HOUSTON, Oct. 22, 2024 /PRNewswire/ — Uncle Funky’s Daughter, a leading natural hair care brand, has partnered with Texas Southern University (TSU) to empower female entrepreneurs through the MPoWR Her Grant. This initiative, supported by a $50,000 endowment from The Rhoten Morris Family Foundation, will be awarded annually to an African-American female student at TSU’s Entrepreneurial Hub, providing critical financial support for their startup ventures.
This initiative is especially significant in light of the current entrepreneurial landscape. According to J.P. Morgan, African-American women are the fastest-growing demographic of entrepreneurs in the United States, increasing by a staggering 50% between 2014 and 2019, compared to the 24% increase among women-owned businesses overall. However, despite their growing presence, African-American female founders receive less than 0.35% of total venture capital funding …