Houston startup nonprofit partners with local initiative to bolster Black entrepreneurs

A new initiative between two Houston organizations is dedicating resources to Black entrepreneurs. Photo via houston.impacthub.net

Impact Hub Houston has partnered with the Black Marketing Initiative to offer a new training, mentoring, and networking program for local black entrepreneurs in honor of Black History Month.

Dubbed MarketBlack, the program will provide participants with 7 weeks of workshops and interactive training modules designed to help them create successful business plans and foster growth through practical lessons from educators and fellow entrepreneurs, according to a statement from Innovation Hub Houston.

The idea was born in June of 2020 when BMI conducted its Community Checkup campaign to assess the vitality of minority-owned small businesses in Houston amid the pandemic. The campaign surveyed 226 mostly Black-owned businesses, according to Impact Hub Houston's website. Nearly half of those surveyed reported that they needed business and marketing support.

The program will aim to provide participating entrepreneurs with the skills to keep their businesses alive through the remainder of the pandemic and beyond.

"The Black Marketing Initiative is not just about being Black — it is also about the belief that community can positively impact us all," says Action Jackson, a leader and organizer of MarketBlack. "Successful Black entrepreneurs are good for business. Good for community. Good for everybody."

The program is open to Houston-based small businesses that make less than $50,000 a year, are less than 5 years old, and are majority Black-owned. The owner must be at least 18 years old. Interested business owners can apply here.

According to ImpactHub, the majority of businesses that have participated thus far have not had a business plan and make less than $25,000 in annual revenue. Participants have ranged in age from 20 to 47, are split about evenly between male and female, and have all been Black with one participant also claiming American Indian or Alaskan Native Heritage.

Impact Hub Houston is sponsoring and raising funds for the program, as well as opening its network and community to participants. According to the nonprofit's website, a donation of $100 can support one entrepreneur through the program.

Houston-based Sankofa Research Institute is providing BMI with progress and outcomes to give the organization a snapshot of Houston's Black business community and determine the efficacy of the program.

Other partners and participants in MarketBlack include Action One Media, Marcus Bowers of Marcus Bowers TV and She's Happy Hair, Choose to Do Inc, Emergent Business Solutions, and South Union CDC of the Sunnyside Energy Project. These organizations and other local business owners act as panelists, instructors, and even financial partners to the participants.

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Building Houston

 
 

BUCHA BIO has raised over $1 million to grow its team, build a new headquarters, and accelerate its go-to-market strategy. Image courtesy of BUCHA BIO

A Houston company that has created a plant-based material that can replace unsustainable conventional leathers and plastics has announced the close of its oversubscribed seed funding round.

BUCHA BIO announced it's raised $1.1 million in seed funding. The round included participation from existing partners New Climate Ventures, Lifely VC, and Beni VC, as well as from new partners Prithvi VC, Asymmetry VC, and investors from the Glasswall Syndicate, including Alwyn Capital, as well as Chris Zarou, CEO & Founder of Visionary Music Group and manager of multi-platinum Grammy-nominated rapper, Logic, the startup reports in a news release.

“I’m excited to back BUCHA BIO’s amazing early market traction," Zarou says in the release. "Their next-gen bio-based materials are game-changing, and their goals align with my personal vision for a more sustainable future within the entertainment industry and beyond.”

The company, which relocated its headquarters from New York to Houston in February, was founded by Zimri T. Hinshaw in 2020 and is based out of the East End Makers Hub and Greentown Houston.

BUCHA BIO has created two bio-based materials using bacterial nanocellulose and other plant-based components. The two materials are SHORAI, which can be used as a leather alternative, and HIKARI, a translucent material that is expected to be formally introduced in November.

The fresh funding will help the company to accelerate its move into the marketplace next year by securing co-manufacturers to scale production. Additionally, the company is growing its team and is hiring for a new supply chain lead as well as some technician roles.

Per the release, BUCHA BIO is working on constructing a new headquarters in Houston that will house a materials development laboratory, prototype manufacturing line, and offices.

BUCHA BIO has the potential to impact several industries from fashion and automotive to construction and electronics. According to the Material Innovation Initiative, the alternative materials industry has seen an increased level of interest from investors who have dedicated over $2 billion into the sector since 2015.

“The time for rapid growth for biomaterials is now," says repeat investor Eric Rubenstein, founding managing partner at Houston-based New Climate Ventures, in the release. "BUCHA BIO's team and technical development are advancing hand in hand with the demands of brand partnerships, and we are excited to support them as they capitalize on this global opportunity.”

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