Startup founders who are black receive less than 1% of venture capital funding annually, according to research from Crunchbase, Kauffman Institute and CB Insights.
Cornell’s Black Entrepreneurs in Training (BET) – founded in the spring of 2018 as a student club to inspire and inform black student entrepreneurs – is aiming to change that through the establishment of workshops, guest speakers and entrepreneurial mentorship.
BET, which runs from October to April, aims to increase the participation of students of color in Cornell’s entrepreneurship ecosystem and generate an active and visible group of black alumni who’ve founded successful companies. Each fall, the program accepts students of color who are passionate about entrepreneurship, and offers networking events and workshops.
“Connecting our BET participants with successful alumni is an invaluable learning experience, and enables them to envision their future as startup leaders,” BET co-founder Jehron Petty ’20 said.
Petty – with co-founders Ansumana Bangura ’20 and Julia Reeves ’20 – reached out to Andrea Ippolito ’06, M.Eng. ’07, lecturer in Cornell’s Engineering Management Program and program director of W.E. Cornell to establish a partnership with the Center for Regional Economic Advancement, which would allow the program to grow after the founders graduate.