As August, is National Black Business Month it is a time to recognize the many black-owned businesses across the country that sometimes go unrecognized. We have the distinct pleasure of not only shining the light on a black-owned business but one that is owned by two sharp & tech-savvy co-founders of Black Women Talk Tech. Esosa Ighodaro- Johnson & Regina Gwynn decided that gravity was pulling them together upon several more than chance encounters & decided that two heads are better than one when founding their now majorly successful technological business. They are helping to shift the narrative & change the landscape of not one but two minority groups that are not always taken seriously in the world of business let alone the Caucasian male-dominated world of tech. Read on to see how they are beating the doors down & showing that they have what it takes not only to sustain but to change the diverse world of technology that goes beyond our sometimes common knowledge & limited perspectives of this vast terrain.
What inspired you to get into technology?
Technology has surpassed our wildest imaginations within the past ten years. Tech is all around us. Most people hear the word tech and think it stops at electronic devices, which couldn’t be further from the truth. There are generally six different categories: communication, electrical, energy, manufacturing, medical, and transportation. Black Women Talk Tech was created through our conversations around the challenges in fundraising, finding technical talent, and advisors. Those talks rolled into action which led us to create a platform that grants opportunities to resource ourselves towards building our tech startups.
What were some key points in the initial conversation you had together that made you want to join forces?
We actually kept seeing each other at the same events in the city. One thing we noticed was that many of the times we were the only black people in the room. It quickly became our mission to close the gap between black women and their peers who are in the same workspace yet do not have an equal playing field in terms of wages earned and received.
What are some important conversations that should be had regarding women in tech and/ or entrepreneurship?
Diversity in leadership yields a better return on investment and product/ innovative solutions for the marketplace. Women in tech and entrepreneurship are grossly underrepresented, however, we are prevalent. It’s just a matter of opening your eyes and looking around the room. If you want to be a leader, let it be known. Use the tools around you to cultivate your business. Start with that small handheld object that connects you to the world. Your phone gives you access to every platform to grow your business via social media, websites, contact information, etc. Don’t know where to start? Let Google be your best friend and resource.
What are some of your favorite tools that can be learned from the tech conferences?
Let’s start with funding. Challenges we face as black women include access to funding, funding through business avenues is a slow burn. We also face higher interest rates. In addition, there is a need for talent to scale the amazing opportunities. For Black women and tech startups when it comes to funding it’s dance because women get less funding than men and that margin is even smaller for Black women. At our annual Roadmap to the Billions conference, we focus on 4 main pillars: education, promotion, research, and funding. The platform provides a job board for members to search for programs and courses to be involved in that including our annual Roadmap to the Billions conference and investor matchmaking. It also, allows you to network with people who you would rarely get the opportunity to schedule a meeting with. Relationships are formed at conferences that parlay into big business deals.
Are there any exciting companies to be on the lookout for? This year’s pitch competition winner at the 6th Annual Roadmap to Billions Tisia Xiare Vere Saffold, CEO of Cleare, a compliance software that keeps home and centers daycares “Cleare” of licensing violations. They are allowing companies to go green with a paperless portal from start to finish. Cleare is innovative and puts the well-being of our most precious possessions first, our children who are truly our future.
What unique characteristics do you think black women contribute to the tech space or entrepreneurship in general?
There are numerous statistical findings that prove that diversity in leadership yields a better return on investment and product/innovative solutions for the marketplace. It will inherently increase the quality of life for more people if this happens more often,
Is inclusivity still an issue in Big Tech?
Without a doubt. White employees account for 62% of the tech industry labor force. In comparison, Black Americans represent 7% of tech employees, 8% of tech jobs are held by Latinx Americans, & Asian Americans account for 20% of the technology field. Black women represent 12.9% of the female population. In the first half of 2021, startups overall raised a record-breaking $147 billion. Only 1.2 percent of it went to black founders. In 2020, Black founders received 0.6 percent of all venture capital deployed. Take those percentages, divide that in half, and divide it in half again. Funding opportunities have not been the nicest for women of color, especially Black Women and oftentimes people just take meetings to make DEI quotas.
What were some strategies for maintaining your mental health while building a startup?
Physical and mental health go hand in hand. It is easy to be obsessed with your baby during inception, but it is imperative that you take breaks. Meditation, walks in nature, listening to music, and talking to your inner circle about life. Give yourself room to breathe. Balance is key. It’s true what they say, you can’t pour from an empty cup.
Do you have a Mount Rushmore of entrepreneurs?
You cannot talk about entrepreneurship and tech without giving a nod to Steve Jobs. A self-made billionaire who happens to be a black woman, the incomparable Oprah Winfrey. Buying his first stock at age 11, the world’s second richest person on the planet, and the most philanthropic Warren Buffet. Last, but not least, a man who did not become a victim of his circumstances and let his prowess show that black men are valued and can be heads of numerous companies, Shawn “Jay-z” Carter.
What is one piece of advice you wish you were given before starting your career?
Speak up and speak often. Make your presence known in every room that you enter in the most productive and positive way you possibly can. If you do that thing that scares you the most right now, this time next year you will look back only to see how far you have come.
Leadership & loyalty clearly seem to be the key to success in these friends’ & business partners’ careers. Choosing not to be selfish with the knowledge they have gained they continue to groom & grow other women who are in the minority & thirsty to grow in the six booming areas of tech as they have. Providing conferences & networking opportunities through BWTT or Black Women Talk Tech it is clear that they are a force to be reckoned with & are planning to be here to stay for the long run.
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