The wealth gap between blacks and whites in America has risen to record highs. The median wealth of white households is 20 times that of black households and 18 times that of Hispanic households, according to a Pew Research Center analysis of newly available government data from 2010.
As a result of these declines, the typical black household had just $11,000 in wealth (assets minus debts) in 2013, the typical Hispanic household had $13,700 in wealth and the typical white household had $141,900.
Based on the best selling book inspired by the economic ideals of Dr. Martin Luther King, Jr. as interpreted through the lens of serial entrepreneur, investor, author and consecrated bishop, Rodney Sampson, Kingonomics is the definitive social impact platform providing access to expert knowledge and expert practitioners in innovation, entrepreneurship and investment.
The definitive mission of Kingonomics is to facilitate an economic and institutional platform designed to address poverty and the wealth gap via the efficient use of existing and new knowledge and best practices for innovation, entrepreneurship and investment.
This is accomplished by creating an efficient ecosystem of interconnected experts, firms, research centers, universities, thought leaders, economists, incubators, entrepreneurs, investors and advisors that are presented via Kingonomics large scale conferences, intensive trainings, learning programs, courses, curriculum and certification. Kingonomics launched #WealthMonth in February 2015.
Founded in 2013 by Rodney Sampson, Earl Coleman, Bradley Kirkland and Brandon Rickman, Opportunity Hub (OHUB) is a multi-campus entrepreneurial center that includes 17,500+ square feet of coworking space, an entrepreneurship school, code school, entrepreneurship school, accelerator and incubator. OHUB is also the vetted seal of authentic diversity and inclusion in the startup ecosystem, capital markets and beyond.
Currently headquartered in Atlanta, GA, OHUB’s definitive mission is to create and develop a diverse and inclusive highly skilled, competitive and innovative talent pool that will ideate, launch, start and scale high growth companies as entrepreneurs or “intrapreneurs”. Creating and managing an end-to end pipeline via targeted market exposure, intense engagement, immersive education and ongoing mentorship are definitive to accomplishing our mission. Our innovators and entrepreneurs also gain access to authentic advisors, innovative practices, essential resources, meaningful connections and smart capital – in sectors such as consumer facing technology, consumer products goods, supply chain innovation (and diversity) and social impact.
Created with the startup and early stage company in mind, OHUB is for anyone that is serious about working in an environment of like-minded entrepreneurs and committed to learning, implementing and sharing the knowledge, best practices and relationships formed while in our ecosystem. Via curated mentors and experts in residence, we teach our coworkers and stakeholders how to effectively navigate the innovation, entrepreneurship & investment ecosystem with confidence and definitive purpose. We also mentor new angels and “nano angels” on how to invest in startups and early stage companies.
Since inception, Opportunity Hub has had the following impact:
- Exposed 5,000+ aspiring and existing entrepreneurs to the innovation, entrepreneurship & investment ecosystem via our large-scale conferences in Atlanta and Washington, DC. Include 1,000 youth.
- Educated 1000+ entrepreneurs via our classes, meet-ups and office hours.
- Instructed 250+ entrepreneurs via our 1-day accelerators.
- Pre-Accelerated 25 startups and early stage companies through our 6-month curriculum which includes entrepreneurial mindsets, professional acumen, team building ideation, customer discovery, business model generation, entrepreneurial fundamentals (legal, accounting, marketing, sales), access to capital and pitching.
- Awarded $60,000 in code and cofounders school scholarships.
- Raised $50,000 utilizing Georgia’s intrastate crowdfunding rules
- Launched partnership with Whitehouse on Inclusive Entrepreneurship
- Ecosystem startups have raised over $5,000,000 in pre-seed and seed capital
- Created over 25 high growth jobs. Represents over 100 indirect jobs created.
- Launched #OHUBStartupSummer with Fulton County Workforce Development.
Code & Start School
A collaborative of TechSquare Labs & Opportunity Hub
Access to opportunity, particularly within the technology ecosystem, isn’t always created equal.
According to a recent USA Today article on June 26, 2014 by Jessica Guynn and Elizabeth Weise, the technology industry’s predominantly white and Asian male workforce is in danger of losing tough with the diverse nation – and world – that forms its customer base. Recently released numbers from some of the largest and most powerful companies confirm what many had suspected: Blacks and Hispanics are largely absent, and women are underrepresented in Silicon Valley – from giant companies to startup-ups to venture capital firms.
By 2020, there will be 1,000,000 more jobs and students.
Opportunity Code’s 10-year goals include:
- Launch 100 coding campuses
- Create 10,000 new coders
- Accelerate 1,000 new cofounders of startups
- Expose 1,000,000 youth to coding, careers in tech and entrepreneurship
blackangels.US, @blackinvestors, exist to identify, inspire, train, mentor and activate a new investor class amongst black high net worth individuals (HNI), corporations and private institutions while simultaneously engaging existing angel and venture communities for mentorship and access to diverse deal flow.
Initially blackangels.US will target working professionals, existing government contractors and companies that procure contracts from large corporations via supplier diversity opportunities and teach them how to leverage their taxable income to invest while simultaneously reducing their overall tax liability. In many cases, this provides a reduced or zero risk when investing. In addition, some states like Georgia provide an Angel tax credit for investing in businesses located in Georgia.
Our message to these people and companies is that they have a responsibility to engage in the entire business ecosystem and investment cycle. Investing is the ultimate way to give back and has the greatest opportunity to create generational wealth and sustainability opportunities for generations to come.
Angel investment in startup, early stage and growth stage companies, especially in high tech, high growth and scalable industries provide the greatest opportunity for new job creation and wealth creation. This wealth is realized when these companies are sold, acquired or go public. Make no mistake — investing in startups and early stage companies can be very risky. However, when these companies succeed, they do very well. Even when they don’t succeed, they create much-needed jobs in the meantime and can provide tax incentives for many investors.