The 2021 Annual Report is a great culmination of BIA’s first full-year in action.
It’s packed with information about all of our programs, goals, and the major milestones we reached in the last year. We highly recommend that you download to digest it all — but here’s a quick recap of some of our proudest achievements:
- In 2021, we managed to generate $882,451 in revenue, which includes charitable grants, corporate sponsorships, and earned revenue.
- Our membership has seen an incredible 42% increase from 37 to 64 organizations.
- Many of our initiatives were featured in a variety of prominent media outlets, including AfroTech, TechCrunch, and Forbes.
Even more exciting, by the end of 2021, we directed $615,000 in revenue to 32 of our member ISOs (innovator support organizations).
More Highlights Include:
Resource
Resource is the product of a partnership between BIA and Village Capital, with the goal of supporting and connecting entrepreneur support organizations (ESOs) that are led by and focused on founders of color.
Since Resource’s launch, $890,000 in grants have gone to Black, Brown, and Indigenous ESOs, with $500,000 of that amount being allocated to 23 of our very own BIA member organizations.
Not only has the Resource program allowed us to have a major impact, it is a great model for how mature white-led intermediaries might partner with younger intermediaries led by people of color to do good work in communities of color.
CensUs
When trying to identify and solve problems that black entrepreneurs face, it’s simply not enough to attempt to come up with ways of addressing roadblocks—we need to also have solid intel to do that effectively. We have to ensure that programs are data-based so that we know exactly what we’re up against and are equipped to create more effective strategies.
Through CensUs, our national research initiative in partnership with the Center for Black Innovation, we were able to provide that strategic, intelligence-centered guidance to funders, investors, and corporations from all over the nation.
COVID-19 Relief Grants
Through the generous support of the Surdna Foundation , we allocated $50,000 in grants to our member organizations hit hard by the effects of the COVID-19 pandemic.
And the best part about this initiative is that it was entirely peer-led—our members had a say in everything from the grant criteria to the selection of the grantees to deciding how much each grantee would receive.
Web Summit
Due to the pandemic, practically all of our events have been virtual which is why our last initiative in 2021 was such a breath of fresh air. This past November, we were able to take 15 of our members from six different organizations all the way to Lisbon, Portugal for Web Summit.
Being able to have dialogues and network with such an eclectic group of technologists and innovators provided a much more comprehensive view of the work that’s being done not just in the United States, but also on a global level.
Check out this video to get a peek into our adventure.
So, what’s next for BIA?
Last year was an expansive time for us and we have no plans of taking our foot off the gas.
We kicked the year off with BLADE Con, and in May, we’ll host the BIA Sustainability Summit, a 3-day in person event that will focus on helping our members build long-lasting organizations.
Following that will be our Back in Black Roadshow in the summer, which will be a virtual tour showcasing the importance of digital readiness as we share some extraordinary stories of how black businesses survived COVID-19.
We have even more initiatives and programs planned that we’ll be rolling out all year long, so we hope you’re ready to join us for the ride. Stay tuned for more!
