Build in Tulsa

Solution Name:

Build in Tulsa

One-line solution summary:

Commemorating the 1921 Tulsa Race Massacre, a movement to build multi-generational wealth in Tulsa and across America

Pitch your solution.

Racial and economic injustice continues to have profound consequences for the Black community and the American economy (ex: $16 trillion in US GDP lost due to racial and economic injustice in the last two decades alone according to Citigroup). Build in Tulsa is committed to solving this problem by building the infrastructure for Black multi-generational wealth creation in America. Anchored in technology and with a focus on entrepreneurship, business and capital, Build in Tulsa is harnessing the business connections provided by a National Business Advisory Board; the guidance and support of a 3-tech accelerator pipeline and ecosystem; and the power and economic impact of a community-owned Black tech and business campus. If scaled globally, Black entrepreneurs across the planet will have the support, relationships and funding needed for breakout success - creating new generations of Black economic leaders and philanthropists who will bring change to their communities around the planet. 

Film your elevator pitch.

What specific problem are you solving?

Build in Tulsa aims to boldly respond to the problem of racial and economic injustice - in Tulsa and across America. Today, racial and economic injustice are hampering African-Americans not only in Tulsa, former home of the epicenter of Black entrepreneurship, business and wealth at the turn of the 20th century known as Black Wall Street (ex: Black Tulsans are half as likely to have a high wage job than their white counterparts) but also across America (ex: less than 1% of American venture capital funding going to Black founders and Black families holding 10% of the wealth of a white family - $17,150 compared to $171,000). To address this problem, Build in Tulsa seeks to build a scalable, replicable and tech forward entrepreneurship and business infrastructure to catalyze Black multi-generational wealth creation and philanthropy in Tulsa, across America and around the globe.

What is your solution?

Build in Tulsa is a scalable, replicable and tech forward ecosystem built to provide Black entrepreneurs - from Tulsa and across America - with the support, funding and relationships needed for breakout success. Build in Tulsa will (1) recruit top Black entrepreneurs in Tulsa and across America into the program (2) provide entrepreneurs with housing, a stipend and an individual growth coach (3) give entrepreneurs access to 1, 2 or 3 accelerators based upon company phase, type and size (4) provide entrepreneurs opportunities for follow on funding including $1 million for companies to make Tulsa their HQ and (5) make introductions to world-class business leaders and corporate partners to help Black businesses scale. Like Amazon is customer obsessed, Build in Tulsa is Black entrepreneur obsessed - and focused on building an evolving suite of programming, products and services designed to level the playing field for Black entrepreneurs and provide them with the best chances for breakout success. 

Who does your solution serve, and in what ways will the solution impact their lives?

With a mission to build scaleable, replicable and tech-forward entrepreneurship and business infrastructure to catalyze Black multi-generational wealth creation in Tulsa and across America, Build in Tulsa is working to directly and meaningfully improve the lives of Native Black Tulsans, Black Tulsan entrepreneurs, Black entrepreneurs across America - and the communities in which they live and work. 

Black Tulsans

Native North Tulsans, the descendants of the victims of the Black community that was destroyed by the 1921 Tulsa Race Massacre, continue to feel the impacts of systemic and structural racial and economic injustice. According to Tulsa Mayor, G.T. Bynum, “In Tulsa, the racial and economic disparities that still exist today can be traced to the 1921 race massacre.” According to Human Rights Watch, ongoing racial segregation, discriminatory policies, and structural racism have left Black Tulsans, particularly those living in North Tulsa (home to 17% of Tulsa’s population, 41% of Tulsa’s Black population and is itself over 80% Black), with a lower quality of life and fewer opportunities. Key disparity indicators include:

• Poverty: 33.5% of North Tulsans live in poverty, compared to 13.4% in South Tulsa. The unemployment rate for Black Tulsans is over twice the rate for White Tulsans.

• Nutrition: North Tulsa has no traditional supermarkets with fresh meats and produce, and it is hard to find nutritious foods. Food deserts likely characterize most of North Tulsa.

• Education: Schools in North Tulsa lack funding and resources because of the tax-based and community funding structure in Tulsa. The average black student in Tulsa public schools attends a school where over 81 percent of students are eligible for free and reduced school lunch, as compared to 55 percent for the average white student.

• Economic Development: North Tulsa has relatively few large-scale employers, businesses or shopping districts, compared to other parts of the city. Businesses tend to be small and do not provide many employment opportunities.

To understand the needs of this community, Build in Tulsa is not only working closely with Tulsa Economic Development Corporation (an organization charged since 1979 with promoting and sustaining small business growth in Tulsa), but also engaging deeply in and closely with the North Tulsa community to ensure that we are not acting upon the community, but working with the community to solve the challenges that it faces. Guided by TEDC, community members and the Build in Tulsa Local Advisory Board, Build in Tulsa is building the infrastructure for true economic development through small business owner and entrepreneur support. This work has already begun to bring about success to the North Tulsa community with support of local entrepreneurs who are serving the community by building companies in areas like education and vocational training. 

Black Americans and Black Entrepreneurs Across America

For the Black Americans across the nation, similar challenges abound. Key representations of these disparities can be found below: 

• For every dollar earned by a white employee, a Black employee makes $0.76.

• The average net worth of a white family ($171,000) is nearly 10 times that of a Black family ($17,150)

For Black entrepreneurs, structural and systemic injustice continues with Black entrepreneurs receiving less than 1% of venture capital funding historically. 

Through work and deep partnership with Black entrepreneurs and Black members of America's venture and entrepreneurship ecosystem, Build in Tulsa is building an infrastructure and ecosystem with the Black entrepreneur at the center - designed to provide all of the resources needed for breakout success. Through building a foundation for the economic success of Black Tulsa and Black American entrepreneurs and businesspeople, Build in Tulsa is fighting for the future of Black America, the American economy - and America itself. 

The Goal: To create new generations of game-changing Black entrepreneurs who will positively lead and create impact in their communities across the country and realize the $5 trillion in US GDP to be gained over the next 5 years by closing gaps in funding and support for Black entrepreneurs according to Citigroup. 

Which dimension of the Challenge does your solution most closely address?

Explain how the problem you are addressing, the solution you have designed, and the population you are serving align with the Challenge.

Racial and economic injustice; our economic development and entrepreneurship ecosystem and infrastructure-building work; as well as the North Tulsa population and greater Black community are directly aligned with the Challenge because our work is designed to bring equitable access to  nationally scaleable and replicable tools, opportunities and supports for the descendants of Black Wall Street, Black communities across America, and historically under-supported Black entrepreneurs. With a focus on business ownership and entrepreneurship and anchored in tech innovation as well as local and national partnerships, we seek to create Black multi-generational wealth - in Tulsa and across America. 

What is your solution’s stage of development?

In what city, town, or region is your solution team headquartered?

Explain why you selected this stage of development for your solution.

As Tulsa approached the Centennial of the 1921 Tulsa Race Massacre, Build in Tulsa is in the pilot phase as we have already begun our work engaging entrepreneurs locally and nationally about recruitment into our accelerator pipeline and ecosystem. Through leadership from board members like Board Chair, John W. Rogers of Ariel investments and Loida Nicolas Lewis (widow of Black billionaire entrepreneur Reginald F. Lewis); partnerships with established VCs and accelerators like Lightship Capital and Techstars; as well as programming and an HQ being built around and for the North Tulsa community, Build in Tulsa is already capturing imaginations and having impact in Tulsa, OK. 

Who is the Team Lead for your solution?

Randolph Frazier Wiggins