Our criteria for inclusion in this study required that companies be U.S.-based tech startups with a Black woman founder/co-founder, who owns at an equal or majority share of the company. We used the following definition of a startup:
“A startup company or startup or start-up is an entrepreneurial venture or a new business in the form of a company, a partnership or temporary organization designed to search for a repeatable and scalable business model.”
This could include companies of any age but would typically consist of those in business for less than five years. These companies are still tinkering with their business models or trying to convince potential customers of their unique value proposition, or both. They may or may not have generated revenue, and their income is difficult to accurately project.
We focused on companies that had scalable products that were not based directly and solely on human capital, which means that consultancies were excluded from the database.