Listen to “#651 Why Black Innovation Can Be the Key to Economic Growth” on Spreaker.
On this episode of The Small Business Radio Show…
SEGMENT 1 and 2 with Melvin J. Gravely, II, starting at 0:00: Over the last year, the subject of race has been front and center in the news and business… and it’s time for all of us to care. Addressing this issue can help improve the economy of every community. Melvin J. Gravely, II is here to help us talk openly about race in America, Black innovation, and our path to economic growth.
SEGMENT 3 with Senofer Mendoza, starting at 37:15: For a long time, venture capital investing has been a man’s world. Most of the VC firms are run by men who invest in male founders. Senofer Mendoza aims to change that.
More on each segment below.
Segment 1 and 2: Melvin J. Gravely, II is the CEO of a commercial construction company in Cincinnati, Ohio. As one of the largest construction companies in the region, it is a consistent member of the Deloitte 100 list of the largest privately owned companies. He has a new book called: “Dear White Friend: The Realities of Race, the Power of Relationships and Our Path to Equity.”
1:30 – “My friend, I do not believe you are a racist.” Why start the conversation there?
3:15 – Why talk about race now vs. in the past?
6:45 – Why Blacks and Whites have a different contract with America.
10:30 – What is it like to walk in the other person’s shoes?
14:30 – Racism constrains economic growth and Black innovation.
18:00 – Why Black innovation is a “superpower” for making our communities more inclusive.
21:45 – What can people do to support systematic change?
25:30 – And why should they want to make a change?
28:00 – How has your commercial construction business been during the pandemic?
29:30 – What is driving the hesitation towards vaccination in the black community?
Segment 3: Senofer Mendoza is a Founder and General Partner at Mendoza Ventures. She is an advocate for diversity and inclusion across both her professional and her personal life. She is a former enterprise sales executive selling into large brands including Marriott, Fairmont, and Starwood.
37:15 – Why has venture capital been a man’s world?
39:45 – What’s the mission of Mendoza Ventures and how are they helping the next generation of business professionals succeed? 41:15-42
42:00 – Diverse teams perform better. Why?
46:15 – An example of a powerful diverse team.
47:45 – How can you find venture capital funding for your minority-founded company?
50:15 – The impact on the diversity of private equity and venture capital so far.
