ADAN ELEVATE is the Entrepreneurship Support Program of ADAN e.V. which aims at enabling BPoC (Black and People of Colour) to pursue their Entrepreneurial journey.
Aspiring BPoC Founders still face significant barriers when it comes to starting their businesses. These challenges often result from racial bias which manifests in society and has left ethnic minorities marginalised in regards to Entrepreneurship. In addition to this, there is the challenge of often lower socioeconomic status, which makes it more difficult for BPoC to access the information and financial flexibility required to realise their business ideas. Looking at the Start-up ecosystem, there is also a strong bias in the field of Venture Capital Financing where surveys show, that BPoC founders are excluded from the opportunities of equity investment at the very early stage of business development. Specifically, BPoC women are underrepresented disproportionately when it comes to Venture Capital financing (Cornerstone Partners, 2021).
Our aim is to provide tailor-made activities that address major challenges BPoC face while embarking on their journey to starting a business. The learnings from our survey served as the foundation to effectively support and enable the BPoC Entrepreneurial ecosystem with the following 4 activations:
ADAN Elevate “Blog”: A Blog with relevant insights on the topic of Entrepreneurship
ADAN Elevate “Meet the Founders”: Event series with successful BPoC Founders
ADAN Elevate “Accelerator Program”: 6-week Accelerator Program for aspiring Founders
ADAN Elevate “Investor Day”: Pitcheven for existing BPoC Entrepreneurs