The New Builders: Face To Face With The TRUE Future Of Business

People starting new businesses today are not who you think they are. Contrary to the myth of the white, male tech founder that dominates our mindshare, most new businesses are started by people who are Black, brown, female, and older.

The number of women-owned businesses has increased 31 times between 1972 and 2018 (in 1972, women-owned businesses accounted for just 4.6% of all firms; in 2018 that figure was 40%). The fastest-growing group of female entrepreneurs is women of color, who are responsible for 64% of new women-owned businesses being created. We believe women will soon make up more than half of the entrepreneurs in America. The age of the average American entrepreneur also belies conventional wisdom: It’s 42.

These New Builders are redefining our business landscape while creating success on their own terms, in businesses that allow them to pursue their passions and to support their communities and families. But we’re failing to support this next generation of entrepreneurs and as a result, entrepreneurship in the United States – despite popular belief – has been declining.

“Examining the deep history of entrepreneurship in this country, often driven by women, immigrants and people of color, The New Builders tells the stories of the unsung entrepreneurs of yesterday and today. In so doing, the book makes a compelling case that these entrepreneurs should have access to the funds and networks that they need to nurture and grow their businesses.” – Katharine Weymouth, Former CEO and Publisher, The Washington Post

Check out updates about book releases, media interviews, and social updates through their Twitter, Instagram, Facebook, and LinkedIn.

About the Authors

Seth Levine is a partner and co-founder at the Boulder, CO,-based venture capital firm Foundry Group, which as of the end of 2020 had almost $3 billion in assets under management. In addition to his work at Foundry, Seth actively supports entrepreneurs around the country and across the world. He co-founded Pledge 1%, a global network of companies that have pledged equity, time, and product back to their local communities. He is an advisor to funds and to companies around the globe. Seth blogs regularly about venture capital and the capital markets at sethlevine.com.

Elizabeth MacBride is an award-winning business journalist and the founder of Times of Entrepreneurship, a new publication telling the stories of entrepreneurs beyond Silicon Valley. A former managing editor of Crain’s New York Business, her work has appeared in Forbes, Newsweek, The Washington Post, Quartz, HBR.com, and many others. Elizabeth was a writing fellow at the UN’s Office of the Quartet in Jerusalem and was named a rising leader by the Aspen Institute’s Socrates Program. She is journalist-in-residence at MIT’s Legatum Center for Development & Entrepreneurship.

Pledge 1%’s #WomenWhoLead series celebrates female leaders who are paving the way for the next generation. While our featured leaders come from a variety of backgrounds and industries, they are united in their efforts to promote equality for all women in the workplace. We’ve asked them to share a bit about their journey to success, as well as lessons they’ve learned along the way.

What is your name and title?

Lisa Cole, Director of Programming, K2I (Kindergarten to Industry) Academy at Lassonde School of Engineering, York University.

Briefly (1-2 sentences) describe your current role.

Leading the K2I Academy at the Lassonde School of Engineering to create more equitable and inclusive opportunities for youth in Engineering, Computer Science and Earth & Atmospheric Science. K2I is working differently with innovative partners from kindergarten to industry with a shared purpose – to dismantle systemic barriers and to build sustainable programs that diversify representation in STEM professions.

How did you get here? Please share any quick stories from past work experiences.

I started my career as a secondary physics and science educator. I fell into teaching while finishing up my undergraduate degree in physics. I remember my conversation with Edith Engelberg in the halls of the Rutherford Physics Building at McGill at the time – a time when life circumstances sometimes takes you on a different journey – a journey not planned and unexpected. She said, “We need great physics teachers” and encouraged me to consider teaching. I guess this is where it started – 14 years in the classroom trying my best to figure out “teaching”. I think fondly about that time because I saw each of my students as my teachers – showing me how I should teach. I remember moments when I fell short as an educator and wish I could find them to apologize and make things right – and let them know that they have taught me valuable life lessons that I keep close to me now.

I bring what I learned in my physics degree to my work. I love understanding complex systems, dissecting apart its components, and thinking about the challenges we might consider tackling. I am forever curious and full of questions. I think this part of who I am brought me to new experiences that has eventually brought me to this work. My curiosity, questions, passion for STEM education, and commitment to equity, diversity and inclusion is what brought me to Lassonde to lead the K2I Academy work. My experience working Durham District School Board as a program facilitator in Science and STEM brought me insights to the needs of K-12 educators, elementary and secondary schools, and communities. Working at the Ministry of Education gave me insights into policies and government. I share this here because how I got here, has really been a journey and I am certain that the work we do at K2I Academy is shaped by this journey that brought me to this place at this time.

With an innovative Dean of Engineering, Jane Goodyer, bold enough to create the K2I Academy, I feel privileged to do this work alongside my role model and mentor.

In your opinion, what’s the #1 decision or move you’ve made that has helped advance your career?

My journey to where I am today is dedicated to the many people that I have had the privilege of working with. I would say my career is built on networks and the generosity of people and organizations that have fueled my curiosity and entertained my questions. I think the first time I reached out beyond the walls of my own classroom was when I applied to the EinsteinPlus Teacher workshop at the Perimeter Institute for Theoretical Physics. The application was sent to me 1 day past the due date and it was by chance it was sent to me. I remember emailing Greg Dick (he may not remember that I did back then) to see if it was too late to apply. Thank you Greg for taking a chance and letting me submit my application. I think it was there I met mentors and collaborators which I still connect with today.

What is the most important lesson you’ve learned this past year?

Being adaptive and flexible is so important. People first. Be actively listening and be ready to be responsive. Be kind. Be present. Be open.

What’s the number one challenge you face as a woman in your industry?

There are lots of women in K-12 education. There are not many women, however, who would have studied physics and I have memories about that time – as a young adult trying to figure out who you are, what you might want to become, and feeling the pressures of academic performance and not finding the mentors you might need. Coming back to the present, what I do know is that holding a titled leadership role is an interesting space for women still. I am still new to this role and feel so fortunate to be surrounded by a team and community at Lassonde where I feel completely accepted for who I am. I think strong examples are needed and modelled.

Do you have any mentors? What does mentorship mean to you?

I feel so fortunate to have met many people who I would name as mentors. I have colleagues who continuously support and provide guidance in the areas that they have expertise that I don’t hold. I have leaders who have always created the time and space to be my sounding board, to remove barriers and obstacles that get in the way of work, to create opportunities that push my thinking, creates the space to develop personally and professionally, and actively listen to provide thoughtful and meaningful feedback.

Mentorship is so important for professional growth. It allows people to develop skills with guidance and support. Creates the brave space where you confront tensions and ideas as a rehearsal before you must perform. Meaningful mentorship often is reciprocal. I have learned that the most rewarding and meaningful mentorship relationships are when you feel that you can also offer something in return. Becoming an advocate is also part of mentorship. To be willing to support behind the scenes but also publically when the mentee requests and/or needs it is also important. I only hope that I can become the kind of mentor that others have been for me.

What advice do you have for women who are just starting their career?

Create a network of people around you. Reach out to people and connect with those who you are most curious about. Ask questions. Put yourself out there. Seek out advisors, advocates, and mentors that will support you as learn about who you are, what you want to do, and how you wish to pursue your goals.

What is one thing companies can do, big or small, to help create an environment that advances women into leadership positions?

As I build K2I Academy, we are designing onboarding processes that will be grounded in equity, diversity, and inclusion as a key component of the learning. It is important to teams to learn together that creates the culture we need. Anti-racism and Anti-oppression work starts with the individual but only becomes a part of the culture if this work is done together.

What is one thing you hope to accomplish in the next year?

As we build K2I Academy, my colleague, Michelle Tsui-Woods, Associate Director of Operations and Development, will be building a team to work with innovative partners to address systemic challenges in K-12 STEM education. We are interested in seeking out innovative partners who will do this work with us.

Is there a cause that is particularly close to you? If so, why this cause and how did you get involved?

Equity, Diversity, and Inclusion in STEM will always be important to me. I believe that the complex challenges in our society need diverse people in STEM in order to create the innovative solutions our world needs. We know we need to do better and many have been doing this work – yet we still face challenges in certain fields of STEM. Creating more equitable opportunities will remove the system barriers to access STEM post-secondary studies. For this reason, I am committed to the work of K2I Academy. We will continue to work with educational partners to bring STEM to life in schools and create innovative programs including work-integrated learning programs that for underrepresented students in STEM, including Women, Black Youth, Indigenous Youth, 2SLGBTQ youth.

What do you like to do outside of the office? Any interesting (or unique) habits or interests?

I am a mother of two amazing kids and partner to a life partner for over 25 years. I enjoy knitting, drawing, and watching movies (especially with popcorn).

Are you reading/listening to anything interesting at the moment? Please share your most recent favorite book or podcast!

I have just finished reading, How to be an Antiracist by Ibram X. Kendi and started to reread Braiding Sweetgrass by Robin Wall Kimmerer.

What’s been the one (or two!) things that have helped you navigate this past year? Any tips or tricks to dealing with remote work?

I have learned to get to the things I can, become better are prioritizing, and learning to become more adaptive. I’m not sure I have really figured out the work-life balance many people talk about. My work and personal missions are so interconnected that I find it hard to disconnect at times – especially now when I know that the work I do could mean so much to others. I am fortunate to have a life partner and family who keeps me grounded and helps me to remember to take care of myself.

Philanthropic funding from 43 companies will go toward organizations responding to the COVID-19 crisis in India, with a focus on medical supplies, vaccine awareness and distribution, and food security.

The current COVID-19 crisis in India underscores how deeply interconnected we all are. Responding to this devastating wave of the pandemic requires companies and sectors to stand together in an urgent, coordinated effort. At Pledge 1%, we are proud to join forces with other companies here in the Bay Area and globally to drive an initial $28M+ in collective funding for organizations meeting pressing needs across India.

This joint commitment is a continuation and extension of an ongoing collaborative, which launched at the start of the pandemic, initially mobilizing $22 million to support global relief efforts.

To increase our collective impact, unify response efforts, and inspire others to get involved, 43 companies are again joining forces to support a set of common needs across India. Initial funding will provide medical equipment and supplies, such as oxygen, medication, pulse oximeters, and PPE; increase vaccine confidence and support community vaccination sites; and provide food and other essential goods to those facing hunger, illness and economic insecurity.

Companies collectively supported organizations closest to these needs. The American India Foundation received donations from Adobe, Atlassian Foundation, Dropbox, Palo Alto Networks and Pure Storage to source ventilators for hospitals and deliver hygiene kits and supplies to frontline health workers and migrant communities.

Auth0, Cisco, Dropbox, Lookout, Marqeta, Medallia, Okta, Inc. and SurveyMonkey all donated a portion of their funds to CARE India or CARE USA to provide essential hospital services, beds, and life support systems across 14 states in partnership with central and state governments in India.

“Philanthropic support from global corporates is critical at this moment when India is facing an unprecedented crisis from the second wave of Covid19” said Manoj Gopalakrishna, CEO, CARE India. “We are grateful that companies around the world are coming together to support communities across India.“

Through the United Way of Hyderabad, a partner of Salesforce, the coalition is addressing food and economic insecurity, in addition to supporting the establishment of community isolation centers, providing medical supplies, and advancing vaccine awareness and uptake.

“The crisis we’re facing has led to a set of interconnected and urgent needs, for food and economic relief in addition to healthcare,” said Rekha Srinivasan, CEO, United Way of Hyderabad. “It’s paramount that we address these needs collectively.”

As companies aligned on a global movement for social impact, we understand the importance of taking a trust-based, community-driven approach and aggregating our giving power to rapidly deploy resources where they’re needed most. Some companies, including Atlassian Foundation, Autodesk, DocuSign, NetApp, Palo Alto Networks, ServiceNow, and Twilio, have doubled their employee match contributions for India relief efforts. In addition, coalition members are supporting nonprofit partners beyond philanthropic funding by donating products, in-kind supplies, and employee time.

Two Pledge 1% companies, Flexport and Salesforce, have joined forces to source and deliver oxygen concentrators to trusted nonprofit partners meeting critical COVID-related needs. Flexport’s nonprofit arm, Flexport.org also enables organizations to deliver global aid and impact through its Frontline Responders Fund, which delivered over 54 million units of masks, food aid, medical and relief supplies to 5 continents around the world in 2020 and is now focused on India relief.

Organizations like Uber and EdelGive Foundation, are leveraging their unique strengths for impact. In addition to corporate donations, Uber is helping drivers on its platform access vaccines and transporting individuals from marginalized communities to vaccination centers. EdelGive Foundation—a Mumbai-based Pledge 1% member building and expanding philanthropy across India—is committed to raising $10M through its networks to sustain 100 small- to medium-sized NGOs across India over the next 24 months.

“We are proud to drive this effort in partnership with leading corporate citizens. Over the last year, we’ve reaffirmed that our impact is strongest when we come together as a collective, committed to meeting urgent needs and addressing the deep-rooted inequities exposed by this global pandemic,” said Amy Lesnick, CEO of Pledge 1%.

We are inspired by the many companies who have joined this initiative, including: Adobe, Appfire, Atlassian Foundation, Auth0, Autodesk, Box, Cisco, Coupa Software, Crunchbase, DocuSign, Dropbox, EdelGive Foundation, Flexport, GitHub, HP Foundation, LogMeIn, Lookout, Marqeta, Medallia, NetApp, Okta, Inc., PagerDuty, Palo Alto Networks, Pledge, Pledge 1%, Puppet, Inc., Pure Storage, Rand Properties, Remitly, Salesforce, SAP, ServiceNow, Silicon Valley Bank, TIBCO Software Inc., Twilio, Uber, Upwork, Unity, VMware, Vodafone Americas Foundation, Walmart, Western Digital, Workday, and Zoom Video Communications.

We urge other companies to join us in supporting our colleagues and communities in India during this evolving crisis. As we’re seeing in India, Latin America and other regions experiencing surges, it’s clear that COVID-19 knows no borders. Neither should the vaccine. We call on everyone, everywhere to play their part in helping to vaccinate the world and stop the spread. Visit Go Give One to join us in supporting global vaccine equity in partnership with COVAX.

Pledge 1%’s #WomenWhoLead series celebrates female leaders who are paving the way for the next generation. While our featured leaders come from a variety of backgrounds and industries, they are united in their efforts to promote equality for all women in the workplace. We’ve asked them to share a bit about their journey to success, as well as lessons they’ve learned along the way.

What is your name and title?

Chastity Wright, Founder of Infiltron Software Suite.

Briefly (1-2 sentences) describe your current role.

I am the founder and CTO of an IoT cybersecurity company that also mitigates risk for people of color and women for facial recognition.

How did you get here? Please share any quick stories from past work experiences.

My tech background started in the USAF as an aerospace engineer dealing with classified data and devices (cybersecurity). Once I left I bounced around to figure out which skill set from the Air Force I really want to pursue. I was fortunate enough to figure that out and start a business doing it.

In your opinion, what’s the #1 decision or move you’ve made that has helped advance your career?

Continuous learning. It’s what keeps you competitive.

What is the most important lesson you’ve learned this past year?

That you can let a loss define you or strengthen you with wisdom.

What’s the number one challenge you face as a woman in your industry?

Being seen as not knowing what I am doing, although I’ve been doing it close to 20 years now.

Do you have any mentors? What does mentorship mean to you?

Yes, mentorship is so helpful. These people can help you navigate and avoid some of the pitfalls they experienced.

What advice do you have for women who are just starting their career?

If you have several interests, try them all and see which one resonates with you the most. Once you figure that out learn as much as you can about it and other skills that intersect with it.

What is one thing companies can do, big or small, to help create an environment that advances women into leadership positions?

Intentionally create diverse company culture.

What is one thing you hope to accomplish in the next year?

To increase our clients.

Is there a cause that is particularly close to you? If so, why this cause and how did you get involved?

Yes, leveling the playing field in tech for people of color, especially women.

When did your company join Pledge 1%? What does your impact program mean to you?

We joined in 2021. Our impact means that some voices that get lost will be heard.

What do you like to do outside of the office? Any interesting (or unique) habits or interests?

I like golfing and traveling to different places especially if there’s culture and a beach involved.

Are you reading/listening to anything interesting at the moment? Please share your most recent favorite book or podcast!

A Promised Land by Barack Obama and Success Affirmations by Jack Canfield.

What’s been the one (or two!) things that have helped you navigate this past year? Any tips or tricks to dealing with remote work?

Yoga and working out. Get up from your desk every hour for 10-20 mins to move around and get your eyes off of the screen.

Originally published on The Coinbase Blog.

 

Prior to our recent direct listing, in April 2020, we partnered with Pledge 1% to build a corporate giving program that would commit 1% of Coinbase profits, equity, and employee time toward charitable activities that leverage the power of crypto to help people around the world.

 

We partnered with Pledge 1% because realize that our vision of creating economic freedom for every person and business in the world is ambitious. We also know that for it to become a reality, we’ll need to not only build the products and services that our customers want, but to also think creatively about how we can ensure that crypto gets into the hands of those who need it most.

 

We are calling our Pledge 1% program Coinbase Giving. It will be a charitable program within Coinbase, focused on a common goal of increasing economic freedom for every person and business in the world. One of the limitations of traditional corporate philanthropy is that most companies don’t have the resources or the expertise to manage their philanthropic programs, instead they rely on funding charitable organizations to achieve their public-spirited goals. Coinbase Giving is taking a different approach: a hybrid model following the path forged by other tech leaders. Coinbase Giving will not only support charities that share our mission and values, but we’ll also manage our own programs from start to finish.

 

The charities that we will support and programs that we will drive will fall into three broad categories:

 

• Increasing education around, and access to, crypto


• Accelerating the development of crypto protocols that underpin the cryptoeconomy


• Fostering the next generation of crypto talent, no matter where they are located

Our three initial areas of focus

 

1. Bringing GiveCrypto into the Coinbase family as a Coinbase 501(c)(3) foundation. GiveCrypto was founded in 2018 with a mission to financially empower people by distributing cryptocurrency globally. We’ve long had a relationship with GiveCrypto, but by transitioning its efforts into a private foundation of Coinbase we can substantially increase funding, and offer Coinbase customers the opportunity to give directly to the programs that they want to support.

The new foundation will focus its efforts on supporting and directly managing programs that seek to equalize access to financial services around the globe; use direct crypto contributions to alleviate financial hardship and unsafe situations; and encourage crypto entrepreneurship to create economic freedom.

 

That reach can be truly life-changing.

 

 

2. Expanding the Crypto Community Fund. We believe helping to connect and grow the cryptoeconomy is essential to creating economic equality. Our Crypto Community Fund aims to grow and improve the entire crypto industry, while making it simpler to use and more secure for everyone.

 

We piloted the Crypto Community Fund in October 2020 to help accelerate research and open-source projects. We have funded $200K to date — $100K to Stanford Cryptography and $100K to a Bitcoin Core development developer. In 2021 we expect to fund $2M to expand this program, and we know much more is possible.

 

3. Launching Coinbase’s partnership with Base 11 to develop the next generation of (diverse) crypto talent. We’re also announcing today our commitment to be a 3-year “Game Changer” partner of Base 11, a nonprofit STEM workforce and entrepreneur development organization that empowers women and underrepresented minorities with the access, awareness and belief needed to succeed in Next Frontier Industries of the 21st century.

 

As part of this partnership, we will be developing a Crypto Innovation Challenge program that will be unveiled later this year, to help cement crypto as a frontier industry and unlock its future talent. We’re proud to partner with Base 11 as they empower the next generation of crypto entrepreneurs and users.

 

 

Employee match program

 

In addition to the initiatives outlined above, beginning in June, we will begin matching on a one-for-one basis any employee donation to a qualified 501(c)(3) (or international equivalent) up to $500. As we pilot this program this year, we’re excited to support our team and the causes and organizations they are passionate about.

 

We believe strongly in the power of crypto to address any number of the inequities of the current financial system. But we also recognize that there is a lot to be done when it comes to creating economic freedom for every person and business in the world. As Coinbase and the cryptoeconomy grow, we’re committed to doing our part to ensure that we never stray far from crypto’s original promise of an open financial system.

 

We’re just at the beginning — but we’re here for the long term.

 

About Pledge 1%

 

Pledge 1% is a global movement that inspires, educates, and empowers every entrepreneur, company, and employee to be a force for good. Over 12,000 members in 100 countries around the world have used Pledge 1%’s flexible framework to ignite billions of dollars and hundreds of thousands of volunteer hours in new philanthropy. To learn more about Pledge 1%, and how your company can get involved, visit pledge1percent.org.

Originally published on socialchamp.io. Written by Marium Fahim Khan.

Social Champ Joins the Pledge 1% Movement and Pledges to Donate 1% of Time and Product to the Community

Today we joined Pledge 1%, a global movement to create a new normal for companies of all sizes and stages to positively impact their business. Social Champ is joining over 12,000 companies worldwide who have committed to Pledge 1% of either their product, profit, equity, and staff time to a charity of their choosing. Social Champ is proud to announce its commitment to donate 1% of Time and Product to a wide range of charity partners.

Co-founder and CEO Sameer Ahmed Khan explains what this partnership means to him and how Social Champ is making a change in the community.

“We offer 50% off for life on all of their plans to all the registered non-profits so they can scale their marketing efforts on social media. In times of pandemic, small and medium-size businesses who couldn’t afford the product were offered a free subscription for a limited time so they can survive.”

Sameer Ahmed Khan also dedicates time to giving back to society in terms of free one-on-one coaching, social media training, and their startup journey to inspire new entrepreneurs. The talks have been delivered by Nokia, Microsoft, Facebook, WordPress Community, Tedx, IEEE, and many others.

“A lot of mentors helped us to where we are today. We find it a responsibility and an honor to give back to the ecosystem by helping startups and university students”, says Sameer Ahmed Khan. Sameer, with his team at Social Champ, regularly conducts digital marketing workshops for new startups. Sameer continues, “The mentors from The Nest IO incubator in Karachi, Pakistan, and professors from University of Karachi, have equally helped us to shape a better founder, citizen and a human being.”

Social Champ is proud to join the Pledge 1% community and encourages other companies to take the pledge and leverage their business as a force for good.

About Pledge 1%
Pledge 1% is a global movement that inspires, educates, and empowers every entrepreneur, company, and employee to be a force for good. Over 12,000 members in 100+ countries have used Pledge 1%’s flexible framework to ignite half a billion dollars in new philanthropy. To learn more about Pledge 1% and to take the pledge, visit www.pledge1percent.org.

Pledge 1%’s #WomenWhoLead series celebrates female leaders who are paving the way for the next generation. While our featured leaders come from a variety of backgrounds and industries, they are united in their efforts to promote equality for all women in the workplace. We’ve asked them to share a bit about their journey to success, as well as lessons they’ve learned along the way.

What is your name and title?

Amanda Rees, Cofounder & CEO at Bold.

Briefly (1-2 sentences) describe your current role.

I’m the Cofounder and CEO of Bold, a digital health and wellness platform focused on disease prevention and healthy aging. Bold offers personalized and research-backed, on-demand exercise programs, to help our members stay active and healthy so that they can chase the life they want at any age.

How did you get here? Please share any quick stories from past work experiences.

Before starting Bold, I worked at The 11th Hour Project, a program of The Schmidt Family Foundation, managing the Renewable Energy portfolio. While there, I worked on many incredible initiatives with nonprofits focused on democratizing renewable energy and advancing environmental and economic justice.

During this time, I was also living with and caring for my grandmother. I eventually started Bold because my role as a family caregiver and my experience teaching fitness classes at retirement communities led me to realize there was a need to develop better tools for healthy aging.

What is the most important lesson you’ve learned this past year?

Growing our team and business remotely has made it crystal clear that it’s essential to invest time and energy to develop clear communication and build trust in relationships that matter to you.

Do you have any mentors? What does mentorship mean to you?

Yes – I have found a few incredible mentors that I can turn to when I need advice and feedback on how to evolve and grow as a leader. I’m incredibly grateful for their willingness to share their own experiences with me as a way to help me learn and find my own path forward.

What advice do you have for women who are just starting their career?

1. Surround yourself with people you respect and who share your values.
2. If an opportunity excites you, chase it.

What is one thing companies can do, big or small, to help create an environment that advances women into leadership positions?

Recognize diversity in leadership styles and don’t assume there is a “right way to think” about everything.

What is one thing you hope to accomplish in the next year?

I’d love to get vaccinated

When did your company join Pledge 1%? What does your impact program mean to you?

Bold joined Pledge 1% last year because we’re committed to not only improving the lives of our members, but to supporting efforts that advance health equity and justice more broadly. I also love that our impact program supports community building within our organization too!

What do you like to do outside of the office? Any interesting (or unique) habits or interests?

Samba dancing

What’s been the one (or two!) things that have helped you navigate this past year? Any tips or tricks to dealing with remote work?

I believe health always comes first, and during a year that has been traumatic and stressful in many ways, I think it has been more important than ever to create a culture that values physical and mental wellbeing.