EO’s Future 100 Growth Fund announces first cohort of successful Black businesses
The partnership with Sky Group will initially support 22 businesses with funding, support and mentorship
28th Sept 2022, London, UK: The Black Equity Organisation today announces the first cohort of Black businesses and founders who will participate in the new Future 100 Growth Fund, its £1million partnership with Sky Group to grow Black businesses across the UK.
The Future 100 (F100) Growth Fund is an ambitious three- year programme that provides funding, mentoring, support and access to corporate supply chains, for the selected companies.
According to research from Extend Ventures, in the 10 years from 2009-2019 only 0.24% of venture capital went to Black entrepreneurs – a total of 38 businesses. Just 0.02% went to Black female entrepreneurs.
The F100 programme aims to overcome some of these significant barriers for young Black entrepreneurs in Britain when setting up businesses and will therefore, support Black entrepreneurs who are looking to bring a business concept to life, have a fledgling business that they want to scale, or have the beginnings of a thriving business.
The 22 companies in the first cohort come from across the UK and span health, education and digital creative industries. The successful businesses are:
Timi Okuwa, interim CEO of the Black Equity Organisation, said: “We are delighted to announce the first cohort of the F100 programme and can’t wait to start working with them all. Economic empowerment is one of our six key pillars, and our programme and support will help the chosen companies to drive their businesses forward at a time when Black founders and entrepreneurs continue to face challenges on everything from getting investment to getting access to supply chains. BEO is committed to supported Black People. We look forward to going on this journey with them.”
The Future 100 Growth Fund: