At Black Innovation Alliance, we asked our members to share what they see as future trends in Black innovation. This is what they shared.
Expect the Unexpected
Our future will involve Black people at the helm of innovation in ways previously unseen. From climate science to space exploration, Black entrepreneurs are making their presence known in industries that have previously written them off or counted them out.
Capitalism re-imagined
Capitalism currently is extractive. And Black people have experienced the brunt of its collateral damage. As a result, African Americans are increasingly piloting new political and economic models that center the collective and advance participatory and distributive ways.
Black Culture is the New Black
From country music to K-Pop, history is replete with stories of how Black people have been left out of the commodification of Black culture. And we’re over it. So keep an eye out for the emergence of culture-based businesses that explore new ways to value Black culture and protect it.
Embracing the New Normal
The global pandemic has likewise brought about the emergence of pandemic businesses.(include stat about start-ups). This goes beyond digital transformation and business productivity to include the emergence of more bespoke industry segments. The digital sphere produces fewer barriers, and Black entrepreneurs will take advantage of the opportunity.
Rise of the Hardware Entrepreneur
As core technology components like the microchip get cheaper, expect more Black innovators doubling down on building physical products. As people long more for the physical world, there will be increased opportunities for startups capable of bridging the divide.
Social Justice X Technology
In the wake of the most significant racial uprising in a generation, Black innovators are leveraging technology to hold the powerful accountable. From public interest tech to civic engagement applications, Black entrepreneurs are building innovative solutions dedicated to advancing the movement.
Productizing DEI
Racial unrest paired with significant demographic shifts has corporations scrambling to address diversity, equity, and inclusion (DEI). They are being met by a cadre of intelligent innovators leveraging artificial intelligence and machine learning to filter racial bias and produce more anti-racist organizations.
Accessing Decentralized Finance
Black people are not waiting for the funding landscape to evolve and navigate the racial bias that persists in the financial system. Instead, they seek new, more inclusive funding strategies that rely less on pattern matching and prejudices. Crypto and fintech startups are just the beginning.
Surging Creative Industry
Black creativity is on ten! Black creative entrepreneurs are leveling up, building agencies with significant scope and scale. They bring vibrancy and freshness to the historically lily-white agency space and a voice that will not be denied.
Building Across the Diaspora
From the American South to the UK and everything between, there is a yearning for Black people across the Diaspora to identify ways to collaborate, invest, build and grow together.
Do these resonate? What are you seeing? We’d love to hear from you.
If you’d like to explore opportunities to partner with Black Innovation Alliance and our members, reach out to Tammy Charles at [email protected].
