In an effort to help offset systemic racial and gender-based inequality for diverse founders, public relations agency SourceCode Communications, employee experience agency Cheer Partners, influencer agency Social Studies, and performance marketing agency Superbolt are uniting to form the Diversity Marketing Consortium. In partnership with Harlem Capital (HCP), an early-stage venture capital firm committed to investing in underrepresented founders, the group commits to providing $1.5 million in marketing services to women and minority-led startups over the course of two years.
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Diversity Marketing Consortium launches in partnership with @HarlemCapital to support women and minority-led startups
The Diversity Marketing Consortium was formed with a mutual recognition that women and minorities do not have equal access to opportunities, a structural reality in our country that has been highlighted by continued racial injustices. Further, the COVID-19 pandemic has exacerbated such inequities, disproportionately impacting women and minority-owned businesses. Between February and April 2020, the number of women-owned businesses declined by 25% while the number of Black and Latinx owned businesses decreased by 41% and 32%, respectively. While our country works to repair such systemic inequities, the Diversity Marketing Consortium aims to provide support to underrepresented businesses immediately. The time for change is now, and long overdue.
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“As a Black-led investment firm focused on economically empowering women and minority founders, we are driven by our charge to help underrepresented startup teams thrive. We are excited to partner with the Diversity Marketing Consortium to help accelerate diverse founders in our portfolio and in the startup ecosystem,” said Harlem Capital Managing Partner, Henri Pierre-Jacques.
The Diversity Marketing Consortium commits to providing $1.5 million in marketing services to diverse founders over the course of two years in partnership with Harlem Capital. The recipient companies will include those in HCP’s portfolio as well as other startups via an open call for applicants and HCP’s pitch competition.
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