THE BLACK TECH EFFECT
Joint Letter (The Plug x Omidyar)
Society, technology, and media industries have experienced a tremendous shift in the last few years, with 2020’s racial reckoning serving as a central inflection point as the murder of George Floyd pushed these spaces to reconsider how their platforms and observations skipped out on Black business and leadership. Almost immediately, the digital pages of publishers for influential brands listed Black-owned businesses, products, and services galore—some made pledges to provide more shelf space across the board to more diverse creators.
The recognition and visibility were both palatable and potent. With the increased amplification, came greater access to capital as additional VC funds emerged to support underserved founders. And while the funding landscape remains grossly inequitable, Black founders leading cutting-edge technology and platforms have yet to slow down.
This report reflects our year-long effort to dive deeper into companies paving a path toward the future, many of which are having their time in the spotlight for the very first time.
We sought out solution-oriented, problem-solving companies that are tackling society's most pressing challenges, and leveraged data to bring to your attention the work and mission of founders who are defying the odds and building sustainably and purposefully.
We are beyond thrilled to present The Black Tech Effect Report and hope the insights and learnings you gain will serve your work in the future.
The Plug & The Tech We Want, a program of Omidyar Network