Business
Angela Benton’s NewMe continues to accelerate minority entrepreneurship
Angela Benton. PHOTO/File
In a tech world where just 1 percent of startup founders are African American, it’s easy for young minority entrepreneurs to feel discouraged trying to navigate Silicon Valley. But that sense of alienation is on its way out if the digital minds behind the accelerator NewMe have their way.
With its second group of budding startups one week into the three-month program, NewMe is poised to continue making progress in its mission of broadening and demystifying the path to startup success for African American, Hispanic and female founders.
A lot of them can’t go to their parents or immediate network and say, ‘Hey, I want to start this app or this website, how do I get started?’” NewMe founder and CEO Angela Benton said in an interview.
When NewMe’s first group of startups finished the program’s inaugural session last summer, 60 percent were able to secure an average of US$92,000 in investment money from outside funders, Benton said.