MIT IDEAS Social Innovation Challenge Virtual Showcase
New Majority Capital Foundation (NMCF)
Basic Information
Project Summary:
In the US, only 18% of small businesses are owned by people of color, despite this group comprising over 40% of the population. Women, account for 19% of business owners and over 50% of the population. As 12 million baby boomer-owned businesses come to market, this is a unique opportunity for historically underrepresented entrepreneurs to participate in business ownership and begin a path of generational wealth. NMCF is a registered nonprofit organization that provides free training for BIPOC and women entrepreneurs to gain the skills necessary to acquire and scale a small business. Our training is rooted in ETA (entrepreneurship through acquisition). We also provide free succession planning training for current small business owners. Our north star is attacking the gender and racial wealth gap in the United States.Sector
Finance, Employment & EntrepreneurshipProject Video
Solution Team
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Where our solution team is headquartered or located:
Providence, RI