with virtual reality will be a shortening of the learning curve, there’ll be an ability to learn skills and procedures in a way that can’t be replicated in a Zoom call.”Theriault said …

END ARTICLE PREVIEW

READ MORE FROM SOURCE ARTICLE Continue reading “Virtual reality could change schooling in ‘way we’ve not seen before’”